Just recently got into buying silver. I'm 24 years old right now and don't make a whole lot yet so a few questions. Right now I'm paying all the bills, putting some in a rainy day fund, leaving some for monthly activities/outings (fun stuff) which leaves me a little for silver every pay check. I just started buying my last 4 pay checks, in order from first tell todays check I bought 3oz, 4oz, 4oz, and 7oz today. Is this the best way to be doing it? Or should I be saving for a a month or 2 and trying to buy more at a time? Next are the types i'm buying. The shops I buy from around me sell american eagles for 3.50 over spot or the generic buffalo rounds for 1 over spot (which is what i've been getting) so should I be paying the extra 2.50? It seems to me that 1oz... is 1oz? Anyways I have to say this is very addicting. If I didn't have bills (life) I would spend my whole check on it because it looks awesome and I can hold it haha. Today's check had over time on it so I was able to get the extra oz's so it was pretty exciting.. now I just need to save up for a good safe!
Holy crap thats alot of money at 28 an ounce the ase have a premium when sold id buy silver when i have money as its somewhat heap right now if u saved up the price might be higher and ud get less and if you have that kind of money get the 5 oz natinal park quarters from the ment
what are the benefits of buying a national park quarter? And wouldn't I have to pay for shipping or something?
:welcome: crazyinside These are what we call 5oz. Silver "Hockey Pucks" https://catalog.usmint.gov/webapp/w...storeId=10001&catalogId=10001&identifier=8305 :hail: US Mint Stats http://www.numismaticnews.net/article/mint-stats-three-s-quarters-more-eagles-on-sale
I don't think buying in bulk is really going to save you any money unless you are buying a lot online. Coin shops typically have the same price regardless, and no shipping. Yours has better prices than any in my area. I buy a little bit whenever I have money burning a hole in my pocket or see a good deal. Just be careful not to overextend yourself in case something comes up so you don't have to sell for a loss. The buy/sell spread for consumers in the physical market is sizeable, around $4/oz depending. Make sure you get a fireproof safe.
i like us coins ect because its a guarante on what your getting and every one knows that with generic rounds you realy never know whats inside
Well looks like i'm doing pretty good then, I think i'm going to try and even it out and buy 5oz each 2 week check. I saw a Winchester gun safe at costco for 530 bucks. Pretty nice, 485lbs with lots of the bolts and an electronic keypad lock. Looks like this http://reviews.costco.ca/2070-en_ca/10364144/granite-security-winchester-fire-and-theft-resistant-executive-safe-reviews/reviews.htm Still not sold yet
I think the strategy you have is correct. There ARE deals when buying in bulk online, especially with worn junk silver, but for the most part the savings are insignificant. Keep buying from the local B&M, tell them what you're doing and that you're also looking for bulk coins at a discount. Secondly, there is a FINE line between silver bullion and collecting. The ASE's have collector value and thus the premium. When selling there will potentially also be a premium. SO, what you are buying depends on your endgame. Are you accumulating for profit, economy collapse, or collecting. ASE's mean nothing in an economy collapse, but junk silver dimes would be perfect. The advantage of ASE's is with a rise in silver, you get the rise in bullion, but there is also the potential rise in collector value. So in a perfect world, buy ASE's as close to bullion as possible. 2012's can be had for $1 over spot to the keen investor. AND a Large THANK YOU!! I've been looking at that safe for months at a different store selling for $599 on sale. You just saved me $70!
I'm just buying for the future I guess. Either the economy collapses or when i retire to sell it all lol. But yeah i've been looking at that safe.. a costco by me had one on the floor so I went and checked it out. I think i'll go ahead and get one sense costco has free curb side delivery as well! And hey you can get 2 bullions with the 70 I saved you to put in the new safe! haha
Well I went to costco today and bought the safe... finally got it in the house. For my first big safe I think it's pretty nice, and I always hear to buy a safe to grow into.. which with my 18oz of silver i have so far... I defiantly have some growing into to do lol
I think the buffalos are a better buy. Should be easier to resell them close to what you bought them for then the eagles in my opinon.
ASE's are the only way I go. Much easier to unload if needed. Thats a fine lookin safe, how much are they gettin for those @ Costco?
While the ASE will cost more a time of purchase, you should be able to sell for more than a generic round. Also look for Maple leafs and philharmonics. I personally like bars and at my LCS the spread is less than ASEs.
My suggestion? Put the safe in a closet and make sure you locate the floor joices and screw from the bottom into the floor. Safes like this look impressive, but unless side access is blocked and its bolted into something solid they are not that hard for a knowledgable crook to open. There are a few threads around here about the subject.
It's lag bolted into the concrete below. Didn't really have anywhere to put it other then the basement. Maybe ink put something heavy next to it?
Do you have to pay sales tax on top of the premium? NY has a wierd rule where if you buy less than $1000.00 at a time you have to pay sales tax and anything over and you don't. My local shops usually charge $2 over spot for ASE's and spot on for most anything else. With the exception of smaller stuff like half ounce rounds usually go for about $7 over spot, don't know why.
