Silver Stacking help

I am looking to start collecting silver in large quantities, should I focus on 1 oz rounds 1oz bars, 10 oz bars 90% silver coinage. And where is the cheapest location that you know of to buy at?

 

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Check out APMEX.com which is a great website that is VERY well trusted.

 

I have checked out Apmex and it seems like the only way to get a good deal is to buy 500 plus ounces from them

 

Is 90% cheaper than buying 10 oz in silver in bar form. Also what is the deal with war nickels. I can almost always get them under spot. Is it really just because the are only 35% silver?

 

I had one coin dealer tell me that they don't pay near spot price for silver nickels because they have to acquire a whole lot of them before they can send them off and it takes a lot more work whenever they are melted down to get the silver out of him.

 

But if I am doing this to amount silver is it a bad way to go?

 

A dealer the other day offered me 30 cents per silver nickel because they just don't have much interest in them. If you want to stack silver then it is one way to go but there is probably better ways to acquire silver coins. Only once have I ever seen someone at a coin show asked to buy a bag of silver in nickels. Usually everyone wants 90 percent silver coins

 

Buy whatever you can afford and makes you happy. If you are buying it to keep it then you should be fine. You just usually won't get as much for them if you resell them.

 

Right now my local dealer is charging 15.3x face? Is that the cheapest there is. Online it seems like everyone is at 16x

 

If all you're looking for is the lowest premium, I'd say 10oz bars. Provident has them at less than $1/oz premium. I was told JM Bullion has some at under $1/oz premium with free shipping, but I haven't done business with them and wouldn't send you there.

I think liquidity and low premium is what you're after, right? If that's the case, you can also pick up generic and plain 1 ounce rounds at Provident for about $1/oz premium. Just don't be picky about the style and that's about as cheap as I've seen online.

Good luck.

 

+1 with what Peace said. I like Provident.

 

I would encourage you to buy nothing except junk silver -- dimes, quarters, and halves. If you buy bars or rounds, down the line you may have to convince someone that they are really silver, and not plated, and not Chinese fakes. If the dollar collapses over the next 5 years, and you need to "spend" some of your silver for food, etc., how is anyone going to "make change" for a 10-ounce bar?? I like the "loaf of bread" analogy. Right now, a silver dime conveniently buys a loaf of bread (~$1.50 or so). Hyperinflation comes, bread costs $3.50 a loaf, and a silver dime will probably STILL buy a loaf of bread. The only reason to stack silver is to protect the purchasing power of your dollar. If you buy eagles, or graded Mint products, or bars, or rounds, you are not really a stacker. The premium you pay now (over melt) will vaporize eventually. In addition, junk silver is seldom faked or counterfeited -- it's too much trouble for the small amount of money involved. I would agree with someone who wrote that big bars may have the lowest premium of all, but the problem is using them efficiently in everyday commerce.

I prefer silver to gold because I believe silver will double in price before gold does. Silver has a drawback, it's exceedingly heavy in large (stacker) quantities, and it takes up a lot of room, whereas you can hide an ounce of gold a thousand places in your home.

I generally catch a lot of flack when I type out these paragraphs, but I don't care.

Another point or two: you don't try to "trade" silver, buying and selling your stash every time it's up or down a buck. This does NOT work. The silver you buy, plan to hold it 10 or 15 years, until things calm down. Don't tell friends you're stacking PMs. Protect them the best you can from theft, tornadoes and hurricanes, and fire. If you decide to keep them in a safe deposit box, choose a Credit Union, not a bank. The drawback to a box is that it centralizes all your valuables in one location, and if something big happens, financial institutions may lock their doors, and you're cut off from your PMs for a long time. One last thing -- certain cash transactions generate a 1099 which then becomes part of your IRS or DHS records. Here's an example; in November, I opened a new brokerage account. I didn't like the service, and I didn't like the moron at the other end of the phone. In March, I closed the account. Two weeks later, I got an inquiry why I had opened and closed an account within a 3-month period, and never completed a transaction. This is not an uncommon level of intrusion in this country today. It's going to end badly.

Don't believe me? Here it is, edited:

"xxxxxxxxxx (and all broker dealers) is required by the USA PATRIOT Act and the Financial Industry Regulatory Authority (“FINRA”) to perform due diligence, in order to “know our customers”. Because of these regulations, xxxxxxxxxx does periodic reviews of accounts and follows up with customers, if we feel we need more information in regards to account activity.

Your brokerage account #xxxxxxxx was recently reviewed, and it appears that, since the inception of your account, you have deposited funds into your account, and subsequently removed those funds, with no trading activity at all. Please explain the reason for these cash transactions."

That ought to sober everybody up...

Good luck.

 

Where do yu buy your 90% coins

 

A favorite seller on CraigsList brings a few rolls directly to my credit union, walks out with cash. No risk, no postage, no insurance, no 1099s.

 

Does e charge spot

 

I really don't discuss my sources or prices. In the long run, it doesn't matter if you pay spot, 10c over, or 10c under. You don't "trade" junk silver, you buy it and forget about it. If you're going to waste time and gas chasing silver to pay 3c less, you're on the wrong path.

 

If the dollar collapses, I doubt having junk silver is going to help you. IF that is your real concern, you'd better start stockpiling guns and ammunition. You can always take someone else's loaf of bread.

 

Yeah, that has always been my argument. If in fact Silver and Gold do have value (which is not certain) the most likley scenario is the folks who stacked it, will most likley not be the folks who wind up with it. That will go to the folks with the biggest armies.

 

Dollar collapse is relative. Three years of 26% inflation doubles price levels. A doubling of prices sweeps away the folks living paycheck to paycheck (there's LOTS of them) and installs them in FEMA camps, or compels them to triple up households in old, shabby, but paid-for houses. I won't be here to see this tragedy. The rich will ALWAYS seek to swap their depreciating Federal Reserve notes for real money, i.e., gold and silver.

All the preps in the world won't help me if I'm cut off from my prescriptions. After I run out, I'm dead in 30 days, the last 10 of which won't be pretty. And that's true for a great many senior citizens. If I were 35 or 40, I'd have a different outlook, and, I wouldn't be living in the U.S.