So how did I do on my first order - Rookie Here

This forum is incredible and I thank everyone in advance for your knowledge!

I recently wanted to start investing and playing in the silver market and boy is it addicting! I am looking for some feedback on my first two orders and want some advice on a potential third order:

1st Order - I ordered (20) 1 ounce Morgan bars from Apmex
2nd Order - I ordered (5) 10 ounce Sunshine Minting Bars and 20 ASE's all from Apmex

So how did I do?

I would love a JM 100 ounce bar or should I buy more 10 ounce bars and what do you think about Academy from Scottsdale?

I really like the poured look

 

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How well you did will depend upon if you intend to sock these away or flip them quickly. If you want quick flips you might do well looking at the ETFs, but if you want to actually buy the metal then you would do well to take possession.

 

Not sure, you didn't post a price. For all I know you could have paid "too much."

 

I paid $.99 over spot for the 1 oz. bars $.79 over spot on the 10 oz. bars and $1.99 over spot for the ASE's. I plan on holding for a few years and hoping silver goes up to get a good return.

 

I think at that price,as long as you plan on holding on to them for a year.you should do OK.Thats as long as silver keeps going up.I think it will.Some people have an opportunity to buy as close to spot as possible.I think you did good.some people are short term investors,some are long term.everybody plays the market in their own way.

 

I don't know how much money you plan on investing in silver. If you are only planning on getting a few hundred ounces, I would caution against getting the 100 ounce bar. Consider, someone has to buy that 100 ounce bar and you have to pay for shipping. Of course, this is just my opinion, but I'd stick with 10 ounce bars....you can always buy several and they will be easier to sell.

 

Welcome to CoinTalk!

It is addicting - and dangerous. Keep in mind that you are more likely to make serious mistakes that you will regret later during your first year of collecting/investing, and it would be better to make it using smaller sums. It doesn't take any special talent to buy silver. Just throw money at it. One morning you might wake up and be astounded at how much money you have tied up in the metal. I would suggest that you take a deep breath and slow down. How much do you know about silver? How much thought have you given to the type of product you want to buy? Do you know how to sell what you bought without taking a large loss on the bid/ask spread? How well do you know the seller? Do you know how to spot a counterfeit? How long do you plan to hold it? Why did you buy it? What would make you sell it? How does it fit with your overall financial situation? Just about everybody here likes silver. That doesn't make us correct. You need to do your own research and analysis.

 

Good advice Cloudsweeper99. True for almost every new endeavor, stamps, coins, metals, stocks, options, etc. Often the thrill doesn't allow one to really become educated about the small things that can add up quickly, such as bid/ask spread.

Jim

 

To the OP:
I think overall after you have been in it a while, you will be the happiest with the American Silver Eagles. You have a real US coin there backed by the government. And it will hold it's value.
My advice is always the same. Stick with a proven winner. There is always a premium on the silver eagles.
The bars cost less to buy, but you get less when you liquidate.
If you do intend to buy bars stick with the best brands like Englehard and JM.
And yes the 10 oz. and 1 oz. will be easier to sell than a 100 oz.
Not everyone has thousands of dollars to spend on one item.
At least you bought the physical metal. I am not in favor of the stocks, don't want to involve a broker and prefer to hold the metal myself.
It is more about control of my own destiny that it is about profit.

 

I agree. Good advice. :thumb:

 

I really think that 5oz and 10oz bars are good investment amounts for the casual investor that doesn't plan on stocking up 1000's of oz. As long as you hold them for a while while silver does its eventual climb then you should be ok.

 

Thanks everyone for the feedback.

I do not plan on buying 1,000's of ounces my goal is really about 200 ounces in total. Based on what I bought I am around 90 ounces. I would think 200 is minimal compared to what some folks may have on here but that is really my comfort level.

Having said that any recomendations on the 110 ounces still to buy over the next weeks/months?

I really like the look of poured bars, is there any risk to going after these?

Last question anyone have thoughts on academy 10 ounce bars from Scottsdale silver? I am also looking at 2, 3, 5 ounce bars from Monarch. Do they come recommended?

 

The easiest form of silver to sell for full value are ASEs. The more exotic the product, the more difficult it will be to sell and the greater the discount will be from spot. The larger the weight [100oz vs 1 oz], the fewer potential buyers you will find. It is important to buy what you like, but it is equally important to think about the ultimate sale process if the silver is primarily for investment purposes. I don't know anything about the products you mentioned [and I wouldn't be on the buying side when you go to sell them].

 

Love

Rookie,
I love it.
It's all about having a position.
Nicely done!