Best place to purchase silver?

Rookie question probably but where is the best place to purchase some silver coins? Banks? coin dealers? Online? I'm doing research and wanting to begin investing but not sure where to start!

 

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Some good dealers are Provident Metals, Apmex, jmbullion, among others.

I don't think many, if any, banks in the U.S.A. sell silver bullion, unless you're referring to roll searching for silver coins.

 

Okay thanks. Any suggestions of silver coins that are a good beginners coin?

 

http://www.monarchpreciousmetals.com/
http://www.silvertowne.com
http://www.moderncoinmart.com/
heres a few more, shop around and get on mailing lists for sales an specials,

 

I viewed the APMEX site for the first time the other day and they have a nice selection of silver coins. I personally like the 1 oz. Mexican Libertads. You also don't have to worry about counterfeits with the bigger bullion dealers named in this thread.

 

Moderncoinmart is the best for 1-20 ounce orders. They have excellent customer service and free shipping. The next best is ProvidentMetals for larger orders. They also pay the most when selling. Good luck!

 

I only go to my local coin shops, you never know what you might find at one and the prices are usually better then most online stores I've seen.

 

Lots of places, but why don't you tell us, or me, what you're trying to accomplish and I'll then try to send you in the right direction. There are hundreds of places to buy from, or more, but what you're trying to accomplish or you goal would be a good thing to know before anybody gives you advice.

 

Start with the basics. I like pre- 64 10, 25 and 50 cents in "junk silver". They can be purchased at either 16 or 18 times face value, so it's easy to know how much they are worth and if you are getting a good deal or not. Check out the spot price every day to know how much to pay each day. The spot price will be close to the value of the coins.

 

Check out Coinflation to find out what they are worth each day. Then start looking around for them everywhere.

 

Yep. I have seen great deals, and horrible deals, in just about every venue possible. There is never a "right" answer. The only way to know is to educate yourself both on the market and your coins. Just in one weekend a couple of months ago I went to a show where 90% was selling anywhere from 17x to 19x in the same show, then stopped by a local dealer and he had some for 15x. I bought the 15x, which at the time was basically melt.

 

15 x face is a really good price. I am waiting for it to go to 14x. I would love to get two silver dollars for $30 again.

 

Well I am a new coin collector and don't have any silver yet. Like u said, I'm trying to gain knowledge before buying. I know I want to collect silver but would like some suggestions where to start.

 

Another good way to educate yourself is to check out "silver bullion stackers" on YouTube. There is a whole Stacker community there with alot of good advice, plus you can watch unboxing videos and get a idea of what you like. Knowledge is key. Good luck!!

 

As a beginner I'd suggest not paying more than 10% over spot for your silver. I.e. with silver at 21.75 right now, I wouldn't pay more than 21.75+2.17=$23.92 an ounce

Once you have more knowledge of different coins and their values then I could see expanding beyond that rule, but I think it would be a decent rule for beginners and will keep you getting burnt from any of the sites that sell "numismatics" that can just be over-hyped bullion.

 

Start with your local coin shop. Start slow and build up your confidence

 

I've found Aydin Coins to be a pretty fair place as well.

www.aydincoins.com

 

Thanks for the insight. Since you are basically stating you want to collect, maybe you should decide what you want to collect, old silver coins, current issue govt bullion, private bullion, or what ever. Once you decide what it is you want, then you should ask the question of where, when and how. You'll be served you much better info that way.

 

Craigslist.com is by far the best. Check your local classified ads and you'll usually find people in a bind that are selling their coins or bullion. Just make sure you know what you're looking for and always do it safely such as in a bank or a police station.

 

I agree with some of the other folks that posted - need to understand why you want to buy silver...

• do you want to buy silver bullion as an investment (and don't care so much about which coins you acquire)
• do you want silver content coins that you can hold and inspect (I love the feel of a good morgan silver dollar in my hand)
• do you want to collect more "rare" coins graded for numismatic value (e.g., a morgan silver dollar in a sealed case graded by NGC or PCGS)

Three very different scenarios. Go slow, do your research before you buy, and enjoy it. If it starts to feel like work, you're doing it wrong!