buying bullion

so all in all i should pay these prices

 

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Yes, Cloudsweeper knows what he is talking about.....

Try to buy at the closest price to spot you can for .999 hall marked Ag. The spot price is a number that is really just a guide of the trend in my opinion. The real price of PM's is what people will pay for it and sell it at....what the REAL market bears. I do not fret a couple dollar premium....I just buy and stack. It is also all about developing relationships and trust....whether someone local or someone online....I have plenty of folks I have bought from online that stay in touch when they have something for sale I might can afford or have expressed interest in...Good luck!

 

I would say that if it matters to you whether you pay $15 or $16 for a stock, you shouldn't buy it at all. If you don't think the stock will, say, triple over the next 10 years you should just move on. I feel the same about silver.

I'm not intentionally advocating overpaying for silver. I'm just saying that if you believe it is going much higher in the future, don't worry so much about the actual price you pay. If you don't believe silver is going much higher in the future, and that $1 is going to make or break the deal, don't buy it at all.

 

Definitely. Keep going. Slow and steady wins the race.

 

well i get some money tomarrow so il be doing some rolls and buying a 1 oz bar il post a pic of it if y'all want it'll be my first

 

$1.50 over spot is good. As someone mentioned, you might find "specials" at APMEX but there's shipping and sometimes minimums. I think your monthly buying plan is a good one.

 

Watch out for shipping charges at places like Apmex for small purchase amounts:
$9.95 for orders of $50.00 - $199.99 (Plus 3% of subtotal)
$12.95 for orders of $200.00 - $499.99 (Plus 3% of subtotal)
etc...

Go to the flea market or a local dealer is my suggestion for "a couple here or there".

 

when have you seen these specials? are are they involving american eagle 1 oz'ers? I wanna make a fairly large order of $1,000 or more in silver some time in the future and I would kick my own A** if I missed out of something that would give me a few more eagles or more!

 

yeah. i agree, buying from premium dealers and auctions saves you time n money as ebay sell crap or scrap coins. even rare coins are mostly doctored problem coins save the PCGS or NGC slabbed ones of course.

 

I assume you're talking about scrap silver in the form of jewelry and decorations. Scrap coins should be kept as is. One of the values of halllmarked bars/rounds is that they do not have to be assayed when sold. This is true of coins as well. Self created bars are going to be a problem to sell without the extra expense involved in determining content.

You can often find deals on "scrap" coins on forums such as CT. You might get a better price and not have the sales tax issue. A local coin club that has a bourse and or auction is a great place to buy silver coins at or near spot.

 

Someone will usually post here or on CU to let others know when a special is happening.

 

Your 16 years old and your saving and investing!? :high5: Way to go!!!

...but for Heaven's Sakes, why invest in bullion?? If that's the only way you can get motivated to save and invest...go for it.

Otherwise, talk to your Mom or Dad about setting up a Roth IRA. If you dollar cost average (constant monthly investment) into an S&P 500 Index fund...I GUARRANTEE you will make 10 times the money you will investing in bullion.

 

It should seem obvious that he likes silver and is looking for advice on where an how to buy.

I have bought at APMEX and they do run specials at $1.49 over spot on AE's every once in a while. If you check out their closeouts and specials sometimes you can find new secondaries for .49 or .79 over spot. They do have a minimum order of $50 and will accept a check without paying the 2 or 3%, if I recall correctly. You just have to wait longer and pay shipping.

If your local dealer will sell it to you at 1.50 or 2 over, I would tell you to do it. No shipping, instant delivery and hopefully a long lasting relationship for both of you. I say do it.

Keep an eye on this, check the charts, etc, it will give you an education but do not give yourself paralysis by analysis....lol

http://www.kitco.com/market/

 

You're right...that is obvious (hence, my recommendation). If someone says they want to jump off a bridge, are you gonna give them directions to the nearest bridge or are you gonna try and talk them out of it?

 

If you asked me nicely I would give you very specific direction to the bridge.

I was trying to make a point that it is better for him to spend his money on bullion than some of the other things kids spend their money on.

 

Word!

 

wow i didnt expect this to become a little debate lol

 

It's not. Reality is this. it is your money and you have the right to do with it what you want. My suggestion is deal with your local guy and if you can buy an AE or 2 just to have. Please, do what you wish, it is your money and I hope hard earned.

:whistle:

 

i'l shoot him an email and see about ae's i dont know if he carrys them

 

You're right...this is the "bullion" forum...not an investment advice forum.

...my bad.