First to all those here in which i might have offened i was wrong and i am sorry for my behavor! Now for my ? i am investing now for the long term 20plus yrs. There is only so much silver or gold in the earth? Am i wrong for thinking in 20yrs it will be worth more then today? Do i buy generics? ASE? Do i buy no matter what the price is? I am spending about $500 a month right now and do realize this is a crap shoot. Who do i believe when i read all the info on the web? I know there are ppl making $$ off of fear and i not so dumb as to think silver will go as far as $100 an oz (if so great) but also feel its under valued at $17. I want a good plan but need help from ppl who have been doing this longer then me! Oh thats you guys!!
Most folks here will recommend ASE's over generics because your buy/sell spread will hurt less. Lots of threads on this topic. Check out my thread "Dealer buy price for junk silver coins" there is a lot of good insight there...you may want to consider those. I say go for the Walking Liberties...you would be holding a bunch of beautiful (if worn) 60-70 year old coins and could have roughly 3 of them for each ASE!!!
Ben Franklin's aren't so bad either. There just not as old. You can find many in very nice looking condition for slightly more then spot. I find half dollars carry the smallest premiums, as the coins are larger, so you get less of them then if you bought dimes. My dealer sells Franklins for $6.60 but dimes go for $1.75. So, $1.75 X 5 = $8.75. If you buy ASE, you might consider getting a whole roll, (holds 20), and ask for a deal. Many dealers are willing to offer you $1 less per Eagle, if they know they won't have to break up a roll. And most importantly, shop around.
I think ASEs are best for a 20 year investment. However, (1) you will probably do better investing that much money in stocks or stock mutual funds, and (2) there will probably be a time between now and 20 years from now when it will pay to sell the silver into a much higher market. So don't commit to holding it for a set period. It is only necessary to recognize that the future price will probably be much more than the current price.
I have a roth IRA as well,and i am now buying only in rolls of 20! My dealer wanted $30 for 1 but got them down to $20.50 for a roll when spot was $18.50 so not too bad i think?
