I have an offer to buy 5 to 10 ounce bars of chinese silver for about $5 per ounce, now either this is an incredible deal, or I'm not getting what I think Im getting. Any thoughts? ** Granted I know this probably isnt .999 fine silver or anything, but it still looks like a good deal...
Allright I had a suspision that it was a bad idea... So I want to invest some money in silver before the price tops out, where should I start? (I have a couple of 1oz Engelhard bars but thats about it) Also note that Im a poor High School student so I cant afford hundreds of dollars worth of silver here....
Yeah I managed to buy some engelhard bars for $12 a peice but Im wondering if there is anything cheaper/more reliable in quantity that I could buy whenever I had the spare cash.
you would be better off to put together a little bankroll before you start to buy. If you buy single 1oz coins or bars the shipping is going to eat into your profits. Look for larger lots, maybe 5-10ozs at a time so the shipping will even out a little. You could also look into silver cull coins. Usually there isn't much of a premium over the spot price of silver. Hope this helps
Thanks, all this input helps me a lot. I think I am going to save up my money from doing web design for a while and buy some 10oz bars when I have the money. So is there anything else I might need to know about?
yah a couple... I charge everyone on CT 10% of what they purchase, so pretend your getting 9 oz instead of 10 and we will all be bettter off. and my 10% is the obverse and reverse, you get the middle let me know how it all goes
If you know clearly that such Chinese bars are not a wise choice, don't bother. As well as, usually to make a decent profit, you have to be looking in terms of 100+oz. There is 100oz bars just for that you know. Think about it, suppose if silver is at 10 dollars and one day double in figure. With 10oz, you throw in 100 dollars and you earn 100 dollars. Sure thing, it is better than sitting in the bank, but the scale factor comes in. No get to rich scheme - all is hard work mate.
I'd try to stay away from buying single coins especially over the Internet. As mentioned before, shipping is going to eat you alive. Try to find a dealer and buy from them. Sometimes you can get some pretty decent deals on ASE's (which I was stupid and didn't pick up a roll last month, the price then is now below melt). With silver you need to invest in large amounts to make good profits unless you plan to hold on to it for a few years.
