Confused Newbie Advice Needed

Tulving sells bags of halves at spot plus 9 cents with free shipping and a $15 wire reimbursement. Compare that to other dealers.

 

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sounds like a great deal to me, but I've only checked a few dealers.

 

For silver investment purposes, I finally settled on quality 10oz and 100oz bars and government 1oz rounds. Mexico and Canada make nice ones, and there are no weight and fineness issues. Canada's rounds have a face value of $5 CDN; for a while that provided a value floor.

 

Agree completely with the statement that PM's are "Insurance". We keep an accessible of well known coins for trade in the event of socio-economic collapse or unforeseen events. Like war. If you need cash to get out of Dodge, PMs will buy the ticket, when currency may not. It's an issue of "security". IMHO

 

Hey tekhen, Thanks again for thre bulliondirect link. I really like the site and even bought a few oz's on the Nucleo Exchange just to get a feel for it. I 'm not sure if I can get into to much about bulliondirect with out getting in trouble on here So I will leave it at that. But its my new favorite site.

 

I "discovered" eBay in 2005 when I inherited some coins and wanted to see what people were paying. At that time silver was around $6-$7 per Oz.

I noticed that I could buy uncirculated rolls of dimes, quarters, and halves (mostly OBW) dated mid-late 50's and early 60's at "melt". I also noticed that I could buy partial sets of sterling silver flatware for way under melt. I scooped up as many of those deals as I could afford!

The sterling deals dried up a couple of years ago, but there still seems to be some deals with coins. The melt price (@ $24/Oz) for a roll of uncirculated silver quarters/halves is about $175...and $85 for dimes. I suspect you can still find Unc rolls from the early '60s for that.

I've tripled my money on the rolls I bought in 2005 and love searching them when I'm bored. I found over forty (40) Type-B reverse Washington quarters so far. Most of the coins are MS63/MS64...every once in a while I'll get an MS65.

Anyway, that's how I like to buy silver. I like PMs that have potential "alternate" value...not just a PM bar.

 

To the OP, and as per Cloud's suggestion, if you are a long term holder the best investing advice I can give you is dollar cost average. Put aside a set amount to be used to purchase each month. Purchase this dolalr amount regardless of whether you think the price is high, low, or in between. This will ensure your weighted average is lower than it would have been buying XXX ounces a month. Unless you wish to risk money knowing that silver will be going up or down, dollar cost averaging is your friend. I have friends who have waited for a correction in a stock and missed 400% price appreciations. The same could happen to silver, and you would be kicking yourself when you could have bought at $24, or it could go down. Either way dollar cost averaging ensures you don't buy all of your stock at one price, like you have done now, and it forces you to buy at $25 if it goes up. Many people on this board have been waiting for a pullback on silver for a while, and now wish they would have made purchases in the last 6 months.

If you are sure you wish to invest in silver, that is how I would. I use the same method for stocks, since I pick which ones I want to own, but am not smart enough to know when the best price is.

 

No problem... I wish I would have known about sites like CoinTalk before I started... many a mistake could have been avoided!
I will still warn about "if you don't hold it, you don't own it" but if you cannot get to a local dealer BD is a close to it as I can find and letting your stack build and then have the metals sent will lower your buy average.

Again, I wish y ou the best!

 

Yeah, I just got 3oz's sitting there. I think when I get 10 to 15ozs thats will be my holding limit, maybe 20 ozs. I did go back to Ebay and bought some 90% coins and what was helpful was the coinflation site to help me with amounts of silver in the coins and I liked how you can enter the amount of of coins and it will figure it all out for you.