Gold or silver?

I've been wanting to invest in either gold or silver (Not a lot of money, about $100. I might be investing more later on.) and I just can't find any place that will tell me what I should buy. Some sites say gold will be going up and other sites say silver will be going up... I don't want to invest for more than a year... In my opinion I think Gold will be going up since it's been loved by everyone on the planet and silver might go up but not that much... What do you guys think? Which one should I buy? Also what is the current rate of silver and gold per 1 oz? One more question, If any of you live or have been to Jacksonville Florida where can I get gold/silver for a reasonable price and from someone that you know is a trusted dealer? Sorry about all the questions, and Thanks for taking the time to read all this!

Almost forgot what are the dimensions of a 1oz Silver/Gold bar?

 

Log in or Sign up to hide this ad.

Gold is 1325.50 and silver is 21.84 per ounce. For 100 bucks I'd probably go with silver. You can't get much gold for $100. Probably 2 grams at the current price. There is more profit to be made in gold but I'd wait until I had more than $100.


Sent from my iPhone using Tapatalk

 

I'll go with silver then. Will silver be going up any time soon? or will it just keep going down like it has in the past few years?

 

Sorry. I have no idea. Like you said, everyone is saying different things. I think it probably stay around where it is for awhile.


Sent from my iPhone using Tapatalk

 

With all due respect, $1oo isn't enough to even be considering buying either if hoping for a worthwhile one-year return, and even then. If you want a certain coin or a little metal, buy it for this reason only and not with the hopes of profit. Short of a significant increase, when all is said and done, you're more likely to lose.

 

Join the coin club in Jacksonville. It's a huge, hyperactive club for a city that size. Auctions, exhibits, discussions, incoming experts, etc., etc. I lived there from 1988 to 2003. If they still have that big flea market that sets up alongside I-10, way out west of town, put $100 in your wallet and a card hanging out of your shirt pocket that says, "I buy old coins," and go wander around every weekend. However, I agree with a prior poster who thinks investing $100 isn't worth the time and energy to make $10-20 down the line.

 

Yeah I know $100 is not worth investing but it is a start, I'm think about putting off $20 to $50 every paycheck for silver IF it is worth it. Right now I only have $100 to spend on anything I want.

 

Waiting until you have $300 gives you a little bargaining power. I'd still rather prowl the flea markets or bid in coin club auctions than any other way of acquiring items in the $10-50 range.

 

well if your interested in just buying some silver rounds or bars heres a few sites you can shop around on http://www.moderncoinmart.com/ http://www.apmex.com/
http://www.providentmetals.com/ the modern coin mart site offers free shipping, all 3 are reliable...

 

Start stacking. Silver or gold no matter. You will pay a small premium for either. And will have to sell at a loss if held for only a short time. (example 6 mos year). I started stacking at $900 spot price for gold. Bought all the way up to $1900.. Recently watched the bottom fall out, more recently an uptick. Investing in the metals is long term in my opinion. Part of a portfolio of investments. The joy of physical possesion is obvious when in hand. Google local coin clubs in your area and sit in on one of their meetings. They will answer all your questions. Bring your$100 and you might leave with some metal at a very good price.
Some people say buy in the dips. I say stay broke buying metal. Good luck

 

Thank you very much! But how will I know if I get real gold/silver? I've watched many youtube videos were people got scammed with some sort of metal that was gold plated and weighs almost the same as gold... Are there any trusted dealers here in jacksonville that sell real silver/gold? I really don't want to be scammed on the first time buying gold/silver.

 

Wise words from Thomas Austin. My "investment" plan is not for everybody, but 3 times in the past 4 years I have consigned portions of my collections to Stack's, they have achieved good results, and every dime they sent me went into junk silver. I did not worry about dollar cost-averaging, and I never went back to any Seller who tried to steer me into U.S. Mint products, proof sets, hockey-puck rounds, tap-dancing ingots, or anything else that I would someday have to unload at spot, despite the fact I had paid a hefty premium for such-and-such an item. Junk silver, period.

Everybody recognizes silver dimes, quarters, and halves. You don't have to convince any Buyer it's "Real". And it's already in small, convenient denominations/weights. Pride of ownership is not a factor in my current investing. And I am less concerned about confiscation than I would be if I owned gold. It's all going to end badly for the U.S., although we "might" get off easier than Europe, where the middle class will be savaged again.

 

If you want and can afford it, buy it, but just don't expect a worthwhile return unless metal increases significantly, which I personally do not see happening anytime soon. The fact that you capitalized "IF" suggests that this money is not something you're willing to risk, so if you're able to stash come cash away each week, there may be better options.

Buy from reputable sources or find someone willing to walk you through, but understand that if you buy retail and (possibly) have to sell wholesale, you're already in the hole as the metal will have to increase X amount before you can just break even.

The above post makes it clear that you're new, so please consider slowing down and familiarizing yourself with your new interests before jumping in.

 

Invest in a digital scale. Bullion coins/bars have specific dimensions and weight. I have weighed many a purchase.
Doug444 hit it on the head with how I got started stacking. 90% silver coins. Everybody recognizes the coinage world wide. 1964 and older dimes, quarters, halves and dollars. A small concern however is with the heavily worn coins. 90% silver coins is how I started. Typical these coins can be purchased with little or no premium over spot. www. kitco.com

 

if you buy online from 1 of the dealers i posted you will be getting .999 fine silver, i think those are like the top 3 online dealers, an modern coin mart is in sarasota florida, if thats near you then you could go check them out, but like anywhere you will be paying a few dollars over spot price, so unless silver skyrockets you wont make a decent profit anytime soon...

 

Also, if you're in a major metro area, watch CraigsList, every day. I see plenty of guys who bought $500-1000 worth last year, now they're in the hole by 10% to 20%, and all of a sudden, they got medical bills, or the car breaks down, or there's a new baby, etc., etc., some unexpected chain of expenses that sabotages their "investment" efforts. Don't invest if you think you'll have to sell within 3 years. I probably will NEVER sell my junk silver; I'll die and it will go to my clueless heirs, good luck to 'em, they're sweet silly trusting people who think I'm nuts. That's OK. I promised myself I would take care of them long, long ago.

CraigsList, meet at McDonald's, and don't be in a big hurry to leave; have a long leisurely half-hour meal. Some crimes happen in the parking lot AFTER the transaction.

 

Regarding ingots, bars, and rounds -- some day your prospective Buyer will ask all the questions and demand all the guarantees and think of all the excuses that YOU are prone to, today. You will have to convince him your stuff is real. Good luck with that. A coin shop may not be so picky, after all it's their business and they do it every day, and know all the tricks, but their expertise will cost you, they will pay less than Joe the truck driver or Frank the software salesman...

 

Hate to play devils advocate but it may not be worth it. There is no guarantee that silver/gold will go up from where you buy in or that you will be able to make a profit when liquidating. You could potentially lose money especially with the small sums of money your talking about. Any smaller gold coins usually have a high premium which is rarely recouped when selling back unless to a fellow collector, etc versus a dealer. If you were to buy silver eagles you could potentially avoid the loss of money simply from premiums but again with the premiums you'll pay you'd be lucky to recoup those premiums when selling and that's if the price stays the same. Personally considering you said you 'don't want to invest more than a year' I'd find something else to invest your limited funds in. With PM's imo it's better to have a long term hold view versus a short term hold and pray they make steady gains for when your looking to cash out in a year.

 

Blissskr has the right idea. As I posted an hour ago, I think it's more fun to prowl the flea markets and look for coins you can flip for double what you paid, on your way to turning that $100 into $300 and then into $500. But that requires a good deal of knowledge. What you find, you expect to sell at your local coin club. What better place to sell coins (no postage, no commission, plenty of experts lurking around a SAFE place) than a room full of 30 or 40 or 50 coin collectors, all hot to trot? Note, not so safe, walking back to your car after the club meeting's over...

 

doug444, how would I tell people at the flea market that I am buying old coins and do people just come to the flea market with a bunch of old coins to sell?