hello everyone have a question about Apmex

im in ohio as well just south of columbus

 

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lots of rip off places we had one here they paid spot -700 on gold and spot -12 on silver

 

-12 on silver really isn't that 4 dollars an ounce thats stupid are you serious?

well i'm logging off here lucky thanks

 

yep im serious and for jewelry they would not weigh or test in front of the customer all done behind closed doors

 

so you didn't have one there that you would sell to that paid spot -12 is no where near spot price.

you figure they'd be smart enough to sell it back a website or something to make some money so greeedy but people are so gullible sometimes. especially the ones that aren't adapt to the internet

 

yep logging of now thanks

 

Question??? If you plan to purchase with a credit card, do you plan to pay it off right away? Credit card interest will make some expensive coins.

 

Well, some words of experience.

If you buy Silver when its at $17.00 an ounce, you can expect to $2 plus what ever shipping handling and taxes are involved.

When you go to sell silver when its at $17.00 on ounce, you can expect to receive $17 - $1 or $2 dollars. You may have to pay for the shipping to your buyer.

Now, if you buy numismatic Silver when silver is at $17.00 an ounce, expect to pay $17 plus $2 - $3 over spot plus any shipping, handling and txes.

US Mint numismatic items are a bit more expensive BUT they often have a retail market behind them. Meaning, I you buy for $39.95 plus $4.95 Shipping, you could recover your price plus some if silver goes up. I recall when silver was around $40 an ounce, the Heritage was offering $100 for each "Proof" Silver Eagle you could send them.

The downside to the above scenario is that what they paid $100, you could almost guarantee that they had buyers at $125. Those folks that bought at $125 will have to wait for silver to hit $40 an ounce before ever recouping their costs.

This could take 30 years and simply recouping your costs after 30 years is not really a wise way to go.

As for Jim Cramer? Be careful since its not really difficult to make $100,000 when your dealing with millions. When your dealing with $500? Good Intentions and self discipline aside, you could end up losing more than you could ever imagine.

Virtually EVERY business and/or person out there that deals in bullion, buys below spot and sells above spot. That is unavoidable.

I just had a sweet idea.

Take your $500 and buy a box of Kennedy Half Dollars. There IS silver in Kennedy's and some folks that are diligent at searching, pull quite a bit of silver out (90% and 40%) at Face Value.

Of course, if the $500 you have is simply a $500 limit on a credit card, then this won't work.

If you're in the market for silver and want it as cheap as possible, try "finding" it in Kennedy's or random banks instead of buying it. When you buy it, you'll always pay a premium which you might not get back.

 

again thanks again for detouring me but just not gonna happen and i rather not look for pre 1965 quarters at banks ... just not smart for me since i don't have a car or liscense to drive up to my bank every day. kennedy half dollars if you wouldn't do it why would i. i bet your not even happy you have to take your earned money and put into silver to pass down to your kids. i bet none of you are really . i know cause my farher notriously lost hundreds of thousands playing the stock market. not that much but quite a bit haha. and yeah its not gonna drop below 16-25 dollars an ounce we all hope and stay there. and of course you all hate the fact that could go up 150 an ounce again and you'll sell yours which you would hate and you want to get back into some kind of game.

 

you are better off getting generic silver rounds. ASE's and Canadian maple leafs premium is way high and you will never recover that premium unless silver goes to 150 an ounce. I do not for see it getting that high any time soon. silver is not a get rich quick thing. silver has been flat for quite awhile.

 

yeah i have 9 international trade silver .9999 trade coins the generics from wholesalecoins direct there really pretty more pretty than the american spirit eagle etc.. and canadian maple leaf

as far as i understand the generics are easy to sell and there cheaper no matter where you get them . generics it shall be i think generics are great.

and yah my credit is 4 percent interest per payment its not like 19.99 apr i have a nice relationship with my credit card company

 

"investing" on credit = bad idea.

 

Oh, wow.

I understand that you've dug yourself a deep hole. You're going to have to work a lot harder than most of us just to break even. I wish you the best with that.

Having said that, though -- it's one thing to own up to your mistakes, and another thing to decide you have no choice but to keep making them.

If you "have trouble hanging onto money", fix that first. Buy into investments that don't let you pull your money out on a whim. CDs (certificates of deposit) come to mind. Trust me, if you've got a bad problem hanging onto money, the 20% haircut you take selling back silver won't be enough to keep you from cashing it in when the urge gets overwhelming.

What I'm seeing in this thread is that you're receiving good advice, and you're reacting to it with anger and hostility. Frankly, that's doesn't seem like a very good sign. Are you looking for advice, or are you only looking for people to tell you that a bad idea is a good one?

 

Tom was trying to save you money. Let us know in 1-2 years how badly this went, making sure to include the interest in your loss tally

 

Buying silver with a cc? Yikes!

 

4 percent interest per payment (assuming monthly payments) is a 26% apr.

A $500 purchase, paid off over one year (12 payments) plus paying 4% of the outstanding balance each month results in interest payment totaling $131.01 which is a 26.2% apr. So much for the nice relationship with the credit card company, well I'm sure THEY like it.

 

Some people are beyond help, and this OP seems to be one. He is awash in bad choices, bad decision-making, bad thinking, and a bad attitude.

Triage - some people can't be saved no matter how hard you try.

 

It is OK to do that for a convenience, but ONLY if you can pay off the entire balance the first month before any interest accrues.

 

This seems like an oxymoron. If it took you a long time to save money in which you mean pay off a prior credit card balance to get your available credit back to $500. I'd have to agree with others that you probably shouldn't be buying coins with it. What's the interest rate on the CC? How long will it take you to pay off that charge and interest including compounding? Will the coin you buy on credit (debt) now be able to be sold for a sum that is greater than the total cost plus all the compounded interest later on?

 

The guy is obviously in love with the idea of owning silver at all costs. He is rapidly losing altitude, the rudder is gone, the wings are tearing loose, and he's on fire. All that's left is the crash-boom.

Unless he realizes that the guys trying to dissuade him are his parachute.