I'm an investor; I have a Roth IRA, Thrift Savings Plan, individual stocks, and a 401k. But I'd like to start stacking just to have more diversity. How does Silvertowne compare in regards to gold and silver? I wouldn't be interested in the other metals.
They are usually higher IMHO. Go to www.comparegoldprices.com or www.comparesilverprices.com and see comparisons of good vendors. I have no affiliation with either site, just recommend it for newer buyers of PM.
I still never understood investing in metals unless you can buy Millions of $ worth then store them in your possession - no paper certificates saying you own it. Aren't you really playing Russian Roulette with bullion? And unless you started stacking 10 years ago when silver was under 4$ an ounce how now a days can you think it is an investment as compared to getting a financial adviser who makes money IF you make money and him/her not making money just from sales?? Always wondered that. Don't you have to buy silver/gold at ask + the selling companies premium? How do you ever make that up?
I guess it all depends if you believe the stock market and the dollar will crash completely . I don't but that doesn't mean I don't want a store of silver and gold just in case . I bought some bars at Silvertowne when they had the lowest price about a year ago .
A- I don't pay a financial advisor anymore because I finished my M.A. in management, which included a whole slew of financial training. So I'd be wasting money to pay someone with less education than me on the subject to tell me what to do. B- I don't think you're playing Russian Roulette with bullion. It's a matter of knowing when to sell. Metals will go up and down, so you buy low and sell high. Leave it sit long enough, and the value will ultimately appreciate.
Can't go wrong with jmbullion.com especially if you want monster box quantities. They're fast, reliable & usually the least expensive or 2nd least. The comparesilverprices.com website is a great asset
I went about it all wrong as usual I buy and bought Silver as high 24.00 range down to whatever the low was 13.80..... 3/4 of it below 18.00 so if SILVER ever gets to 23 or 24 a ounce.. One could sell 500 or more ounces and might make some doe ray me and with cost averaging not get rich but had some upside to it. I have read and reread allot of post on this FORUM by people way smarter knowledgeable, about coinage than I and still do I find myself still looking up terms used by these people, trying to play catch up but when it comes to selling, making money, trying to profit off it.... these collectors or hoarders with completely have different ideas as why silver is bad investment and so on.. I like the shinny metal junk coins is what I usually buy or slab coins depending on the purchase.....shipping....
As far as silver bars go, before you buy you need to consider what they will sell for. For the most part only Jonhson Matthey and Engelhard are considered premium bars. Everything else is considered generic so getting your silver at the lowest possible premium over spot is key. Silvertowne is considered generic, nothing wrong with that but at best when selling you will get spot or below depending on the buy sell spread. Some people market hard to find or rare bars and add on crazy premiums over spot but you have to remember that its only worth spot price and recouping those premiums will only come if you can find a specific buyer or spot prices have come up to match your initial investment cost. Don't put emotions into buying silver bars, because at the end of the day they are only worth melt value. Buy on the dips!
Provident Metals and JM Bullion are the best sites in my opinion. I Go for Silver Rounds because I can get them on those sites for $0.75-$1.00 over spot and sell back to them for spot. Figuring out where you can sell back is a HUGE thing to consider before you even buy. Exit Strategy is of paramount importance. I have dealers that will buy rounds and bars at spot price and ASE's at $1.50 over. At Provident they will buy back at spot and even better premiums for bullion coins. The only drawback there is you have to sell $1,000.00 or more for them to buy and you need to pay for shipping.
JM Bullion has a deal right now for ten ounces (Sunshine Rounds) at spot value. It's one per household though. I bought that deal 3 days ago. It's a great deal because it's like buying when spot is $15.45 because you usually have to pay a dollar premium typically. They are advertising on JM and Provident for Black Friday and Cyber Monday specials. They are not making it clear what they are, but Provident is saying 75% off premiums for selected Items. Provident already has good deals on Prospector Rounds and Canadian Superman Coins.
I prefer Rounds because they are easier to stack in tubes believe it or not. 10oz Bars come in a plastic bag that makes it cumbersome to stack correctly. If you want ten ounce bars Provident will have them tomorrow at around $0.25 cents over melt.
