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Is silver a foolish buy right now?
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<p>[QUOTE="Gdub76, post: 13175220, member: 143792"]The big metal dealers are looking to capitalize on people's ignorance. Sellers ALWAYS ask for more than spot price and buyers ALWAYS offer less. Spot price, or 'melt value' if you like, is nothing more than a benchmark for the market. My humble opinion is that older gold and silver money (coinage) has more value than spot price and is more likely to hold it's value over time. Now that all Morgan Dollars are more than 100 yrs old, even allot of the worn coins sell for more than spot price.</p><p>Storage is another consideration. $1800 of 24K gold takes up allot less space than $1800 of pure silver. Silver Eaqles and Canadian Maple Leaf's are guaranteed to be 100% pure, so they cost more. Secondary market coins and bars are buyer beware... Shop the online auctions to get a feel for prices and look for the occasional good deal. Don't forget to include the Buyer Premium in your costs.</p><p>Make sure you do ALLOT of research before you invest your hard earned cash!</p><p>Remember, bullion investing is always loooong term. Good luck!![/QUOTE]</p><p><br /></p>
[QUOTE="Gdub76, post: 13175220, member: 143792"]The big metal dealers are looking to capitalize on people's ignorance. Sellers ALWAYS ask for more than spot price and buyers ALWAYS offer less. Spot price, or 'melt value' if you like, is nothing more than a benchmark for the market. My humble opinion is that older gold and silver money (coinage) has more value than spot price and is more likely to hold it's value over time. Now that all Morgan Dollars are more than 100 yrs old, even allot of the worn coins sell for more than spot price. Storage is another consideration. $1800 of 24K gold takes up allot less space than $1800 of pure silver. Silver Eaqles and Canadian Maple Leaf's are guaranteed to be 100% pure, so they cost more. Secondary market coins and bars are buyer beware... Shop the online auctions to get a feel for prices and look for the occasional good deal. Don't forget to include the Buyer Premium in your costs. Make sure you do ALLOT of research before you invest your hard earned cash! Remember, bullion investing is always loooong term. Good luck!![/QUOTE]
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