silver bullion investing

Hi, does anybody out there know anything about silver investing? Does anybody know any good books, website, etc? I was thinking of buying from NWT Mint. I was going to wait for silver to go back down to 4.00 to 4.50 an oz but from what I see, that is never going to happon.
thanks

 

Log in or Sign up to hide this ad.

well, i dont know much in the way of books.......but at the current price of $6/oz......Id spend 1/3 to 1/2 of what you have on boullion.

If the price drops.........spend another 3rd to half of your remaining amount.
It it jumps up to near over $7.50 or so......dump what you already bought and wait it out......or look at platinum instead.

I really wouldnt count on silver going too far below $5.50 or so...
I was reading and it seems the price has been being manipulated a bit the last few years and like a couple days after that report came out the silver prices started leaping.

If thats the case, then I wouldnt think it would go back down to that level unless mebe production is increased or something and honestly from what ive read the demand is way higher on silver than the supply..........it could very well end up above $10 or so in a while.......

 

So what price do you recomend buying at? Right now it is at 6.05 an oz. Also who do you sell to? My coin shop buys silver for 1.00 less and sells them for a 1.00 more than the spot price. Should I sell to them or is there somebody else that has better deales?
thanks

 

First off, avoid anything smaller than 10 oz bars........the premiums will kill you on the 1oz items.

If its boullion youre interested in, dont buy eagles...........the premiums are too high being a collectable coin.....

Buy 10 and 100 bars of any of the top names, Engelhard, J&M and such.
As long as its stamped .999 fine silver you shouldnt have any trouble selling.

Kitco.com buys for a great price........but shipping a lot of heavy silver would take a lot of your profits i would think........Id only deal with that if you were selling Gold or Platinum......

Nows a great time to buy.........just dont dump all you have in it......
If the price goes up and you can make some money on what you buy now thats great.......
If the price drops after you buy then you hold onto what you bought and then buy even more with what you have left and wait......the price will go up again..........it may even take a long while.

You can make a lot of quick money sometimes in metals........but Id only play around with it if youre also willing to buy and hold out for as long as it takes to make it.
Your not going to ever probly get rich off silver and stuff unless youre rich already and have millions to invest.......

 

Should I buy from NWT Mint? http://www.nwtmint.com/
So I will buy 50 oz of silver. I will have to wait a while because my coin dealers pay 1.00 less then spot price per oz. Is there any other way that they don't take so much? Do you know any other dealers that sell silver bars at a good price?
thanks

 

Hey there,
It seems that we have covered this. Buying 50 ounces will be a serious waste of your time and resources if silver doesn't go up in melt at least by a $1. an ounce. NWT will be selling Monday morning at $7.25 an ounce. If you were to buy and call our office Monday morning after buying for us to buy your new silver, I would offer you $5.35 an ounce.
Now as far as bars are concered, most dealers shy away from this. Yes they are nice, but they trade at very low premiums. Usually ten to fifteen cents above melt.
As I have said many times now, if you want good prices, be prepared to spend 5 thousand. If you have that kind of resource to put in silver, email me direct and I will sell you silver every day. Having said that, do not waste any dealers time asking for a discount for less than 500 ounces. Because that is exactly what it is, a waste of time.

 

go to this page

https://online.kitco.com/scripts/selltokitco/shiptokitco.pl

in the ''your instructions'' box click ''click here for prices''

Notice they are paying $295.00 for your 50oz bar right now.........thats a very good buy price...... nearly melt value at fridays end of $6.05....

If the price say were to really jump high again.......it may be worth your while to sell to kitco....

just shop around when youre buying and selling

I sold platinum here recently and one guy offered me $100 less per oz than another did.........

You just have to shop around till you find whos going to pay you the most.
Kitco does seem to offer some great buy prices tho.

And yes.......ive bought silver from NW before......its worth just as much as any other boullion.....

 

Sorry to disagree.......I suggest you contact Allens Coins in Columbus Ohio.....
They are always eager to buy and sell 10, 50 and 100 oz bars and i just made a hell of a lot of money off the silver and Platinum i just sold them.........
Enough of a profit to buy a new van as a matter of fact.

 

I didn't say that any dealer isn't happy to sell a single ounce, but not at melt or below. For that kind of discount, large volume is needed.

 

sorry......i need to add also that Allens paid me $6.00 per once when the current price was about $6.25 per ounce..........
So Im guessing they would offer him about $5.75 right now

 

That is my point exactly. If you were to buy from this dealer, you would not get sell offers at $5.75
Now if you walked in and bought 500 ounces, you would get it a lot lower than the person who buys 1 ounce.

 

granted theyre not going to give the metal away when they sell........but obviously no one would be silly enough to buy from the same person they sell to unless the price went thru the roof or he had no other choice.

I bought my metals from ebay and other sources here and there.......looking for deals and such.

If Allens is giving me nearly melt to buy.....then i can assume theyre charging a heavy premium when they sell.........which is why I dont even bother to ask them their selling price.........I buy elsewhere.

 

Which is why I told the gentleman not to bother with 1ozers.

I had no luck with them at all.
Its obvious if hes buying at $6 hes going to have to wait for the price to rise to make any money off of it.....but I have even bought 5OZ bars that i made about 14% profit off when i sold them.

the only things i ever bought that did not turn a buck later were the 1 oz bars and rounds. especially the Eagles.......

and again..........anyone trying to make a quick fortune in metals would have to be rich to begin with....
I think hes just looking for an investment.........as such........silver in 5 oz and above and any platinum have always done me good

 

We move a lot of silver. All of it in the form of one ounce eagles or 90% bags.
Our buy price doesn't change. It is bought at a small percentage below current metals market.
When selling, 1 to 499 ounces, get the exact same price. Right around $2.00 over melt.
When a dealer or customer wants a better rate, it is based on increments of 500 ounces.

Not to offend anyone, but we move thousands of ounces a week. To offer a discount for someone to buy 50 or 100 ounces, just isn't worth the time.

The majority of dealers (us included) buy and sell silver to the public at the same prices. It is very rare to see us more than a few cents apart in price. Take a quick look through any coin publication, and you will see all of us selling within pennies of each other.
We buy at prices to make money on. Bullion is the least of our profits. I work harder on making 60 cents an ounce on bullion than I do selling rare coins.
We offer bullion because a few customers want their silver eagle. Other than that, most bullion is traded back and forth between dealers. We use it to buy coins.

 

I guess maybe Im missing something here......
I am assuming our friend here knows that hes not going to buy today and sell for a profit tomorrow.

That was my assumption and maybe it is incorrect.

In order to do that and not lose, yes hed have to buy a truck load and get a great deal...

It seems to me hes asking about buying in smaller quantities (say .....50 oz or so) and whether or not this is a good investment.

As a BUYER who has NEVER lost a cent on anything bigger than 5oz bars I can assure this man that he does not need to buy a truckload to not lose his back.....

All he needs to do is buy and have patience and laugh at everyone else who is panicking and selling when the market drops 10%..

Silver Art Bars.........the metals market requires shopping around for the best prices........keeping your eyes open to places like ebay where I have at times bought for less than melt .........and most of all patience when the price drops........dont panic........metal are changing every day in price and it make take a couple years before the next big increase........
But youre not buying 50 ozs at a time for instant profit Im sure..........you seem to be buying for more of a long term investment.

If youd like I can email you and show you more specifics as to what ive done...

 

The other member is looking to become a silver bullion dealer.
Becoming a dealer requires buying in quantity to insure profits.
Once a certain amount of inventory is on hand, then buying single coins and small collections become possible.
For collectors, I would never suggest that they buy any metals or coins for investments. While some make money, most lose.

 

What is melt price?
thanks

 

Now I am confused...............in post #5 its only 50 oz that is being discussed........
I based my words on the assumption that I was talking to an individuall who was buying 50-100 oz at a time as a BUYER/investor, not a dealer

 

Melt price is what a refiner pays for metals to melt. It is based on spot prices.

 

Does Allens Coins in Columbus Ohio have a website?
thanks