At your local coin dealer unless he charges too much. Don't buy it over the net as shipping fees kill unless you buy them in bulk but that's another major risk which I don't recommend.
You obviously didn't read exactly what I said. That is what they offer ME for Silver. YOU are correct. You would buy all that in bulk for 40% of the market price. That is what THEY do when buying from people because they have to make the profit, not me. I am NOT a jeweler nor a dealer, just a person. For me to go out and buy Silver, I would have to pay the market price from a dealer or jeweler who sells it for market prices. If I turn around and try to sell it again, the dealers would not pay me the market price because they again would have to resell it for a profit.
Kitco at "www.Kitco.com purchases Gold, I think at 1 percent over Spot and although I have never checked, they may purchase Silver at a similar rate! The only major problem with selling Silver to them, is that the shipping costs can be cost prohibitive. However, the "Fixed Rate" Priority Mail boxes would be the way to go as you can ship up to the maximum weight in these for one price. Of course, Insurance and Delivery Confirmation would cost extra but even then, you might get more for it from Kitco (if they buy Silver) than from a Coin Dealer ir Jewelry Shop. If it was me, I would sell to the Public at Flea Markets or set up at the smaller, local Coin Shows. Frank P.S. I would like to correct and clarify some earlier statements that I made per Cloudsweepers posts! If you are purchasing coins that already have an intrinsic (collectible) value over Silver, then these are the coins that I was referring to that would not make a good investment. With the current Market trends, these are the coins in which the Silver value in them will eventually outweigh the collectible value and since they were purchased at a premium over their' Silver value, they would not be good candidates for investment. However, if you are purchasing Silver Coins such as common date and well circulated Dimes, Quarter, Halves and even Silver Dollars at below or near their' Silver value which was and may still be below their' collectible value, then these are good investments considering the current trend of the Silver Market. I did not want to steer anyone away from purchasing Silver coins as an investment! I was really trying to clarify which ones not to invest in and those are the ones that have an intrinsic collectible value that is higher than the value of their Silver content!
OK, next question. What in your opinion is the choice artistic legal silver coin in the world today. Dave
One additional point I'd like to make about silver coins as investments.... Part of the process is to understand that buying and selling silver coins is sort of an arbitrage process. You want to buy them at a place and time where/when they are cheap, and sell them at a place and time where/when they are dear. If you buy and sell the same coin from the same dealer on the same day, the bid/ask spread will obviously make this a losing transaction, as others have pointed out. But if you hold the coins a few years, there is the chance [but never the guarantee] that they will go up in price enough to offset the spread. Or the spread will decrease. Or if you find a way to buy them below melt value [similar to what dealers often can do], it may be possible to sell them above melt at a flea market, through Ebay, by becomming a dealer yourself, or at a time in the future when silver coins might be more highly valued than they are now. This obviously takes a little patience, work, creativity and luck; but that's what is required to "invest" in silver coins. I also don't think that knowing exactly how you will sell the coins has to be determined at the time you buy the coins. If you buy well, and are patient, eventually the marketplace will enable you to sell well. People sometimes get into a fixed mindset that the way things are now is the way they will always be. That isn't necessarily true. So look for bargains and have some fun.
