There are generally 3 schools of thought in a buy and hold scenario. Buy as close to spot as possible, generally smaller weights 1oz to 10oz and make sure they're hallmarked .999 silver, or buy recognized government bullion, usually something from where you'll be selling. Some would also say 90% is a good idea also. The buy and sell spreads are considered the key. Go to Provident, Apmex or other web dealers and see what the buy sell spreads are to get an idea.
Dead serious, pal. Nothing is as easy as you want it to be when you want and all on your terms. Don't fool yourself.
Silver eagles should be tested just as much as any other type of silver bullion. China is producing lots of fake silver eagles. I've never had a problem selling generic bullion for over spot.
Indeed! Know your sellers! Due diligence should never be skimped on, which just goes to prove my point about the earlier presupposed ease of unloading metals when you need to. Just because there are technically advanced methods available, it still doesn't save you time if you also have to vettthose you are dealing with. I have also had no trouble trading generic billion, but I also already had longstanding relationships with local dealers and wasn't in a rush to get deals done. I will also say that the dealers always prefered Eagles and such denominated bullion over generic bullion, and always asks if I have that when making a deal.
I sold off some stuff lately and was surprised at the difference in enthusiasm my LCS had for the gov't mint products versus private rounds and bars. Changed my buying for the future, for sure.
So the buyer was excited and that's nice, but what was the price difference they paid for govt vs generic?
isn't something like a kilo bar going to silver no matter what? seems like big bars are a good way to go.
"isn't something like a kilo bar going to silver no matter what?" >>DOES NOT COMPUTE>>>Fry Daddy Jr's FRIED>>>SCRAMBLED>>>AND THEN SOME!!!
A good example on why some collectors buy generic rounds is the Zombucks. If you get in on the ground floor and you buy when the price is crazy stupid then you have a good chance of making a profit. If you buy at the tail end of the craze then you end up a day late and a dollar short. You gotta pay attention to the trends and what's hot. In other words you gotta be careful when you choose to buy generic rounds cause you may lose your shorts.
anything like that will be widely counterfeited. but end times fantasies and delusions are always a personal thing.
If only you had two cents for every two cents you offered, your stack could have been that much higher.