Buy some silver?

[smith1961]

This old pirate wants to have about $2000 of his paper savings converted to silver. So what to buy? Coins, rounds, something else?
What say ye?

 

[BROKENBEAR]

I bought years ago US Silver Eagles thinking it would "trade" better in a SHTF scenario...
So today I am much more "read" on the metals market and will share this ..you will pay a large premium for the US Eagle(premium meaning purchase price in excess of the actual spot silver price on the day of purchase) ..You will pay less premium for 1oz rounds as opposed to the US Eagle
IF you held them and then decide to sell them ..CURRENTLY you would not nearly recover the large premium paid for US Eagles but would recover by percentage a much large portion of the premium charge for 1 oz rounds (just make sure the rounds are from a known company/mint)
Then the other consideration is "junk silver" which is simply bags of pre- 1965 silver US coins but here you have to know what the bag has in it as silver content was not exactly a fixed % ..see chart

Silver Coin Melt Values with Live Silver Prices - Coinflation

Live silver prices and updated silver coin values of U.S. and Canadian coins. Discover the current worth of your coins and calculate accurate coin prices before buying or selling.

www.coinflation.com

I have not bought or sold metals in 20+ years because I am sitting on all I care to have tied up in a what if situation
I have to say also I am not fully bought into the "metals protect your dollars" since there is not a boon to gold or silver prices currently ..and I suspect there are a lot of things that are setting the market prices on gold and silver that are way above my pay grade
The simple fact is both gold and silver are lower today than a year ago same time ..so how is that protecting me from today's inflation?

Just saying go easy young man ..treat it like buying a stupid gun buy ..one you don't really need and not really know what you will do with it once you catch it ..if you limit yourself to that size budget you won't go wrong !

Bear

 

[Bad Barlow]

I bought years ago US Silver Eagles thinking it would "trade" better in a SHTF scenario...
So today I am much more "read" on the metals market and will share this ..you will pay a large premium for the US Eagle(premium meaning purchase price in excess of the actual spot silver price on the day of purchase) ..You will pay less premium for 1oz rounds as opposed to the US Eagle
IF you held them and then decide to sell them ..CURRENTLY you would not nearly recover the large premium paid for US Eagles but would recover by percentage a much large portion of the premium charge for 1 oz rounds (just make sure the rounds are from a known company/mint)
Then the other consideration is "junk silver" which is simply bags of pre- 1965 silver US coins but here you have to know what the bag has in it as silver content was not exactly a fixed % ..see chart

Silver Coin Melt Values with Live Silver Prices - Coinflation

Live silver prices and updated silver coin values of U.S. and Canadian coins. Discover the current worth of your coins and calculate accurate coin prices before buying or selling.

www.coinflation.com

I have not bought or sold metals in 20+ years because I am sitting on all I care to have tied up in a what if situation
I have to say also I am not fully bought into the "metals protect your dollars" since there is not a boon to gold or silver prices currently ..and I suspect there are a lot of things that are setting the market prices on gold and silver that are way above my pay grade
The simple fact is both gold and silver are lower today than a year ago same time ..so how is that protecting me from today's inflation?

Just saying go easy young man ..treat it like buying a stupid gun buy ..one you don't really need and not really know what you will do with it once you catch it ..if you limit yourself to that size budget you won't go wrong !

Bear

Don't invest in any silver form that needs to be assayed before it can be converted back to legal tender.

 

[krw]

And there is a BIG diff between buying and selling precious metals. Example buy 1oz rd, then sell it with spot price same. How much money did you lose. I buy 20 Current year ASE’s just because ea yr, but thats all I want

 

[Mobuck]

I dunno. Back in the 'Y2K' excitement, I bought 200# of nickels. I'm guessing they're till worth whatever I paid for them. Y2K was a flash in the pan.
My theory is: Even if you have 'precious metals' as a hedge against monetary collapse, you still have to be able to use those precious metals to buy stuff. As soon as someone discovers you have something of value in a troubled time, you become a target. The first time you show up at some local weasel den to buy gas with a 1/4 ounce silver 'round', word will spread.

 

[Dan in MI]

I an in the junk silver group. Easy to get, easy to convert, can buy or sell in small quantities therefore not showing your hand in a buy or sell scenario. Also low, or no premiums. In a shtf time a shiny Eagle is no better than a beat up Morgan or Peace dollar.

 

[Pat-inCO]

My hesitance on purchasing gold/silver is the number of TV ad's you see. They try to make it
sound like you will gain significant value simply by having the coins. Their frame of reference is
the gold/silver price back in the 80's. - - - My bet is that now is not a good time to invest.
I'll even bet that is why I don't have any.

 

[Bob Wright]

Over the years I gave my wife silver bullion coins, American Eagles as well as foreign. Most ran around $11.00 ~ $ 15.00 per coin. She had a nice collection to admire from time to time, much as I did my pocket knives. I still have her "treasure chest" full of silver coins. Maybe one day I'll cash them in, but not now.

Bob Wright

 

[G2]

Most of the stuff is “COLLECTOR” quality, Big premium that is hard to recap, EASY to sell at the current spot price.

Pre 1965 Silver Coin “Junk Silver” no real premium, is real easy to sell at a fair current day value.

American Silver Eagles, really nice coin, but as mentioned, comes with a premium, that most of the time can be difficult to recap.

A good website that has current Sell & Buy prices, changes daily and they are real easy to Buy & Sell to. They also have a lot of good education on there.

golddealer.com

 

[krw]

I hav bought quite a bit of silver off Ebay. Seller pays the 13% fee for selling and PP. If I chose to sell today I would take a lickin. One time I bought $2k worth to trade to Preppers and Doomsdayers at gun shows. I broke even, didnt lose any money, but I aint goin down that Rabbit hole again. To mich stuff I can trade on and make money without tradn in silver

 

[jimbo1096]

I don't think you'll ever make a bunch of money on silver. I have silver coins I'd save when I found them in my change. Dad did also, I have his now, and my grandkids will probably get mine and Dad's. I buy occasionally when the mood hits and I have spare cash. Now mainly interesting silver rounds, Canadian maple leaf, something commemorating an event or place. Just like the feel and heft of a bag of silver. Kinda makes you feel like a pirate.

 

[Bad Barlow]

I hav bought quite a bit of silver off Ebay. Seller pays the 13% fee for selling and PP. If I chose to sell today I would take a lickin. One time I bought $2k worth to trade to Preppers and Doomsdayers at gun shows. I broke even, didnt lose any money, but I aint goin down that Rabbit hole again. To mich stuff I can trade on and make money without tradn in silver

Today's spot is $19
Silver Eagle is $32
Run Away!Run Away!

 

[Joe Chartreuse]

This old pirate wants to have about $2000 of his paper savings converted to silver. So what to buy? Coins, rounds, something else?
What say ye?

I own both silver and gold. I learned to stay away from platinum. Don't buy coins. If you do you will pay a larger percentage more than bullion bars of the same weight. I have looked around and the place that I have found that takes the smallest premium over the market is SD Bullion. Keep in mind that silver is a slow mover. If that's what you want than it's fine. You may want to consider gram bars of gold instead. The little bars are easy to sell - I think the gram price is currently around $55. Gold moves a bit more. Of course it can go up and down, but in the long run it has to go up, driven by inflation- as will silver.

 

[jimbo1096]

 

[Bad Barlow]

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I have some coins whose aesthetic appeal,numismatic value and messaging FAR exceed their precious metal value!

 

[Mauser9]

Inherited some of those old half dollar coins years ago. Later sold em for cigarette money.

 

[ibboatin28]

Something interesting I found is that if it’s not tangible money that you can spend there’s no tax on it in many states. It helps with the spread.

 

[KIR]

I know, it's just the movies, but, I don't see precious metals being used as barter like the basic necessities of life, ammo, food and water. Location is important. A nearby river with constant water sources from melting snows, that would bring animal life to hunt for. The art of reloading would be important skill to have. Just a thought.

 

[Bad Barlow]

I know, it's just the movies, but, I don't see precious metals being used as barter like the basic necessities of life, ammo, food and water. Location is important. A nearby river with constant water sources from melting snows, that would bring animal life to hunt for. The art of reloading would be important skill to have. Just a thought.

If SHTF, I'd rather have a bag of beans than a bag of silver.And something to discourage others from trying to take my beans.

 

[Mauser9]

Yeah some chow and maybe a 9MM to protect your hide and chow.