Don't invest in any silver form that needs to be assayed before it can be converted back to legal tender.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
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 situationLive 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 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 !
Today's spot is $19I 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
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.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?
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.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.