I’m planning to visit some local coin shops this week to purchase my first pieces of silver but have literally no idea what I’m doing. I’m not sure if it’s better to buy coins or bars. Do these shops negotiate prices? Does the price depend on the quality and cleanliness of the piece or is it just standard pricing per ounce? Just a few of the things I’m thinking of to prepare.
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Price is per ounce + a “premium”. The premium is basically the fee sellers charge for being the middleman between the mint and the customer. The premium is decided by the seller, so in the past you could shop by looking for the lowest premium.
As silver supplies are becoming more difficult to get, premiums have risen. We are quickly reaching the point of “unobtanium”.
It’s good that your are talking to local coin shops. We have established a nice relationship with our local shop. I have also had good experience buying silver online through Money Metals Exchange as well as Miles Franklin.
Thank you for the info! There are several shops around me but one in particular has been in business here since the 80’s and seems to be the most reputable. I just wanted to have my wits about me before walking in.
People buy bars as a investment,people buy 1964 and earlier us coins for trading and prepping.
I have both.
Go to r/ wallstreet silver and read the DD posts. I know it's reddit,but a lot of us are their it's very based.
Stockpile food and supplies. Money and metals will be useless.
Lead will be very valuable
So i may have overlooked a use for the gold and silver also, but you still wouldnt want to be eating it😜