Can someone here explain what’s the best route to go here:
I hear about the three Bs to investing in gold/silver, but what, why and where?
For Silver: since it seems the market is being suppressed and tremendous upside potential exists.
Do you go through an ETF, what’s the typical fees, long term costs vs buying and having at home. I’ve heard when you try to sell if you don’t use an ETF there are fees associated with it due to it, true?
What to even buy, sterling, 99%, bullion (coins), bars, (forgot 3rd B) Are coins/bars that are way over spot worth it? Isnt a silver coin just worth spot, neglecting rare coins for collectors.
Why does US mint sell American eagle 99.9% 4x spot? Do they hold value? What is their intrinsic value?
Where to buy so I’m not paying way over spot for REAL silver. Ive read horror stories of folks trying to sell and being offered 1/2 spot, are there reputable places (Fk pawn shops) besides peer/peer to get at least spot value?
Don’t buy paper metals. If you don’t hold it in your hand you don’t own it.
Silver Eagles and Canadian Leafs are typically seen as premium coins. People know them well and I don’t think there’s any reports of fake or low quality coins coming from them. Other governments offer coins and of course anybody can make and sell one, but they have lesser reputations.
Bars are heavier, and their higher value makes them a little more difficult to use. They stack better, though.
Sterling can often be found at estate sales and auctions at good prices. I think it’s 90% silver. It can also have additional value to collectors. But oz to oz, you should be able to get about 90% of silvers market price. Figure it’s a bit harder to move and stack than a coin or bar.
It’s harder to find these days, but junk silver is an interesting play. Our coins used to have or be made entirely of silver. I think Morgan dollars are 90% pure, roughly 0.7 oz of silver. Pre-1965 dimes are worth about $2 each and would be really easy to trade if SHTF. When I was a kid my dad used to pay me to go through change to find the silver coins. I’d open a role, pull silver and roll it back up. He’d take the change back to the bank and get more whenever I felt like working.
I used the Coinstar machine at my Credit Union, and it rejected some of my coins. When I went to the teller he said the machine rejects pre 1964 coins because they have a different weight, so it assumes they’re counterfeit.
The teller said I could, of course cash them in for face value, but they’re worth more than that, so I hung on to them. A few weeks ago I was selling something to SD Bullion, and mentioned the 90% silver quarters I had, and asked if they buy them. They paid me $17 per four quarters, so my $4 in quarters turned into $68.
NEVER BUY THE EFT. NEVER. THEY ARE SCAMS. They are supposed to keep physical in their warehouses equivalent to their stated holdings. Not so … in their prospectuses, they caveat that they may not be able to acquire what they need. Yeah, so “paper silver” is 15x oversold actual physical inventories. That means if all contracts decided to settle for DELIVERY … 7.5% would actually get their silver. The rest would have to settle for cash.
I buy 1oz bullion rounds and 10oz bars. Easier to resell. JM Bullion cuz they give a veterans discount
Can someone here explain what’s the best route to go here: I hear about the three Bs to investing in gold/silver, but what, why and where?
For Silver: since it seems the market is being suppressed and tremendous upside potential exists. Do you go through an ETF, what’s the typical fees, long term costs vs buying and having at home. I’ve heard when you try to sell if you don’t use an ETF there are fees associated with it due to it, true?
What to even buy, sterling, 99%, bullion (coins), bars, (forgot 3rd B) Are coins/bars that are way over spot worth it? Isnt a silver coin just worth spot, neglecting rare coins for collectors.
Why does US mint sell American eagle 99.9% 4x spot? Do they hold value? What is their intrinsic value?
Where to buy so I’m not paying way over spot for REAL silver. Ive read horror stories of folks trying to sell and being offered 1/2 spot, are there reputable places (Fk pawn shops) besides peer/peer to get at least spot value?
Thanks :)
Don’t buy paper metals. If you don’t hold it in your hand you don’t own it.
Silver Eagles and Canadian Leafs are typically seen as premium coins. People know them well and I don’t think there’s any reports of fake or low quality coins coming from them. Other governments offer coins and of course anybody can make and sell one, but they have lesser reputations.
Bars are heavier, and their higher value makes them a little more difficult to use. They stack better, though.
Sterling can often be found at estate sales and auctions at good prices. I think it’s 90% silver. It can also have additional value to collectors. But oz to oz, you should be able to get about 90% of silvers market price. Figure it’s a bit harder to move and stack than a coin or bar.
It’s harder to find these days, but junk silver is an interesting play. Our coins used to have or be made entirely of silver. I think Morgan dollars are 90% pure, roughly 0.7 oz of silver. Pre-1965 dimes are worth about $2 each and would be really easy to trade if SHTF. When I was a kid my dad used to pay me to go through change to find the silver coins. I’d open a role, pull silver and roll it back up. He’d take the change back to the bank and get more whenever I felt like working.
I used the Coinstar machine at my Credit Union, and it rejected some of my coins. When I went to the teller he said the machine rejects pre 1964 coins because they have a different weight, so it assumes they’re counterfeit.
The teller said I could, of course cash them in for face value, but they’re worth more than that, so I hung on to them. A few weeks ago I was selling something to SD Bullion, and mentioned the 90% silver quarters I had, and asked if they buy them. They paid me $17 per four quarters, so my $4 in quarters turned into $68.
I'm torn between coins and bricks. Coins are easier for financial negotiations, but you also pay a premium for their smaller size.
Why not own both?
NEVER BUY THE EFT. NEVER. THEY ARE SCAMS. They are supposed to keep physical in their warehouses equivalent to their stated holdings. Not so … in their prospectuses, they caveat that they may not be able to acquire what they need. Yeah, so “paper silver” is 15x oversold actual physical inventories. That means if all contracts decided to settle for DELIVERY … 7.5% would actually get their silver. The rest would have to settle for cash.
I buy 1oz bullion rounds and 10oz bars. Easier to resell. JM Bullion cuz they give a veterans discount
Go to a bullion dealer in your area. Go with one who has been in business for awhile. Stay away from pawn shops.
Don't buy Sterling, it's too convoluted and bulky. You're better off with 1 oz .999 bullion coins
DO NOT go through an ETF unless you want to buy certificates that will be worthless when this all transpires.