I would love to buy gold right now but thanks to the dipshit in office I am unable to drop that kind of money. What I have worked into my budget is buying silver. This is something I plan on doing for the rest of my life. My goal is to purchase at least $100 of silver every month. I just did so from SDBullion and got myself three 1oz silver bars.
My question, for those of you that have already been investing into precious metals for a while, what is the best bang for my buck? What weights do you recommend? What sellers do you recommend? Is it better for my to keep buying 1oz bars each month or set aside money each month until I have enough to get a 5oz or a 10oz bar?
I can recommend JMBullion.com...used for many years, always excellent service and products, sometimes special sales, free freight over $199, and I think you can set up recurring purchases...suggest you stay with the 1 oz, nothing fancy, just least expensive ones over spot price, maybe some half oz, qtr oz later on, but stick with basics, imo. good luck and have fun stacking for your future! oh yeah, and i think i saw that they have a special "starter set" of 10 oz for spot price, for new customers...happy hunting!
I also used jm bullion, never had a problem.
I just bought from them 3 weeks ago. They forgot to package 2 coins. I called customer service and they checked their tapes, found out they messed up and shipped what was owed. I still recommend them. I like sdbullion more but both r great.
yes, I have had a problem with an order as well and they fixed it (JMB), I have order probably 40-50 times from them. I also like SDB, I have only ordered a couple times from them. I think their shipping is a little slower, but nicely packaged and they have some good deals.
The only one I will stay away from is APMEX. I made a couple orders from them, specialty stuff. Then someone hacked my account and purchased several thousand dollars worth of stuff, changed my mailing address. Then they set up some kind of auto-mailer that flooded my email address with spam (like thousands of emails a day - I am still getting signed up to mailing lists a couple years later!) so I wouldn't see the apmex order email. Luckily I saw it happen early enough that I saw the apmex email. Within an hour or two of the order being placed, I contacted their customer service to stop the transaction and alert them that is was fraudulent. No response. I called the next day and the guy on the phone said he would let the fraud department know.... they never canceled the order and TOOK THE MONEY OUT OF MY BANK ACCOUNT!!! I had to call my bank and stop the transaction. I stopped any future transactions with apmex through my bank. APMEX never contacted me, never responded. Just kept sending me automatic emails that there was a problem with my payment. I could not believe that they still charged my account and were going to send out thousands of dollars of PMs to a different state. Never again.
Horrible. Its even worse that you had to take the extra step of stop payment. Online is more a curse then a benefit sometimes.
Pinehurst ain't bad either.
I’ve used them and they were good.
You are doing fine. Keep it up. Some people buy junk silver, old dimes and quarters. Easily recognizable, small denominations, will always have value. Good for trade if TSHTF.
I cant get into junk silver. Idk why. Keep thinking if they were ever used for barter, the person recieving the coins will say i handed them 75 cents lol.
I told my grandson that I remember, in 1964, using silver dollars in las vegas. If you invested 100 dollars in silver dollars then they would be worth $2750 today. Think about it. https://www.golddealer.com/peace-and-morgan-dollar-rolls/
Don't get me wrong, i love my silver, i just don't know if i love junk silver
https://www.jmbullion.com/peace-silver-dollar-bu/
Here was my last purchase,but I have a lot of bars and a monsterbox of silver krugs.
Ya, stay away from junk. I wont buy that stuff.
Buy locally, pay with green paper, sign with a smiley face or stick figure. "They" might not know you have it. Otherwise, "They" will.
Better yet, find a dealer that deals in cash with no paperwork!
If you are a costco member, costco sells gold and silver for very good prices. It is only online and usually sold out, you have to check for it every day until you luck into finding it. Unfortunately you're limited in how much you can buy.
Sdbullion has been good for me. Usually better prices than jm. Get a variety. Start with 1 oz bars, then work up from there. You get better value for your money the larger you buy. It's good to have a variety of sizes.
Watch for sales, both places usually have stuff at .99 cents over spot frequently.
Congrats on ur purchase. Silver is a great choice. Gold is just as good. Try 1/10 oz gold coins. You just take a hit with premiums. Generally stack what you want to stack. It is a hobby/wealth preservation. You wont get rich so dont listen to the youtube guys saying $30k gold and $5k silver.
As for what to buy. Depends what your goals are. If you are stacking weight, then stick to the things on sale at these online dealers. Lower priemiums means more bang for your buck. If you want beauty, then its what ever the hell you want.
stick to the sales items if you on a budget. Online dealers charge delivery for anything below $200. Try to stretch your goal to atleast that so ur not paying delivery. Food for thought.
Rule of thumb: bigger the piece, the less per oz you pay. For example, 10 1 oz coins will cost more then 1 10 oz bar. 4 quarter oz coins cost more then one 1 oz coin etc.
Silver is silver. Nobody cares if it has a smiley face on it. Stack what you want and pay attention to those premiums.
One more thing. Capsules are not a necessary thing. Keeping them in tubes or those plastic envelopes is enough. Capsules are good if you wanna display any pieces.
Don't forget to also purchase lead/brass, another very cost effective precious metal. ;)
In General Silver 90% Silver is cheap right now, but ugly. I recommend 1 0z silver rounds or bars as the sweet spot. Buying fractional makes the premiums too high, and buying say 100 Oz bars saves very little. I have had good luck with Coinhuskers for 2 orders now, so I recommend them as the cheapest source. Also Minot has great flash sales on Fridays. Both are on Youtube.
There are also several other first-time buyer deals on other major bullion dealers besides SD Bullion. Go for those deals.
I have bought from SD Bullion for years and they usually have the best prices. The larger the bar, the better the price, but you do not want to have to carry a 100 ounce bar anywhere! Constitutional silver and 10 oz or Kilio bars are a good deal. You usially pay more for 1 oz bars. Always try to catch a sale at SD Bullion for extra savings.
Research bitcoin, it's different to all the other digital coins. You can buy $10 or $100, you just need to self-custody. https://www.youtube.com/watch?v=8Mhu6dxj7qk&t=97s
Bitcoin is a losing hand! It was issued for child trafficking, drug trade and laundering. It will disappear when the RV takes place. XRP is king then XLM both are gold asset back. Bitcoin is backed by nothing.
Anything that requires electricity and internet connection is super easy to cut off from people they don't want to have touching that stuff. 100% agree, have the shit in your hand that will matter when the power grid is compromised. Stop playing their game, guys.
RV?
USD is used for way more bad stuff than btc.
Bitcoin is backed by proof-of-work. How do you not know that? Its limited nature, proof-of-work, and utility give it value. I put under $1000 into Bitcoin and it's now worth $67,000. XRP can't compare.
And have you even heard of USD and all the nefarious things it is used for? Most bills have cocaine on them.
It's real value comes from the fact that there is a finite supply of bitcoin. Once all the 64 million or billion bitcoin have been mined, that's it, no more. They can't create more bitcoin and devalue it, like they do with printing more dollars.
edit: Forgot to add - However, my belief is that if TSHTF, anything based in the digital/electronic aether will be worthless. Precious metals will be king, along with food and fresh water.
And yet I made $45k running my computer for about 25 hours back in 2010 generating a hair over 1 BTC and selling it during the Covid lockdowns to supplement some lost overtime. Wish I had let it run all year for that backed by nothing goodness.
I would suggest buying 1 oz coins, since the coins has extrinsic value because of collectability, but they also cost a little more. Or else just buy a variety of rounds.
Someone else also suggested jmbullion.com. They have weekly sales with 1oz silver often as little as 1.30 over spot price. Check the prices at checkout, you get the best deals paying with ACH (direct bank transfer), wire (this probably has bank fees) or check. You pay a big premium if you use credit card or paypal.
I have a separate checking account I only use for paying things like this, I don't use my main account for any online payments or transfers.
Minimizing the amount you pay above spot price is your goal. Typically the more you buy, the less you pay above spot price. I buy from JM Bullion. Most of the 1 ounce rounds you are paying a couple dollars above spot price. They offer sale prices, currently they have Indian head rounds on sale for $1.29 above spot. I have found the kilogram bars offer the best bang for the buck. It is aprox 35 ounces, cost is aprox $1000. Get your calculator out and crunch the numbers. Saving a few dollars with each purchase adds up over time.
Maybe go find out what local shop is charging over spot. You can deal in cash.
I sell bullion.
Watch the GSR “Gold Silver Ratio”. Right now is a better time to buy silver than gold.
I tell beginning stackers to start off with a good mix of Constitutional silver, generic silver rounds and bars, and coins (such as Silver Eagles and Maple Leafs).
Invest in some junk American silver coins. Much easier to spend when the SHTF than a silver bar.
Sounds like you're doing great! My only suggestion would be to make sure you're paying as small a premium as you can. So buy enough to qualify for free shipping or else go to a local coin shop. Also depending on what state you are in if you're being charged sales tax. If you are then consider buying locally with cash to avoid that as well
I’ve spent a few thousands plus with Treasure Island North Dakota they have been in the business for fifty years. Have their own Dakota Depository Company storage vaults are conveniently located onsite to provide Treasure Island customers secure and flexible storage options. Ask for Melissa 42 nd St S Fargo, ND 58103 701-282-4747 https://treasureislandcoins.com/ If you google a gold/silver sellers you’ll find out their a brokerage that uses YOUR money to purchase the metals they money off of you. The address you’ll find a Virtual Address they rent the address only no offices There is no business, Treasure island is real building real people
Welcome to the game. The is a lot of good advice on here. Sounds like you want the most value with easiest resale. I would stick with 1 oz silver rounds. Stack for weight.
Pinehurst is great. To get a good price break I would buy 5 at a crack. eBay has many bullion vendors online. Check the number of sales, & approval percentage. Search for silver rounds, lot of 5. Filter with Buy Now, and lowest price with shipping. ONLY buy from bullion vendors, they will have over 10,000 reviews.
BRICS+ is about to expose the silver manipulation, so you have little time to take advantage of the cheap prices. If you have extra savings, outside of emergency fund, I would exchange what fiat you have for money/silver. The gold to silver ratio is currently 1 to 79, so silver is the best bet on return, (to put you at ease for not being able to get gold).
If you are on twitter, telegram, Reddit, join wallstreetsilver & silverdegenclub, can pick up a lot of info. Reddit is great for this.
Keep Stackin’ Ape
Buy 1 oz coins or bars. Www.goldenstatemint.com has the best prices. I only buy their front page sale items. They do them a few times a month. If silver sky rockets, it will be harder to sell a 5 oz or 10 oz bar. It will be easier to get rid of 1 oz bars. Silver is going into the thousands someday.
Different prices for different types of coin. American eagles have a premium over spot that a blank silver round doesn’t command. If you strictly want to buy silver as close to spot as you can, I’d suggest blank rounds or larger bars. For bartering, American eagles might be more recognizable as money, albeit more expensive to purchase. Typically, blank rounds have some random manufacturing logo that people may not recognize in a barter situation. Good luck with it, and a consistent monthly buying plan is a great way to approach it!
As a stacker for close to 10 years now, I will say, try and find a local coin shop (LCS) that is reputable. If you are planning to buy every month, it might be worth it to get a good relationship with an LSC. My local guy has much better prices than online dealers, but a much smaller selection. I have made tons of online purchases, so I don't see anything wrong with that, but local is usually a better deal, especially for smaller purchases. Usually, online you have to purchase 20 or 50 or 100 to get the best prices. My local guy gives those prices for 1. Shop around! some local places are horrible, some are great. Stay away from pawn shops, they typically have terrible prices.
Buying local, you can immediately get your silver and see what you are buying. I also like to buy junk (constitutional) silver to round out my purchase.... so if I brought in $100 to spend and 3 rounds came out to $90, then I would spend the left over $10 on some dimes or quarters.
Also, check your state tax laws. I think in my state, if your purchase is under $500 then you have to pay sales tax. So it might be better for you to save up to meet that threshold. No sense in losing $35 on 5 smaller purchases (that is another silver round!). https://www.jmbullion.com/tax/
But back to your questions.... I think 10 oz bars are probably the best bang for your buck. But if a few 1 oz rounds/bars is all you can afford, they are still an excellent way to store your wealth. I am not sure but I think 1 oz rounds are usually cheaper than 1 oz bars, unless you find a sale, so I would probably go with rounds.
I currently own 203 oz silver…. Been buying for 8 years… it doesnt matter how much you buy or the weight, just buy it… what you will notice is that if you buy in larger denominations (5,10,20,50 oz…etc) price will get cheaper vs buying 1oz at a time… but what your doing is the right way… set aside what you can afford, and stock up… however that being said, if you ever do need to use your silver for bartering, having more 1oz pieces is a better option. Also buy directly from the mint/refinery, vs an exchange, it will avoid paying any additional fees… i currently bought and hold from : mintID, sunshine, scottsdale, asahi…stay away from gold and stack silver… silver is cheaper and the growth potential on profit return, far outpaces gold
If in the USA buy only American Eagles. You do not pay taxes when you sell them later. You do pay taxes on any silver you sell that is NOT American Eagles.
I think this depends on your state and how much you are selling. Eagles carry too much premium that you don't get back when you sell (as of now). In my state you don't pay taxes on any silver over $500, and shops do not report any sales under $10k... but every state is different.
Yes, on the premium.
Can you expand on this ?
I sold all my gold and silver 8500 oz back to a silver Co and it was not reported because they were silver eagles. He said anything else it would have been, like British, Australia and Canadian for example. Gold and silver in several states has become spendable money. The list of states keeps growing. Enjoy your BTC profits now, because one morning when you wake up everything will flip. BTC will go to zero because all the evil it is tied to. Laugh all you want it will happen. Their is a dual economy at play right now our fiat system and Quantum. Waiting for the plug to be pulled the 3 Gorges Dam to fail. 60% of the mining is under 3GD. BRICS is showing everyone the new system. Why do you think gold and silver is beginning to run away? The market crash will be one of many spectacular events.
Why taf did you sell your silver ???
If silver goes way up and that silver is backing something...Will that something go way up, too?
Not if its printable
True, but not talking about printable.
So what currencies are silver backed ?
Always look for lowest price over spot. Doesn't matter what it looks like, or how big it is you just want as close to the spot price as you can get. I also think the smaller sizes are more 'usable' if you ever have to trade with it. Easier to have a 1oz round in your pocket than trying to shave 1oz off of a 10oz block.
You can use findbullionprices.com to find the best prices across most sellers - jmbullion, sdbullion, etc
Silvertowne.com is very reputable though not the cheapest.
Investing in ivermectin would not be a bad idea either
...and of course, don't forget to invest in lead.
Oh, that was the first and longest journey, would say I have a shitload but that would not do it justice
All of the above... You will need 1 oz silver for potential trade if the SHTF. 5 and 10 oz is easier to store.
APMEX sells select items through walmart_com. Sometimes you get a better deal there than from APMEX themself, especially if paying by card. I don't know if they charge everyone sales tax or just those in states that tax metals. Boooo! But be sure it's sold and shipped by APMEX.
It might be worth saving up for a few months to get a tube of 20 coins. That should result in a lower per ounce price and save on shipping. I'm not sure I would recommend that right now. It's near a one month low right now. And you might want some in your hand now given the uncertainty of everything.
You can buy gold for as little as $5 in the form of Goldbacks. Cool product.
Generic rds or bars for spot. American silver eagles and junk silver as barter (walking liberty half dollars and Morgan silver dollars are my favorite). Always check thrift stores silverware, I've got a few solid sterling utensils now I actually use. I was getting into pouring copper, lost wax casting silver legos is my next goal. Look up coin roll hunting, I've had some luck with half dollars, when your at the bank ask for your hundred get it in change lol.
Welcome to being a silver bug, it's a fun hedge fund.
I bought from goldsilver.com and had zero problems.
Here in UK, after Brexit, if I buy a silver coin or bar then it comes with 20% tax. Makes it kinda pointless unless you think silver is really going to the moon.
I bought most of my silver from Texmetals.com
All great advice here. A couple of notes:
Buying the cheapest per oz - you can prove this out by asking a dealer how much they will pay you for a particular piece of silver. Most will offer you very close to spot price, so getting rounds/bars saves you money. YMMV.
JM Bullion, under the guise of Silver.com - never again! I ordered around $600 of silver, they sent it USPS Priority. Long story short, it was "lost" at a USPS facility. They refused to refund me. Not even whatever they received from the USPS. I am not the only person to go through this and mot be reimbursed by them. Beware!
SD Bullion and Greatlakescoin.com - Never had a problem.