Mexican Silver

Hi all,

New to the site and to silver collecting. I’ve recently bought the 2017 lion and 2kg bars from the royal mint as an investment/hedge.

My question to the forum - what are your thoughts on Mexican silver? Given that so much of it is mined here (I’m currently in Mexico City) what are the pros and cons of buying here? I am going to Taxco in a few days to walk around the markets there so any tips would be greatly appreciated!

 

if it was me, I wouldnt be buying anything in Mexico. If I had to, I would be asking the expertise of locals that buy the silver.
I stick to buying my stuff from reliable dealers.

 

Two basic facts about silver.

1. Don’t buy fake silver, most important. This is golden rule.

2. Silver is silver, but depending on your want and need, you need to learn the different markets.

Silver by weight - you want a volume of silver, buy as close to spot as possible, as your investment is tided to spot. You need the discipline to stay away from premium over few percent.

Silver with premium - usually minted coins and vintage bars though it is silver, the premiums can be as much as silver itself or much more. Why some coin premium gain in value or decline is complicated. There are pro and cons to this premium market with rewards but it’s lot of work.

Silver jewllery or generic silverware’s - unless you want to become a trader, stay away, this a fickle market even more so than minted coin market.

Gold is much the same, I’m basically buy weight for investments but I also buy small amount of premium coins as a collection/hobby.

ie I don’t buy rolls of twenty coins of low mintage premium coins hoping to make money on premiums but will buy 1 coin for personal collection.

Good luck. And the faster you decide what kind of invested you are the better.

 

Once op learns to avoid likely fakes Mexico is likely a good place to get silver like libertads

 

Thanks for the quick response all. I am going to Taxco on Thursday so will wall around and talk to as many people as I can! If I find something interesting I’ll post it here ...

 

It very unlikely anyone will allow you to acid test, but see if you can buy a decent magnet to check if it sticks to it.

When I was there long time ago, I bought a toy with a strongest button magnet from local souvenir shop. Ripped the magnet from it.

Ps it it is attracted to a magnet, it is likely not silver.

 

Good point. I’ve read a Neodymium magnet should do the trick?

 

First liberdad found! Banco Azteca, 1 ounce, $360mx so I think 20% premium over scrap price? Haven’t tested with a magnet yet but excited to get the journey started!