So I joined up on here today and I'm keen to buy some silver soon. I want to buy probably silver bars first and naturally I'm scared of being ripped off or buy fake silver. I also want it to have an easy time selling what ever I buy so don't really want to buy some no name stuff unless there is a specific benefit. So my questions are: 1. What is the best approach to getting quality silver at a reasonable price? I'm thinking of buying some bars direct from the Perth Mint. Is this the best way to do it or will I get ripped off doing this approach? 2. Do highly known bars such as those from the Perth Mint sell easily? and do they cost and/or re-sell at a premium over a stock bar? Thanks
Buy from members on the site with good trade feedback and from the forum sponsors - you'll generally get as good or a better deal than from PM etc direct
IMHO 10oz dragons from www.bullionbourse.com and www.bullionmoney.com.au. You will have high liquidity, low chance of fakes, possible numi potential and something to look at when ronpaul2008 YT channel is quiet. I have 0 bars in my stack FWIW
I have plenty of bars (nothing wrong with Perth Mint bars IMO either) but I second thatguy's suggestion for the 10oz Dragon. Not much more exxy than a bar ... and a lot of upside. Plus they're great to drool over. Ossie from Bullion Money gets a thumbs up from me - good advice and good prices and he is really looking after folks here on iceblue's group buys.
I have found that if you can purchase in person from the Perth Mint retail shop or have someone you know in Perth buy them for you and ship them cheaper, that's the best way to get low priced and well known bars. Most people selling the PM bars on SS sell them for a higher price than the mint for mainly privacy reasons. Unless they're someone like me who was happy to sell them for the PM price because then I could sell them at a profit rather than a loss if I had to get only spot price for them from a dealer.
Perth Mint direct has high shipping and "insurance" costs (ask them who their insurer is like I did and you get silence). Cheaper prices for the same products from those websites listed above and I wouldnt buy over 10oz sized coins for future liquidity.
doesn't really matter what brand, type you stack if you can get close to spot. or even if you pay a premium for something that catches your eye or if you think that it may have more upside potential..I started with gold bars at first, then some coins. Didn't touch silver till reading a lot, then only bought bars. thought i might need liquidity so got into coins/rounds, pre-decimal and 1966 50c's.... once you have a bit doing a trade to re-balance your stack is easy on silver stackers. i personally think silver is silver at the end of the day as long as its stamped 999. some people swear by only buying silver in capsules or carded, getting pandas or only stacking "well known" brands. another way is finding silver in sterling 925 below/around spot. the main thing is to start stacking. fake silver is easy to notice, feel and hear. i would be more concerned about imitations where as a silver round is stamped as a "premium" coin such as a panda. also if spot price is say $32, would you really buy a coin/round for $50+ when you could just buy 2 ounces? i would say to a new stacker, don't believe the hype and store/build your wealth in ounces. best of luck./// a very good option is to trade your fiat with a stacker
density, you can do a simple specific gravity test, google it....weight, simple maths will also let you know if a coin/round is 31.1 999 silver....after a while when you have handled pure silver you will feel what an ounce should be in your hand...sound, tap 2 coins/rounds together and its high pitch...a fake will be more of a clunk. as for my experience, knowing silver is easy,.....whats hard is paying premium for a design that can be replicated in china and thinking you have paid more for the belief that it will be worth more then its inherent content...
The main difference between fake and real silver is real silver is made of silver, fake silver is made of something else, ie: not silver, but looks just like real silver.
