My grandfather recently passed away and before he passed he left me some of his silver coins. He was an avid investor and I know he loved silver. He left me about 15oz of silver in various coins, most of his investment went to his kids, my mom, my aunts and uncles. Also he gave some to my siblings and cousins. I have a big family. I want to keep his memory alive by investing in silver, he was a great man and I want to follow in his footsteps. I don't know the first thing about it. I know that precious metals are a great investment and it could hit $40 to $50 an oz in a few years. Where should I start? What should I invest some money into? Coins? Bars? also where is the best place to buy? Any info would be greatly appreciated. Newbie here. Thank you!
Please don't post in multiple threads with the same post. If you go to this recent thread I think you'll find a lot of the info you are after: http://forums.silverstackers.com/topic-34836-new-investor.html
You might like this http://forums.silverstackers.com/topic-33291-introduction-to-precious-metals-silver-gold.html
I see your in the US. I'd go pre decimals if I was living over there. Reason being is that there's boatloads of them and they're cheap. Eagles are nice but cost more than a dirty old pre decimal. Alternatively, just get as much metal as you can for your money, meaning bars. Don't waste your time on numismatic coins unless you know what you're doing.
There's a lot of great videos on youtube that are very educational. TruthNeverTold is Chris Duane's channel, he has the Sons of Liberty Academy series which is a LOT of information, I believe at least 40 hours worth. Mike Maloney's channel "whygoldandsilver" has a few really educational videos, I specifically like "Why Gold and Silver? Mike Maloney tells all", which is about 1 1/2 hrs. I also subscribe to Gregory Mannarino, SGTbull07, SchiffReport, UnconventionalFIN, and David Morgan's channels. As for what you should invest in, that's your decision. I personally like silver very much, as do many people on this forum, but what you do with your money needs to be on you, not us. Educate yourself about it and choose what's right for your lifestyle. If you choose the path of silver, then visit your local coin shops and see if they will sell you any silver at close to spot price. If they wont, you have choices. Many sites online will sell silver for a set premium over spot. My favorites are www.monarchpreciousmetals.com, www.silvertowne.com and www.providentmetals.com. Welcome to the forum P.S. - As for what geewiz is saying, most pre-1964 US coins were made of 90% silver. This is generally referred to as junk silver and can usually be bought for lower premiums than .999 pure. I agree this is a good way to go, not only are you paying less money for more silver if you can get them close to spot, but you are also paying a low premium for fractional silver, and once you do some research you'll find that fractional .999 silver bars/rounds have a much higher premium. Plus, it's probably the most easily recognized form of silver here in the U.S., being that it's already in currency form and all. Edited to add "al" to the end of education before videos in third sentence.
I would tend to agree from what I have seen so far, in the sell and buy back price from the two main dealers in Queensland.... Unless of course you intent to hold on to the item for years.
I think he means US Junk silver coinage. Pre-1964 coinage was %90 Silver. Go to coinflation.com and start shopping. I do'nt see how you can wrong stacking all of SAE's you can afford.
If your just starting I would go with present year American Silver Eagles like Grey Ghost said. If you can't source them locally to avoid shipping Provident Metals has decent prices. I buy from them periodically.
