New stacker here with noob question!

Hi you guys,

I'm sorry if this has been covered on the forum but I had a difficult time finding an answer.

I'm new to silver and I seem to have two ideas about what I want about it..

The first is that for me silver is a good way to save my disposable income because then I can't spend it all on wine and smokes. So it makes sense to get as much weight as I can for my money at the time I buy.
The second train of thought is that buying a few coins way over spot price is fine because pandas are cool and I like shiny things.

So, what I would like to do is buy a couple of nice shiny things a month and as much 'other' as possible with the rest.
Can anyone recommend how to go about buying silver at spot price or very near to that?

Thanks in advance for your help

Stone

 

So it would be reasonable to ask my friendly coin shop guy for florins and the like at spot price then? What about round fitties?

 

If you are shopping online, try and find a dealer who is willing to put all your weekly/monthly individual purchases into a safe and then post it out once you have a good sized package. You will save so much in postage that you won't mind paying a bit over spot for your coins.

 

Oh i noticed perth bullion do that do the charge for it? Thanks for the suggestion!

 

So it would be reasonable to ask my friendly coin shop guy for florins and the like at spot price then? What about round fitties?[/quote]

Depends when they bought them. If they bought them when the prices were high they might not be willing to sell them for spot. I have not come across a shop selling them for spot but they are often at a fixed price that doesn't fluctuate with spot, I once pointed out that the rising price of silver meant that a coin shops junk silver was selling for less than current spot, they didn't want to bother changes the prices every day so they said they didn't mind if I wanted to take them, they were only interested in making a sale and getting rubbish off their shelves, score!

Round 50s usually sell for a premium, I haven't managed to get any for spot but you never know your luck.

Remember that people want to sell silver for close to spot so there is not much money to be made for a shop to be selling at spot, then they might have rent, staff, electricity etc. and these people need to make a wage as well. You are more likely to get spot from eBay or market stalls or here occasionally.

I used to pick up bulk lots below spot on ebay, and that includes the cost of postage factored in. Now I expect to pay between 3-5% premium. Any more and I just buy bullion.