Hello everyone I am 40 and father of 3. I wanted to start collecting silver however read so much I joined this forum to get help with what to collect coins or billions. I love the look of coins and am in this for the investment please hell me with what I need become a lucrative investor in silver, like names of quality places to buy to types of silver etc, feel free to pm me too thanks in advance
brand spanking new collector
- Thread starter frezel
- Start date
Golden ChipMunk
Well-Known Member
Location would help us.
And Welcome.
And Welcome.
H
House
Guest
Lucrative investor in silver'... Sounds oxymoronic :lol:
Don't buy on eBay until you have a good idea of what you're doing, too many fakes on there can easily catch a newb out. Stick with bricks and mortar shops to start with. Goldstackers and Perth Bullion are good places to start if you're in Aus. Buy a few oz just to keep you happy for know and keep reading the forum to learn more. Check out the FAQ link in my signature.
Don't buy on eBay until you have a good idea of what you're doing, too many fakes on there can easily catch a newb out. Stick with bricks and mortar shops to start with. Goldstackers and Perth Bullion are good places to start if you're in Aus. Buy a few oz just to keep you happy for know and keep reading the forum to learn more. Check out the FAQ link in my signature.
I live in the United states philadelphia to be exact. I am looking for long term investment and a little fun collecting too. I want to be able to sell at a future time hopefully for a profit. Also spot here is around 19.50 am ounce should I hold out or is that an average price
G'day and welcome.
The price you quoted seems about average and good for the moment !
Investigate APMEX.com and JMBullion, Scottsdale, Provident, Golden State Mint, NTR etc, plus have a look into Youtube with the reference maybe of "Salivate Metal" to kick it off for you.
Have fun
The price you quoted seems about average and good for the moment !
Investigate APMEX.com and JMBullion, Scottsdale, Provident, Golden State Mint, NTR etc, plus have a look into Youtube with the reference maybe of "Salivate Metal" to kick it off for you.
Have fun
So I assume you guys stack coins and silver to turn a profit in the long time right?.I mean u guys are not.collecting just to collect right. My goal is to have some pieces if not a bunch that like bonds in a few years when my kids go off to college I could sell some off and earn some money on it. Eveytime I play the stock market I get killed and I looked into this and so far looks like a half decent way to make.some money over the long run
frezel said:
Welcome, frezel:
Since you are in the USA, you might consider exploring some of the more reputable online bulliion dealers, such as APMEX & JMBullion.
Going to local coin shops is something I prefer to avoid - as their selection is usually very limited, their premiums are higher, and because it is a local transaction, you will have to pay sales tax (online purchases in the USA do not get taxed, when you are purchasing from a dealer in a different state).
JMBullion offers great prices and free shipping:
https://www.jmbullion.com/silver/
APMEX has a huge selection of products, and charges a small shipping fee, but they are super-fast - you will usually have your metal in a day or two of placing your order:
http://www.apmex.com/category/20000/silver
Modern Coin Mart is a very reliable dealer on eBay - they have very good prices, free shipping and occassion "hot offers" that ar too good to pass up.
http://stores.ebay.com/ModernCoinMart
All of these vendors will accept credit cards - although they also offer good discounts, if you pay with check, money order, or bank wire.
frezel said:
There is no guarantee that you're going to make money from your investment (at least in the short term), and you should not be betting your children's future education on it - if I understood your comment correctly.
There are different reasons why people stack silver: there are some collectors, others are investor-speculators, and some purchase metals as a form of insurance against the inflation of the fiat currency (or even a complete melt-down of the financial system as we know it).
I beleive that investing in silver, at today's prices, will prove very rewarding, in the long-run. Of course the spot price could go down by a couple of dollars, in the short-term.
But remember that there is a limit to how far the price would dip, before new investors would start aggressively buying and bidding the price back up. On the other hand - there is NO limit to how HIGH the price could go.
For me, the potential for very high returns is more compelling, than the limited risk of a temporary price dip.
First decide if you want to be an investor or a collector.
and welcome!
and welcome!
:
mmissinglink
Active Member
Welcome to the SS forum, frezel
There's no complete and right answer anyone can really give because there are so many variables in determining what, where, when, how to buy.
A few very basic things I can tell you is:
1) Learn as much as possible; don't just listen to the loud mouth propagandists who are spewing snake-oil nonsense like "silver is going to da moon tomorrow" and that sort of crap. Silver is a commodity and it is neither indispensable nor is there a shortage of it.
2) Sign up with several or more reputable bullion / coin dealers so that you can get early notice of specials they are running. Raven's list is a good one to start with.
3) If you are going to purchase from a business, make sure that business doesn't charge taxes on orders shipped to you (PA)
4) Look for dealers / sellers who are selling at a good price AND provide free or very low cost shipping whenever possible.
5) Do not buy silver blobs (common, non-denominational, bullion bars) with a premium of more than .99 cents right now if at all possible.
6) Consider diversifying your stack...this may be one way of minimizing some risk and it may allow you to enjoy your endeavor more. I can't think of anything more depressing than buying only APMEX blobs or only ASE's (American Silver Eagles).
7) If you choose to purchase US Mint collectable coins, consider choosing coins where you can buy on a subscription price which will save you money as compared to the regular higher price. The America The Beautiful 5 oz silver collector coin (with "P" mint mark) series comes to mind immediately in terms of good price for subscription.
You will not have a healthy investment (no good return) if, when you are forced to sell or you choose to sell out of frustration, the spot price of silver is close to what you bought at if what you have stacked is blobs. This should be self-evident if the spot price is lower or the same than when you bought. But it's also true for when the spot price is slightly higher as well because dealers never buy back at the same price as they are selling....and that's understandable because they have to make money on the sell vs buy-back premiums difference. If, on the other hand, you bought collectible coins that are in demand when you sell, the spot price matters much less in many instances. But keep in mind that there's no perfect formula for determining which coins will be in demand some years down the road.
I hope you learn a lot here in this forum.
.
There's no complete and right answer anyone can really give because there are so many variables in determining what, where, when, how to buy.
A few very basic things I can tell you is:
1) Learn as much as possible; don't just listen to the loud mouth propagandists who are spewing snake-oil nonsense like "silver is going to da moon tomorrow" and that sort of crap. Silver is a commodity and it is neither indispensable nor is there a shortage of it.
2) Sign up with several or more reputable bullion / coin dealers so that you can get early notice of specials they are running. Raven's list is a good one to start with.
3) If you are going to purchase from a business, make sure that business doesn't charge taxes on orders shipped to you (PA)
4) Look for dealers / sellers who are selling at a good price AND provide free or very low cost shipping whenever possible.
5) Do not buy silver blobs (common, non-denominational, bullion bars) with a premium of more than .99 cents right now if at all possible.
6) Consider diversifying your stack...this may be one way of minimizing some risk and it may allow you to enjoy your endeavor more. I can't think of anything more depressing than buying only APMEX blobs or only ASE's (American Silver Eagles).
7) If you choose to purchase US Mint collectable coins, consider choosing coins where you can buy on a subscription price which will save you money as compared to the regular higher price. The America The Beautiful 5 oz silver collector coin (with "P" mint mark) series comes to mind immediately in terms of good price for subscription.
You will not have a healthy investment (no good return) if, when you are forced to sell or you choose to sell out of frustration, the spot price of silver is close to what you bought at if what you have stacked is blobs. This should be self-evident if the spot price is lower or the same than when you bought. But it's also true for when the spot price is slightly higher as well because dealers never buy back at the same price as they are selling....and that's understandable because they have to make money on the sell vs buy-back premiums difference. If, on the other hand, you bought collectible coins that are in demand when you sell, the spot price matters much less in many instances. But keep in mind that there's no perfect formula for determining which coins will be in demand some years down the road.
I hope you learn a lot here in this forum.
.
If you really want to invest and expect a gain, stick to high quality rare NGC or PCGS certified coins. 1909-S VDB, 1914-D, 1955 double die Lincoln cents have been steadily increasing in price for decades. Rare coins really are a good investment. Buys some books and subscribe to Coin World. Educate yourself before investing in anything