First silver coin purchase

S

Stacker55

New Member
I'm doing this as a investment. With the price of silver rising (hopefully) I believe my purchase of 1 20oz roll of ASE's is a good investment. True? What would be a good step in furthering my investments? Next worth while purchase? I'm trying to learn more about silver.
 
The problem with Silver Eagles is when you go to sell them, dealers give the same price as silver bullion. They sell them at a premium but buy at spot. You could always sell them on eBay as you will get the premium there but then you incur eBay and Paypal fees. Eagles are beautiful but for silver accumulation, bars and rounds are best. Now to be honest, I have eagles to go with my bars and rounds but I am just accumulating with no intention of selling. If you are mainly collecting, ASE, Maple Leafs,etc are very nice, but just to accumulate silver, go the least expensive route. That is just my opinion and I have been known to be wrong.
 
I'm going as a PURE investment route.
Any tips on what exactly in your opinion is the route to go?
Like, I know nothing about silver.. I'm trying to learn a lot though.
 
As a pure investment, I would recommend bullion. Bars and rounds in as large a size as you can afford to avoid mark ups. I don't want to break any rules here but nwtmint.com ships free if over a 50 ounce purchase with a very low markup over spot. When I order from them I go with a mix of bars and rounds. Under 50 ounces they charge shipping based on how much you spend.
 
errol43 said:
How much over spot do you pay for ASE.?

Regards Errol 43
Click to expand...
As long as I buy 50 ounces, rounds and bars cost me $30.41(today) and Eagles $32.90. Strictly as an investment, rounds and bars make more sense.
 
For my investments I am going with 10oz silver bars.

A decent size for reselling, don't take up much room and they have low premiums.
 
Sunshine mint is reputable. What are shipping costs? And always check for reviews online before ordering.
 
a1nipper said:
errol43 said:
How much over spot do you pay for ASE.?

Regards Errol 43
Click to expand...
As long as I buy 50 ounces, rounds and bars cost me $30.41(today) and Eagles $32.90. Strictly as an investment, rounds and bars make more sense.
Click to expand...
It all depends on your liquidation strategy. I bet I can get rid of 100oz of Eagles faster than you can get rid of 10oz of generic bars if/when the time came to sell.
 
db23 said:
a1nipper said:
errol43 said:
How much over spot do you pay for ASE.?

Regards Errol 43
Click to expand...
As long as I buy 50 ounces, rounds and bars cost me $30.41(today) and Eagles $32.90. Strictly as an investment, rounds and bars make more sense.
Click to expand...
It all depends on your liquidation strategy. I bet I can get rid of 100oz of Eagles faster than you can get rid of 10oz of generic bars if/when the time came to sell.
Click to expand...

I would have to disagree. My local dealer, Baxter&Dempsey will pay me between $0.50-$1.00 under spot for rounds,bars or Eagles any day of the week. Price is closer to spot the more you have to sell.
 
Stacker55 said:
A dealer? I highly doubt I have any around here. Pretty rural place
Click to expand...

Just saying if you did have a dealer near you, they would pay you $28.76 per ounce. I would be leery of anyone selling at $29. Hardly any markup.
 
Never heard of them. I stick to nwtmint.com and scottsdalesilver.com. I always check reviews online before trying anyone new.
 
I really like the idea of coin collecting anyways. 20 oz tubes for every year until retirement then sale just sounds like definite GOOD profit since I'm only 17.
 
You must log in or register to reply here.
Back
Top