Tips on buying Gold or Silver?

Hi I'm getting some money soon and I would like to invest some in silver or gold (my gut tells me silver). I was thinking about ordering straight from ebay. My only question is, is it better to buy coins or just plain ole bars. Aren't coins worth more in the long run to some people?

I realize that if or when TSHTF I cannot eat silver, but at least its something I guess. Maybe I can eat it?

Thanks

Mike

go with your gut....silver

if tshtf smaller increments would be better than huge bars (unless u can smelt)

but don't trust me, i'm broke

reply to post by mayabong


First off, do not buy investments online.

The standard investment rate for stabilization of assets is 10-20% of your portfolio. It is trending a LOT higher nowadays according to some at Zero Hedge. What you state about eating silver or gold is only in the advent of total chaos or the government seizing you gold or silver.

Now, depending on your location, coinage versus bars is the question. In some parts, like New Hampshire, trade is being done now without fiat currency. This of course is voluntary, since it is illegal to require payment in only precious metals. Look into federal laws regarding this.

My suggestion would be in the bars component. This is because coinage usually includes a premium in the minting, where as the bars not so much. Also, do NOT go for the ETF';s whatever you do. Might just as well invest in dollars.

reply to post by saltheart foamfollower


Cool thanks. I'm in North Carolina and was thinking about just buying off of ebay. From some of the sellers on there.

reply to post by mayabong


they say to diversify...I guess that means to have a little bit of everything.

here's a link that might help...

bullion.nwtmint.com...

you can buy all different types on ebay, but I'd stay away from the ones the collectors are looking for. If TSHTF, silver is just silver...who cares if it's a collector's item.

Northwest Territorial Mint's website will show you the going rates of silver as of yesterday's market close.

reply to post by denaliland


Great thanks for the link. Lots to learn I see.

reply to post by mayabong


Don't buy silver on E-bay. The prices are inflated as well as the shipping. Find a local jeweler or card shop who sells bullion and buy ounces of silver as your budget allows. You will generally pay a few percent over spot. Ive been buying for years and generally go with 1, 5 or 10 ounce bars. As previously mentioned, buy silver for the weight, not the collectors value.

Are there coin dealers in your area? Sometimes they have less premiums than online sellers but you also have to pay local sales tax in some areas. It seem ironic to pay tax on bullion but in my area they do charge tax unless you have it delivered.
Do you already have the means for clean drinking water? If not, I would suggest a water purification system first. Following this, a good supply of long term foods. It's not as exciting as shiny coins but they can sustain your life. Beyond that I'd put money into silver.

Originally posted by Cakewalk
reply to post by mayabong

 

Don't buy silver on E-bay. The prices are inflated as well as the shipping. Find a local jeweler or card shop who sells bullion and buy ounces of silver as your budget allows. You will generally pay a few percent over spot. Ive been buying for years and generally go with 1, 5 or 10 ounce bars. As previously mentioned, buy silver for the weight, not the collectors value.

edit on 4-12-2010 by Cakewalk because: spelling

Again thanks for your input. I figured some of the stuff on ebay was overpriced. Some do have free shipping though. I'll look around locally thanks.

I have some gold jewelry that I don't really wear lot, but I'm holding on to it. There seems to be saturation of "gold buying commercials" on TV in the past couple of years, so I figure if the government is wanting it that much, I should wait on selling any of it. I also have a couple of silver serving pieces that I think I'll hold on to.

Well, you're a little late to the field (my average buying price, even though I'm still buying, is ~$325), but it's still safer then fiat currencies. Although, I wouldn't advise it at this point, there are far better deals out there, if you're really set on it, I would advise buying directly from your Bank, or a Bank that sells Gold (mine sells it in almost any form - bars, Canadian, American, South African...). The advantages of a Bank are - Tax Free, no risk of being ripped off, you can store it in an anonymous box, or, if you prefer, just take it with you, and do what you will...

reply to post by mayabong


I bought my silver and gold here: www.apmex.com...

We bought the little ingots don't get big bars if TSHTF they would be impossible to trade.

We have a friend that is a jeweler and he looked over what we got and said we got a very good deal.

Our gold and silver has already gone up quite a bit since we bought it.

Hope this is helpful. I feel Apmex is very reputable.

Ebay, you have to know your buyer. Google buying gold / silver and stick with only the reputable companies.

reply to post by Cakewalk


Yes very good advice as well.

'Common date' US silver coins are currently worth 21.25 times their face value based on their silver content.
A beat up old Franklin half dollar is worth $10.63
Here's proof:

www.coinflation.com...

No need to buy collector pieces if you're only interested in the silver value. If you want easily exchanged small denominations of silver, then common date, circulated US coins are the way to go.

Want a bargain? Go to your bank and sort out pennies older than 1984. They're worth 2.63 cents in copper.
Sort out $100 in real copper pennies and they're worth $263. Should the SHTF they'll be worth a lot more than that!!!

www.coinflation.com...

This opportunity won't last long! Act now, and we'll include a FREE set of........

No, seriously, if you have time on your hands, you could be making money by sorting pre-1984 copper pennies!

reply to post by masterofnone


That's really interesting. When I get a lot of pennies in my purse, I always look on the back to see if there are any wheat pennies. Sometimes I will find one. I also have a silver certificate, I think from like 1950 something.

There are at least 2 dealers in North Carolina - Charlotte and Greensboro. Check their prices and best of all, if you like their prices, it's cash and carry. Forget the EBay routine!!!!!

Here on the ship Titanic (California), I regularly swap a stack of Federal Reserve Notes for Tubes of Silver Eagles, pay no tax, take my receipt and walk back out the door. I.D. was not required.

Let me know how it goes. Jumping ship and heading for Mooresville next summer. I'll be in need of a local dealer.

Wow, how much is a tube of silver eagles? Aren't they like 25 bucks a peice?

Originally posted by Oldnslo
There are at least 2 dealers in North Carolina - Charlotte and Greensboro. Check their prices and best of all, if you like their prices, it's cash and carry. Forget the EBay routine!!!!!

Here on the ship Titanic (California), I regularly swap a stack of Federal Reserve Notes for Tubes of Silver Eagles, pay no tax, take my receipt and walk back out the door. I.D. was not required.

Let me know how it goes. Jumping ship and heading for Mooresville next summer. I'll be in need of a local dealer.

If the world currencies collapse, silver may very well be the mode of payment for the common people and gold for the big boys.

Originally posted by wisdomnotemotion
If the world currencies collapse, silver may very well be the mode of payment for the common people and gold for the big boys.

Just curious anyone, if the scenario happens....

I happened to receive quite a bit of jewelry for wedding presents a decade ago...

What happens to mixtures of silver/gold, or for that matter if the gold is 24K vs. 18K necklaces, bracelets, rings, etc.?

A truly "what if" scenario, but will it matter if it is a mixture of the 2, or will karats matter at that point?

Something else to take into account as far as diversifying:

Perhaps stocking up on non perisable goods should be evenly divided with your gold and silver savings, no?