Buying Silver - Any primers out there?

ElisabethWhispers's Avatar
I've wanted to buy small amounts of silver for years. Decades, perhaps. Then, I'll think about it and not do it.

Well, once again, I'm considering the options.

I've looked on ebay. And there are silver places in Dallas. But where does one really start?

Is there a primer out there somewhere to teach the basics so that as a consumer, I'm making the correct choices?
There are even counterfeit coins, maybe not so much silver one but gold coins
Buying ingots might be cheaper but how do you know that the silver percentage is really true? What about when you sell it? same thing

I would think sticking to old time US Silver dollars[ or $20 gold pieces ] might be the way to go. There are some later minted proof coins that were silver too
You need to read up about coins in some coin newspaper and become an expert

I serviced a scientific instrument for a precious metals assayer in Los Angeles
Their way is to melt everything down, they found just about anything such as tungsten ingots imbedded in gold bars etc
So they melt the gold down then they take a very small sample and analyze that.
Coins really is the way to go as a coin's precious metal content is tightly controlled but then you will pay a premium
OH yes, forget about some one else holding the precious coins/metal for you. Too many 'secure' outfits went 'belly up'
Fancyinheels's Avatar
Been buying small amounts of silver for decades, or been lucky to have it given to me.

A lot of pretty, shiny stuff' in my jewelry chest, or shining on my pretty chest.

I like to decorate my sassy self, and fortunately, so have some wonderful gentlemen here on ECCIE. Consider yourselves Irish-kissed!

About current silver prices... http://www.zerohedge.com/news/2015-0...nges-2015-lows
dj8rocks's Avatar
I think silver is a good long term investment. I found a jewelry store owner that buys and sells in bulk. I can either get the lady liberty silver dollars or I get what is referred to as "rounds" which are basically one ounce ingots that are a true 28 gram ounce that is .999 pure. I buy the rounds at $2.00 above market spot at the time I place my order. The lady liberty's are $3.00 above spot due to the fact that they are what's called a Troy ounce which is a 32 gram ounce.

Maybe look around at some of the larger pawn shops that are in your area and talk with them, maybe make some purchases and see what kind of bulk deal you can get. With either the lady liberties or the small ingots, which are assayed and stamped, it would be a good investment.

Also, maybe look at monex.com, they are a large precious metals trading company. Good luck dj8
HMFICDICK's Avatar
I have been buying silver for a number of years. The least expensive is buying the silver rounds or ingots. I deal with a place in Florida (I live here) called Gainesville coins. Their website is "gainesvillecoins.com" without the " ... There is a place in Dallas that prices similar to the gainesville coins. it is http://www.providentmetals.com/ One place I will not deal with is a place that does not have a address where I can go and get the product or find the people I am dealing with. Most of these places have information they can provide on good investment plans.

There is One main object. Buy Low Sell High.

My opinion is that I am interested in buying silver, it does not have to be collectable it has to be available to me for the lowest premium over the spot price. That means buying silver that is produced by a number of smelters, so it is important that you are dealing with dealers, like those above that you can trust.

Also, Do you need easily transported precious metals? consider gold. $1000 in silver weighs about 5 pounds. !000 in gold weighs about 1 ounce.

If you want to ask me any questions Just PM me.
Ive been buying sliver bullions for years. Just because its a retirement securement. On each package ubget it in I right on it what I paid for it. Then keep a log of the amount I put is my safe deposit box at the bank.
Slitlikr's Avatar
HarleyRider96's Avatar
Check with A Mark Precious Metals @ amark.com they were recommended to me years ago by Sunshine Mining and have always serviced my account well. They also buy as well as sell.
I've been using apmex for years to buy 1 oz. silver coins and larger silver bars in various sizes.... extremely reputable company and fantastic customer service....you might give them a look....
motor's Avatar
  • motor
  • 07-24-2015, 03:48 PM
I was buying from LBJ Gold and Silver on Oates and 635. Always bought one ounce ingots. They were always very helpful.