I'd love to get some "sound" advice about the pros and cons of buying physical silver. I've been doing homework on buying physical silver over the past three weeks and am getting ready to pull the trigger soon, but I can use some advice as to what I should buy?
Should I buy 100 Oz, 10 Oz, 5 0z or 1 oz .999 Bars?
Should I buy Government Backed .999 Silver Eagle Dollars?
or Should I buy Silver Dollar Rounds?
To help you provide me with the best advice, I am looking to purchase Silver for an investment and have ZERO interest in collecting "Fancy Silver Coins". I want to play this commodity as anything else, buy low (if you can call a 70% increase over the past year low) and sell high!
Again, any INTELLIGENT thoughts and advice would be greatly appreciated on what I should do for those of you that have experience in buying physical silver.
BTW...I'll be purchasing my silver through gainesvillecoins.com since they have the best "spot rates" of any brokerage I could find on the web (no, I'm not plugging or affiliated with this company in any way).
Let me know your thoughts and Happy New Year to you all!
Walk into your local coin dealer and buy physical gold and silver from him.
That's what I do and no I am not a coin dealer.
I don't ever have to worry about getting screwed because I will not put that kind of money in the mail just hoping the other guy is honest. I like to see what I'm buying on that expensive of an item.
Also, you'll establish a business relationship then with that person and you'll get info on trends in the marketplace. You'll also be supporting the "local guy". I've found the premium over spot from my coin dealer to be the same as the other guys and I enjoy the conversation too.
Do you have an account with Europac? I do and to be honest they are my least favorite broker. Love Peter Schiff and his commentary but brokerage service has been less than satisfactory.
What is your experience with these guys?
I'm going to take my chances and hope there's a year end pull back and then pull the trigger. I'll be pulling the trigger by January 2nd at the latest!
A little patiences goes a long way, but I'm not stubborn either! Lets see if we can get a minor pullback leading into the new year!
Not much to offer and as you I'm not plugging this co. ,but their buy back on the silver Eagles last I looked was 1.55 or 65 over spot,and their sell prices are very competive.
They also hasd 'WE DARE U TO COMPARE OUR PRICES AND SERVICE " SOMETHING VERY CLOSE TO THAT. hOPE THIS HELPS SOME ANYWAY. jIM
I can't tell you how much I appreciate you guys taking the time to share your advice and personal experiences with me.
I'm going to start with buying Silver Eagles and 10 Oz Troy .999 Silver Oz Bars to start with. I plan on buying around 200 Oz of physical to start with to see how things go. The only problem is that I should have bought 2 days ago before letting the price spike on me ;)
Right now, my portfolio consists of Apple, Silver Wheaton, Chesapeake Energy, Cleveland Cliffs, The ETF LIT & Teva Pharmaceuticals.
I'm content with everything I have as I think each one of these holdings will increase a minimum of 20% in 2011! I plan on taking a break from trading during the first half of 2011 and will invest as much capital as I can in physical commodities to expand/diversify my investment portfolio.
Thanks again & good luck to all of you in 2011...You guys have been very insightful...Much Respect!
Varying sizes is probably best. If you need to barter with silver, getting change from 1000 oz. bars is not gonna happen.
First buy silver dimes and quarters. Then buy Eagles or Maple Leafs, then buy 100 oz. Canadian Mint bars.
I use the Pandas as gifts.
Best of luck to you.
P.S. Buy some SLW too.