1. Stocks down 9 out of 10 sessions and weaker this am. Metals also weaker
    Dismiss Notice
  2. Good Thur Morning! Gold is -4 to 1249, while Silver is down 9 to 1815. Crude is off 10 to 4941 after recent reversal. The USD is up 8 to 9992.
    Dismiss Notice
  3. Week of 3/25/2017 Closing prices & Chg Over Last Wk---- Gold $1248.50-- UP 18.30 Silver $17.75-- UP 34 Oil $47.97-- DOWN 134 TICS USD $99.42 -- DOWN 66 tics

HOW DO I GO ABOUT BUYING SILVER? TOTALLY NEW TO THIS

Discussion in 'Purchasing Precious Metals' started by gabriel2005, Dec 10, 2016.



  1. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Do you use EBay?
     
  2. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

    Joined:
    Apr 4, 2010
    Messages:
    4,119
    Likes Received:
    3,660
    Trophy Points:
    113
    Gender:
    Male
    • IF it were me I would start with Junk Silver / Pre '64 silver coins of Dimes, Quarters, Half Dollars, and Morgan & Peace Dollars.
    Of course Morgans & Peace Dollars are seldom found in Junk Silver. Even extremely worn silver dollars have value by their actual weight(s).

    IF you live in the US I'd stick with US coinage as those will be what most Americans will identify with.
    Silver American Eagles ( SAE) are also preferred and why there is a premium compared to silver rounds of 1 T.oz weight. People identify them as Government Backed where rounds are gonna be scratch tested for purity unless one owns expensive electronics to test with.
     
    gabriel2005 and D-FENZ like this.
  3. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

    Joined:
    Apr 4, 2010
    Messages:
    4,119
    Likes Received:
    3,660
    Trophy Points:
    113
    Gender:
    Male
    DYODD on Ebay offers. There are good people/businesses and those who are not. If you go there learn the difference.
    As has already been said "If it sounds too good to be TRUE, It probably is".

    ALSO
    Do not get "Paralysis by over Analysis".
    AND
    "Bears make money, Bulls make money, HOGS get slaughtered.

    As a rookie you are going to make mistakes PLAN and SIMPLE. You simple want to minimize those mistakes and learn from them. Learn DOLLAR COST AVERAGING too
     
    Last edited: Dec 14, 2016
  4. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    2,591
    Likes Received:
    3,876
    Trophy Points:
    113
    lol Who'd use such a disrespectful term to describe our masters...er servants.
     
    gabriel2005 likes this.
  5. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Very great advice!
    The first thing I know, is trust no one. I'm not even discussing with family or friends. Loose lips sink ships. The biggest thing I'm afraid of is being scammed. I need to do a ton a reading first.
    I was already taken when I was in a financial strap and took half full coffee can to coin shop of Susan B Anthiny coins and walked out with only six hundred bucks or so! I went back in there a month later, and OMG! I saw my old coins and what they were selling them for! Furious!
    I think I'm just going to start out with fifty bucks, take pride in that, even though some may think it's pocket change.
    My mom has a safe she's offered, not because she knows about this, but for important papers, will, etc.
    Thanks soooo much! :)
     
    Weatherman and Scorpio like this.
  6. <===Foolsgold

    <===Foolsgold Gold Chaser Site Supporter ++ Platinum Bling

    Joined:
    Mar 31, 2010
    Messages:
    3,875
    Likes Received:
    3,447
    Trophy Points:
    113
    Location:
    Pennsyltucky
    I so want to disrespect you but won't.
     
    gabriel2005 and solarion like this.
  7. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Good advice!
    I don't want to panic sell
     
  8. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Others have said the same thing, though I'm weary of being scammed
    Thanks for info
     
  9. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Okay, I will do.
    A lot of people are advising EBay
     
  10. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Lol
    Geez, don't have a clue.....
     
  11. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Thank you, kind sir, for the compliment?
     
    <===Foolsgold likes this.
  12. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    2,591
    Likes Received:
    3,876
    Trophy Points:
    113
    Panic selling is most oft a function of converting too much federal reserve phuny munny into less liquid assets like gold, silver, stocks, etc. Maintain a healthy stack of CASH(not debit/credit) and you'll be able to withstand market fluctuations much better. Plus instead of panic selling on dips you can actually take advantage of temporary market dips and stack moar real money for less fake money.
     
    Weatherman and gabriel2005 like this.
  13. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Lol...okay! Some of your words went right over my head, being wet behind the ears at this, but once I learn my stuff, I'm going to bop you back how your advice helped! Lol
    I keep finding myself seeing that I don't want to be scammed at trade shows, I trust nobody, and being female only makes them believe I'm even more uneducated. Whatever.
    I'm excited to be starting this silver buying, but don't want to be overzealous too soon?
    Metal detector?
    Uncle had one, and had silver and gold collection.
    He's gone now, but maybe a few swipes in his old back yard in the middle of the night would be a thought!
    Just kidding.
    I bet not one person could find your stash, but though with much thought and consideration, I will have to sadly decline the offer to donate to charity you suggest! Lol
     
  14. <===Foolsgold

    <===Foolsgold Gold Chaser Site Supporter ++ Platinum Bling

    Joined:
    Mar 31, 2010
    Messages:
    3,875
    Likes Received:
    3,447
    Trophy Points:
    113
    Location:
    Pennsyltucky
    Indeed.
     
  15. gliddenralston

    gliddenralston Gold Member Gold Chaser

    Joined:
    Apr 1, 2010
    Messages:
    1,052
    Likes Received:
    831
    Trophy Points:
    113
    You'd be surprised how many elderly people have a can of junk silver sitting in their closets for decades, just ask, and treat them right...believe me it works.
     
    solarion and gabriel2005 like this.
  16. Uglytruth

    Uglytruth Gold Member Gold Chaser

    Joined:
    Apr 6, 2011
    Messages:
    3,284
    Likes Received:
    3,774
    Trophy Points:
    113
    You should look into something like this. There was a thread on how to spot fakes that has a LOT of info in it.

    [​IMG]
     
    gabriel2005 likes this.
  17. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

    Joined:
    Mar 25, 2010
    Messages:
    22,915
    Likes Received:
    23,776
    Trophy Points:
    113
    actually, we are just behaving for a bit,

    being judgemental comes later :0)
     
  18. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    2,591
    Likes Received:
    3,876
    Trophy Points:
    113
    ^^ lol Really this thread is like a first date.
     
    gabriel2005 likes this.
  19. Fjpod

    Fjpod Silver Member Silver Miner

    Joined:
    Jan 3, 2014
    Messages:
    432
    Likes Received:
    174
    Trophy Points:
    43
    Not to cast a negative tone, but when you are buying and selling PMs, (notice I didn't say investing in), you have to be very aware of not being taken advantage of by unscrupulous dealers and marketeers. There are some good ones. But even with the good ones you will need to wait many years, or hit the jackpot of a sudden price rise to make a profit. In my experience, coin shows are not a good venue for profitable buying. ... But you will learn what a lot of products are selling for so you will recognize a good deal when you see one.

    Think of PMs as a way of preserving the value of some of your wealth for the next generation over time.
     
    gabriel2005 and Scorpio like this.
  20. birddog

    birddog Gold Member Gold Chaser

    Joined:
    Feb 28, 2011
    Messages:
    2,270
    Likes Received:
    2,268
    Trophy Points:
    113
    Nice thing about coin stores is the anonymity. Buy with cash (under the $10,000 - I think they have to report sales over that) and it isn't trackable.

    Sovereign means coins that are minted by a government mint that have a denomination value.

    By 50/50, i meant that I usually split my buys between 50% gold to 50% silver. Some folks buy at the same ratio as the reported gold/silver ratio. http://goldprice.org/gold-silver-ratio.html Right now it is 1 oz gold to about 68 oz of silver.
     
    gabriel2005 likes this.
  21. Uglytruth

    Uglytruth Gold Member Gold Chaser

    Joined:
    Apr 6, 2011
    Messages:
    3,284
    Likes Received:
    3,774
    Trophy Points:
    113
    Some also play the ratio. When it's wide they buy silver & when it closes up they trade it for gold to increase ounces held with no outlay.
     
    gabriel2005 and D-FENZ like this.
  22. birddog

    birddog Gold Member Gold Chaser

    Joined:
    Feb 28, 2011
    Messages:
    2,270
    Likes Received:
    2,268
    Trophy Points:
    113
    Now where is that graph? Found it.....


    IMG_0193.JPG
     
  23. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,213
    Likes Received:
    2,906
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    at $50 buy points you have limited choices.......IE.... 1 gram of gold +........2 oz of silver +........4$ face of 90%.......

    point is at this buy level most precious metal products are way over priced and shipping is a issue.......i would suggest sticking to buying Junk (90%) silver at local coin shops cash n carry at this buying price point

    90% silver is currently trading around $13 over face value........meaning for every one dollar of silver coinage you buy it will cost you 13$ of cash money.

    90% junk silver is US coinage minted 1964 and before (dimes, quarters, halves, dollars)

    advice on this thread will vary based on purchase points...at one point you mentioned 40K....another 50$......these represent totally different levels of commitment, risk and methods and advice will vary accordingly....
     
    Last edited: Dec 14, 2016
    Son of Gloin likes this.
  24. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

    Joined:
    Apr 4, 2010
    Messages:
    4,119
    Likes Received:
    3,660
    Trophy Points:
    113
    Gender:
    Male
    Check this site / Company. I have ZERO investment interest in this company but I have purchased from them.
    They call Junk Silver "Fractionals" and they sell as low as Ten Dollar Face Value ( Yep, higher than $50.00 "Toe in the Water" first purchase) But at least you'll get an idea of what you are looking at from national companies.
    HOME PAGE : www.moneymetals.com

    FRACTIONALS / JUNK SILVER Page - https://www.moneymetals.com/pre-1965-junk-silver-coins-dimes-or-quarters/35
     
    gabriel2005 likes this.
  25. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

    Joined:
    Mar 28, 2010
    Messages:
    25,950
    Likes Received:
    27,797
    Trophy Points:
    113
    Occupation:
    Tech
    In any case, what you have done correctly is stumble onto GIM!

    There is a wealth of knowledge and help here. Folks here have a reputation and would like to keep it. :D

    Post your questions on potential buys and someone will give you help and advice.

    There's a buy n sell forum here as well. Sometimes there are things for sale!
     
    Last edited: Dec 17, 2016
    gabriel2005 and solarion like this.
  26. Duckworth

    Duckworth Site Supporter Site Supporter Seeker

    Joined:
    Jul 2, 2015
    Messages:
    152
    Likes Received:
    161
    Trophy Points:
    43
    Location:
    Mid Atlantic Coast
    Nobody needs to know that doesn't need to know. None of my friends have any knowledge of my interest in this. (family either except my wife) As far as getting scammed goes, buy silver and gold eagles from a reputable dealer like JM Bullion or others named here you can't go wrong. You can double down on that by purchasing new issues only and that eliminates the chance that they have possibly bought back any fakes as those will have come straight from the mint.
     
    gabriel2005 likes this.
  27. Son of Gloin

    Son of Gloin Gold Member Gold Chaser Site Supporter ++

    Joined:
    Apr 6, 2010
    Messages:
    1,684
    Likes Received:
    2,339
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Delivery boy.
    Location:
    USA
    Go to eBay and find Apmex there. They sell at about all levels. From individual Silver Eagles, to rolls of Eagles, Morgans, silver halves, quarters, dimes, etc. all in various states of preservation. Then there's gold coins from mints all over the world, in various states, including American gold Eagles and Buffalos, fractional gold coins, British Sovereigns, European gold Marks, Kroners, Francs, Lires, Drachmes, etc. You have your pick of all kinds of stuff to view and compare and choose from. Plus, they're very reputable. I have always received my stuff, as ordered and in the state listed. If it would get lost in the mail (unlikely), they would take care of it, it's all tracked. Their only problem is they tend to grade a tad liberally, but it's negligible, in my opinion. Any way, you can buy at any level. From about twenty bucks, on up.
     
    Last edited: Dec 14, 2016
    gabriel2005 and Weatherman like this.
  28. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

    Joined:
    Apr 9, 2013
    Messages:
    5,472
    Likes Received:
    7,439
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Free Marketeer
    Location:
    North Carolina
    Buy the underlying metal value - don't pay a premium for a specific coin due to its scarcity or demand
     
  29. Fjpod

    Fjpod Silver Member Silver Miner

    Joined:
    Jan 3, 2014
    Messages:
    432
    Likes Received:
    174
    Trophy Points:
    43
    I agree with not discussing your PMs with anybody.

    Apex and such are great. I have made good purchases from them, but I have found a good lcs that consistently sells for less. I have probably visited 6 lcs, all but one were significantly higher.
     
    gabriel2005 likes this.
  30. 90%RealMoney

    90%RealMoney Midas Member Midas Member

    Joined:
    Apr 22, 2011
    Messages:
    4,105
    Likes Received:
    3,040
    Trophy Points:
    113
    Location:
    Left Flank, Oceana...Locked and Loaded!
    You can purchase 10 ounces of silver for spot right now on JM's website. I think it's a one time deal, so if you have done it in the past, that's it. You get a nice velvet bag for your first 10 ounces to sleep in as well!
     
  31. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,213
    Likes Received:
    2,906
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    :) and free shipping......seemed like several of my family members names and addresses was used on that deal its a no brainer of a deal .......but it sure doesnt fit into the OPs 50$ buy point
     
    90%RealMoney and GOLDBRIX like this.
  32. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

    Joined:
    Apr 4, 2010
    Messages:
    4,119
    Likes Received:
    3,660
    Trophy Points:
    113
    Gender:
    Male
    BUT maybe Gabriel..., Has some "wiggle room" to make her first purchase. Plus if she dollar cost averages during her accumulation period it will work out for her in the long run.
    I speak for myself I NEVER been able to hit an absolute low on a Buying Spree. I have always done well long term D.C.Aing.
    AND
    I NEVER sold at the all time high.

    "Bears Make Money, Bulls make Money, HAWGS get SLAUGHTERED".
     
    gabriel2005 likes this.
  33. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,213
    Likes Received:
    2,906
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    the REAL buy point is critical to soliciting good advice....90% of our advice for her does not fit a 50$ buy point......

    practically speaking she said she was investing ~40k.........at 50$ buy points that is over 2 years of buying one unit every day ....just not efficient or practical....

    nothing wrong with playing small ball....or big ball......each has its own set of rules....does absolutely no good to advise something she is not willing or able to do
     
    Silver likes this.
  34. Silver

    Silver Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,436
    Likes Received:
    2,442
    Trophy Points:
    113
    HOW DO I GO ABOUT BUYING SILVER? TOTALLY NEW TO THIS

    And the answer to your question in a nutshell - You make your money when you buy! We appear to be at a pretty good buy point right now, IMO.
     
    Last edited: Dec 16, 2016
  35. gabriel2005

    gabriel2005 New Member Seeker

    Joined:
    May 4, 2016
    Messages:
    88
    Likes Received:
    56
    Trophy Points:
    18
    Gender:
    Female
    Maybe you ought to go back to my original summary?
    Hmmmm, seems like I said I welcome all good advice?
    So what if I am hesitant about making a major change with the way I'm going to invest money?
    Did you know everything at first?
    So, with that being said, I've learned a lot from HELPFUL PEOPLE teaching me where to go, what to read, etc.
    Oh, and by the way....I've gotten more than 90% advice that I will follow and use at my own comfort level and it's not your position to assume the 90% is too far from my reach and use.
     
    GOLDBRIX likes this.
  36. Uglytruth

    Uglytruth Gold Member Gold Chaser

    Joined:
    Apr 6, 2011
    Messages:
    3,284
    Likes Received:
    3,774
    Trophy Points:
    113
    I think a lot here have bought in both big and small bites over a period time. Some high, some low, but doubt if many ever sell, they hold...... so it don't matter as much. Maybe their grandkids will be helped.
    I never got any $7 silver or $400 Gold like many here did (some are so old they got $35 gold) but I'm comfortable in my decisions.
    I also understand that metal prices are being manipulated so that gives me a level of comfort also.
    Will reality ever return to the markets? Who knows. But like a good boyscout I have reached a level of comfort in being prepared as I feel I need.
     
    gabriel2005, Zed, pitw and 1 other person like this.
  37. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,213
    Likes Received:
    2,906
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa

    Best wishes for the Holiday Season and good luck with your investing future......
     
  38. pitw

    pitw Gold Member Gold Chaser Site Supporter

    Joined:
    Jun 25, 2013
    Messages:
    2,728
    Likes Received:
    2,539
    Trophy Points:
    113
    Occupation:
    Custom pesticide applicator.
    Location:
    Eastern Alberta.
    You are a better man than I.
     
    searcher, Glasgow, Silver and 2 others like this.
  39. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

    Joined:
    Mar 28, 2010
    Messages:
    25,950
    Likes Received:
    27,797
    Trophy Points:
    113
    Occupation:
    Tech
    ...and that's how the fight got started...
     
    Glasgow likes this.
  40. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,213
    Likes Received:
    2,906
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    lol...nope...as i age i choose when and where to waste my valuable time...
     

Share This Page