Silver - How low will it go?

[xacex]

xacex....needed firearm purchases????????????....I'm calling you on that one.....lol.

Shotter93, your not my wife sneaking into these forums are you?

[dragon813gt]

I stop in as many banks as possible and ask if they have any half dollars. You'd be surprised at how many pre 64 coins I've picked up this way. It's not like I'm picking up a roll at each bank. But a couple coins a week times a couple years has netted me quite a bit. I don't like paying the premiums the dealers charge for junk silver. And you have to buy in large lots.

[Bad Water Bill]

For your information.

It takes $1.25 in silver coins to = 1 oz of silver or it used to.

Silver coins WERE sold in 1,000 oz bags.

Also keep in mind ,when the markets closed Hunt had driven the price to almost $50.00 and when the market opened on Monday the price was about $6.00 because the market caught Hunt and his Arab friends having over extended their credit.

Yes they lost a ton and so did several businesses I had dealt with.

[Merick]

Coin dealer spreads are pretty extreme against a lot of other investments.

Spot price determination now days is far less tied to reality than in the Hunt times.
http://www.zerohedge.com/news/2015-0...-we-have-proof

[Twmaster]

For your information.

It takes $1.25 in silver coins to = 1 oz of silver or it used to.

No. It's $1.40 face value 90% coins to make 1 troy ounce of silver.

I buy silver every payday regardless of price fluctuations.

Folks can flap and gas over the prices but nobody buys for spot in the retail market. There is always a premium.

[A pause for the COZ]

Ok, I have a question how are you guys buying silver, in coins, bars, etc?

Just started buying some in small amounts as funds permit. I have made 4 orders from these guys and it went very smooth.

http://www.jmbullion.com/

Not buying as an investment exactly. Just an emergency stash.
If paper money becomes worthless may still be able to buy a meal.
But mainly as a movable asset with no government tracking. ( I hope)

Saw what happened to my Mother after 8 months in a Nursing home. After Medicare cut her off she went on Medicaid.
County locked up all her bank accounts.
The Vultures circle until its gone.

If some thing like that happens to me. At least my Son will get a brief case from Dad.

[dg31872]

One thing to consider...Don't buy on the way down. Wait until the market finds the bottom for you, then when it slowly starts back up, buy.
You don't want to catch a "falling knife".

[MaryB]

With premium right now you are going to be paying $18+/oz right now. Spot goes down, premiums go up... Apmex wants $19.14 for silver eagles right now, $15.24 per $1 face 90% US silver mercury dimes. Miners are shuttering operations and laying off workers, only ones still in production are the ones who have to supply silver per contract.

[Handloader109]

I'm being a bit of a contract and, like that is new. How many millennials do you think know a silver coin vs a plated coin? I'm not talking about showing them and them believing you, how many Know that even difference? I'd bet 5% and getting fewer. So are they going to take that silver coin in exchange for that can of beans? Just saying....

[jonp]

The $13 price is the market price. Then add in about another $1.20 an ounce if you buy 100 ounce bars from a place like APMEX. But nothing is in stone. I had one 100 ounce bar in the cart just about an hour ago and wife didn't feel comfortable about buying it so will wait and see.
Got a 50/50 chance I did the right thing, lol.

PS: I never had a problem selling bars since buying my first one in the 1980's. AMPEX will buy their bars back at spot.

and how many silver bars have you used as payment for something?

[rancher1913]

for anybody worried about paying to much, go to a pm dealer and try to "buy", there is none to be had at any price. the quoted prices are for "paper silver" and we all know what paper is worth. it may go lower but I'll keep buying as long as I have extra money, rather have silver than a saving account.

[bob208]

price of junk is down too. used to get $400 + for junk cars. now down to 250. lead as dropped too.
I have been to auctions where scrappers were buying new brass bars and chopping them up for scrap. watched a lot of good machines go for scrap.

[Love Life]

Mmmmm silver. I've been buying it since a roll of Mercury dimes was $7.00 at the Jockey Lot flea market. Such a pretty metal.

[osteodoc08]

Does anyone have some sort of reference I can educate myself on silver coinage and how to buy it for the layman? I have always been interested in buying silver coin, but don't know where to start and would like to have a strategic store.

[Love Life]

Go to a reputable seller, and just buy the coins that make you happy. You can also scour banks, flea markets, garage sales, craigslist, etc.

When buying from a company, I prefer Maple Leafs 1st and Silver Eagles second.

Do not buy silver if you may need the money back out of it in the next 4-6 months. Just my rule of thumb.

Also keep in mind, what you buy it for today isn't what you'll get for it today. Example: You buy 10 silver maples for $19.00 ounce. You come to me to buy something, but want to use silver. I google spot and it says $16.43 per ounce. That's all I'm giving you in value is $16.43 an ounce and you will lose money buying the item from me.

Buy and hold until it is selling for a price you are happy selling at. At the end of the day, it's kinda cool to just run your hands through it.

[snowwolfe]

and how many silver bars have you used as payment for something?

None, they were bought and sold as an investment because they carried the lowest premium above spot.

If you don't like bars then buy what you want.

[beanflip]

I just had to have this 308 .999 2oz silver bullet.

[Bad Water Bill]

HI HO SILVER

AWAY

[bangerjim]

Does anyone have some sort of reference I can educate myself on silver coinage and how to buy it for the layman? I have always been interested in buying silver coin, but don't know where to start and would like to have a strategic store.

Find a local reputable coin and/or metals dealer. Or one of the coin mongers on TV....the big guys. I would not trust Craig's list or ebay at all!!!!! Or swap meets. And you can spend the rest of your life visiting every bank you see trying to find the one-off real sliver coin. If you buy older USA silver coins from a reputable precious metals dealer, you will know they are real because of the wear and condition. The dates tell you all you need to know to avoid the newer sandwich garbage we now mint.

Bullion ( new 1oz coins and bars) is easily faked. Even foreign coins. Stick with older Franklin or Liberty halves or Morgan silver dollars. Trading/using bars of silver or gold is not for the normal precious metals "hoarder" like us. Unless you want a nice door stop. Most will never recognize the touch marks or assay marks on bars of precious metals.

The key to future value and usefulness is verification. Whatever you buy, be sure it is authentic and verified. All my gold is in coinage and each is verified, sealed in plastic cases, and clearly marked by an authorized rating organization. Silver is all half & silver dollars (very old ones) from USA mints and are the real thing, not maple leaf or polar bear shiny things off TV. (no offense to our northern buddies).

Do your research, and find a good trustworthy dealer locally. You will NEVER buy at the spot price you see on the ticker!

Good luck!

banger

[osteodoc08]

banger,

So what is the difference, value wise, from a newly minted coin of 1 Troy ounce silver (maple silver coin or minted eagle silver dollar from, say, jmbullion as listed above) compared to equal Troy ounce of an older silver dollar?