Investing in silver bullion....

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Kurosawa's picture
Kurosawa
Status: Bronze Member (Offline)
Joined: Jul 2 2008
Posts: 43
Investing in silver bullion....

So I'm wondering is it worth investing in 1 troy ounce of silver rounds?

 When it does come to sell, rounds can be made by any sort of third party mint company so what's the process of selling? Is it better to buy rounds from certain mints?   

 I just foresee it being rather difficult to see a bunch of random silver rounds when it comes time to sell since it wouldn't be too hard to forge silver rounds.

rci2145's picture
rci2145
Status: Member (Offline)
Joined: Jan 3 2009
Posts: 24
Re: Investing in silver bullion....

If you want to invest in silver in a highly recognizable way, you can buy 90% silver U.S. dimes, quarters, and 50 cent pieces minted before 1965.  They sell them in units of "junk silver bags."  You really can't forge these and they are a highly recognizable and divisible.  Peter Schiff recommends them.  The cheapest places I've seen them is on ebay and a place called goantiques.com.

affert's picture
affert
Status: Silver Member (Offline)
Joined: Sep 22 2008
Posts: 100
Re: Investing in silver bullion....

www.goldeneaglecoin.com has junk silver coin bags for slightly cheaper than goantique.com has them.  They also have a larger selection of choices.  If you can afford to buy a full bag, http://www.golddealer.com has even cheaper prices than the golden eagle. 

 I have purchased from golddealer in the passed.  Their shipping is slow, especially if you use a personal check, but the shipping fit their description.  I recently made a purchase through goldeneagle that hasn't arrived yet, which is expected.  If I think of it, I'll put a post up saying what I think of their shipping.   Both have high ratings with the BBB. 

I am not affiliated with either company in any way other than customer.

Kurosawa's picture
Kurosawa
Status: Bronze Member (Offline)
Joined: Jul 2 2008
Posts: 43
Re: Investing in silver bullion....

When it comes time to sell silver it will be much more easy to sell off American coins with a high content of silver opposed to pure silver bullion?  It seems it would be higher maintenance to sell off the American  coins since it would have to be melted down....

 Anybody have tips for the amateur? What's the process when selling silver anything to watch out for? 

ckessel's picture
ckessel
Status: Martenson Brigade Member (Offline)
Joined: Nov 12 2008
Posts: 481
Re: Investing in silver bullion....

Kurosawa,

I use a local "coinshop" for my transactions. He is very knowledgeable about the various gold and silver products, can help educate you on the process of buying and selling and he operates in "cash" so to speak. No paper trail on the transaction.

Not sure what advantage the latter may be but it is a thought.

Anyway, his prices are very competitive with other vendors mentioned on this site and he will buy product at any time as well if you want to cash out. I suggest checking to see who is in your area.

Coop

DaveBurton's picture
DaveBurton
Status: Member (Offline)
Joined: Sep 24 2013
Posts: 1
Re: Investing in silver bullion

As a coin collector, I would personally recommend investing in old silver coins as opposed to silver bullion.  Silver coins have the advantage of numismatic/collectible value, which will help them appreciate in price above and beyond your typical silver round or bar.  And in many cases, you can buy silver coins and silver dollars even closer to spot than you might be able to buy bullion.  I've bought a few old US Peace and Morgan silver dollars [Adam: plug for dealer redacted, possibly spam], though their prices might be a bit high for pure bullion purposes.  But even if the bullion prices don't rise, the value of the rare coins themselves will still continue to increase.  

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