Bought my first american eagle.......

Working 4 U · Sep 19, 2012

So with the latest QE3 I decided to start diversify my portfolio and start buying some silver. I have heard and read in some books about the 1 oz (thats troy ounce) american eagle. So I looked up a couple of places here in the valley and went, talked to the guy and bought my first one. So, yes I have checked the price of silver every day since then, and I'll be darned I already lost money. Down .06 cents today. Leave it to me to bet on a horse that starts from the kneeling position. Oh well. I'm not really bummed I know it flucuates like the wave on a beach.

But I was a little disheartened when he said it was made and backed by the U.S. Government. Not so sure I even trust that.

I am surprised at how many different silver coins there are: Canada, mexico and australia to name a few.

That makes me question which is the best? Is some better than other? If you collect silver, do you buy in person or mail order? If you mail order from who (kitco, goldline) and do you go with coin or ingot. There was so much to choose from.

Well anyway give me your thoughts.

mrblond · Sep 19, 2012

well, if the economy takes a dump as people think it will next year, the silver and gold prices should rise again.

Sgt Nambu · Sep 19, 2012

+1 with mrblond. I see silver as a hedge against hard times rather than an "investment" per se. I bought silver a number of years ago and it rose and fell regularly but when I needed it it was up and I made a few much needed dollars. Luck of the draw though! If the silver is .999% fine there should be no difference, an ounce is an ounce.

mcm1979 · Sep 19, 2012

Junk silver is a good way to go as well. Old silver coins. Less premium. Awesome if you can buy the .999 at spot though. I was buying when it was $12 an ounce!

Decker · Sep 20, 2012

Welcome, brother, to the awakening.

Sun195 · Sep 21, 2012

Well, it's never going to be worth nothing.

cade · Sep 22, 2012

Any idea where the best place to buy junk silver would be?

viehmann7680 · Sep 24, 2012

I buy bullion and pre 1963 coins. It doesn't matter who makes it or if its even a coin. All that matters is the silver content. And I wouldn't bother checking everyday, unless you're just checking for a good time to buy. with QE3 its more of a long term investment. It'll shift around, up and down in the short term. But check next year and you'll be suprised.

Looking for junk silver is hard because most people that have silver know it. You can check E-bay they always have lots of precious metals in various forms. Or if you are wanting to take the time, check out flea markets, garage sales or auctions. You still need to watch out for silver plating and sterling silver though. know which you are buying.

check out the NWmint.com they sell stagecoach silver. I like these because you can get 1oz bars or rounds and they can be broken down into 1/4 pieces and they also sell fractional gold coins as well. A little to expensive for me still would like to get some

Working 4 U · Sep 24, 2012

Viehann7608 - thanks for the heads up, I will keep on the look out those places you suggested. I like the idea where you can break down the silver into 1/4 pieces. I am with you on the gold. I can't afford that.....yet. So for me its just lead, silver food and water. I am doing this for 2 reason one to diverseify and the other is not if but when the dollar tanks. Wish I had the room to store some barrells of oil.

Burt Gummer · Sep 25, 2012

If you are watching for a .06 dip and nervous about it, then silver might not be right for you. Silver is also just a substitute for dollars savings only and should only be bought after all the other 'must haves' are covered.

I love silver whether it is $5 or $150. Why? Because I know it will be worth SOMETHING when the dollar is worth NOTHING.

QE4? The Big Wall Street Banks Are Already Complaining That QE3 Is Not Enough

pokerace · Sep 25, 2012

I can't find NWmint.com..

have you got a good link???

Working 4 U · Sep 25, 2012

Yeah I agree with you, I believe it will go up over time. I am not worried about it as much as I was trying to make a funny, apparently I failed at my feeble attempt of humor. Remember the one who laughs last is the slowest.

I think this is what viehmann meant: Stagecoach Silver Bullion from Northwest Territorial Mint

Have a good day.

viehmann7680 · Sep 25, 2012

yes that is what I meant. Sorry, I should have taken the time to get that right.

JackThompson · Sep 25, 2012

Hmm, I have a Troy ounce silver coin (Might even be an Eagle)

I bought it back in 1990 for $5. What is the going rate now and where can I get them in Vancouver?

Working 4 U · Sep 26, 2012

Hi Jack

Going rate little less than 34.00, not sure where you can get them in Vancouver. Tons of places on line. Check the web site viehann mentioned I think is pretty cool with the pieces you can break into fourths NWTmint.com

MissJ · Sep 30, 2012

A couple thoughts here: First...Congrats on opening your eyes...what you see won't be pretty but it will be worth it in the end....

I've been investing in silver for 4+ years now and I must admit I chuckled a bit inside when I read about the 0.06 difference. I also check the silver prices almost every day and I don't bat an eyelash if it is less than $1.00 difference up or down....

+1 on the "it'll never be worth nothing" comment

+1 on the buying junk silver recommendation....same silver, just a cheaper mark up

a nice way to think about buying silver is this: Don't go out into the marketplace trying to find some great deal on silver....it doesn't exist. If you find some pre '64 silver coins at a garage sale, or in your piggy bank it is akin to finding a $10 bill on the sidewalk...an unusual, yet fortunate event, but not something to wait around for. Don't build your plans around waiting to trap lightning in a bottle.

Silver should always be able to be bought at a fair price for that particular day. In essence, THAT IS WHY WE LIKE SILVER....the fairness of the economic transaction. It is a relatively constant unit of measure. It is not the price of silver that is changing, it is the perceived value of the dollar. In essence, silver is not a way to make money. It is a way to preserve your buying power. The only way you lose money on silver in the long run is if the price is artifically inflated (a bubble) AND you happen to buy it then. There may indeed be silver bubbles, I know they have happened in the past....but I think there are many far worse bubbles to be concerned with.