Buying Silver Bullion

[nehalemguy]

A somewhat related fact.....Gold and Silver American Eagles are exempt from 1099 reporting in any quantity when sold.

Also, silver hit a six year low last week.


E

 

[erudne]

I bought some gold/silv in 1991
and again following 2008 +2012
the bubble that burst was the paper bubble which was dumped when it was realized that there was more paper than PMs (sound familiar)

 

[Dallas Ken]

Invest in 'THE BIG THREE'.............. you can't loose.

WINE
WOMEN...........................and
SONG

Good Day Gent's,

 

[wired]

I wouldnt touch any commodities right now. China is in bad shape and none of this stuff is based on true supply and demand. If silver didnt drop to under $8 an ounce in the next year I'll be surprised. Gold under $600.

 

[Who The F R U]

3K is the bank reporting #
Not 10.

 

[jbett98]

Chase now requires your ID for any cash deposits into your personal accounts.
They won't give me a decent explanation why, just that it's suppose to track criminal transactions or some other BS.

 

[Who The F R U]

Its not Chase it's Homeland D=bag's
Chase plead guilty to laundering something like 300+ Billion for Drug cartels and then to monetary rate manipulation.

They got a .001% fine for doing it 0n the 300+ billion they profited from doing it.

AND Nobody goes to jail??????????????

 

[garagenoise]

I stopped at NWTM this past Friday...I couldnt buy 20 oz of NWTM rounds....4-6 week wait time. Also no other rounds or bars to buy and walk...unless I wanted 5 oz ATB (America the Beautiful) rounds.

 

[wired]

4-6 week lead time? WTF?

A few months ago I had an old gold tooth that made way for an implant. I gave it to one of my kids for spending money . He went to the local place that "buys gold" and they told him they didnt have any money. Maybe he could come back next Friday.

I have no idea how some of these places stay in business.

 

[nehalemguy]

I stopped at NWTM this past Friday...I couldnt buy 20 oz of NWTM rounds....4-6 week wait time. Also no other rounds or bars to buy and walk...unless I wanted 5 oz ATB (America the Beautiful) rounds.

Yep. Been that way for a few weeks.

The dip below $15.00 per ounce has sparked a huge demand for physical silver nationwide by private buyers and institutions alike, causing silver coins and bars to quickly become in short supply. Also was the fact that just a week and a half earlier before the drop to below $15.00/oz, the United States Mint exhausted it's stock of the extremely popular Silver Eagle Coins, and suspended sales until they could mint more to fill existing orders and replenish it's stock.

E

 

[garagenoise]

NWTM pretty much said the same thing...they also said for there NWTM rounds that they only make them when demand dictates and if they have silver on hand...nobody is selling silver they are buying at these prices...

 

[erudne]

so buy early and avoid the rush?
The next best PM is copper, brass and lead
The bargain of the day is 12 GA field/trap loads
high supply and low demand
But they can be turned into slugs w/hot melt glue
PS avoid the rush
Buy hot melt glue sticks!

 

[Steve32]

I got some, but I wouldn't recommend trust anyone if you purchase. Face-to-Face or online, doesn't matter. It's better if you look up the largest, trustworthy corporations and buy from them. China producing fake silver and gold and there is no way telling it's fake. They sell it for a dollar or so. eBay, Amazon, out of the question, because of that. I got my from JMB, but there is Apmex and others too.

 

[markl32]

This is what I think to. Just look what has happen to Oil recently.

 

[markl32]

I wouldnt touch any commodities right now. China is in bad shape and none of this stuff is based on true supply and demand. If silver didnt drop to under $8 an ounce in the next year I'll be surprised. Gold under $600.

This is what I think to. Just look what has happen to Oil recently.

(this time with a quote for context...)

 

[twa2471]

I can't say as thought I did to bad on gold, I'd bought it when it was around 46 bucks an ounce and sold it when it was @1850 p/oz. over about a 12 year span. So you can make a few bucks on it if you are willing to take the risk and keep abreast of current markets. I never had enough to become rich, but all in all I'd have to say I did OK overall.

But then I sold it when all the stocks were crashing and metals were going nuts in price, it's all about timing and having a big set of garbanzos to hold out for good returns, simple as that. My investment increased 40 fold and to me that's was a much better option than paper stocks that could be absolutely worth nothing if a company folded. And at that time ,,it was a common occurrence.

Very little gold now other than scrap gold and a few bars, but plenty of silver still , which most I bought right several years back, much of which was purchased at <3-4 bucks p/oz. Coins are OK but won't be worth squat collector wise if things go South, it will only be worth spot when actual collector value drops, don't forget that. I've seen it go both ways, but if your buying coins you'll pay way more than spot, junk coins and bars bought from a mint are the only way to go IMHO, and will cost way less that way. Coins especially rare ones have a HUGE mark up over spot and are not necessarily a great investment.
I agree it's all a game price wise when it comes to precious metals markets,,,but if your smart and observant you can play the game too and not get hurt. Just don't invest more than your willing to loose and play the game the same way the big boys do. It's still a good investment IMO if you do it right,,it's a long term thing and not for the faint of heart or short term investing,,plan on a minimum of 10-15 years holding on to it if you want to make any $$$. Otherwise,,not all that good an idea.

 

[kilimanjaro]

For bullion coins, the Canada Maple Leaves are a lower premium over spot than the US Liberty coins. No reason not to buy them if available.

I think silver is at a plateau for the year, so I'm stocking up while spot is down.

 

[erudne]

Back in the day when the only place one could by silver dollars was Las Vegas, NV my uncle gave each of his children 100 US silver dollars when they turned 18. Those silver dollars are now worth far more "US dollars" then he spent to buy them (one paper dollar per silver dollar)
The value of the silver never altered, just the value of the US paper dollar
One pays one's money, buys metal and prays one never need's it. In 3rd world nations anyone with wealth has gold, even if it is jewelry, it is GOLD and those gold chains are carefully measured as to their worth, each link has a value, not measured against a dollar, but against 100% gold.
You will never make a profit with PMs but you may beat hyperinflation and live to tell the story

 

[olddanshooter]

Bought some silver recently, 10 oz bars are available that are pretty easy to resell. With the dollar so strong and the possibility of it weakening it's nice to spend a few dollars on something "real."

Sunshine Minting from Idaho is a good item to buy, from a reputable dealer. As it was mentioned earlier, there are fakes of everything out there.

Silver was heading up today! I'm in it for the long haul and hope I never really need it. But it's good not to have all your eggs in one basket... Bank or currency.

 

[erudne]

Bought some silver recently, 10 oz bars are available that are pretty easy to resell. With the dollar so strong and the possibility of it weakening it's nice to spend a few dollars on something "real."

Sunshine Minting from Idaho is a good item to buy, from a reputable dealer. As it was mentioned earlier, there are fakes of everything out there.

Silver was heading up today! I'm in it for the long haul and hope I never really need it. But it's good not to have all your eggs in one basket... Bank or currency.

Is this minted as produced in ID, so it escapes some fed oversight?