Buying silver

[Arkarayne]

So, unless I can get it for at/just above value on ebay, with reasonable shipping costs, don't sweat it and hold the money for larger oz purchases from Mints, ya?

 

[Dan-Dee Sales Inc]

This guy is in Corvallis and prices do not seam bad.

http://www.mjpm.com/

 

[dave]

So, unless I can get it for at/just above value on ebay, with reasonable shipping costs, don't sweat it and hold the money for larger oz purchases from Mints, ya?

I think so. Sure cant hurt to check out the local coin shops. I havent had any luck with them here. I think some of them are selling on ebay.

 

[Decker]

So for the mathematically challenged a $1 silver dollar is how many ounces? And a half dollar would be half of whatever that weight, correct?

-D

 

[Dan-Dee Sales Inc]

So for the mathematically challenged a $1 silver dollar is how many ounces? And a half dollar would be half of whatever that weight, correct?

-D

A silver dollar is 90% silver and is worth about $11.26-$12.26 depending on if you are buying or selling. That is from the above link.

 

[dave]

So for the mathematically challenged a $1 silver dollar is how many ounces? And a half dollar would be half of whatever that weight, correct?

-D

Sorta kinda, A half dollar does in fact weigh 1/2 of a $1 coin.


But, these coins are not .999 fine silver.
This site has great info for US coin prices based on their silver content.
http://www.coinflation.com/silver_coin_values.html

Arkarayne and I were speaking of actual bars or rounds like shown in above pictures that are not US currency, just pure silver in gram or ounce denominations.

So, that $1 coin on the scale that weighs 22.6 grams is made with 40% silver. It is currently worth $5.20.
The half dollar is 90% silver it weighs 11.3 grams and it is valued at $5.93.

I think I may make it sound complicated, mixing currency with bar stock. But its after my beer time!

 

[coctailer]

What are those teeny-weeny silvery thingys?

 

[dave]

Those are the grams we were speaking about earlier. They are dinky. That bag has 32 in it. They measure 5/16" wide and 5/8" long. Kinda cute buggers.
The 2 on the left are 1 gram. Next to them is a 2.5 gram then a 1/4 ounce and a 1 troy ounce bar.
For reference that is a .45 fmj.






I gave my photographer the night off obviously!

 

[Arkarayne]

Yeah, I'm looking into getting bullion, not silver-content currency. because, frankly it's easier to look at .999 pure bars and rounds (i prefer bars, dunno why.) and know what you have, and, most countries frown on you melting their coins. (though collector value is currently higher then metal value in some cases, that can all change reeeeeallly quick.)

 

[dave]

I agree with you. I prefer bar stock as well. Coins can get real confusing quickly with the collector values and rarity as well as grading. Im only interested in melt values.
The bars and rounds make that real easy.

 

[Decker]

http://www.coinflation.com/silver_coin_values.html

Arkarayne and I were speaking of actual bars or rounds like shown in above pictures that are not US currency, just pure silver in gram or ounce denominations.

So, that $1 coin on the scale that weighs 22.6 grams is made with 40% silver. It is currently worth $5.20.
The half dollar is 90% silver it weighs 11.3 grams and it is valued at $5.93.

I think I may make it sound complicated, mixing currency with bar stock. But its after my beer time!

Very interesting. Long ago my grandpa and I would collect coins and stuff and several months ago I dove into the coin collection for the first time in decades to show to my son and I didn't realize what all had been in the collection so I'm trying to sort it all out. There's 47 silver dollars with the newest one being a 1923 along with several gold coins and a few dozen nickels/dimes/quarters. All that to say, it sounds like it would be best to keep these separate and start picking up some bars...

-D

 

[Arkarayne]

That's also why I want grams, 1/10 oz, 1/4, 1/2 oz pieces, cause, well it's kinda like the "making change" concept. (loaf of bread, 2 grams. shirt, 30 grams. etc.)
Avoiding a speculative future discussion, if the old currency (gold, silver, copper) becomes the new currency, it doesn't hurt to have a diversified collection of sizes.

Very interesting. Long ago my grandpa and I would collect coins and stuff and several months ago I dove into the coin collection for the first time in decades to show to my son and I didn't realize what all had been in the collection so I'm trying to sort it all out. There's 47 silver dollars with the newest one being a 1923 along with several gold coins and a few dozen nickels/dimes/quarters. All that to say, it sounds like it would be best to keep these separate and start picking up some bars...

Or, sell some, not all and buy bars/rounds from that.

 

[tionico]

minted dated rounds and bars are best for silver value, that will never change. Common weights, one ounce, hundred gram, etc. .999 fine grade. Name mints are best, they;'ve solid reputations for quality.

Silver Eagles are good, but there are variances that can get strange. Proof coins are made from highly polished dies, multiple strikes, and are beautiful.... and pricey. You are buying significant "collector value" by virtue of their appearance. Some specific dates are far more rare than others.. thus, again, collector value. I like to buy Silver Eagles for two, maybe three, bucks over spot value. that way, you've got the possible upside of increasing collector value, yet are paying weight value, which will not change.

Foreign one ounce .999 silver coin are also excellent when you can find them. Canada and Mexico are more available. Should be same as Silver Eagles or less. No significant collector value, at least in this country.

US (and older Canadian and Mexican) coin of silver alloy are decent investments, but I'd never pay a premium for rare dates/mints. Collector value is, as someone mentioned above, rather arbitrary.... and not certain to hold. A week ago, US silver coin would fetch eleven times face value when selling, and could be had for as little as twelve times, more often thirteen. More than that, they're dreaming. Junk silver (badly worn coin) hold the above values, generally, purely because of their weight and known alloy. Some folk ask outrageous prices for their silver coin, far above its true numismatic value. Pass on that stuff.

I'm not sure of the smaller increments, gram and ten gram pieces.....haven't investigated them, as I've little personal interest.

at this point, at least for the near future, I think its probably a good time to buy, as prices are (to me) unusually low, and appear stable. That could change in a week...... if I had a pile of money laying about, and had all the guns and ammo I want, I'd be putting it into silver, as outlined above. SO, what funds DO some available, I allocate proportionally to the three categories... AFTER the current necessities are handled.

 

[SONALB]

For those close to Corvallis, I can vouch for Michael at 'MJPM' that Jack gave a link to.
I have dealt with him many times over the years and always get a fair price (buying or selling). He is very honest and fun to visit with.

 

[Blackfeather7]

Well, I'm looking to get into this world of precious metals, and I want to start small, litterally. ampex.com appears to be good for 1oz+ pieces and purchases, but,
A: are there places in Oregon to buy it locally, walk-in-walk-out,
B: Are there better places to buy small amounts online, grams, oz's, etc. (no or low minimums?)
C: is eBay even worth trying, without paying nearly 3-times-or-more the worth on grams and nearly 150% to double on ounces?
(seriously, i've seen $3-4 end bids for 55 cents in silver. some people are kinda...silly.)
Note: the cheapest i've been able to get a gram (a single bar) on ebay for (so far) is $1.45 (that was with shipping.)

I have bought from APMEX for years and highly recommend them. Tell Mac radical Ben in Oregon sent you. However, their shipping prices have gone up in the last couple of years so you need to figure out the economics of each buy and compare to a local source. Michael's Jewelers in Corvallis has higher prices but depending on how much you have to spend at a time he can be competitive with APMEX if you factor in the shipping costs. Go to both sites, apmex.com and mjpm.com and compare the prices of what you want to buy divided by what you have to spend, add the apmex shipping costs and you have the comparison. With apmex it is most ecomonical to buy at the high end of their shipping price cut off amounts. Here are their shipping charges. You can buy as little as $50.00 worth but the shipping is $12.95. The 3% is if you use a credit card (or debit card) so pay with check or usps money order.

* $12.95 (USD) for orders of $50.00 - $249.99 (USD) (Plus 3% of subtotal) - (*See above for Available Discounts)
* $19.95 (USD) for orders of $250.00 - $999.99 (USD) (Plus 3% of subtotal)- (*See above for Available Discounts)
* $24.95 (USD) for orders of $1000.00 - $24999.99 (USD) (Plus 3% of subtotal) - (*See above for Available Discounts)
* Free for orders of $25,000 (USD) and over

For example if you buy $249.95 worth + $12.95 s/h = $262.90
Then see if You can get the same thing at Michael's (or other local dealers) for the same or less money without s/h.

By the way, silver and gold are in a big dip currently and this is a great time to buy. My motto for fifteen years has been, "Buy low; sell high and keep some for a rainy day," and it's worked out pretty well.

 

[fred c. dobbs]

I can not understand why anyone would pay for shipping when you can go to Alder Gold in Portland,( if your local ), talk to Mike, he is fair, honest, CCW as well.

he is located in the B of A building, 2nd street and Morrison Bridge.

it is just as Important to know your coin dealer as your gun dealer.

 

[SONALB]

^+1 Walk in, walk out, same day. Money local, etc.

 

[Randini]

Silver is taking a dip today maybe would be a good time to pick some more up. I just stick with the 1oz rounds. Also buy ETF shares SLV to buy and sell.

 

[Silver Fox]

Is there a silver dealer in the Puget Sound area that somebody would recommend?

I found one that seemed alright but I am into supporting those who are like minded.

SF-

 

[coctailer]

Is there a silver dealer in the Puget Sound area that somebody would recommend?

I found one that seemed alright but I am into supporting those who are like minded.

SF-

You should walk in and browse a few shops. Make sure you do it the same day so that the spot price will be reasonably close.

I checked the prices at the WAC gun shows, and they are charging way-over spot. Cheaper to pay shipping to online dealers at that point.