If you were going to buy $40k in silver, where would you find the best deal and what type would you

tander123

buy? My dad is 76 and is jus wanting a hedge if the crap hits the fan and is sitting in a bunch of cash. Thoughts?

CoinCrazyPA

Apmex, JMbullion, Provident metals are all realiable.

Barndog

I would buy the kind made of gold. If the crap hits the fan, no chance he plans on lugging around thousands of ounces, is there?

thefinn

Or mix it up with gold and silver. Silver is heavy and takes lots of space to store it. I would get some Canadian ML monster boxes (.9999 fine Ag) or ASEs (.999 fine Ag). They will be easier to sell and a better price, and are more recognized than other silver.

tander123

Assuming it’s not the crap hit the fan and you have to leave your house type of scenario

tander123

@thefinn said:
Or mix it up with gold and silver. Silver is heavy and takes lots of space to store it. I would get some Canadian ML monster boxes (.9999 fine Ag) or ASEs (.999 fine Ag). They will be easier to sell and a better price, and are more recognized than other silver.

Where is a good place to get a good deal on those?

oldstandard

That would be a very last resort if I was him, I am not sure were you live our bullion store is very fair and honest .50 cents with a maximum premium of $1 I would never purchase it all at once small purchase and do not hurry silver will stay at these levels and even lower next year. If you can not find a good bullion store with in a fair drive then last resort use the ones stated above and there are many others which I never have bought from and never will. I also fined silver a lot of the times at spot or near spot at a coin shows. at the last long Beach show a dealers was selling at .10c back of spot he was still making money he bought it $1.00 back of spot an had 10,000 oz. he was unloading at the show which he did and I guarantee he made more them the ones selling it for $2 over spot so be patient there is no hurry, Stay away from over price government Eagles if you are buying them in case crap hit the fan it will not matter how shiny your government Eagles are and at that point there will not be value in the over priced premium you paid to get them. Now if you are talking about the crap that will be coming down the road in 2023 that is already brewing overseas then Eagles are just fine so depends on the crap you are talking about even though it is all government brew causing crap.

MsMorrisine

Stay in cash.

blitzdude

90% junk typically has the lowest premiums. Kitco, Provident and Apmex are all currently selling $100 face bags at about 10.5x. Quite a few deals on 100oz bars as well but buyers are somewhat limited when you are ready to sell. Silver Eagles are extremely liquid (assuming you are in the US) but premiums seem awfully high at the moment. $8350 a monster box seems to be the going rate but your looking at a $2.60 premium per $14 ounce of silver. Too high for me.

Personally I'd split it up gold and silver. Gold Eagles, Maples, Krugerrands are always liquid. Premiums are currently lower than they have been in a decade.

OPA

Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

derryb

@OPA said:
Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

Inflation tends to reduce it to a "prince."

blitzdude

@OPA said:
Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

Yup cash will always be king. lol

davidk

@OPA said:
Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

Please share that wisdom with the folks down in Venezuela.

jmski52

Apmex, JM Bullion, Scotsman Coins, Kitco, Modern Coin Mart, and Silvertowne. Derryb likes DBS Coin as well.

Make sure to stick with the most recognized types of bullion - Eagles, Maples and/or pre-1965 US 90% silver coinage.

I personally don't keep silver "rounds" even though they can be had for a lower premium. The lower premium works both ways, and it may be harder to liquidate at a fair price someday down the road. That's just my personal viewpoint.

I would also keep a mix of gold & silver, rather than all silver. I would recommend keeping a healthy cash reserve as well.

I agree with others not to make one big purchase, but to split the purchases into maybe 3 separate purchases, and not all on the same day or week.

For ease of accounting & ease of tracking, buy in larger chunks so that you limit the number of bookkeeping entries.

PerryHall

Buy sealed monster boxes of ASE's.

ricko

Better mix up the metals... gold and silver.... and make it bullion, not proof... make it coins not rounds....Make sure, before the metals buy, that you have the other necessities covered. Cheers, RickO

MsMorrisine

the fan will not be hit anytime soon

BAJJERFAN

@derryb said:

@OPA said:
Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

Inflation tends to reduce it to a "prince."

But your PMS will still be valued/measured in terms of those "inflated" princes.

derryb

@BAJJERFAN said:

@derryb said:

@OPA said:
Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

Inflation tends to reduce it to a "prince."

But your PMS will still be valued/measured in terms of those "inflated" princes.

yes, PMs tend to protect your "princes" from inflation. Their primary purpose is protection from dollar devaluation (inflation).

derryb

@PerryHall said:
Buy sealed monster boxes of ASE's.

One can actually get the 25 tubes of 20 ASEs (monster box) cheaper by purchasing individual tubes on ebay when earning ebay bonus bucks (normally 8% or 10 % during the promo period). While the bullion category is not eligible for ebay bucks, sellers often list them in a different US coin category to expedite their sale. Doesn't cost the seller anything to do this, yet the buyer reaps the savings. Since there is a maximum $100 bonus buck limit per purchase the key to maximizing the bonus bucks savings is to not make individual purchases larger than $1000 (with 10% bonus) or $1250 (with 8% bonus). Often I will make more than one purchase of two or three tubes at a time from the same seller to maximize the bonus bucks.

The only advantage to the whole monster box in this case is that you have coins that you know came sealed directly from the US Mint. This is important to those who like to submit for grading. Otherwise a one ounce ASE is a one ounce ASE.

BAJJERFAN

@PerryHall said:
Buy sealed monster boxes of ASE's.

For $40K you should be able to buy at least 5 MBs and could probably go direct to an AP and get dealer pricing. I'd opt for 30 AGEs myself.

derryb

If I were investing in AGE's it would the $10 ones. Easier to resell when gold hits $5K.

BAJJERFAN

@derryb said:

@BAJJERFAN said:

@derryb said:

@OPA said:
Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

Inflation tends to reduce it to a "prince."

But your PMS will still be valued/measured in terms of those "inflated" princes.

yes, PMs tend to protect your "princes" from inflation. Their primary purpose is protection from dollar devaluation (inflation).

If an ounce of silver and a $20 bill are both worth $20 today and in 6 months inflation has reduced the $20 bill to $19 then the ounce of silver will also be worth only $19.

BAJJERFAN

@derryb said:

@PerryHall said:
Buy sealed monster boxes of ASE's.

One can actually get the 25 tubes of 20 ASEs (monster box) cheaper by purchasing individual tubes on ebay when earning ebay bonus bucks (normally 8% or 10 % during the promo period). While the bullion category is not eligible for ebay bucks, sellers often list them in a different US coin category to expedite their sale. Doesn't cost the seller anything to do this, yet the buyer reaps the savings. Since there is a maximum $100 bonus buck limit per purchase the key to maximizing the bonus bucks savings is to not make individual purchases larger than $1000 (with 10% bonus) or $1250 (with 8% bonus). Often I will make more than one purchase of two or three tubes at a time from the same seller to maximize the bonus bucks.

The only advantage to the whole monster box in this case is that you have coins that you know came sealed directly from the US Mint. This is important to those who like to submit for grading. Otherwise a one ounce ASE is a one ounce ASE.

Or the specials when certain bullion dealers sell MBs on eBay. Also the idea would be to buy in untraceable transactions if possible. Put WTB for cash ads on CraigsList and have a means to verify what you're buying.

MsMorrisine

@BAJJERFAN said:
Or the specials when certain bullion dealers sell MBs on eBay. Also the idea would be to buy in untraceable transactions if possible. Put WTB for cash ads on CraigsList and have a means to verify what you're buying.

and armed guards

MsMorrisine

https://forums.collectors.com/discussion/994625/united-states-mint-list-of-12-authorized-purchasers-for-bullion-coin-issues

derryb

@BAJJERFAN said:

If an ounce of silver and a $20 bill are both worth $20 today and in 6 months inflation has reduced the $20 bill to $19 then the ounce of silver will also be worth only $19.

The price of silver normally goes up with inflation, this is why it is protection. Think in terms of "how many dollars will my ounce of silver buy?" As those dollars decline in value you should be able to buy more of them.

Timbuk3

$40,000 !!!, at these prices, 25% 1/2 oz. AGE and 75% cash !!!

OPA

@davidk said:

@OPA said:
Unless a SHTF scenario is upon the human race( i/e Asteroid collision, Nuclear War, Yellowstone Super Volcano erupting etc ) ....Cash will always be King.

Please share that wisdom with the folks down in Venezuela.

It's the Yankee dollar that's king in Venezuela. If you own gold, from what I understand, the merchants do not want to bother with it, but will take good ole US greenbacks or Euro's. You can always sell your gold for whatever fiat currency that's in favor, but trying to buy groceries or gas with gold...it ain't gonna fly.

3stars

Bits of metal are just as worthless as bits of paper in a true SHTF situation. Why would I want your metal when I really need food, medicine, fuel, etc. The only thing I can do with metal is find the next person to con into thinking its worth something.

davidk

@3stars said:
Bits of metal are just as worthless as bits of paper in a true SHTF situation. Why would I want your metal when I really need food, medicine, fuel, etc. The only thing I can do with metal is find the next person to con into thinking its worth something.

Ummm, see Venezuela.

3stars

My definition of a true SHTF situation affects the global economy, not just a localized event. Should have been clearer in my post, as events in Venezuela do not affect me in the slightest. Venezuela could cease to exist and it would barely be a blip (maybe a slightly higher oil price at worst).

MsMorrisine

If he doesn't trust banks, put it into a credit union account

tander123

Thanks everyone for sharing your opinions. I'll let him read this thread and make a decision.

drei3ree

Please don't stack silver! Buy a CD and spend your time with family and friends rather than trying to manage all those coins.

asheland

If it was me, I'd do a monster box of silver eagles and the rest gold eagles. (probably a mix of different sizes) but shop around for some with a low premium if possible.

BAJJERFAN

@derryb said:

@BAJJERFAN said:

If an ounce of silver and a $20 bill are both worth $20 today and in 6 months inflation has reduced the $20 bill to $19 then the ounce of silver will also be worth only $19.

The price of silver normally goes up with inflation, this is why it is protection. Think in terms of "how many dollars will my ounce of silver buy?" As those dollars decline in value you should be able to buy more of them.

So does the price of Van Camp's pork and beans. Problem is that that $20 ounce of silver can easily go to $15 for reasons that have nothing to do with inflation. Except for the occasional sale, it's unlikely that that can of beans will be worth less than what you paid for it.

1630Boston

@BAJJERFAN said:

So does the price of Van Camp's pork and beans. Problem is that that $20 ounce of silver can easily go to $15 for reasons that have nothing to do with inflation. Except for the occasional sale, it's unlikely that that can of beans will be worth less than what you paid for it.

Now you are just making me hungry

derryb

@BAJJERFAN said:

@derryb said:

@BAJJERFAN said:

If an ounce of silver and a $20 bill are both worth $20 today and in 6 months inflation has reduced the $20 bill to $19 then the ounce of silver will also be worth only $19.

The price of silver normally goes up with inflation, this is why it is protection. Think in terms of "how many dollars will my ounce of silver buy?" As those dollars decline in value you should be able to buy more of them.

So does the price of Van Camp's pork and beans. Problem is that that $20 ounce of silver can easily go to $15 for reasons that have nothing to do with inflation. Except for the occasional sale, it's unlikely that that can of beans will be worth less than what you paid for it.

Inflation has shown us that we can protect ourselves from dollar devaluation by converting those dollars into one of many assets that grows with inflation. While some may choose beans, I prefer PMs and real estate. Of note is the fact than in extreme cases of inflation buying anything that you consume will be cheaper today than it will be tomorrow. So yes, there is a time when it wise to stack those beans.

BAJJERFAN

@1630Boston said:

@BAJJERFAN said:

So does the price of Van Camp's pork and beans. Problem is that that $20 ounce of silver can easily go to $15 for reasons that have nothing to do with inflation. Except for the occasional sale, it's unlikely that that can of beans will be worth less than what you paid for it.

Now you are just making me hungry

Not that there's anything wrong with that.