Silver?
WrigleyCub
Posts: 291
Can someone tell me a great company where I can purchase silver at the lowest price? Should I purchase bars or coins? Which form of silver is the best to ease back into the market if need be?
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Comments
Yogi Berra
What he said. Regardless of the form of silver that you buy, you will have to go through a dealer in order to ease back into cash.
For larger quantities, Tulving is sometimes lower. CNI (California Numismatic Investments) is another to consider. I do not like Northwest Territorial Mint - never again. They held a large order of mine for over a month, saying that they were trying to fulfill it, after I wired them cash on the same day of my order. It didn't feel good being used so that they could play the float.
Let's talk about premiums and transaction costs. You are well-advised in always shopping around a little bit before you order. In an active market like now, both premiums and transaction costs seem to rise. A low premium isn't necessarily a good thing and a high premium isn't necessarily a bad thing. I view premiums as a small indication of liquidity, although most forms of silver are pretty liquid in this kind of market where demand is fairly consistant. Sometimes, you make money if you bought when premiums were low, and other times you will lose money on the premium. It cuts both ways, and there is really not much you can do to mitigate that variable.
Transaction costs tend to rise whenever dealers can demand a wider spread between buy & sell (like now). I like to buy in larger quantities for 2 reasons - for one thing, the spreads are usually smaller when silver is bought in larger chunks, and also the tax accounting is easier when you buy a larger chunk that is all at a single price. That way, even if you sell it piecemeal sometime in the future, you are working off a "standard cost" instead of a bunch of disparate (and annoying) separate costs for each little chunk.
There are good justifications for 1 oz. chunks, 10 oz. chunks and 100 oz. chunks. They each have their place, depending on what the rest of your holdings look like. 1 ozers have more utility if you ever need it that way, and 100 ozers are kinda like 100 shares of a stock that you will have to sell as a block. No different, really.
I knew it would happen.
<< <i>Kitco and Apmex come to mind also the BST board sells silver at good prices. I like 90% coins and ASE 1 ounce coins but many prefer bars because of there lower cost per ounce. >>
I would add Scottsdale to the above list. Easy to deal with and I like the stackable bars. In addition, they appear to be one of the more favorable bars on eBay.
Every one wants a deal when buying .... of course.
Every one wants first shot at what ever comes into the B&M ....... of course.
So why should your local B&M give you the best price or first shot at NEWPS
if you make your purchases from the online sellers?
So your local dealer is a bit higher ..... a relationship is a 2 way street.
Now ..... that said ..... I am NOT saying .... pay what ever a rip dealer askes!!
Buttttttt ....... going else where over .10 to .50 cents on less than 100oz. .....
......... and then expecting "Top Dollar" from him when selling ..........
IF your local dealer is basicaly fair .......... SUPPORT HIM.
Most good small dealers have a hard enough time staying open ....
let alone fighting the big online sellers.
Keep on Stack'n!!
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Silver is the mortar that binds the bricks of loyalty.
Tulving
If you are an ebayer and are signed up for bing cashback, that will be the cheapest place to buy silver until cashback ends July 30.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>AAhhhemmmm....
Every one wants a deal when buying .... of course.
Every one wants first shot at what ever comes into the B&M ....... of course.
So why should your local B&M give you the best price or first shot at NEWPS
if you make your purchases from the online sellers?
So your local dealer is a bit higher ..... a relationship is a 2 way street.
Now ..... that said ..... I am NOT saying .... pay what ever a rip dealer askes!!
Buttttttt ....... going else where over .10 to .50 cents on less than 100oz. .....
......... and then expecting "Top Dollar" from him when selling ..........
IF your local dealer is basicaly fair .......... SUPPORT HIM.
Most good small dealers have a hard enough time staying open ....
let alone fighting the big online sellers.
Keep on Stack'n!! >>
I am a big fan of buying locally at my local dealers. I also like buying at major coin shows. Even though just about all of my purchases are silver art bars, I see that premiums on other types of silver are not too bad.