Want to know about the truth with silver and gold? I once pushed silver really damn hard. I loved to buy lots of 90% junk silver for close to spot price. I loved the idea of buying decorative silver rounds and random rare rounds of small mints. Today, I went out to go see what my local coin shops/bullion stores/jewelry shops would buy it for just for fun. I went out to shops that opened at 9 AM all the way to 1:30. Want to know what all these shops tell me once I asked them what they would give me for my silver? "Sorry man, I got thousands upon thousands of rounds of silver. I don't need anymore". "Junk silver? Sure I'll give you $11 per ounce in that stuff." "Silver? Well all I buy is silver eagles. Everything else I'll do $3 under spot for each ounce." The last shop I went to told me "Hah, welcome welcome! Hey, the economy is very wobbly, be sure to stack some silver because we got lots of it! It's what I invest in!" I asked the man, "got any gold?" He said "gold!? Not really, that stuff flies off the shelves and you really don't want to buy any of that. It's overpriced. Take a look at some of these silver bars over here. They are killer cheap."
My consensus? Silver is highly abundant, not anywhere close as loved as gold, and when it comes time to sell your silver, good fucking luck getting a decent price for it. I then asked what people would buy for my gold. Their reaction? "oh yes bring it on in, we will check it out and give you the best price for it!"
Silver is beyond abundant. It is shilled more than it should be. It is a product of mining gold and just won't ever get the respect gold has.
TL;DR? If you are going to buy silver, stick with silver eagles. Anything else, don't buy anything else but gold if you are interested in PMs. It's a fucking joke to sell your silver and you will get lowballed hard. I tested 9 shops in Dallas Texas today, and unless silver somehow skyrockets, good luck. There is much of it out there, and not worth your hard earned money.
Ian Walker
>If you are going to buy silver, stick with silver eagles The best advice you will hear all day.
Michael Cox
I learned the hard way but I hope anons see this. I don't want anyone else getting burned. Nobody gives a shit about silver if it isn't Silver Eagles. TAKE THAT TO THE BANK. It's the only decent silver investment.
Adrian Carter
Correct. And there are a lot of reasons for that... > Silver eagles have the US govt's promise of purity > eagles have numismatic value, so their value rises above just the metal value > rounds could be silver, they could be something else, why bother?
Yup, I bought a 1/4 round of gold today. I don't think I'll ever buy silver again.
Carson Turner
Glad I heard this before I got too serious into junk and bars. Was really looking into Monarch bars. First thing I bought was an ASE monster box and I've got about 300oz of junk/morgans/peacedollars/rounds/canadians. So I might be fucked there.
Might do one more monster if price goes back to $14, but till then it's just gold.
Hudson Rogers
But the same problems happen with gold. Given a choice between a "round" issued by who knows who, of who knows what quality, and whose weight is verified by who knows who, people will prefer to see a gold eagle, which takes much of the guesswork out of it.
Chase Davis
>i try to sell my PM's to the largest holder of PM's who is looking to make profit >i dont get offered spot you ever heard of selling ice to an eskimo? if your selling PM's you sell to a refinary to get closest to spot, if your selling numismatic value pieces then you sell to dealers and pay the convenience fee (lost profit) or you open up your own shop and sit in it all day to get that one guy who is willing to buy 10% above what you paid for something.
use your brain
>buying numismatic bullion of an industrial driven value metal they are good looking coins and always in demand, i have a few. but for investments you'd be better off with morgans or secondary market rounds.
