Buying Silver Rounds and Bullion

[samsammy23-migration]

Hello,

This is my first post regarding coins, I'm more of a card guy. Where can I buy generic silver rounds the cheapest? I am looking for a website or business that I can buy 10 or 50 to 100 at a time. I've tried ebay and end up paying over $6 each with shipping. I've also seen them for .70 over spot price at: http://www.nwtmintbullion.com/SilverBullion.htm. Is this the cheapest that I can get them for or can I get them closer to spot?

Thanks.

Chad.

[LucyBop]

hmm....

 

I know where you can get some Silver Brittianias......

 

but, they are not that cheap......

 

but they are very pretty!

[RobertB]

Chad,

I was in your boat about six monthes ago. I was looking for some bullion in 1, 5, and 10 ounce pieces for tangible investment and security. I researched like a madman and looked everywhere, ebay as well. I came to learn that if silver closes today at 4.50 an oz., I will not get it for like, less than about 5.50 an oz.? Silver never seems to sell at bullion closing prices. Why, I don't know? Therefore I buy 10 oz. bars when I get a good deal as I know the larger the bar the lower the mark up. The one good thing is that you too will probably get that same mark up when you sell. I know this doesn't answer your source question, but, I hope it'll make you feel more understanding of the silver bullion market.

 

You may want to look into coins. There are numerous silver issues from the U.S. alone, thousands of choices. Also, the market looks like it's on fire and will be for quite some time. I invite you to take a look. I was into cards once, about the late eighties and I know that the key rookies and such I bought ain't worth a spit now compared to what I paid. Coins aren't guaranteed, but they are tangible, especially those of silver and gold content. Cards are paper (not to put your hobby down, because cards were fun for me). If you catch the fever many, many people will be willing here to teach you things and help you out.

Good luck in your hunt.

Rob

[JakeBlues2-migration]

I've done business with CheaperGold.com and California Numismatics (http://www.golddealer.com). Both have good prices on Silver Bullion. I am looking into doing business with Tulving who has incredibly small markups over spot. The only problem with Tulving is that they are a wholeseller so you will have to purchase a few thousand dollars worth of silver at a time from them.

 

Overall, I was pretty happy with CheaperGold.com. I own Silver Eagles, 10 oz bars, and 100 oz bars. Each has its advantage. Silver Eagles have larger premiums, which of course will disappear if and when we hit a silver bull market. 100 oz bars are the most convenient and least liquid way of owning silver. But there is something about a 100 oz bar that I can't resist.

 

If you have more questions on Gold or Silver bullion, e-mail me. Coin guys generally don't seem to like discussing bullion that much. It's a hedge against inflation, not a real investment, but you'll probably never lost your shirt in metals as you can if you shell out thousands for that >MS65 double eagle which will never appreciate in value like their "graphs" show.

[samsammy23-migration]

Thanks for the responses. CheaperGold.com did come in cheaper by about .05-.10 an ounce with shipping.

Thanks.

Chad.

[gmarguli]

Talk to your local coin dealers. Many will sell silver at a few cents over spot. I know one of my local dealers sells rounds at $.35 over spot and if you were to buy a lot of them he'd go cheaper.

 

Now, why do you want to buy silver? If it as an investment based on the spot price of silver, go for a big bar or maybe not even take delivery of the bar, just let it sit at a wherehouse.

 

I've seen a 1,000 ounce bar and it was priced a couple of cents above spot. You should be able to get some 100 ounce bars really cheap.

 

If you commit to an order and pay the dealer right then, many will order you a bar. Obviously only do this with trustworthy dealers. They don't have to worry about changing prices and will be willing to make very little on it.

 

If you want the silver in case the paper money is devalued, then go for silver coins. You can get "junk bags" which is basically circulated silver coins for a modest premium over spot.