Where to Buy $250-500 of Silver Bullion CLOSE to Spot?

[astrostu]

I told myself a year or so ago that if silver ever dipped below $10/oz I would pick up somewhere in the neighborhood of 25-50 oz of 1-oz bullion rounds, like Canadian silver maples. The idea was to hold onto them for a few years and sell then at (hopefully) more than I would get in interest on my money market account, so >3-5%.

 

The problem is that I can't find them for close to spot in the quantities I'm looking for. For example, APMEX's cheapest 1-oz silver bullion is private minting of the Buffalo Nickel design for a little over $12/oz - 20% over spot. Their second-cheapest is the Australian koalas for a little over $16/oz, which is over 60% over current spot. On the other hand, places like MONEX will only sell in quantities of 100 oz or more, and they don't list their current prices on their website, but over $1000 is more than I'm looking to invest at the moment.

 

To answer a few questions you may ask: I'm interested in 1 oz rounds, possibly 2 or 5 oz, but not things like 10 oz or 100 oz bars. I also want something that's actually put out my a national mint, not something that's done privately, partly because it helps in resale but also I like the designs more. I am also interested in physical possession of the silver as opposed to some certificate saying I have a claim on x-number of bars that're held in some warehouse (like some of the stuff Kitco sells). I'm also not interested in "junk silver" US coins because I'm much more likely to keep some of it for a collection as opposed to use it as an actual investment, the purpose of this exercise.

 

Any ideas? Am I overlooking something?

[Schatzy]

I buy most of my silver at the pawn store for .50 over spot.

[zrlevin]

Good luck to you.

[Bruceswar]

You are going to have a hard time finding silver at that price right, but good luck

[michael]

Where to Buy $250-500 of Silver Bullion CLOSE to Spot?

 

 

answer ---- fantasy land/in your dreams

[James_OldeTowne]

"Spot" is out of whack right now, especially for gold. If you find it for a small premium, it's because of plain old good luck. I know of a dealer that sold one-ounce gold bullion coins and got one hundred dollars over spot EACH! Silver is experiencing something analogous right now.

 

Here's a conversation I had several times at the show:

 

Got any junk gold??

"no"

junk silver?

"no"

!@#$

 

[RI AL]

uscoins.com advertises an offer to sell 5 krugerrands at spot for new customers.