View Single Post
Old 12-19-2012, 9:17 PM
Gabriel80's Avatar
Gabriel80 Gabriel80 is offline
Join Date: Jun 2011
Location: Los Angeles
Posts: 439
iTrader: 8 / 100%

I'm new to buying silver too. I did have to spend over $1500 to avoid the sales tax, and that was fine, I can pawn off $500 at cost to a buddy if I want.

I've hunted on eBay and found the same conclusion, auctions end at not much of a deal.

I've researched online and the best I found before this thread was KitcoSilver which sells all precious metals at very slightly above spot. However they have a $2500 minimum and then I have to pay shipping with insurance and do a bank wire transfer.

The local store I found, which is a reputable coin store, nothing shady, sold me pure silver Troy ounce coins at $33.9 / each. It's a little high I felt, but I also had the money on hand and am honestly a tad impatient to keep digging around.

I never thought about the idea that I was buying counterfeit, from what I've read most 1oz and 10oz coins aren't worth the time to fake. The bars of 100oz an over can often be filled with junk metal inside and surrounded by silver, they must be drilled to prove real.

The store did offer US Mint silver eagles but at $2 more per coin I didn't think it made a difference. I'm not really second guessing my purchase, I'm happy to have some silver in the house now. If it never offers me a huge return (it wasn't really a HUGE investment to begin with) I will at least feel confident I own something I could barter with in a SHTF scenario, or be able to immediately liquidate in an emergency.
none of us are as strong as all of us

Last edited by Gabriel80; 12-19-2012 at 9:20 PM..
Reply With Quote