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I have been acquiring my silver coins over the years at face value, simply by luck of the draw- finding them in boxes of dimes, quarters, and halves..

I am ready to "step up to the plate" and start buying my silver, for the silver value.

I have the opportunity to buy silver bars, from a buddy of mine (jewler) for about $0.25 over spot..

Would you reccommend I acquire my silver this way, or go to a coin store/website.

(I guess I have always been leery of the coin shops charging a premium for the coins based on the numismatic value of the coin, which inherently I find very subjective, and don't want to be "taken")

Also, does it matter what types of silver bars I get? Some of the ones he has presented to me were from Swiss Bank, while others were pictures of Santa Claus or trains.

Thanks for all of your input.

Name brand bars usually have a premium associated with them versus the generics. I think if you start buying, with due time, you will figure out what you like. I like to try and go for name brand bars but usually pay 2 dollars an oz over spot at the local coin shop. I have bought a mark, silvertowne, engelhard, bars for this price. Some people prefer to buy foreign silver or 40% halves which usually sell below spot. You are getting silver just in an impure and less recognizable form (more directed to foreign silver at least here in the US). Try and buy for bullion value and dont get sold on numismatics unless you are looking to go down that path (which it sounds like your not). Let us know if you end up buying some stuff from him

As long as they are marked with .999 silver, the Christmas and bank issued bars for 25 cents over spot is a good deal. Right now spot is pretty crazy but so is the worldwide political economy. Good luck trying to find other folks willing to sell .999 silver for only 25 cents over spot.

for 0.25 over buy as much as you can

Yeah. What he said (Jasmatk)

You should PM me with your buddy's phone number! Heck, I'll even go .26 over spot!

I would buy at 25¢ over spot if given the chance but along with buying from your friend it might not hurt for you to develop a relationship with a reputable, credible coin shop. After a few buys and some shop talk you'll probably have buy/trade opportunities that your jeweler friend won't be able give you.

DF

I never thought about trading the silver bars for other coins, etc.

Thanks

On eBay premiums on branded bars e.g Johnson Matthey are as high as 90% over fix. Even non-branded stuff is reaching 40-50%

Even if you move on the less desireable stuff, it looks like a fantastic deal.

Buy at that small premium You can spend more driving around . That said I did a buy of 90% under spot at a Rock Show this weekend, Got Bright AU 64 Kennedy's and Dimes and a 1921 S Morgan. bought a lot less rocks