Noob Silver question

[RedRockGirl]

So if a complete Noob wanted to buy a few hundred dollars of silver, what recommendations would you give?
Coins? Bars?
How do I know what is fair and not get taken advantage of?
Thanks!
Red

[Kurr]

For coin pricing based soley on the metal value of the coin, try: Coinflation.com

For other types of bullion premiums flucuate based on manufacturer, and size mainly. The bigger bar you buy, typically, the smaller the premium.

I'm sure others will chime in here as well.

[highroller4321]

Buy what you feel comfortable with. I personally like .999 bars more then 90% coins, but there are many on here that have the opposite opinion.

.999 fine stuff there are a few choices.

Premium (meaning it costs a good amount of spot). There are normally government issued rounds such as American silver eagles, Canadian maple leaves, Mexican libertads, ect ect ect. These cost more but you can normally get the premium back when you sell. Some like these because they are easily recoginized. I like them but you get more silver for your money buying other stuff.

Name Brand. Engelhard and JM are the 2 big ones. Credit and Pamp Suisse are ok too. This is what I prefer to buy. Well known and most people like them.

Generic. Sunshine, apmex, heraeus, ect . These are basically any round/bar that is mass produced by a company. You can normally get them pretty "cheap" but most of the time when you sell they go for at spot or a little under. You can get the most bang for your buck here.

"Off" Brand. This is pretty much anything that is marked .999 fine silver. This can be an xmas round, round with random stuff on it, ect. These are ok but be sure its marked .999 fine silver! I personally would stay away from most of these.

90%. You use the formula .715 X Spot to get the value per $1 face value silver. For example. Silver at $30 you take .715 x $30=$21.45. This means every $1 face value of 90% you have is worth $21.45. Divide by 4 and each quarter is worth $5.36. If you can buy somewhere around this then you are getting a decent deal. Spot or under is good.

This all is just my opinion on things so factor is your own thoughts as well as others!

[rawteam1]

So if a complete Noob wanted to buy a few hundred dollars of silver, what recommendations would you give?
Coins? Bars?
How do I know what is fair and not get taken advantage of?
Thanks!
Red

90% half dollars...

good explanation by highroller...

i'll add... use multiplier to face dollar amount... so $30 spot x .715 is 21.45 x $10,
u look to buy around $214.50

[joemac]

Buy 90% 1964 and earlier US half dollars, quarters, or dimes also referred to as junk silver. Other countries have versions of junk silver too and can sometimes be had for a discount. You can also buy 1 oz coins, also referred to as rounds or bullion. The Buffaloes that are a private (not US gov) mint are popular and well recognized. The US Mint version of these 1 oz coins are American Silver Eagles.

I'd stick with US minted junk and ASE's for now. Get some of that and continue learning the stacking process. You will find what you like and don't. When you do get more of that.

As for value coinflation.com is popular for junk silver prices. I like the Kitco silver charts page for spot silver price.

[shinnosuke]

If you don't want to get taken advantage of, buy stuff here.

[joemac]

Another recommendation; when you buy it take delivery of it. If you get to the point that you have ALOT or want to hold some in another country those are different advanced stacking methods.

If you don't hold it you don't own it.

When you buy things like ASE's or 90% US silver dollars there will be a small premium above spot price. Shop this premium as it is all over the board.

I would not recommend buying numismatic coins, or collectible coins. Ones that are graded can command a super high premium. Some believe that these premiums always go to zero. Stick with the stuff selling for at or near the spot price of silver and you will be fine.

[frugalcanuck]

Ill second the buy here philosophy. I dont find better deals than what I find on here. Every local dealer where I live has higher prices than what I find on here.

[Mossy]

This place has the best deals I've found. I wish I had purchased the bulk of my PM here instead of elsewhere.

[Engineer]

If you want some "fun" stuff, SilverAddict is making some neat poured bars. I really like the arrow heads.
Edit: Rodebaugh and Kurr make nice stuff too.

[joemac]

If you want some "fun" stuff, SilverAddict is making some neat poured bars. I really like the arrow heads.

Neat yes, I would not recommend them to someone who is just starting out though.

[Engineer]

Neat yes, I would not recommend them to someone who is just starting out though.

True enough. For a noob, it's hard to go wrong with a roll of dimes at melt.

[68Camaro]

Neat yes, I would not recommend them to someone who is just starting out though.

True enough. For a noob, it's hard to go wrong with a roll of dimes at melt.

+1 I second this. And dimes are $5 face per roll instead of $10 so half the cost.

Good advice all above. Buy here (at least until you get smart enough to know a deal when you see it)

[RedRockGirl]

You guys are amazingly awesome and helpful. Thanks!
I'v been reading about "slicks" or the junk silver that weighs less. How do you deal with that?
I started looking at buying here and plan to...it was all just a little confusing. This is helping.

P.S. Those arrowheads are great. That might be a gift idea for my dad... the guy who has everything.

[highroller4321]

You guys are amazingly awesome and helpful. Thanks!
I'v been reading about "slicks" or the junk silver that weighs less. How do you deal with that?
I started looking at buying here and plan to...it was all just a little confusing. This is helping.

P.S. Those arrowheads are great. That might be a gift idea for my dad... the guy who has everything.

Yes, the arrowheads are neat and cool but they fall into the "odd" category. SA does great work but you get them outside of realcent or BS their purity will most likely be questioned because they come from an unknown orgin. We all "know" SA and trust him for the most part so we know they are .999. An outsider though has no idea doc even exists though or what they heck a Rodebaugh is. They will sell all day long on here or BS though.

When buying 90% you can request no slicks...most dealers and people pull the slicks out anyway and sell them seperate.

[chris6084]

Buy what you feel comfortable with. I personally like .999 bars more then 90% coins, but there are many on here that have the opposite opinion.

.999 fine stuff there are a few choices.

Premium (meaning it costs a good amount of spot). There are normally government issued rounds such as American silver eagles, Canadian maple leaves, Mexican libertads, ect ect ect. These cost more but you can normally get the premium back when you sell. Some like these because they are easily recoginized. I like them but you get more silver for your money buying other stuff.

Name Brand. Engelhard and JM are the 2 big ones. Credit and Pamp Suisse are ok too. This is what I prefer to buy. Well known and most people like them.

Generic. Sunshine, apmex, heraeus, ect . These are basically any round/bar that is mass produced by a company. You can normally get them pretty "cheap" but most of the time when you sell they go for at spot or a little under. You can get the most bang for your buck here.

"Off" Brand. This is pretty much anything that is marked .999 fine silver. This can be an xmas round, round with random stuff on it, ect. These are ok but be sure its marked .999 fine silver! I personally would stay away from most of these.

90%. You use the formula .715 X Spot to get the value per $1 face value silver. For example. Silver at $30 you take .715 x $30=$21.45. This means every $1 face value of 90% you have is worth $21.45. Divide by 4 and each quarter is worth $5.36. If you can buy somewhere around this then you are getting a decent deal. Spot or under is good.

This all is just my opinion on things so factor is your own thoughts as well as others!

No mention of Rodebaugh bars?

[highroller4321]

Buy what you feel comfortable with. I personally like .999 bars more then 90% coins, but there are many on here that have the opposite opinion.

.999 fine stuff there are a few choices.

Premium (meaning it costs a good amount of spot). There are normally government issued rounds such as American silver eagles, Canadian maple leaves, Mexican libertads, ect ect ect. These cost more but you can normally get the premium back when you sell. Some like these because they are easily recoginized. I like them but you get more silver for your money buying other stuff.

Name Brand. Engelhard and JM are the 2 big ones. Credit and Pamp Suisse are ok too. This is what I prefer to buy. Well known and most people like them.

Generic. Sunshine, apmex, heraeus, ect . These are basically any round/bar that is mass produced by a company. You can normally get them pretty "cheap" but most of the time when you sell they go for at spot or a little under. You can get the most bang for your buck here.

"Off" Brand. This is pretty much anything that is marked .999 fine silver. This can be an xmas round, round with random stuff on it, ect. These are ok but be sure its marked .999 fine silver! I personally would stay away from most of these.

90%. You use the formula .715 X Spot to get the value per $1 face value silver. For example. Silver at $30 you take .715 x $30=$21.45. This means every $1 face value of 90% you have is worth $21.45. Divide by 4 and each quarter is worth $5.36. If you can buy somewhere around this then you are getting a decent deal. Spot or under is good.

This all is just my opinion on things so factor is your own thoughts as well as others!

No mention of Rodebaugh bars?

They fall in the "off" category as well. They are sweet little bars but you get them outside of realcent or BS their purity will most likely be questioned because they come from an unknown orgin. We all "know" doc and trust him for the most part so we know they are .999. An outsider though has no idea doc even exists though or what they heck a Rodebaugh is. They will sell all day long on here or BS though.

[chris6084]

Buy what you feel comfortable with. I personally like .999 bars more then 90% coins, but there are many on here that have the opposite opinion.

.999 fine stuff there are a few choices.

Premium (meaning it costs a good amount of spot). There are normally government issued rounds such as American silver eagles, Canadian maple leaves, Mexican libertads, ect ect ect. These cost more but you can normally get the premium back when you sell. Some like these because they are easily recoginized. I like them but you get more silver for your money buying other stuff.

Name Brand. Engelhard and JM are the 2 big ones. Credit and Pamp Suisse are ok too. This is what I prefer to buy. Well known and most people like them.

Generic. Sunshine, apmex, heraeus, ect . These are basically any round/bar that is mass produced by a company. You can normally get them pretty "cheap" but most of the time when you sell they go for at spot or a little under. You can get the most bang for your buck here.

"Off" Brand. This is pretty much anything that is marked .999 fine silver. This can be an xmas round, round with random stuff on it, ect. These are ok but be sure its marked .999 fine silver! I personally would stay away from most of these.

90%. You use the formula .715 X Spot to get the value per $1 face value silver. For example. Silver at $30 you take .715 x $30=$21.45. This means every $1 face value of 90% you have is worth $21.45. Divide by 4 and each quarter is worth $5.36. If you can buy somewhere around this then you are getting a decent deal. Spot or under is good.

This all is just my opinion on things so factor is your own thoughts as well as others!

No mention of Rodebaugh bars?

They fall in the "off" category as well. They are sweet little bars but you get them outside of realcent or BS their purity will most likely be questioned because they come from an unknown orgin. We all "know" doc and trust him for the most part so we know they are .999. An outsider though has no idea doc even exists though or what they heck a Rodebaugh is. They will sell all day long on here or BS though.

There is a small market on feebay. I've sold a few there, and two of them went overseas.

[Engineer]

One thing to consider on buying above or below spot:

During dips in the market, it is common to see coins priced a little above spot. When silver prices are high, you'll see people selling below spot. Sometimes it's better to pay 50 cents above spot (like today when silver is at $29.75) than fifty cents under spot when silver is $35/oz.

In other words, pay what you need to when deals are scarce, and be cautious when you see everyone else selling.

[Silver Addict]

An outsider though has no idea doc even exists though or what they heck a Rodebaugh is. They will sell all day long on here or BS though.

Even Michael Dell started out in his garage, i still hold out hope for Rodebaugh to go mainstream

[rawteam1]

good eye big E for that right now...
also morgan & peace premies r thru the roof, pretty amazing really...

[Bham]

Over the past year and a half I've gone through a process of educating myself in this world of PMs. I've learned quite a bit, and my education went from a 6th grade level to a high school graduate. I consider myself now in undergraduate school somewhere along my freshman year. I consider many, many of the members here and at BS college graduates. Another large sum of masters level individuals, and a few PhD's. This self education started just reading about the economy on the Internet and simple mainstream media (most of these aren't journalists, but writers promoting their agendas). This eventually brought me to RC and BS. Then the real education started!

I started buying at the LCS but soon realized that their premiums and tax rates made me look for better deals. I found some large online vendors, they had decent prices, but when you add shipping and wire fees I got back to square one. The biggest obstacle i had was that i wanted to buy every week or two as i accumulated FRN's, but my buys were typically too small to justify these adquisition costs. Then somehow I stumbled upon these two websites full of professors and like minded people. I started buying at the KSA's and when I got my first package within a week at a great price I was sold. The rest is history and the threads here cover just about every topic imaginable. So this is a quick recap of some lessons I learned my first year, maybe they will help:

* Buy 90% in person or here. The big vendor that starts with a G and resides in a panhandle state once sent me a bunch of slicks.
* Government minted are great, but start slow and as stated a couple of posts up, stay away from numis and graded stuff until you have a little more experience. This was solid advice.
* Early on I bought a bunch of overpriced coins and developed FCS from LCS and big vendors. I found these forums (RC n BS) and could kick myself in the arse for letting myself get ripped off. These forums taught me so much.
* The level of integrity found here cannot be replicated elsewhere. Why? Because of like minded people!

Cheers!

Bham

[Hawkeye]

I agree that the best deals can usually be found here. If you're looking to buy small amounts (like I usually am), I like Provident Metals. They have reasonable pricing, a decent selection, no minimum orders and comparatively reasonable shipping. But I would definitely check here first, especially for 90% US coins.

[IdahoCopper]

Since spot dropped below $30 yesterday, I put my ad up again on the local craigslist. I offer 90% of spot:

>>>>>>>
Looking to buy 1964 and older silver coins.
Will pay CASH today.
I am interested in small quantities, as well as larger quantities, even just 1 to 5 coins are OK. Please call xxx-xxxx.

$1.95 - for 1964 and older dimes
$4.85 - for 1964 and older quarters
$9.75 - for 1964 and older half dollars

$20.80 - for 1964 and older Silver Dollars
$26.90 - for silver bullion rounds or bars; marked ".999 fine" or "one troy ounce".

[CLINT-THE-GREAT]

Since spot dropped below $30 yesterday, I put my ad up again on the local craigslist. I offer 90% of spot:

>>>>>>>
Looking to buy 1964 and older silver coins.
Will pay CASH today.
I am interested in small quantities, as well as larger quantities, even just 1 to 5 coins are OK. Please call xxx-xxxx.

$1.95 - for 1964 and older dimes
$4.85 - for 1964 and older quarters
$9.75 - for 1964 and older half dollars

$20.80 - for 1964 and older Silver Dollars
$26.90 - for silver bullion rounds or bars; marked ".999 fine" or "one troy ounce".

That looks eerily similar to my CL ad....but all i really ever get is people emailing me that AG is way higher than my prices and that I am just ripping people off rarely ever get any customers

-The Great