Where do you buy your gold and silver from?

Chris

Chris

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Where do you guys buy your gold and silver from? I'm new to investing in them both, so I'm looking for a good, reputable source.
 
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Chris said:
I see one of these coins is $28.90:

https://www.apmex.com/product/196100/2020-1-oz-american-silver-eagle-bu
However, I noticed silver is currently at $24.37.

I'm assuming the coin is more expensive because they've made it into coin form, yes?

Also, this place seems to have better prices:

https://www.jmbullion.com/2020-1-oz-american-silver-eagle-coin/
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Yes, you'll pay more for silver eagles because they're collectible.
However, if you go to a coin shop they should have some non-collectible coins (or other items) that they would sell for the going rate.
 
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Chris said:
I am looking to buy physical gold and silver in this case.
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They track the same thing. You're pretty much throwing away money by buying physical since the market isn't as liquid as the massive ETF's that track the same thing. You also have to store and insure the gold you buy.
 
jodomcfrodo said:
They track the same thing. You're pretty much throwing away money by buying physical since the market isn't as liquid as the massive ETF's that track the same thing. You also have to store and insure the gold you buy.
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But if the entire economy collapsed, how could I get the physical silver and gold from the stocks?

I am talking about a total collapse of society and having something physical to barter with. Not that that will ever happen, but you know.
 
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Chris said:
But if the entire economy collapsed, how could I get the physical silver and gold from the stocks?

I am talking about a total collapse of society and having something physical to barter with. Not that that will ever happen, but you know.
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If you're looking for a hedge against the complete collapse of society, then get physical I guess. If you're looking for an investment, just buy GLD and SLV.

You building a bunker over there as well with 10 years of food and water?
 
What it might allow you to do is keep your house. During the depression, banks closed and people couldn't access their money. Then they foreclosed on people's homes and farms for failure to make mortgage payments and pay taxes.

That's why bank robbers were so successful in that era. Everyone hid them or looked the other way, as they frequently burned mortgages before taking the money.
 
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Provident metals is a good place. Although I don’t think now is the best time to buy gold. I just sold 4 ounces that a got a few years ago for 1,300 a ounce made 2,400 in tax free profit. I think it will go back down quite a bit soon. But you never know. Usually when the stock market is up gold is down and Vice versa. So who knows.
 
chad said:
Provident metals is a good place. Although I don’t think now is the best time to buy gold. I just sold 4 ounces that a got a few years ago for 1,300 a ounce made 2,400 in tax free profit. I think it will go back down quite a bit soon. But you never know. Usually when the stock market is up gold is down and Vice versa. So who knows.
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I’ve used them also, gtg.

If Biden gets in expect stocks to go down.
 
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LONGJP2 said:
Yes, you'll pay more for silver eagles because they're collectible.
However, if you go to a coin shop they should have some non-collectible coins (or other items) that they would sell for the going rate.
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Yes and no. SAE are considered bullion coins and they carry a premium (price over spot). When you check out any seller offering a sale, it is always on the amount of the premium. Typically the premium on a SAE runs from sub 1 dollar to average of about 2.40-2.50.

I prefer most anything in bullion from the US Mint due to easily verifiable and well known provenance. The silver bars, rounds, novelty stuff like bullets while cute are not as easy for the average Joe to recognize as silver, gold, platinum, etc.

Gold is tough because it has high value per ounce and its hard to trade farmer John out of a couple of chickens with a 1 ounce eagle. That means there has to be a way to break it up and that is going to suck.
 
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mrblaine said:
Yes and no. SAE are considered bullion coins and they carry a premium (price over spot). When you check out any seller offering a sale, it is always on the amount of the premium. Typically the premium on a SAE runs from sub 1 dollar to average of about 2.40-2.50.

I prefer most anything in bullion from the US Mint due to easily verifiable and well known provenance. The silver bars, rounds, novelty stuff like bullets while cute are not as easy for the average Joe to recognize as silver, gold, platinum, etc.

Gold is tough because it has high value per ounce and its hard to trade farmer John out of a couple of chickens with a 1 ounce eagle. That means there has to be a way to break it up and that is going to suck.
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Yep. And I’d rather trade common goods and services to make it easier.


Coming up with another currency. No thanks. I get the whole invest in precious metals. Now is not the time to start nor is it a great basis.
 
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