[Sammy]

I want to learn about the best way to buy physical gold and silver coins, what terms like "spot", "troy ounce" mean and so on. Even going further, what silver dollars or more valuable compared to others and so on.

Can anyone point me in the right direction?

(I've done a Google search, but I trust you guys more than the top results on Google.)

[DanDeLaCruz]

Hey,

I've been buying silver and gold for over three years. Here's the answer to your questions.

SPOT price is the agreed current price in the market between sellers and buyers. It's the price that silver will be worth at any current time. Sometimes the price goes down but over the past couple years, it's mostly gone up. A good resource of the current spot price is kitco.com. The spot price is based on the value of one troy once of silver.

A troy ounce is basically this (1 troy ounce = 31.1034768 grams). What you're getting is 31 grams of silver. Basically it's just one ounce. What you wanna buy is one ounce silver rounds, which are one ounce silver coins.

The current spot price is the price for one ounce, so you can easily find the price you'd pay for one ounce round by looking at the spot price. I think the best place to buy your silver is apmex.

[Sammy]

That's great - thank you for such a fast response. Are there any websites or books you'd recommended so I can learn more?

[DanDeLaCruz]

(02-23-2011 04:13 AM)Sammy Wrote:  

That's great - thank you for such a fast response. Are there any websites or books you'd recommended so I can learn more?

This is a good one:

http://www.amazon.com/Rich-Dads-Advisors...132&sr=8-1

[rudebwoy]

Sammy don't waste your time reading books about it, just do it. The price is rising, by the time you make your decision silver will be at $50/oz. I have been buying for almost a year and I too wasted a few months procrastinating.

I missed the gold rush in 2005 when it was like 400-500/oz, I do not intend to miss this rush.

[Lief]

Sammy - there was a book that trusted hedge fund manager said was good

http://www.amazon.com/Investing-Resource...323&sr=8-1

Be careful with PM stocks - most mining guys are scum. You really want to make sure that the management are not fraudsters.

I invested in PM's around $450 and have made subsequent investments at much higher prices. The trend over the last decade has been moneyprinting. When there are signs that the trend is ending I will stop buying PM's. I don't expect that to be the case in the next few years.

[rudebwoy]

Stocks in general are a waste unless you have insider information. I obviously meant buying physical silver coins/bars/bullion as opposed to ETFs.

A good site is Kitco and they even have a forum with solid information.

[Samseau]

According to the NIA,

Lear Capital has the best silver prices.





I bought my 20 ounces of silver at 19.1 spot for 500 bennie bux back in Sept '10. Now it's worth ~875 bennie bux.



Personally, I would recommend WAITING until news of QE3 comes around before buying more.

The reasons:

1. Japan's turmoil is causing prices to drop all over the world.
2. There are rumors that QE3 will not immediately follow QE2.


Should there be a pause between QE2 and QE3, then silver prices (and just about everything else) should go way way down.

However, no matter what, if I see silver at or below 28 bux I'm going at least $1000 more into silver.


Awesome blog to follow for more on silver:

http://tfmetalsreport.blogspot.com/

[darth frosty]

(03-11-2011 07:42 PM)rudebwoy Wrote:  

Sammy don't waste your time reading books about it, just do it.

I missed the gold rush in 2005 when it was like 400-500/oz, I do not intend to miss this rush.

I cannot agree more!

In 2008 when TSHTF I had a line of credit for $10g. I thought about cashing out that credit line and buying gold (back than going for $800/900 an ounce.

Sadly I hesitated and not only did I miss the best opportunity to get in on gold, the creditline was dropped to $300 FOR NO DAMN REASON!

[Cincinnatus]

(02-11-2012 01:01 PM)darth frosty Wrote:  

the creditline was dropped to $300 FOR NO DAMN REASON!

A lot of the banks did this after the recession hit hard in 2008. $4,500 credit line here dropped to $500.

Meanwhile as credit lines are reduced or eliminated, corporations and banks are holding on to record amounts of cash.