I took a break from buying silver and want to start buying some again. I’m talking about small quantities like 1 silver dollar coin a week from a local coin store. Is it like investing in a mutual fund where steady investment over time is best or should I try to time the market. Timing the market brings up another challenge as I’m not experienced enough to do that.

These threads always bring the usual clowns who like to offer their funny comments about people who want to do as you desire.

I think what you wish to do is a great idea. Do it as best you can as much as you can for as long as you want to.

Find someone local to you who will sell you one ounce type coins Morgans, maple leaf, American Eagles, etc. for a small profit over spot. They may even have some neat collectable offerings at times to add to your collection.

Keep a journal on what you buy, for how much, when and who you get it from. Store it so you know which coins you got and when.

to me, this is way better than wasting $ on stuff that will mostly be worthless the minute you leave the retailer.

Good for you.

The one ounce bullion coins are probably better for investing than collectibles since their worth is readily determined at any point in time (spot + sell premium), unless you have experience in the collectibles market. Of course, that might preclude some collectibles which could rise in value over the years such as the US mint’s Apollo 50th anniversary coins that can be bought relatively cheaply today.

In addition to the local buying suggestion, keep an eye out for some of the online dealers. They occasionally have sales where sell premiums are significantly reduced (sometimes to zero so you’re buying at spot), but you may need to buy $100 worth which would be about 5 ounces of silver before they throw in free shipping and insurance.

Follow ORC's advice. Recognize silver collecting as a hobby: not an investment.

I'm the clown.

well....

buy low

and

sell high

( I hope this helps )

I bought physical silver (Roosevelt dimes) during the Obummer admin and did really, really well (pure luck). I sold off 40% of the dimes in 2 batches 4 months apart (10% the first batch and 30% the second batch) which due to the increased value equaled my original investment (i.e. I was left with only the profit).

To be fair, it was a PITA to sell the dimes:

I had to count dimes to sell them

The bulk bag of dimes I originally purchased had about a dozen non-Roosevelt dimes

eBay, PayPal, and shipping fees were pretty high when I sold the original batch. eBay & PayPal fees which were 4.4x more than shipping fee.

I sold the second batch to Gainesville coins and the shipping cost wasn't 3x higher (i.e. more economical to ship more at once). There price was just as good and I avoided the exorbitant eBay & PayPal fees.

If I did it again, I would buy the ETF SLV. No counting, no packaging for shipping, and buying/selling ETF fees & spreads much lower.

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Ego is the anesthesia that deadens the pain of stupidity

DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.

quote:

If I did it again, I would buy the ETF SLV. No counting, no packaging for shipping, and buying/selling ETF fees & spreads much lower.

If you aren't worried about having physical coins on hand in case of an emergency where it must be traded (SHTF scenario), this is the way to do it. Easy in, easy out.

quote:

If I did it again, I would buy the ETF SLV. No counting, no packaging for shipping, and buying/selling ETF fees & spreads much lower.

While I do have some regular silver and junk silver this is what I do (SLV).
Another factor in physical silver is that you have to factor in the difference in (basically) wholesale/retail pricing.
You buy retail and sell wholesale and whatever that difference is +/- 10% is the amount that your "buy" must go up to break even.
SLV is much easier to buy/sell.
YMMV

My tip:

Buy low, sell high.

I buy billion rounds and Canadian maples both gold and silver. I've been using ProvidentMetals. I watch the line and might buy a few when I see it dip a bit but I usually more buy on my timetable of available cash. I'm trying to get to a reasonable amount that can support my family should we hit a banking crisis or a money availability crisis. Also want to have something that won't likely deflate in value when high inflation returns.

I hope you mean bullion rounds. Otherwise you're in a whole other class.

I really like the current production American Silver Eagle one dollar (face value) coins by the US Mint.

One ounce of 99.9% pure silver.

Copied and pasted: The American Silver Eagle is the official silver bullion coin of the United States. It was first released by the United States Mint on November 24, 1986. It is struck only in the one-troy ounce size, which has a nominal face value of one dollar and is guaranteed to contain one troy ounce of 99.9% pure silver.

I like them because, to me, they are gorgeous.

If you’ve never seen one, go to your local coin shop and see one IN PERSON.

I buy and hold, never sell, but I do buy some to gift as a birthday or other special occasion. People love them.

At today’s rates, you’ll pay roughly $20 each to get one.

It’s a whole ‘nother discussion about why and how to buy silver, or gold.

I buy because I like them, and I buy them because I know they are a “store of value”, which is NOT the same as an investment. If you understand this then it’s a whole ‘nother world of looking at things. (I’m referring to any gold or silver, not just the above mentioned Silver Eagles.

Good luck to you.

I don't know much about it, but I went to a local coin shop and bought a few silver american eagles two weeks ago. Gold has recently jumped up in price and I think silver is likely to go up soon. I don't plan on selling them, but if I ever run short of cash, I will always be able to trade them.

Junk silver halves and quarters is what I like. No sales tax on js but there is on commemoratives.

I like the American Silver Eagle and noticed recently that the older ones were bringing a higher price.

Silver dimes, quarters and half dollars are good to have around for smaller trades. I still find silver quarters and dimes at times.

I started buying silver like this about a year ago. While I don't view it as an investment that will make me rich, I see it as not blowing that money on something that's worthless a minute later, or just plain gone.

After buying a few cool collectible pieces, I realized that there are a jillion collectibles, and I have no idea if they are really sought-after or not...so I only buy 1 ounce coins and bars.

Arizona is a 'bullion state,' which means bullion is mined within the state, and there is no sales tax when you buy it. So this is like getting my silver for 8-10% cheaper than in another state.

Also keep in mind if you buy online, there will be a credit card fee of 2-3%, unless you buy a certain minimum order. Prices quoted are cash price. You can send in cash (money order), but expect your delivery to be delayed.

While 2 percent here, or 10 percent there, doesn't seem like much, wouldn't you like to buy groceries or car insurance, etc. for ten percent less? If you ever need or want to sell, that's a little more cushion for you.

You really shouldn’t consider it an investment.
Unless you understand the metals market stay out of SLV and the like. Gold and silver prices have and can be manipulated. Two JP Morgan execs just got convicted of doing so.

In Kentucky, I’d buy either Mexican Silver Libertads or Canadian Silver Mapleleafs.

For the very near future I wouldn't buy any since I think prices are going downward for a while.

Whenever you see discounts off of the premiums at places like Provident Metals you can pretty much bet they figure prices are going south. Right now I've been seeing a lot of "deals".

Might be the typical market doom and gloom in October, or maybe something else, but I think if you are a bit patient you can do better on your purchases. Probably by about $2 per oz. or so in the next couple months if I were to be cornered on specifics.

I'm not a wizard though, so do what you think is best.

quote:

Originally posted by HighZonie:
well....

buy low

and

sell high

( I hope this helps )

Beat me to it.

(Good luck on timing the market. Research has shown that timing any market is virtually impossible.)

I like doing the bullion and 10 oz bars.

Also, like to pick up the uncirculated silver currency from other countries (their silver eagle equivalent). Eagles, Maple Leaf might be in bulk (in place of the bullion) but I do have a couple British, Austrian, South Africa, etc which go into a coin snap holder and then into a challenge coin shadow box (with the military ones).