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I have a cousin that his side gig was to hit the local banks and buy up their 50 cent coins every week and sort out the old ones. I have no idea if it was worth his gas. This was 15 or 20 yrs ago.


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What’s the best way to buy physical silver at close to spot price?



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Originally Posted by SDLEFTY
I have a cousin that his side gig was to hit the local banks and buy up their 50 cent coins every week and sort out the old ones. I have no idea if it was worth his gas. This was 15 or 20 yrs ago.


I did the same thing back in the 90's.
I'd go in and pick up a couple of rolls of half dollars, pick out the silver ones.
Went in one day for another roll when I saw the receptionist sitting at her desk, going through half dollars!
Never found another silver coin. 😡!

We bought quite a bit of silver and a couple of small gold coins back when silver was $12/$13/oz.
Kept buying until it hit up around $20/oz and Maple Leafs were over $20/each.

About 6 months or more back, silver dropped to around $12/oz! I grabbed my mad money stash and waited.
I don't think Maple Leafs or Silver Eagles ever dropped below $28/ea. Oh well!
We haven't bought anything since silver coins went above $21.
Just a note:
When we first started buying metals, an old buyer told us, "Don't buy U.S. coins. The Gov't "can" pick them up. Buy foreign coins."
We bought a lot of those "Prospector" coins
While a good investment, it won't hold the same value as a Silver Eagle or Maple Leaf.
Coins stamped with a monetary value are more recognized as a "monetary" unit.
FACT? Uhhmmm.....I don't know, but it made sense to us at the time

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Originally Posted by jackmountain
What’s the best way to buy physical silver at close to spot price?


The only way I've ever done this is face to face with a motivated seller.

PM marketers will neither buy or sell for spot price.

Only the kind of inflation no one wants to see makes silver look like a good speculative investment.

If your debts are satisfied, and your portfolio could use a cushion, buy it as a hedge


"Chances Will Be Taken"


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Originally Posted by johnw
Originally Posted by jackmountain
What’s the best way to buy physical silver at close to spot price?


The only way I've ever done this is face to face with a motivated seller.

PM marketers will neither buy or sell for spot price.

Only the kind of inflation no one wants to see makes silver look like a good speculative investment.

If your debts are satisfied, and your portfolio could use a cushion, buy it as a hedge

No debt and looking for vehicles to ride out the hyperinflation we’re about to see.



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Commodities, some PM’s, and make sure your beans, bullets and bandaids are topped off. We are not simply looking at hyperinflation, communism is in the wind as well. And hopefully(understand I do not wish for it, but it is better than peaceful submission) a civil war. What you can keep and carry is what you are likely to end up with when its over.

We are increasing our self-sufficiency here at the farm, and working on a plan to be able to move, if needed, while retaining some wealth. Farmers generally have not survived on their land very well under a communist regime, so a plan to move quickly is good to have. I have always in the back of my mind remembered that Russian farm family that fled to the mountains of Siberia with what they could carry, and managed to survive for decades undetected. Looked hard at what hurt them out there. and thought about how I could mitigate those same issues. That would not necessarily be my strategy, but one can learn a lot from those people and times.

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Originally Posted by Dillonbuck
100% on why to buy.

Another question, the cynic in me can't help but wonder...

How do you know you are gonna get silver?
At the percentage it's advertised?
I can hear a silver quarter hit the counter from a distance,
But I can't tell 99% from 79%...


You can use a little tool called a Pocket Pinger, coupled with an app on your phone called the precious coin tester.

You select the specific coin you are testing (ie American Silver Eagle) and ping it and the app tells you if it is genuine.

Or you can spend $1,000 on a coin analyzer...but that is not practical for 99.9% of us.

They can all sound a little different...so pinging by ear is tough unless you know how a Britannia sounds compared to a 1.5 oz Canadian Arctic Fox!

Short of that....don't buy from unknowns on Ebay or the street corner!

Last edited by Tarbe; 05/06/22.

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Originally Posted by Dillonbuck
Where do you buy it without getting raped in markup or fees?

I do most of my PM business here: apmex.com

I do check in with a couple local coin shops that occasionally have bullion.

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You need Deflation..

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