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Dam it Daddy yew lye. Yew nevr god enny silvor. Yew uset too steel weelwaits en sprey em wit metalick Crylawn then tri two pawne em fore yore vises lyke Natie Eyese en tripse too boice towne.

American Precious Metals Exchange (apex.com)

Appreciate the reply. Though a long time active investor I have never dabbled in precious metals short of a few gold companies buried in a mutual or two.

I've bought from these guys and from SD Bullion on my last few orders. Most online places are legitimate if they will take a credit card and have been around for a few years.

The premiums on eagles and junk are super high right now. They charge at least $10 over spot when you but but want to give you barely over spot when you sell to then. Its easy to get hurt with those big spreads and hard to make anything.

Some places have decent deals on 5 or 10 ounce bars sometimes. They'll charge maybe $3 over spot per ounce when you buy but will often give you spot or spot plus $1 when you sell it back. The huge premiums are hard to overcome.

Bb

Is that typical of folks here? Read of it some but little of the value hoped.

Yep.

It's not about making money (although that's possible given certain conditions). It's about insurance against hyperinflation and monetary collapse. Historically, during periods of hyperinflation and monetary collapse, folks with a little gold and silver were able to continue to buy essentials, while those without could not.

My focus has always been on junk silver, but recently that has changed. I always keep a calculator handy when I'm pricing stuff to buy.

And I've never had any luck selling to suppliers like JM Bullion, or APMEX. They are good outfits and generally fair with prices, but have never been offered enough by them to sell them anything back.

My only real experience in selling silver came in the summer of 2009 when the price jumped to over $44 per troy oz. In my community there were 2 storefronts set up just to purchase silver, and I sold most of my junk silver at a very handy profit. The guy I sold to paid cash in hand. He had a scale set up and was able to test for purity. He liked junk silver because it is a known source and simple to appraise.

Based on my experience, I don't worry about or consider selling until conditions make it a simple choice, like in 2009.

I buy in the smallest denomination that I can afford. One ounce rounds are generally more expensive to produce and market than larger denomination bar silver.
I didn't buy today, but priced one oz rounds at within 36 cents of the PPO of a best value 100 oz bar. That is a good value, in my mind.

Thanks all - I just want to add some to the safe and I'm curious as to how others did as well. Bars/coins etc.

Bought a little from South Texas Precious Metals here and there over the years. Reasonably good prices. As noted by others, the premium on ASEs is ridiculous and has been for some time.

https://www.texmetals.com/

I guess the question is - is an oz of silver an oz of silver for you when it comes to value in your mind?

That being Spot silver is XX price. I have a silver eagle and I have a silver bar - both 1 oz, does it matter to you which you'd receive for that spot price?

"Easy" button is pre 65 dimes and quarters. Half dollars if you want to get fancy.

Not a silver bug, but as you said simple enough to have on hand. I bought by the $5 - $10 face value here and there to add to the safe. Grade doesn't matter, don't care if they're Mercurys, Roosevelts, etc... Think I've got $60-65 face in dimes and about $30 face in quarters. Maybe 15-20 half dollars. No muss, no fuss. Set and forget, probably never actually need them but I guess they're around if it comes to that.

The best way to acquire silver is if you have a store catering to low end cliental. Put up a sign advising that you buy U.S. pre-1965 silver coins. You are basically getting 7/10 of an ounce for every $1 dollar face value. So you can pay up to $14 on the dollar and be OK.

I would never conduct such a business out of my home. Unless you would enjoy an armed incursion by folks wishing to appropriate your stash.

This.

Personally, I wouldn't give you squat for the Eagle over the bar. But the market seems to say a lot of people disagree with me.

I have both, but the difference is it's a lot easier to trade for goods and services with coins than bars, if it came to that.

I wouldn’t pay a premium for coins over bars. But I dam sure would buy coins over bars if they were the same price. Priced the same, Eagles will sell much faster than bars.

Silver is a bifurcated market. But I am sure you know that...and you are just stirring the pot.

And regarding "paper silver" and "paper gold"...I consider such to be at the top of Exter's pyramid....with the derivatives.

Not interested. I only buy and hold physical.

Smart