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  #1  
Old 02-14-2012, 04:36 PM
jaybaileys jaybaileys is offline
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Default Been buying silver for about a year.

I've bought just under 141 ounces. I've paid just under $5600. I have the 2010 P ATB coins, a bunch of Eagles, junk quarters, some Morgan and Peace dollars, and a few Englehard rounds. It worked out to $39.73 per ounce. Not great, but if you take out the ATB coins I'm at $35.35 per ounce. I plan on continuing to buy for the forseeable future. Any comments, as to how I'm doing or any changes you guys would make. I do buy off the bay and a local coin shop right now. The guy at the coin store seems pretty fair, except his premium on Eagles has gone from $3 over spot per coin to $6 more recently. Haven't bought any of them in awhile, been loading up on the 90% more now. Thanks and happy stacking!
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Old 02-14-2012, 04:43 PM
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Spartikis Spartikis is offline
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get off the ebay, its a rip. lcs are nice for purchases of 5oz or less but for larger orders of 10+ oz check out websites likes apmex, kitco, gainesville or my favorite provident metals, they charge no tax, have low premiums and shipping is reasonable. overall ur doing good, 100+ oz a year is a good goal and is what ive been working towards. Also dont forget about gold and platinum as they are good inestments too.
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Old 02-14-2012, 04:46 PM
govikesgo govikesgo is offline
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Quote:
Originally Posted by Spartikis View Post
get off the ebay, its a rip. lcs are nice for purchases of 5oz or less but for larger orders of 10+ oz check out websites likes apmex, kitco, gainesville or my favorite provident metals, they charge no tax, have low premiums and shipping is reasonable. overall ur doing good, 100+ oz a year is a good goal and is what ive been working towards. Also dont forget about gold and platinum as they are good inestments too.
How is buying off ebay a rip? No one holds a gun to your head when you bid, do they?
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Old 02-14-2012, 04:52 PM
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Spartikis Spartikis is offline
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Originally Posted by govikesgo View Post
How is buying off ebay a rip? No one holds a gun to your head when you bid, do they?
I can get silver usually for several dollars less in a lcs than on ebay, even with sales tax. Occassionaly ebay will have a good deal but for the most part its a mess of over priced bidding wars. if you want to buy there go for it, i however will pass.
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Old 02-14-2012, 04:52 PM
TexRdnec TexRdnec is offline
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i've been doing quite well getting 90% silver under spot, after shipping
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  #6  
Old 02-14-2012, 05:14 PM
govikesgo govikesgo is offline
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Quote:
Originally Posted by Spartikis View Post
I can get silver usually for several dollars less in a lcs than on ebay, even with sales tax. Occassionaly ebay will have a good deal but for the most part its a mess of over priced bidding wars. if you want to buy there go for it, i however will pass.
That doesn't make ebay a rip off. That just makes them higher priced, which isn't always the case. I guess it just ruffles my feathers when people throw out the terms rip-off, clown, jerk, etc when talking about what people charge for things. I buy 90% for 18x face from people on CL, what does that make me?
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Old 02-14-2012, 05:19 PM
jaybaileys jaybaileys is offline
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Quote:
Originally Posted by TexRdnec View Post
i've been doing quite well getting 90% silver under spot, after shipping

Care to elaborate any more on this? I see posts like this all the time and can't duplicate your success. Help a brother out.
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  #8  
Old 02-14-2012, 05:38 PM
outlaw outlaw is offline
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Quote:
Originally Posted by jaybaileys View Post
Care to elaborate any more on this? I see posts like this all the time and can't duplicate your success. Help a brother out.
When it comes to the 'bay, timing is the key. I never bid on items that are ending soon. I like to look at the newly listed items, and check the buy it now option so only the BIN listings come up. Then, I look through what has been listed in the past few hours. Everyday I'm seeing you can get 90% at spot or below shipped. Hope this helps.
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Old 02-14-2012, 05:45 PM
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97guns 97guns is offline
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Originally Posted by jaybaileys View Post
Care to elaborate any more on this? I see posts like this all the time and can't duplicate your success. Help a brother out.

one technique is just bidding under melt and winning the auction. you have to put the % in your favor, im buying junk right now and am high bidder on 10 auctions. if i win i pay under melt, if it goes over my bid i let it walk.
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  #10  
Old 02-14-2012, 05:56 PM
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dan8802 dan8802 is offline
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I would continue to buy 90% silver. And I would continue to go to your LCS. You never know what deals will pop up.

The type of silver you buy may depend on your reasons for stacking. If you're just looking to hedge inflation or invest you may be better buying 10 ounce bars for close to spot... simple to stack/count/ liquidate. If you ever think you may need to barter, you should go heavier into 90%. If you're concerned about liquidity and recognizably, ASE's, Maples, and Philharmonics (and other gov't minted coins) will be best. I like to hold half my silver in 90% and the rest in 1 ounce .999 coins/rounds.

90% has many advantages. Its Gov't minted, fractional, durable, very liquid/ highly recognizable as US coinage, priced closer to spot than other forms of silver, and has a nominal face value. Its also very hard to counterfeit/fake. Its also fun to stack 90% with all the different coins and the history that comes with them.

If you do buy a lot of 90% silver, I would try to focus on half dollars, All Kennedy half dollars are from 1964 and saw little to no wear. I can usually buy them in BU condition at my LCS. Quarters usually saw more wear, so I try to "cherrypick" the best quality ones. (wear really isn't a problem, I'm just anal about it).

I would try to avoid the high premium stuff like the ATB's. Personally I would sell them/trade them for lower premium silver.
Also consider diversifying into other metals if you haven't already.

Good luck.
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