Physical PM Investment Start
Although not specifically TA related I thought I’d post this request for member input as to the most trustworthy and least costly vendor from which to buy silver rounds or most liquid form of physical silver?
FGC suggested Silver Eagles / Silver Maples and also a bag of 90% “Junk”. Thank you.
Considerations that lead me to believe I need to have at least some physical PM (specifically silver) on hand are:
1) Silver has not bumped as gold has recently but may well play catch up in the near term (gold bull here).
2) It’s cheaper to buy units of physical silver rounds rather than gold (again I don’t have much $). << To start my build, I actually went with Fully’s suggestion with a bag of “junk” (Kitco).
3) I believe silver may be less under the eye of taxing or regulating authorities as opposed to gold (post-crisis windfall tax?).
4) I may be mistaken but in a crisis or post-crisis, I foresee silver being more easily transferred into cash rather than gold via smaller under-the-radar units.
Feedback appreciated.
Yes I agree with FGC–a bag of junk silver and if you live in the US then buy American Silver Eagles—you will be able to buy gas with silver coins and other goods and use silver coins to barter for goods and services. The value of just one American Gold Eagle coin will be and is already far too great to use for day to day transactions and having a few bags of junk silver will allow you to use old silver dimes to buy things with when a one ounce American Silver Eagle could be selling for $200 PER COIN by the time gold gets to $5000/ounce—I can recommend a coin dealer in the LA area that I have been doing business with for over 20 years and trust completely
Apmex usually has deals on Ebay every Friday and this will usually be your cheapest option over spot. If you are Canadian I’d buy Maples and if you are American I’d buy Eagles, personally. I deal with Schiffgold as I have a personal friend there. They are extremely reliable.
bitgold?
I have used Colorado Gold in the past – bought from them and then sold it back to them. They used to have the lowest premiums over spot and easy are to work with. I stick to easily recognizable Silver or Gold Eagles. Never have liked junk silver, guess I prefer the shiny new stuff more!
I thank each of you for the helpful suggestions, now to accrue more $ to buy with. It’s a bit more difficult when you’re not single.