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11/26/10, 08:16 PM
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Join Date: Sep 2010
Location: Northwestern Illinois
Posts: 1,398
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Where do you buy gold and silver?
Ok, I'm almost stocked up with the needs list, other than perhaps getting some silver. My question is .... where do you buy it? I'm sure Wallyworld doesn't have it, right? Do you go to the bank? Do they still sell old silver coins (dimes, right?)? Look at pawn shops? Online somewhere? Please help as I'm clueless. Where do you buy your silver?
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11/26/10, 08:47 PM
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Join Date: Jul 2009
Posts: 171
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I have bought from several places. Some of these places will absolutely try to rip you off. Be sure to check the local BBB and State Attorney's office for complaints. These are the people I use now:
http://www.gainesvillecoins.com/
Don't buy ingots because there is a % lost on resale for remelt and re-assay (so I'm told). Your best bet is to buy silver eagles (coin). Look under bullion.
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I dunno if this is realistic, but this video gives some hypothetical outcomes of "the day the dollar died":
I guess the scenes represented are within the realm of possibility.
Last edited by coehorn; 11/26/10 at 08:55 PM.
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11/26/10, 10:29 PM
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Join Date: Nov 2010
Posts: 480
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Coin shops (this is a big one), coin roll hunting, (when it was cheap) ebay, and craigslist. We only bought coins from craigslist at 10x's face. Don't by rounds (oz) on craigslist, you might just get ripped off.
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11/27/10, 08:01 AM
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Join Date: Aug 2007
Location: Texas
Posts: 158
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__________________
Roddy and Sandra
and The Thundering Herd
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11/27/10, 08:59 AM
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Join Date: Jul 2009
Posts: 171
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Quote:
Originally Posted by freeholdfarms
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Be sure to check the local BBB and State Attorney.
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11/27/10, 11:41 AM
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Join Date: Sep 2005
Location: EastTN: Former State of Franklin
Posts: 4,483
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Bought from APMEX several times, never a bad experience. Know a whole lot of folks that also bought from them, and same deal.....very professional to deal with.
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11/27/10, 12:19 PM
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Banned
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Join Date: Oct 2006
Posts: 12,448
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You can usually buy local and save the shipping. Before buying get to know what ever type you are going to buy.
If you buying for SHTF times buy something easily recognized.
If you are buying for investments make sure you have a ready market close buy when you decide to sell.
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11/27/10, 02:41 PM
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Join Date: Jun 2002
Location: central idaho republic
Posts: 1,843
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Know the value of the coins you are going to purchase BEFORE you look.
Coinflation has easy to use plug and see charts for the value of each type of coin you may come across.
you will pay a premium if buying numismatic type coins from a coin shop, but they still have "junk" silver for sale too that has little if any value to most collectors any more.
Ive made decent deals on EbayŽ even recently as the price fluxes, but watch in amazement at the prices some people pay for junk coins on the hopes the price will increase and they can turn a "quick profit" which i would think never pans out at the prices paid..... due dilligence is a factor on making a decent deal in any trade, and places like APMEX does pretty good for folks if you have more dollars to spend the price comes down......but it takes a pile of inky greenbacks to get the best deal from them [ok a large number of electrons on a bank screen can be used too]!!
A $15.00 investment in a "Redbook" for coins is not a bad idea, then investing in the error books and the die variation books so you can sit and "fondle" your stash with a reason and see if you have something of value greater than paid for the coin that will sell individually to a collector of those errors and variations. it makes coins worth having and adds a whole new dimension to your reasons for buying coins, and it gives a person something to do during the rain storm that wont quit or the snow storm that you aint ready to go shovel the driveway out just yet from! Plus learning new things keeps the mind sharp.
most of have fun while learning!
William
Idaho
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Upon the plains of hesitation bleach the bones of countless millions, who when on the dawn of victory paused to rest, and there resting died.
- John Dretschmer
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11/27/10, 04:22 PM
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WV , hilltop dweller
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Join Date: May 2002
Posts: 3,559
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I agree on the doing your homework before purchase. I have gotten some good deals on ebay just because I knew what I was looking at and the other folks didn't(including the seller). Always have a maximum bid determined before you start. Determine it by current metals prices and include the shipping in your figures. If I can't get it for less than I can RIGHT THEN recover from it I don't bid. What I like about ebay is that there is no-one in a shop here in town that knows what I have been buying, unlike doing all my business at the local coin shop. On ebay always look at the "newly listed" and add them to your watch list. Never bid early unless it is a "buy it now" you want for the price listed. Bidding early only signals that there is interest in the auction and you can end up running the price up on yourself by starting the actual bidding early.
Be careful and have fun...bee
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" As needs-MUST!!"--- in other words..a gal does what a gal has too!
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11/27/10, 07:32 PM
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"Slick"
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Join Date: Apr 2009
Location: Moving from NM to TX, & back to NM.
Posts: 2,341
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What William said is good. Start at coinflation.com
Find the silver melt calc page http://www.coinflation.com/coins/sil...alculator.html
Then go to ebay & start calculating what you want to pay for that 'junk' silver. Include shipping in you cost. Don't go over that amount. Only buy dimes/quarters/halfs from 1964 & earlier.
Plus, there is no sales tax on ebay.
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We will meet in the golden city, called the New Jerusalem,
All our pain and all our tears will be no more.....
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11/28/10, 05:26 PM
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Join Date: Jul 2003
Posts: 6,722
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The best deals I've found have been at a coin dealer. I use this one in Texarkana. Their standard markup is spot + $1 so when silver was at $12, they were selling for $13. If you buy volume, they give discounts, so it pays to get a buying group together if possible. The group I buy with always buys a min of $1000 for the simple reason that they don't charge sales tax on sales over that amount. On our last buy, they threw in 2 extra rounds as a bonus.
I find a few silver coins in change I get when shopping, but it's rare to find one now days.
I've read that some people have had good luck buying boxes at banks for face value. I think they come in boxes of $500 and over. They sell the non-silver coins back after getting the valuable ones out of the mix.
Used to you could find deals on ebay, but with so many buying now, I doubt there's any deals to be found.
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.Everybody has a plan.
Do you know yours?
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11/28/10, 05:49 PM
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Join Date: Aug 2006
Location: DFW metromess
Posts: 51
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My biggest purchases and sells have been from www.apmex.com.
By far my best bargains have come from EBAY, but required more time.
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11/28/10, 10:00 PM
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Join Date: Sep 2010
Location: Northwestern Illinois
Posts: 1,398
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Thanks everyone for their input!!
I was mainly looking for 'junk' coins, I guess. I want another 'barter' tool to add to our abilities. I don't think uncirculated or odd coins would be the best as they would be greatly marked up and valued most by collectors only. It would be easiest to trade a 'dime' according to the value of silver in whatever new monitary system might be set up.
Again, thanks for everyone's input!!
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11/28/10, 11:15 PM
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Join Date: Oct 2004
Location: Ohio
Posts: 4,325
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I buy "junk silver" from the guys who buy "junk silver". That works real well for me.
One situation comes to mind. About 15 months ago I bought a roll of Kennedy half dollars from a flea market dealer who buys and sells coins. The price then was 10 X face value, or $5 per coin. There are 20 coins in the roll. The roll had been opened so that they could be seen, so now they are in a coin tube. The initial investment was $100.
Now 15 months later the actual silver content of this coin is valued at just a few cents under $10 per coin, almost $200. This is the scrap value of this 90% silver coin.
Since the coins are BU condition, I would believe that they could market at $13 to $15 without too much effort.
There were no brokers fees or shipping costs involved.
In this situation the value of this investment has about doubled in 15 months. I feel confident in this investment. It seems logical to me, that the value of this investment will continue to increase.
I have this investment in my possession. Had it in my hand a few minutes ago. I would be leery if I had a paper signed by a person that I do not know; stating that I owned silver that they had in a safe place for me.
It looks to me like this investment has done well. Had I put the original $100 in "the Bank" I am not sure what would have happened. I notice that 311 banks have failed since the start of this "recession". I like my way better. 
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11/29/10, 02:19 PM
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Registered User
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Join Date: Nov 2010
Posts: 7
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I would recommend APMEX as well. Silver coins are better than trying to obtain bullion
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11/29/10, 03:25 PM
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Join Date: Jan 2010
Posts: 415
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Ditto on APMEX.
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