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Discussion Starter · #1 ·
I have noticed a growing number of threads that is inquiring about buying Silver Bullion.

Instead of responding to the individual threads, I thought I would consolidate the information here.



Buying Silver and Gold is not a simple endeavor. You have to learn a bit to know what you are looking at. It certainly isn't one make and one price.

They carry the market value of the Silver content and a premium for their minting source.

Then they may carry a premium for their numismatic value (condition and rarity) which may make the same as collecting stamps, art and sports cars.
I would strongly suggest steering clear of numismatic silver bullion coins. They require a lot of research and know how benefit from. Numismatics usually benefit from boom times, not in times of decline.

Here is my precious metals summery with respect to Silver.

In my opinion, you should start by buying 1 ounce American Silver Eagles.
1 troy ounce = 31.1 grams.
Legal tender in the US. Declared Value of $1 face value (even though it costs $40). This will come in handy when dealing with the customs.
The Silver eagle is considered money by the state of Utah. 12 other states considering similar recognition for the Silver Eagle.

http://en.wikipedia.org/wiki/American_Silver_Eagle

http://www.gainesvillecoins.com/products/158230/SPECIALAmericanSilverEagle(DatesofourChoice).aspx

http://www.apmex.com/Category/160/Silver_Eagles___Uncirculated_2011__Prior.aspx

http://www.bulliondirect.com/catalo...l;jsessionid=DC8A9F7B5973FC34997F0C9A30CFD0A4

Later on, you can check out other Government Mint Coins:

Canadian Maples, Grizzlys, Timberwolves
Chinese Pandas
Mexican Libertads
Austrailian Kangaroos, Koalas, Kookaburras, Lunar (Chinese Zodiac Animals)
Silver Britannias
African Elephants

These coins also benefit from being legal tender in their respective currencies and carry a declared face value. Note:The Canadian coins have the highest purity in the group.

http://www.gainesvillecoins.com/Silver.aspx
http://www.apmex.com/Category/503/Silver.aspx

Then there is American "Junk" Silver. These are American coins that have silver content. They were minted as late as 1971. I have found that they vary in Silver content (40%, 90%), depending on the denomination and the year of minting.

You can check out "Junk" silver content here:
http://www.coinflation.com/

I am personally not a fan of Junk silver as they vary in silver content, and I don't expect the average person to instantly recognize them for what they are, unless they have been educated on the subject.

I won't pass up a good deal on buying them, but I am also not actively looking to buy them either.

However, some Junk silver coins may have numismatic values that are worth a lot of money.

That said, I do like the designs of the Morgan Dollar, Liberty Dollar and the Mercury Dimes.

You can check them out here:
http://www.apmex.com/Category/528/Silver_Coins_90_40__War_Nickels.aspx
http://www.gainesvillecoins.com/category/407/90-percent-silver-coins.aspx



If you are looking for rock bottom prices and you don't care about the bullion form because an ounce of silver = and ounce of silver = an ounce of silver, then you can check out generic bullion bars:

Generic Bars include but are not limited to:
Englehard
Johnson &Mathey
Apmex
Sunshine Mint
Silvertowne
Royal Canadian Mint
Pamp Suisse
Academy

http://www.apmex.com/Category/1184/Silver_Bars_All_Sizes__Manufacturers.aspx

Some have a more popular name brand then others and carry a premium that is higher then others.

Here is another fairly new, and fairly popular generic silver bullion mint:

Scottsdale Silver
http://store.scottsdalesilver.com/storefront.php

I like their:

1 ounce Stackers bars
http://store.scottsdalesilver.com/product/13/"The-One"-by-Scottsdale,-Pack-of-10

1 ounce Buffalo Rounds
http://store.scottsdalesilver.com/product/8/1-Oz-Silver-Buffalo-Rounds-20-Oz

1 ounce Omnia Silver Rounds
http://store.scottsdalesilver.com/product/29/Scottsdale-Omnia-Silver-Rounds-20-oz

Not all Silver is created equal. The rounds with the most recognizable name usually wins. You can tell because they cost more than other rounds.

The Englehard, Johnson & Mathey, and Pamp Suisse bars have the most recognizable names. As such, they carry higher premiums, and are the most counterfeited. I believe that Englehard no longer produces new bars. So if you see a shiny new Englehard, it may be a fake.

The Scottsdale Silver company is the new kid on the block, but have been received very well. People like the designs and have accepted the premium. You can see that they sell very well on ebay and other places.


The best places that I have found to buy precious metals online is:

www.gainsvillecoins.com
www.apmex.com
www.bulliondirect.com

You should check around for prices. Some people here have reported paying much less locally. Remember, once you factor in shipping and taxes, it may not pay to buy online. But, if you do your homework, you can find better deals elsewhere and even on ebay.

When all is said and done, your best bet is to start you Silver Bullion collection with US Legal tender coins, that means the American Silver Eagle.
 

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Discussion Starter · #5 ·
You consolidate information but then fill in with opinion? K
I offered my opinion on Silver and where to buy it.

Ultimately, people have differing opinions on the types, sizes and quantities that they want to buy.

If you have some sources you like to buy from, by all means add it.
 

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This needs to be a sticky. There are currently two threads on asking for PM help in the Financial section and surely more to come.
 
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