• Watch Out for Scammers!

    We've now added a color code for all accounts. Orange accounts are new members, Blue are full members, and Green are Supporters. If you get a message about a sale from an orange account, make sure you pay attention before sending any money!

Good place to buy silver coins?

diverdon

Constitutionalist, by choice
Full Member
Minuteman
  • Dec 21, 2011
    6,300
    7,994
    WNY
    I'm looking for a good place to buy silver coins.

    Government spending and stimulus is totally out of control. Many trillions of dollars printed and distributed, no good being produced, wtf this can only accelerate inflation. Go into Walmart or Dicks and look for a kayak, they are all sold. Too many people got their twelve hundred for nothing and spending it. I'm sure its a great time to be selling cool shit that people want but don't need. But, whats the economic future of a country that pays people not to work?

    Anyhow I'm looking for a decent place to buy a small stock of US silver coins. Just enough to buy some groceries if someday the dollar is worthless.

    I would prefer a safe reliable dealer who takes e-checks (like EuroOptic), ships quickly, and doesn't charge too much over spot price.

    I would also be interested in hearing people informed opinions on what a fair price over spot is to pay for delivered silver coinage. Both the pretty new one oz coins and the old coins that have 71oz of silver per $100 face value.

    For me I only want US silver coins. Sure foreign (or privately) minted coins may be just as good, but I'm thinking fear of the Secret Service should reduce the chance of counterfeits with US coins.

    Had a acquaintance recommend Kitco, and I looked into them but they don't do echeck and the price can change while your wire is on the way.
     
    I sold a bunch of Pre-21 Morgan's two weeks ago (Kitco) at $20.15ea. That place was hopping 10yrs ago, very slow last few years. Sounds like you're looking for 90% pre-65 stuff or ASE's. You usually don't recoup much on premiums (which are high now), so I'd avoid the ASE's. Peace dollars another option.
     
    that is something that I have been interested in as well. I have quite a few pre-65 coins already.
     
    That train has left the station.

    This country has been living on a perpetually growing deficit since they invented the Great Depression...

    Worry about something you can actually fix.

    The only ones who actually profit are the ones who run the crap game.
     
    I'm laying in tobacco, alcohol, ammunition, and long term storage food like canned/dried meat, beans, 'taters, rice, veggies and reloading components. Where this Republic is going it'll be worth way more than silver soon.

    Can't eat nor shoot silver and when it hits the fan nobody is gonna trade for silver.

    VooDoo
     
    I'm laying in tobacco, alcohol, ammunition, and long term storage food like canned/dried meat, beans, 'taters, rice, veggies and reloading components. Where this Republic is going it'll be worth way more than silver soon.

    Can't eat nor shoot silver and when it hits the fan nobody is gonna trade for silver.

    VooDoo
    If you did not have enuf ammo last week it's too damm late to worry about it now. If you don't think farmers will take silver, a valuable commodity , in exchange for their valuable commodity of food even in times when the dollar has become worthless, then you are wrong. Yes of course one should have food all ready stored. Tobacco, not in my house.
     
    SD Bullion is solid and has lower prices than APMEX/JMbullion most of the time. They also have frequent sales on 90% Constitutional coins. Silver Gold Bull has also been very easy to deal with and has good pricing. Monument metals has some of the best prices on American Silver Eagles but no matter where you get them the premiums are too high on ASE's. Thesilverforum has a buy/sell forum and lots of giveaways and frequently you can score coins or bullion with much lower premiums over spot. Very knowledgeable folks there as well.

    good starting point here:

     
    Last edited:
    • Like
    Reactions: Bender
    I sold a bunch of Pre-21 Morgan's two weeks ago (Kitco) at $20.15ea. That place was hopping 10yrs ago, very slow last few years. Sounds like you're looking for 90% pre-65 stuff or ASE's. You usually don't recoup much on premiums (which are high now), so I'd avoid the ASE's. Peace dollars another option.
    Damn. I literally did not understand a single thing that was said. I'm not asking for an explanation. Just shocked at how apparently complicated purchasing silver is.
     
    I'm laying in tobacco, alcohol, ammunition, and long term storage food like canned/dried meat, beans, 'taters, rice, veggies and reloading components. Where this Republic is going it'll be worth way more than silver soon.

    Can't eat nor shoot silver and when it hits the fan nobody is gonna trade for silver.

    VooDoo

    "Guns, Ammo, Food n Silver." Been my motto since Obummer. One would have to be really dense not to see what's coming. Never know when the final main domino accelerates the unraveling... but unravel it will. I have bought silver through Ebay, Scottsdale, SD Boullion (usually the cheapest with best selection) and Prospectors when I'm feeling flush enough to get their fancy skull stamped loafs I like https://prospectorsgoldandgems.com/poured-silver-bars

    Buy as much as you can. I buy all weights but more in smaller sizes bc in times of barter it'll be kind of hard to slice a couple ounces off a kilo bar. Thanks for reminding me I just bought several of SD's on sale Indian Heads --HA... You Geezers remember when these were solid silver and worth 5 cents?

    I don't --LOLOL

    silver-buffalo-round-indian-head.png
     
    Last edited:
    I have bought silver through Ebay, Scottsdale, SD Boullion (usually the cheapest with best selection) and Prospectors when I'm feeling flush enough to get their fancy skull stamped loafs I like https://prospectorsgoldandgems.com/poured-silver-bars

    I might suggest you try a bit of an experiment in seeing how easy it is to resell those artsy bars as opposed to selling something that is actual minted stuff from the USA and Canadian mints.

    You might find that it's worth paying the extra premium for the legit currency mints if you want to easily use them for selling / trade later on.
     
    • Like
    Reactions: 91Eunozs
    Damn. I literally did not understand a single thing that was said. I'm not asking for an explanation. Just shocked at how apparently complicated purchasing silver is.

    I got into this in 2009 when spot was $12.82 (Go to Kitco.com to see spot and historical charts.)
    Back then there was a lot of action in spot, rising to $49.xx before retreating. A lot of people who cashed out made some real money.

    The "premium" you pay is the difference above spot, so with spot currently about $18.50 - paying $21 is a $2.50 premium.
    Often silver rounds, 90% coins (Pre-65 silver coins with random dates), and bars, don't pay an appreciable premium on resale, so you might eat that.
    American Silver Eagles (from US mint) carry and often transfer a good part of the premium. A monster box is 500 ounces, those used to trade quite a bit back in the day.

    There was a dealer back then named Hannes Tulving. He was more of a "dealer to the dealers" with minimum orders on silver at 500 oz. You called, locked in, and sent a bank wire or cashiers check. Tulving worked off very low margins. He sold random 100 oz bars at .39-.69 cents over spot and you could get the big comex bars (approx 1000 oz - 67#) for 9 cents above spot. Keep in mind that it's a $13,000 bar, but if you wanted to speculate, the low margin and free second day shipping made it attractive. He would buy it back, so on a small swing, you could still make money. Spot swung a lot in those days.

    Hannes also sold platinum, gold, and the great one - palladium (a cheaper platinum substitute)

    With minimum orders of $7K and many people ordering 50K, a lot of volume (^150 mm) went thru his warehouse (he had pics of pallets of silver).
    Unfortunately Tulving likely speculated himself, coupled with wild market swings - and filed for bankruptcy around 2014. He had judgements of ~$15 million against him and was sentenced to 30 months for wire fraud.

    Here's a remnant from the past, I probably got this from Hannes:

    jm100.jpg


    The NTR metals/Columbian connection is another nice story.
     
    • Like
    Reactions: MCHOG
    I got into this in 2009 when spot was $12.82 (Go to Kitco.com to see spot and historical charts.)
    Back then there was a lot of action in spot, rising to $49.xx before retreating. A lot of people who cashed out made some real money.

    The "premium" you pay is the difference above spot, so with spot currently about $18.50 - paying $21 is a $2.50 premium.
    Often silver rounds, 90% coins (Pre-65 silver coins with random dates), and bars, don't pay an appreciable premium on resale, so you might eat that.
    American Silver Eagles (from US mint) carry and often transfer a good part of the premium. A monster box is 500 ounces, those used to trade quite a bit back in the day.

    There was a dealer back then named Hannes Tulving. He was more of a "dealer to the dealers" with minimum orders on silver at 500 oz. You called, locked in, and sent a bank wire or cashiers check. Tulving worked off very low margins. He sold random 100 oz bars at .39-.69 cents over spot and you could get the big comex bars (approx 1000 oz - 67#) for 9 cents above spot. Keep in mind that it's a $13,000 bar, but if you wanted to speculate, the low margin and free second day shipping made it attractive. He would buy it back, so on a small swing, you could still make money. Spot swung a lot in those days.

    Hannes also sold platinum, gold, and the great one - palladium (a cheaper platinum substitute)

    With minimum orders of $7K and many people ordering 50K, a lot of volume (^150 mm) went thru his warehouse (he had pics of pallets of silver).
    Unfortunately Tulving likely speculated himself, coupled with wild market swings - and filed for bankruptcy around 2014. He had judgements of ~$15 million against him and was sentenced to 30 months for wire fraud.

    Here's a remnant from the past, I probably got this from Hannes:

    View attachment 7371036

    The NTR metals/Columbian connection is another nice story.
    Very interesting history. It sounds like another rabbit hole that I should probably avoid. I have a hard time just dabbling in something.
     
    • Like
    Reactions: Bender