Gold and silver prices are down

Billsail said:
Silver Eagles...

The proliferation of fakes will eventually make bars and rounds difficult to sell. Even legit ones.
Click to expand...

Exactly this. Only buy eagles or maple leafs from a reputable dealer. Everyone that has any silver probably has at least one of these that they can use to compare yours against.

I would never buy bars or rounds that are generic because there is no way an average guy like me can tell if it's real.

Here is a good link with some info

http://goldsilver.com/video/special-report-how-to-avoid-fake-silver-and-counterfeit-gold-products/
 
You buy silver Eagles or maple leaves because they are super easy to verify. First off, they have intricate designs. Next, any moron can basically check the diameter, thickness, and weight. And that's all you need. To fake that combination costs more than the coin is worth. Usually wieghting them and looking at design is enough, though I have seen a plastic box where they slip into a slot based in size which verifies that portion.

When I've sold Eagles they were not tested. Dealer looked at them and slapped them on a scale and divided by the number of coins, number was correct. Buying rounds is way different.
 
Silvertown on eBay has 2015 Silver Eagles at $396 / 20. Austrian 2015 Silver Philharmonic's at $390 / 20.

Apmex has Valcambi 1oz Suisse bars @ spot. Currently $1202 and dropping. Free shipping as always.
 
Last edited:
I did some more reading after I read your responses here.
I'm staying with same reputable dealer, moving from branded rounds to Silver Eagles.

As I said, I'm new at this, I've got a *lot* more money sitting on my shelves in ammo at this point than in Silver in my safe;
(not to mention firearms), I guess this is what we call "diversification of assets"...

Thank you.
 
allen-1 said:
I did some more reading after I read your responses here.
I'm staying with same reputable dealer, moving from branded rounds to Silver Eagles.

As I said, I'm new at this, I've got a *lot* more money sitting on my shelves in ammo at this point than in Silver in my safe;
(not to mention firearms), I guess this is what we call "diversification of assets"...

Thank you.
Click to expand...
My gun collection IS the precious metals part of my retirement portfolio ...along with a couple of hundred ounces of silver
 
Personally I like to buy sunshine bullion because each is stamped with a anti fraud circle that can be verified with a decoding lens. Probably not the easiest to duplicate, and the price is close to spot so win win. I always buy from reputable dealers anyway but its a bit of reassurance.
 
Gold just took a 25.00 drop

http://charts.kitco.com/KitcoCharts...=20110215_iCharts_bottom&utm_campaign=iCharts

t24_gold_en_usoz_home.gif
?random=0.679229736328125[/IMG]
 
Last edited:
Canndo said:
Silvertowne has 2015 SE's @ $389/20 on EBay. Can't post link now. Search.
Click to expand...

WhiteTiger said:
I get my silver from JM Bullion there is just Something about buying gold and silver on EBay that makes me uneasy!
Click to expand...

I just used goldsilver.com and they ONLY accept check or wire - which makes it a pain.

I would think ebay should be pretty safe to buy from - but I've never bought from this seller. Does anyone have experience with Silvertowne?
 
I've bought from Silvertowne through ebay with no problems.

I buy almost exclusively through JM Bullion, and I usually use the check option. At first it is a paper check, then after you do enough transactions with them, they approve you for electronic checks. Speeds up the process a little.

The check route is always the cheapest, but you have to be patient and willing to wait 1-2 weeks for your silver. I don't mind this, as the price is locked in. Up to two 10 ounce bars will go straight into your mailbox. More than that and it's signature required and I usually end up going to the post office to pick it up. Again, not a big deal.
 
WhiteTiger said:
I get my silver from JM Bullion there is just Something about buying gold and silver on EBay that makes me uneasy!
Click to expand...

ninemilshooter said:
I just used goldsilver.com and they ONLY accept check or wire - which makes it a pain.

I would think ebay should be pretty safe to buy from - but I've never bought from this seller. Does anyone have experience with Silvertowne?
Click to expand...
I've bought numerous times from Apmex, MCM & Sivertowne on EBay. Never once had a bad experience. The only place I buy face-to-face is Boston Bullion. My experience only.
 
Canndo said:
I've bought numerous times from Apmex, MCM & Sivertowne on EBay. Never once had a bad experience. The only place I buy face-to-face is Boston Bullion. My experience only.
Click to expand...
The only problem with Boston Bullion is you have to pay the 3% brokerage fee plus the MA sales tax.
 
I sold at a gun show in the past didnt pay any tax and infact sold 5% over spot.

I buy for the long term anyhow so if you think about it why would you want worthless FRN's anyhow...when the dollar heads to hell you are gonna wish you held onto it... Buy junk silver as well as gold and silver bullion coin!

ThePreBanMan said:
How do you guys unload this stuff when you decide it's time to cash in?
Click to expand...
 
WhiteTiger said:
The only problem with Boston Bullion is you have to pay the 3% brokerage fee plus the MA sales tax.
Click to expand...
The fee is based on what you buy. SalesTax doesn't apply if you buy over a certain amount. I believe it's $1000. I could be wrong. It's been a while since I bought through them.
 
ThePreBanMan said:
How do you guys unload this stuff when you decide it's time to cash in?
Click to expand...

The online sites like APMEX will buy it back from you.

You're supposed to pay taxes on the gains, but unless you're selling huge amounts, like 25 ounces of gold, the buyer doesn't have to report a 1099. So it's up to you to put it on your taxes, kind of like when you buy stuff in NH. :)
 
When you lose $ on deals do you offset your taxes with those figures as well ?

If not then I wouldnt worry about paying tax on profits if you really consider receiving FRN'S profit...I dont as the FRN'S dont have any intrinsic value.

Varmint said:
The online sites like APMEX will buy it back from you.

You're supposed to pay taxes on the gains, but unless you're selling huge amounts, like 25 ounces of gold, the buyer doesn't have to report a 1099. So it's up to you to put it on your taxes, kind of like when you buy stuff in NH. :)
Click to expand...
 

Similar threads

Calcium Hypocholite - local and cheap water sanitizer!
Replies
6
Views
144
240Geezer
2
Gold Question from Newbie
Replies
23
Views
930
Varmint
Varmint
FREE….seed starting and basic garden planning & questions seminar. 4/6/24 Hardwick MA
Replies
7
Views
111
mousegunguy
mousegunguy
Problem with my ExPed DownMat 7...
Replies
9
Views
290
Andy in NH
Andy in NH
US Senators Are Being Issued Satellite Phones in Preparation for a 'Disruptive Event'
Replies
11
Views
1K
GM-GUY
GM-GUY
Back
Top Bottom