I have several questions regarding investing in silver and gold.?
Question by : I have several questions regarding investing in silver and gold.?
Me and my family recently got into investing in silver, and plan on investing in gold when funds allow. We have 4 American Silver Eagle coins, and plan on buying more, and I have enough money for a 10 ounce bar of silver. My investment intentions are buying silver and gold to keep as insurance for whatever may happen. I'm not worried about an apocalypse as much as my own well being (my main reason for investing), but also wanting silver if I'm left homeless, the dollar dies, the American system collapses, profiting at a later date when silver and gold are higher than today, etc. so I mostly plan on keeping the silver. My questions are:
I know there are 90% silver coins (junk silver) and people recommend you buy those for things like survival, but the inconvenience of the coins not having the silver printed or being exactly 1 ounce bothers me. Should I consider buying these coins?
I plan on moving up from bullion coins to bullion bars, and I have the cash for a 10 ounce bar of silver as of right now. Should I bite the bar, and continue on buying bars as well as coins, or should I buy bars whenever I can to avoid premiums on smaller 1 ounce coins (such as the American Eagles I have, even though I have acquired them for almost exactly spot on prices)?
My current plan is buying bullion silver coins (mainly American silver eagles, unless nice suggestions are given) until these coins are enough for gold American eagle coins then enough for gold bars (mainly 10 and 100 ounces bars). Is this a smart choice, or should I work my way to gold bars by buying silver bars exclusively or a combination of silver bars/coins?
Basically I am asking how should I move up to 10 ounce and 100 ounce (maybe even 1000 ounce) gold bar and avoiding premiums. Should I get silver coins/bars exclusively, gold coins exclusively, or through a combination of these 3 options?
All help is appreciated.
I don't know if this was clear at first, but this is a (very) long term investment. I don't really expect to sell my gold or silver unless profits are amazing (like an earlier post mentioned, it would take many decades). My main reason for investing is security, and my ultimate goal is to store gold and silver bars. However, at the light of what a poster said, I'm considering collecting coins more now. My concerns with junk silver have not been addressed, but all help is appreciated and welcomed.
Best answer:
Answer by JoeyV
Don't you think you are a little late to the gold and silver party? Find a new investment plan.
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* 2012* AMERICAN EAGLE,1ozt 999 FINE SILVER*GEM**BU*IN PLASTIC FLIP.**IN STOCK**
 | US $43.00 (20 Bids) End Date: Monday Feb-06-2012 9:59:06 PST Bid now | Add to watch list |
What’s the best long term storage method for American Eagle 1 ounce gold coins?
Question by : What's the best long term storage method for American Eagle 1 ounce gold coins?
I have a few American Eagle 1 ounce coins in regular cardboard flips (how it was shipped to me). I'd like to put a little effort into storage of these coins. Should I switch it to air tights? Snap tights? Keep it in the cardboard flip?
Same for Silver American Eagles? What about silver bars?
Best answer:
Answer by Common Sense
They're metal. How they're stored really isn't important as long as they're safe.
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2001 W Gem Proof American Silver Eagle
 | US $64.99 (0 Bid) End Date: Monday Feb-06-2012 11:13:33 PST Bid now | Add to watch list |
Too good to be true? Silver American Eagle – $10 each, Gold Eagle (1/10 oz) – $63 each?
Question by dude, where's my avatar: Too good to be true? Silver American Eagle - each, Gold Eagle (1/10 oz) - each?
I recently found an ad in a finanaical magazine advertising the 2006 Gem BU (MS65) NGC-cert Silver American Eagle for $ 10 each (without NGC casing) and similar Gold Eagle (1/10 oz) selling for $ 63 each. Even the spots for silver and gold are more than those prices - too good to be true? What do you think?
Best answer:
Answer by JM
Since the ad was in a magazine, the time the ad was submitted is at least 1-2 months ago. At that time gold and silver were trading lower than they are today, so those prices were probably above spot at that time. Maybe there's some small print in the ad to cover themselves for changes in spot price.
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2007-W S$1 Silver American Eagle Proof PCGS PR70DCAM
 | US $86.00 (2 Bids) End Date: Monday Feb-06-2012 10:46:17 PST Bid now | Add to watch list |
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