Buying Silver

[Thor363]

Thanks everybody for your imput!

Emerald

This was great info! thx

Emerald

Just bought more from Scottsdale Silver, and after a certain small amount of product, the shipping became free. They're Silver is well known as well. Not paper silver that's held for you. Physical silver.

I don't trust anyone to hold silver and give me a paper showing my ownership... sounds too much like... ummm.... fiat currency... how do you know they actually are in possession of your silver... really?

[LettheRVbegin]

Just bought more from Scottsdale Silver, and after a certain small amount of product, the shipping became free. They're Silver is well known as well. Not paper silver that's held for you. Physical silver.

I don't trust anyone to hold silver and give me a paper showing my ownership... sounds too much like... ummm.... fiat currency... how do you know they actually are in possession of your silver... really?

that is the exact reason why I also prefer physical silver rather than paper silver. It makes you feel better too when you see those shiny silver right next to you just ready to sky rocket in the future!

[Miningstocksguy]

Hello Eagle,

Those are great suggestions! I have been investing in silver for awhile now and am confident as you are that it will continue to rise in value since it is in short supply and has been been suppressed for so long. Have you considered converting some of your dinar directly to silver? Ali at Dinar Trade will convert dinar to gold, silver, foreign currency, etc. I am curious why you would convert dinar to cash and then buy silver, verses converting some dinar to cash and some to silver.

I have to admit I do not understand the tax implications of dinar>cash>silver verses dinar>silver>cash down the road. The big question here is if you hold the silver for more than a year after converting the dinar to silver, if it is just subject to capital gains taxes verses ordinary income (35% tax rate) like our dinar to us dollar transaction will be. Since the Bush tax cuts have been extended until 2012 it seems we could convert dinar to silver in 2011, hold it for a year, and then sell some and just pay 15% maximum capital gains tax.

Any thoughts on this? Thanks for your wisdom!

[Deathmonkey]

Just bought more from Scottsdale Silver, and after a certain small amount of product, the shipping became free. They're Silver is well known as well. Not paper silver that's held for you. Physical silver.

I don't trust anyone to hold silver and give me a paper showing my ownership... sounds too much like... ummm.... fiat currency... how do you know they actually are in possession of your silver... really?

Holy crap they are expensive!

I run a bullion and coin company (est. 1969), and I am not promoting the business in any way. I just want to share knowledge of true pricing.

I really recommend going into a local coin shop to do bullion purchases. Looking at current prices, Scottsdale Silver is charging $1495 for a 1 oz Pamp Suisse. That is $120 over current spot ($1375)!!!!! Most coin and bullion shops are running about $35 over for that bar. Their generic 10oz silver bar is averaging 33.69 an ounce, based on $30.84 silver. Realistically, you should be paying at most $1-$1.50 over spot per ounce.

All I am saying is try local before going with these companies that are through the roof!

[hardmoney1]

Holy crap they are expensive!

I run a bullion and coin company (est. 1969), and I am not promoting the business in any way. I just want to share knowledge of true pricing.

I really recommend going into a local coin shop to do bullion purchases. Looking at current prices, Scottsdale Silver is charging $1495 for a 1 oz Pamp Suisse. That is $120 over current spot ($1375)!!!!! Most coin and bullion shops are running about $35 over for that bar. Their generic 10oz silver bar is averaging 33.69 an ounce, based on $30.84 silver. Realistically, you should be paying at most $1-$1.50 over spot per ounce.

All I am saying is try local before going with these companies that are through the roof!

I've never been to Scottsdale, but the National Inflation Association has done reviews of the larger bullion dealers, rated on pricing, selection, shipping, and overall customer experience.

You can find that here http://inflation.us/reviews/,

I use each of the major dealers as buy comparisons to LOCAL dealers, and USUALLY send out my bullion to some of the larger ones, due to the discounts that local dealers usually charge to you on the BUY spread. (I have never found a local dealer able or willing to give me what the larger dealers are giving, when I AM SELLING).

Deathmonkey- where are you located?

[2sisters]

Deathmonkey- where are you located?

[Deathmonkey]

I've never been to Scottsdale, but the National Inflation Association has done reviews of the larger bullion dealers, rated on pricing, selection, shipping, and overall customer experience.

You can find that here http://inflation.us/reviews/,

I use each of the major dealers as buy comparisons to LOCAL dealers, and USUALLY send out my bullion to some of the larger ones, due to the discounts that local dealers usually charge to you on the BUY spread. (I have never found a local dealer able or willing to give me what the larger dealers are giving, when I AM SELLING).

Deathmonkey- where are you located?

We are in South Florida, but do business nationwide, mainly with licensed dealers. GOOD coin and bullion shops will use services like CoinNet and CCE, which link dealers nationwide. This allows prices to be up to date, and also allows them to get you goods at the lowest prices possible. However, it is up to hose dealers if they pass on the savings to you.

[2sisters]

Tried to PM you, option wasn't available. Do you have a website or can you disclose your location? I live just north of Tampa

[Deathmonkey]

Tried to PM you, option wasn't available. Do you have a website or can you disclose your location? I live just north of Tampa

I am not sure why my PM doesn't exist, I verified in settings that it was not blocked.

We are in Palm Beach County. I don't want to give out our web site, because it is frowned upon on this site, which I enjoy for dinar news. I don't want to be labeled a gold pumper. With that said, I will attach my email address, and if you have any questions about pricing and dealers in your area, I will help however possible.

[Thor363]

Holy crap they are expensive!

I run a bullion and coin company (est. 1969), and I am not promoting the business in any way. I just want to share knowledge of true pricing.

I really recommend going into a local coin shop to do bullion purchases. Looking at current prices, Scottsdale Silver is charging $1495 for a 1 oz Pamp Suisse. That is $120 over current spot ($1375)!!!!! Most coin and bullion shops are running about $35 over for that bar. Their generic 10oz silver bar is averaging 33.69 an ounce, based on $30.84 silver. Realistically, you should be paying at most $1-$1.50 over spot per ounce.

All I am saying is try local before going with these companies that are through the roof!

Who's buying gold??? Surely not me!

[detroitjazzman]

Hi,

I am thinking I might do some silver investing, does anybody have a good source that

they would share?

Thanks,

Emerald

There are a couple of things that you have to consider...Do you want physical possession of silver/gold? How much gold/silver? with physical possession you have to co nsider how it will be stored.. Some often overlooked sources of silver would be coin silver....most coins minted prior to 1965 and often found on ebay by weight at somewhat afforadable prices, and as with coins, it has a face value. My personal opinion, silver represents an upside potential much greater than gold and with silver trading over $30 this week I believe its just the tip of the iceberg!

Edited February 16, 2011 by detroitjazzman

[Deathmonkey]

There are a couple of things that you have to consider...Do you want physical possession of silver/gold? How much gold/silver? with physical possession you have to co nsider how it will be stored.. Some often overlooked sources of silver would be coin silver....most coins minted prior to 1965 and often found on ebay by weight at somewhat afforadable prices, and as with coins, it has a face value. My personal opinion, silver represents an upside potential much greater than gold and with silver trading over $30 this week I believe its just the tip of the iceberg!

1964 and before really should be priced by face value, not weight. The ONLY time it should be done by weight is when they are damaged drastically. Smoothed out or holes drilled through are instantly done by weight.

Around 30.50 spot, an SELLING (if you were selling) price is 17-20 times the face value. I have heard about local "metals" buyers offering 7 times the face value. Greed is rampant in this business, so always do your research first.

[hardmoney1]

1964 and before really should be priced by face value, not weight. The ONLY time it should be done by weight is when they are damaged drastically. Smoothed out or holes drilled through are instantly done by weight.

Around 30.50 spot, an SELLING (if you were selling) price is 17-20 times the face value. I have heard about local "metals" buyers offering 7 times the face value. Greed is rampant in this business, so always do your research first.

I can confirm that, just make sure you call around if you are selling.

I was at a jewelry store and heard a customer sell their barber coin silver for 14 times face value, when the bullion shop I just left was quoting 19 times face value. It will be very similar in the Dinar, when cashing in. You will only get what you are willing to sell at. Some people are more desperate and less informed, and will accept just about anything.

Be informed and not desperate!

[The Eagle]

For some time now I've been buying silver bullion as the price has climbed from $15/oz to today's high of $32.50/oz. Every time it takes a jump many think this is it - it can't go any higher. I'm here to tell you that silver is a $400/oz metal. Here's just some of the reasons this will be so. First, unlike gold, silver is a mined and processed metal. You need to dig it up and smelt it our of the ore just to start. Today, we have used virtually all the silver that exists in pure form. China and Wall Street have been keeping the price of silver artificially low for years by going to the ,market and buying silver at market only to dump it at a loss to drive the base price down - remember China uses silver in everything them make for us. Second, there's a nasty little thing called ETF's. Today, there is 10 times more silver in EFT's than there is actual silver. If there is a run on silver (and it appears to be happening now) then the crap will hit the fan. With no available silver to buy in order to short the market, the price will soar to over $400, along with gold hitting $4000 or more. Silver is the safe play of the century and it plays a big part in my personal Dinar strategy.

When the RV occurs we will probably be sitting on a bunch of cash. It's important to take the cash on the first day of the NEXT quarter (April 1, July 1, October 1) to allow us to hold 100% of the funds as long as possible. I plan to take a few hundred K for personal needs and put the remaining funds into silver bullion through Monex (or any other that stores it for you). Remember, $10 million in US dollars equals 8.9 tons of silver (17,800 Lbs or 284,800 Oz - much more than you can store). Since our 35% is due to the IRS on the first day after we convert Dinars to Dollars we want to have all the funds in silver until we have to sell off enough to pay the tax man. Another note of interest - when buying gold and silver, any foreign gold or silver (Krugerrand, etc) triggers a 1099 event whereas any silver or gold bullion made in the good old USA is a NON-1099 EVENT. Uncle Sam leaves it up to you to report your gains when selling US Bullion (Eagles, etc). Third, silver has almost always been priced at 1/16th the price of gold. At today's gold price of $1,375, silver should be priced at $86/Oz right now. This adjustment is occurring now - just watch the metals prices on www.monex.com.

I plan to place most of my Dinar blessings in silver. Where else (other than with our Dinars) can we invest money and see it multiply 5-10 times and be 100% secure all the way? SILVER.

[MACSPACS]

I love your thinking!

i was not even thinking of going there, but know that is definitely my chosen path........I am a coin collector now and do currently hold a fair amount of coins and some bullion.....that will all change real soon!

thank you...

[tgar]

Try silver greetings.com. Lots of luck. Terry

[thatoneguy]

I like this one... Sooo much opportunity to rake in silver. Check out silversnowball.com/3702 and enjoy the read, sign up, and let the Cha Ching ring! Hope this helps.

[VIZIOIRAQI]

This should help you out alot http://www.wealthwire.com/aqx_p/24001?gclid=CPTQzs2vuKcCFQHs7QodmEf6Ag