Official ODT Silver Thread

[Patronus]

UH OH! I think I need a few of THESE:

http://www.providentmetals.com/molon-labe-1-oz-silver-rounds.html

 

[canoecanoe]

I just put what I want to order in my carts at both JM and Provident and toggle back and forth to compare. Usually JM is cheaper on gold and Silver Eagles and Provident on generic silver rounds,

 

[Patronus]

I just put what I want to order in my carts at both JM and Provident and toggle back and forth to compare. Usually JM is cheaper on gold and Silver Eagles and Provident on generic silver rounds,

Yeah, depending on brand Provident does look to be much cheaper on rounds. My problem is I have a compulsion for the government authenticated coins. They just feel more verifiable to me than a round that a second buyer may doubt the authenticity of. A friend of mine just passed along that he had been notified that some the Pamp Suisse silver bars have been counterfeited recently. A significant concern for me with the silver is SHTF. If there is a breakdown of civilization then I want my silver to be of as clear providence as possible. US Currency silver coin is, in my estimation, a great medium of currency when fiat currency becomes meaningless. Pure bullion coin of clear provenance is next, then bullion rounds of unverifiable origin.

Now if there is a stock market issue and metals prices soar, then bullion is bullion. And if nothing happens at all, rounds maintain the market value but coins, such as Eagles, slowly appreciate as collectable coinage.

A couple of things to remember though:

1. Silver is a horrible short term investment and only a long term investment in case of SHTF or if you are prepared to follow the market and sell in a timely manner. Seventeen years ago silver was averaging six dollars an ounce. Now it's averaging 16. Not a great rate of return for 17 years. And in February of 1917, silver was actually $.30 higher. and;

2. When buying silver always, ALWAYS watch your price breaks. The sites tend to list the rounds by ascending prices but a round can be listed as "As low as" $16.72 but still cost you more per round than one listed as "Any Quantity" $16.77 unless you order enough to hit that lowest price point. I do not. I usually order just enough to top the minimum order requirement or to get the free shipping(Free shipping is VERY important).

 

[letusbuyyourcar]

I will pay 20 bucks for each canadian leaf or american eagles (or trade value on guns)

Or for private mints ill drop a.dollar to a dollar fifty over spot in trade or cash

Holler, and i.prefer trading guns or ammo

I'm curious as to why you pay less for private mint pieces. But then I'm new in the silver game.

 

[Patronus]

Government coins are backed by governments and have actual face values. Not that the face value matters. The US Silver Eagle has a face value of one dollar(lol). Government minted coins always sell for a premium though. One reason I prefer the Austrian Philharmonic. It's a government minted coin that sells for a lower premium than most of the others.

 

[canoecanoe]

Silver Eagles are US currency and are backed by the government. As Patronus stated, they have the potential for collectibility value. Silver rounds are simply silver bullion. They are both .999 pure silver, so the quality of the silver is equal. I include both in my "hoard".

Silver Eagles are just more desirable and command a premium. If you just want to accumulate silver bullion, generic rounds are a good way to go. As Patronus also said, in an apocalyptic situation, silver is silver as long as the party you are selling to/bartering to accepts the validity of your bullion.

 

[canoecanoe]

Plus there is just something about the look and feel of bright silver coins. It feels like true wealth.

On another note, never handle bright uncirculated silver with your bare hands. The salts and oils from your skin will cause them to tarnish. Buy some of the white cotton gloves. Also keep them in airtight containers or they will tarnish or "tone" Toning can look cool (an iridescent rainbow appearance) but it detracts from the value of the coin. Also never clean any silver coin as this lowers the value.

The generic silver round Morgans at provident at 16.77 for any quantity are a good deal right now.

 

[Patronus]

Oh man it is SOOOO hard not to handle them. I keep one or two around just to play with sometimes. The rest all go into coin capsules as soon as I get them.

 

[chucklenut]

I'm curious as to why you pay less for private mint pieces. But then I'm new in the silver game.

there is a confidence with the government mints aside from private mints. its harder to "fake" those in other words

also they carry an actual dollar value amount, albeit significantly lower than what they sell for

 

[letusbuyyourcar]

That's kinda what I figured. When I first started following the silver market late last year I mostly looked at Eagles and Maple Leaves. But then I noticed that they were always about $2.00 higher than say the Silvetown rounds. I assumed that was due to them having coin collector value.
The few I have been able to buy have been 1 oz rounds. I've looked at like 5 oz bars but the price is too much for me now and it seemed like if I needed to possibly use them as currency after an economic meltdown the 1 oz pieces would be easier to use than the bars. Right now I'm looking at some half oz Silvetown rounds on eBay.I figured it woulds hurt to have a few halves.