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Author Topic: Where to buy precious metals  (Read 11173 times)

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Offline Cryptinox

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Where to buy precious metals
« on: January 22, 2024, 09:13:51 PM »
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    • I would like to get into precious metals as I currently don't have any real expenses in my life yet and I have 10k saved. I am looking for sites that reward first time buyers or something similar.
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    Offline FarmerWife

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    Re: Where to buy precious metals
    « Reply #1 on: January 22, 2024, 10:02:48 PM »
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    • silvergoldbull.ca is reputable, I bought from them twice years ago.
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    Offline Mark 79

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    Re: Where to buy precious metals
    « Reply #2 on: January 23, 2024, 01:04:09 AM »
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    • I recommend face-to-face transactions with a trustworthy local bullion coin dealer.
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    Offline HeavyHanded

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    Re: Where to buy precious metals
    « Reply #3 on: January 23, 2024, 03:53:03 AM »
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    Offline Quo vadis Domine

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    Re: Where to buy precious metals
    « Reply #4 on: January 23, 2024, 05:54:01 AM »
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    • I sent you a PM. Please, for your own sake, don’t broadcast how much money you have. 

    Matthew, can you edit his post?
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    For what doth it profit a man, if he gain the whole world, and suffer the loss of his own soul? Or what exchange shall a man give for his soul?

    Offline Yeti

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    Re: Where to buy precious metals
    « Reply #5 on: January 23, 2024, 08:40:33 AM »
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    • Quote from: Mark 79 on January 23, 2024, 01:04:09 AM
    I recommend face-to-face transactions with a trustworthy local bullion coin dealer.
    .

    He will pay a lot more for the same thing buying from a local dealer than buying from a website. Those small shops have a lot more overheard and do a lot fewer sales, so the markup is going to be much more.
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    Offline Merry

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    Re: Where to buy precious metals
    « Reply #6 on: January 23, 2024, 08:41:57 AM »
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    • Ron Paul recommends Birch Gold.
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    If any one saith that true and natural water is not of necessity for baptism, and on that account wrests to some sort of metaphor those words of Our Lord Jesus Christ, "Unless a man be born again of water and the Holy Ghost...,"  Let Him Be Anathama.  -COUNCIL OF TRENT Sess VII Canon II “On Baptism"

    Offline Gloria Tibi Domine

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    Re: Where to buy precious metals
    « Reply #7 on: January 23, 2024, 09:33:04 AM »
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    Offline Mark 79

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    Re: Where to buy precious metals
    « Reply #8 on: January 23, 2024, 12:46:07 PM »
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    • Quote from: Yeti on January 23, 2024, 08:40:33 AM
    .

    He will pay a lot more for the same thing buying from a local dealer than buying from a website. Those small shops have a lot more overheard and do a lot fewer sales, so the markup is going to be much more.
    A website will charge a fixed and immutable premium/commission, typically about 8%+.

    My personal relationship with my local dealer (in a low overhead part of town) finds him charging me about a 3% premium.
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    Offline Mark 79

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    Re: Where to buy precious metals
    « Reply #9 on: January 23, 2024, 12:57:17 PM »
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    • Quote from: Gloria Tibi Domine on January 23, 2024, 09:33:04 AM
    Highly recommended.


    Junk Silver Coins (90% Silver) | Silver Dollars | APMEX
    I went to this website and the very first offer on the page is for $5 face value of 90% ("junk") silver dimes at a price of $89.59.

    At the spot price of silver right this moment, $22.42/troy oz. on kitco, $5 face value in dimes should cost $81.

    That means you are paying a 10.6% premium even before you pay the additional shipping and insurance costs!
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    Offline Bonaventure

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    Re: Where to buy precious metals
    « Reply #10 on: January 23, 2024, 02:24:56 PM »
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    • In the past, I have used https://www.silver.com/ and https://www.jmbullion.com/

    No complaints.  Granted, my last purchase from either was nearly seven years ago, so maybe things have since changed. At that time, for Ag Eagles, was paying a premium of $2.50 over spot.  Right now, it looks to be about $6 over spot for same. 

    YMMV
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    Offline WorldsAway

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    Re: Where to buy precious metals
    « Reply #11 on: January 23, 2024, 02:51:03 PM »
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    • Never bought/sold here but I've checked it out before: https://www.reddit.com/r/Pmsforsale/

    Each user has a buy/sell count next to their username, so you can see if they are an active, reputable seller
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    If you had been of the world, the world would love its own: but because you are not of the world, but I have chosen you out of the world, therefore the world hateth you [John 15:19]

    Offline Mark 79

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    Re: Where to buy precious metals
    « Reply #12 on: January 23, 2024, 04:22:58 PM »
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    • Quote from: Bonaventure on January 23, 2024, 02:24:56 PM
    …Right now, it looks to be about $6 over spot for same.

    YMMV

    Ouch!
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    Offline AnthonyPadua

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    Re: Where to buy precious metals
    « Reply #13 on: January 23, 2024, 05:10:39 PM »
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    • Quote from: Mark 79 on January 23, 2024, 12:57:17 PM
    I went to this website and the very first offer on the page is for $5 face value of 90% ("junk") silver dimes at a price of $89.59.

    At the spot price of silver right this moment, $22.42/troy oz. on kitco, $5 face value in dimes should cost $81.

    That means you are paying a 10.6% premium even before you pay the additional shipping and insurance costs!
    Premiums is why I do not think metals are a good investment. Sure it could be, but the premium alone automatically puts you in a loss.
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    Offline Mark 79

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    Re: Where to buy precious metals
    « Reply #14 on: January 23, 2024, 05:13:48 PM »
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    • Quote from: AnthonyPadua on January 23, 2024, 05:10:39 PM
    Premiums is why I do not think metals are a good investment. Sure it could be, but the premium alone automatically puts you in a loss.
    I look at PMs (including brass and lead) as capital preservation in the long haul.

    I don't try to be a "day trader" of PMs or PM paper.

    Even if one accepted a 10% premium loss, it is re-couped over time.
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