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.
I think – either form of silver or gold is fine. I personally do not like bars because it is hard to verify whether it is real and not fake. So many manufacturers make those bars and there are so many more of those who will fake them. If you buy bullion, – buy rounds – they have known size/diameter and it is easy to check their weight, so you may figure their density and make sure it is gold or silver or what have you. I am collecting coins, so for me it is easier to keep silver in coins. There are several advantages. 1. Silver coins are relatively cheap, therefore it is unlikely someone will waste time to fake them; 2. Numismats will find a lot of "criteria" which are specific for certain coin and will not be in fake. 3. It is liquid – bars will take more money to buy and if you must sell it – it is easier to find the person who will pay for several coins than for one bar. So it is really up to you. 4. The numismatic value of your coins will rarely go down just as much as silver may. Historically silver once fell from 80 to 2, but good coins are always good coins. Howerver they should be in good shape, like AU-55 or hight to be attractive for the buyer and to bring higher primium. Downside – silver take volume and perhaps not as easy to hide or control and gold or platinuim.
With Gold – generally same rule, except it will cost you more. Unlike silver and platinum – gold is not used in industry as much, but still can be very attractive investment. It was for couple of thousand years.
Regarding whether or not you are late for the gold and silver party – hard to say. I think if you have a very long term goal and do not want to invest more than 10-20% of whta you have in them, you will be fine. Last time gold bubble 1980 – gold went form 60 to 800 and then never went to 60, but instead stayed around 300 and with minor fluctuation rached what it is now. So, generally it took 30 years for those people who jumped in 1980 to double their money. For those people who permanently invested from 60 to 800 and continued after it dropped to 300, they have perhaps 300-400% profit if they sell now. You never know when is the ceiling and when is the bottom. Hope this helps.
Don’t you think you are a little late to the gold and silver party? Find a new investment plan.
Every people get up at the end one of you also. Gold is really a high level and you want to enter it. It is too late wait for some time.
It is all up to you! I buy coins from Lear Capital
Coupon Code: 99D3A
I would stick to silver coins because they are know and have a marked what they are. 90% silver is ok but 0.999 or 0.9999 is better because it is pure silver.
Since you are looking for large amounts to avoid a premium consider 2 oz, 5 oz, 10 oz, 1/2 kilo, 1 kilo, and 10 kilo coins from Australia http://www.squidoo.com/the-kookaburra-silver-coins-of-perth , http://www.squidoo.com/silver-and-gold-koala-coins, and http://www.squidoo.com/perth-mint-coins. for more info.
5 oz is popular by a few mints, consider the turtle http://www.squidoo.com/the-silver-bullion-turtle-coin , the America the Beautiful Five Ounce Silver Uncirculated Coins http://www.squidoo.com/america-the-beautiful-five-ounce-silver-uncirculated-coins ,
The other option is silver art bars and rounds from Disney, Coca-Cola (Coke), and more. http://www.squidoo.com/silver-art-bars-and-rounds-from-disney-coca-cola-coke-and-more-
but buying bullion made by mints is a good why to go http://www.squidoo.com/bullion-coins-in-gold-and-silver and you can even start a collection of coins like lunar, kolas, kookaburras, or America the Beautiful and have a set this will increase value if sold as a set.