Hi Everyone,
Welcome to the Online auction for buying Silver Bullion...
Here's a quick heads up. Don't bother with Mint quality collector coins, stick to .999 pure Silver, Unless of course you really like to collect coins for the sake of collecting coins. (I do have a few coins that are just really cool to have). The point of this site is to discuss investing in bullion.
Why? .999 Silver Bullion has an intrinsic value based on the strike price. It is much easier to trade with or sell if the world currency markets become unstable. Collector coins have value based on the strike price and perceived rarity. Perceived rarity limits your market for resale.
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US $35.26
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Here's a few tips I've learned
On May 1st 2009 I bought 1 troy ounce of Silver for $11.52 USD + shipping of 2.50 on eBay. Today 1 Troy Ounce is selling on eBay for about $20 + shipping. This is an increase of over 60% in just over 5 months... Can I hear you say "wow"... or a "your kidding"?
According to many of the informed investors I follow (not the guys on the news who only talk about investments, I'm talking guys who actually put their money on the line) the run on Silver hasn't even begun yet.
So the big question I had when I first started investing in Silver was, "Where is the best place to buy it?"
Is eBay OK? I'll cover this in much more detail in the coming weeks, but for now, I won't leave you hanging.... I have spent hundreds of hours reading and studying Silver and researching where to buy it at the fairest prices.
I started on eBay just buying 1 Troy Ounce at a time. You can pick up a good deal occasionally and for me it was a logical place to start as I didn't have a lot of cash to begin with. The one thing that I was sure of is this,,, I needed to start preparing a safety net for my family.
Silver was all I could afford and at least I was taking steps to protect my family's future. I know some of you may be thinking why only 1 Ounce coins or bars? For me I just figured that the smaller trade units will be easier to trade or sell when the time comes to sell. Ebay can be a great way to start as long as you keep four factors in mind.
1.Stick to at least 99.9% pure bullion, don't go for collectors coins etc. Why? because they often have an inflated value based on what a collector who is chasing that specific coin is willing to pay for it. In the real world you need to buy silver that you could trade with anybody anywhere.
2. Check the spot price, and ad about $1.90 as this is generally the "strike price" of a 1 Troy ounce coin.
3. Factor in the postage/shipping costs. You may allow between $1 to $1.30 per ounce above the "strike price" for shipping. Why? when you get to the point of buying 20 coin rolls it costs about that much in shipping per coin anyway.
4. Do Not Become Emotionally Involved in the transaction. It is Silver and the numbers are the only thing that determines a good deal.
