Investing In Silver

[Jestik]

Let me start by saying that I'm not looking to sell the house and buy silver, nor am I looking to get rich in 10 days using silver.

About three months ago, I decided to get into the silver game. I searched and searched and searched, and eventually bought me twenty (20) 1 troy oz .999 fine silver ingots made by Ohio Precious Metals off of jmbullion.com. I paid exactly $17 for each ingot/troy ounce, including shipping, and I weight each ingot and they were all in spec.

I'm now entertaining the idea of purchasing more silver, and now that I am back on OSA, I'd figured I'd throw this post out there and see who all invests in silver, where you buy it from, what your cut-off per ounce price is, where you sell it, and any advice that you may have.

I'd like for my stack to someday get to one-hundred (100) troy ounces, and I am interested in the silver only, not the commemorative/coolness factor of the silver, i.e. I'm not going to pay $5 more per ounce just because it has a picture of a Koala Bear on it.

Are there any silver-stackers out there?

 

[Coded-Dude]

I have used golden eagle before, and it looks like their prices are a little better straight up(although I didn't look at shipping differences, I think GE is $5). If I ever buy online again I'd probably stick with GE unless I wanted to buy the silver bullets that JM offers(which can also be found elsewhere).

1/oz bar comparison
http://www.goldeneaglecoin.com/item/silvertowne-1-oz-silver-bar-_-retro-prospector-design

http://www.jmbullion.com/1-oz-silvertowne-retro-prospector-silver-bar/

 

[Jestik]

I have used golden eagle before, and it looks like their prices are a little better straight up(although I didn't look at shipping differences, I think GE is $5). If I ever buy online again I'd probably stick with GE unless I wanted to buy the silver bullets that JM offers(which can also be found elsewhere).

1/oz bar comparison
http://www.goldeneaglecoin.com/item/silvertowne-1-oz-silver-bar-_-retro-prospector-design

http://www.jmbullion.com/1-oz-silvertowne-retro-prospector-silver-bar/

This is why I posted. I had not heard of Golden Eagle & Coin. I'll have to check their shipping rates.

 

[Jestik]

Just saw this:

http://www.jmbullion.com/1-oz-sunshine-buffalo-silver-round/

$16.76 per troy ounce, shipped, if you get over $100.00 worth and pay by check.

 

[Gabriel42]

AMPEX is local, tax-free, and has free shipping for orders over $99. Not sure if they still do local business out the front door.

 

[Commander Keen]

 

[Jestik]

AMPEX is local, tax-free, and has free shipping for orders over $99. Not sure if they still do local business out the front door.

I had no idea APMEX was located in Oklahoma City. Man..goes to show.

 

[Jestik]

Just got off of the phone with APMEX. They are $.95 more expensive, per troy ounce, than JM Bullion right now, and they do not offer face-to-face sales, though you can order and pay via phone or website, and then pick up locally. I did not ask about taxes since I did not purchase anything from them.

 

[Coded-Dude]

I didn't either. A quick google maps search shows they "had" a store in Edmond but is listed as permanently closed...(online only now)?

EDIT - NVM, I see the post above this answers all that.

 

[Jestik]

Crazy. Within 30 minutes of making this post, I learned something new about APMEX (not necessarily a place to buy from, but definitely a place to sell to) and doubled by silver stack by ordering another 20 troy ounces from JM Bullion at more than $.25 per ounce than my standard going rate.