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Old 02-03-2013, 07:29 PM   #1 (permalink)
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Default Best place to buy Silver online?

Simple what site sells silver for the least above spot? Silver eagles, Bars, etc.

Or would it be cheaper to buy from a local place.
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Old 02-03-2013, 07:59 PM   #2 (permalink)
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I prefer local, you can pick what you want and less chance of problems( I bought 3 10 oz. bars on ebay a few years ago and never bothered to test their weight and when I sold them they had several plugs of lead in them!)
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Old 02-03-2013, 08:20 PM   #3 (permalink)
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I buy mine from reputable dealers on ebay and have never had a problem.
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Old 02-03-2013, 08:23 PM   #4 (permalink)
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Ive never bought from actual shops. Do jewelry stores sell silver bars? Or do I need to go to a pawn shop. All the coin stores have pretty much gone out of business in my area.
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Old 02-03-2013, 08:29 PM   #5 (permalink)
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I like Monex personally.. they have been best to deal with other than locals for me
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Old 02-03-2013, 08:29 PM   #6 (permalink)
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www.fakea$$silver.net would be my guess
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Old 02-03-2013, 08:57 PM   #7 (permalink)
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I get most of mine from here.



Silver, Silver Bar, Silver Bars, Silver Bullion, Gold and More - APMEX.com
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Old 02-04-2013, 12:32 AM   #8 (permalink)
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If anything, avoid eBay! The big sellers on there, like MCM, Apmex, etc. are fine. Normal accounts listing bars, rounds and the rest.... you're asking to get ripped off. Hit up the Kitco forums and you'll see what happens. You'll see somebody bragging they saved 2 bucks on spot and then a month later they're filing 'item not as described' reports because they're missing part(s) of their purchase, fake rounds.... Just pay the freaking dollar and know it's legit!

If you have local coin shops you can look up, hit those up first. If you are indeed "in the burgh" there is no sales tax on 90% coinage in PA. If you can get half dollars near or at melt, that's where to be right now. Also, Morgan or Peace dollars, but those premiums are getting very high in most instances right now. Generic rounds at $1 to $2 over spot are decent. Eagles should be around $3 over spot. If you can find 'em for less, great. If they're much more than that, check out the next place on the list. Good luck!
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Old 02-04-2013, 01:09 AM   #9 (permalink)
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Thanks for the help! Yeah ive bought some stuff online but not any more. I want to buy alot of weight and wouldnt trust buying it off of some random person. I am going to call a few places this week and check their prices based on spot and the place that is the cheapest is probably where I will end up going. I am looking to buy some scrap 90% coins, silver eagles and some 10oz bars so hopefully I find a place that has some of everything around the prices you mentioned. Those are pretty much the exact numbers that we in my head.
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Old 02-04-2013, 01:29 AM   #10 (permalink)
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Quote:
Originally Posted by nabzy28 View Post
If anything, avoid eBay! The big sellers on there, like MCM, Apmex, etc. are fine. Normal accounts listing bars, rounds and the rest.... you're asking to get ripped off. Hit up the Kitco forums and you'll see what happens. You'll see somebody bragging they saved 2 bucks on spot and then a month later they're filing 'item not as described' reports because they're missing part(s) of their purchase, fake rounds.... Just pay the freaking dollar and know it's legit!

If you have local coin shops you can look up, hit those up first. If you are indeed "in the burgh" there is no sales tax on 90% coinage in PA. If you can get half dollars near or at melt, that's where to be right now. Also, Morgan or Peace dollars, but those premiums are getting very high in most instances right now. Generic rounds at $1 to $2 over spot are decent. Eagles should be around $3 over spot. If you can find 'em for less, great. If they're much more than that, check out the next place on the list. Good luck!
There shouldn't be sales tax on coinage, period, that's federal law.
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Old 02-04-2013, 02:31 AM   #11 (permalink)
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Quote:
Originally Posted by HBMC View Post
There shouldn't be sales tax on coinage, period, that's federal law.
Circulated coins being used as face value coins.
The law does not apply to collectible coins. Selling coins as collectibles is part of the law apply to capitol gains and the seller must pay tax,therefore the buyer can be asked to pay tax

OP
You are not going to find coins under spot or even at spot.
Cull or not cull,the price will have a collectible value applied.
I get 2.50 per Roosevelt dime locally if it is shiny or dull
Having silver is not an issue, this is stuff in the drawer at my desk


The issue is what you can pay since what you want to pay is rarely a mark sellers will hit.
Most shops are charging 4-5.00 over spot.
If you want rounds, let me know how many and I can get you a price.
If you want coins, I can do the same but scrap will not play into it since coins do not fall in that category on resell

Pawn shops and coin shops are no more reliable than ebay. Learn how to tell if a coin or bar is filled or clad, that is the best advice I can give.
I do advise avoiding 100oz bars since the process to detect plugged bars is a pain in the ass.
it is safer to shoot for 1oz-5oz bars, even a 10oz bar due to the effort it would take to drill and fill VS the extra cash made by doing so. With a 100oz bar it is very lucrative and common. APMEX has even sold 100oz bars that were discovered to have this happen to them. Their story was the shipment was not checked prior to being sold. True or not, the larger the bar the easier it is to be scammed.
The "newbie" way to check larger bars is to weight the bar. A good bar or a professionally done scam bar will weight right.
Check the bottom,top and sides for fill points.
Buy a 52 rare earth magnet. On larger bars you can place the bar at an angle and let the magnet slide down the bar. On Silver,the magnet moves FAIRLY slow. On a bar with lead, them magnet slides down much faster as lead/silver has less of a diamagnetic property than silver by itself does.
The ring test is subjective to a persons actually handling silver of that size frequently enough to know the tone difference
Build a rep with a local shop or a company that deals in metallurgy. It never hurts to get input and like a doc who just told you that you have 6 months to live, always get a second opinion

I have fake silver come through all of the time. The deal is the more you are exposed to it, the more you handle it and the more you see,the less likely hood of you getting hustled.


NEVER buy silver from over seas.
China BIG time fillers and I was surprised how many people thought Tibetan silver was actual silver

Good luck and give a shout if you have questions !
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