Guys I need some investment ideas!

[shootnstarz]

How much are silver eagles each?

Last I bought last month were $32.88 plus 3% commission. The American Silver Eagle 1 oz dollar coin fetches a $3 premium over spot, plus commission, when silver is available. When a shortage occurs that premium, and the price, can rise. Premium is defined as the spot cost of the metal plus the minting fees, ect. All real silver investments carry some type of premium I've found except the half dollars, quarters and dimes. Silver rounds and bars have the least premium, 1 oz rounds were $30.55 + commission last week. The larger the denomination of metal the cheaper the premium.

And check out this little quirk. There is no sales tax on any US currency coin in Florida, but there is on bullion purchases up to $500. Any bullion purchase over $500 has no sales tax.

In all my exhaustive rescearch over the last 3 months I've found the best prices on metal at one of our local brokerage houses. Any of the big exchanges, like Monex or APMEX have higher prices than locally, usually have multi-thousand dollar minimums and charge for shipping and insurance. All it takes is a little gas to buy locally and it's the best prices I've found. They have most any form of the metal you might want plus the old 90% silver coins at the best prices I've found.

Rick

 

[MIAMI MATT]

Thanks for the insight!Looks intresting.

 

[shootnstarz]

One little correction, premium is the cost difference between spot price and retail cost of the coin/bullion. Premium does not include the spot price of the metal.

Historically, for thousands of years silver has been stable at a 16 to 1 ratio to the price of gold. Recently, that ratio has climbed to over 50 to 1. Metal pushers all seem to believe silver prices are artificially suppressed and are poised for a huge correction, to return to the historic ratio. Of course they wouldn't be good brokers if they didn't preach that.

Then again, the paper pushers all preach on the huge risk in metals and talk up the paper as the way to invest. Truth is nobody knows but I prefer to have investments I can actually hold in my hand and no matter what happens will never be worth zero.

And silver is consumed, not just hoarded. They say 90% of what has been mined has been lost forever in industry. It has uses in many manufacturing and health care fields, especially electronics. Apple had a delay last year of one of their fancy new gagets because of the last silver shortage. That one drove the price up to $49+ an ounce.

Rick

 

[FrankT]

Rick, I would like to hold in my hands a ton of "Silver Bullets"!

 

[HughJoergan]

X2 on if you don't hold it, you don't own it!

I've also been looking into PM 401/IRA's. Haven't made up my mind on that yet.

 

[shootnstarz]

Beer, bullion or projectiles Frank?

Rick