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What kind of silver should I invest in?? Newbie

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Several of my friends suggest that I start investing into silver.  They have a significant amount tied up into what they call 'junk silver' which sounds like older silver coins.  ($1K face value per household member)  They also have a lot of stage coach bars(?).  I have also heard Jack reference Silver Eagles.  I really do not have the money that they do, but would like to start investing.  Any recommendations on silver investing would be GREATLY appreciated.  What type?  How much?  What price is too high?  Thanks....

I use ebay and craigs list to get silver. I put postings on Craig's list in the wanted section.

this site tells you what coins are worth in terms of silver.

Within a dollar of the spot price is pretty good.

I like a mix of junk and .999 fine

I'm not an expert but I will add what I have learned and my opinion. 

Junk silver- You know something about this.  Coins made before 1964 contain silver.  Advantage is a lot of people know about the coins and the value.  In a SHTF you will probably be able to use the coins because of this recognition. 

Silver eagles- Produced by US mint, 1 troy OZ of silver.  Advantage recognized and trusted.  Disadvantage  usually cost a dollar or two over spot value.  Likely that you can use in SHTF and as bullion investing.

Silver rounds and bars-  Produced by a mint.  Best value if you are trading bullion but not as recognized or trusted.  Gold and silver dealers can do a test to see if it is real but the average citizen may not be able to.  Less valuable in a SHTF situation.

I buy silver eagles.  You pay extra for them but I think it is worth it.  My favorite dealer is APEMX and you get a discount if you buy 20 at a time.

I looked up silver eagles on Wikipedia just now.  Lots of interesting information on silver eagles. 

I like Silver eagles from the US Mint and pre-64 silver coins... The OZ coins from the Canadian and Mexican mints can be good as well.

Do some research on the price of silver over time before you get too heavily invested.

Is there value in having some precious metals - sure, diversification is good. However, metals are not really an investment as much as protection against inflation. The key being that the dollar value changes over time, but the actual purchasing power of the metal remains roughly the same.

Again, you need to determine what type of situation you may face that this addresses. If you think the USD is going to fall, this is a good way to go.

Personally, I think having groceries on hand is going to be important as the cost of food is going up every day.


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