So. The wife and I are thinking of buying some silver. Partially as an investment, partially as security, partially because shiny.
Teach me the pros and cons of buying little bricks vs. old jewelry vs. old currency vs. rounds vs. whatever.
*im sure this has been discussed at length here already but I tried searching for it and came up blank. Admittedly I'm not super great at computer stuff though.
Thanks!
SIlver and gold are generally crappy investments and you'd do better in the long term in the stock market. If you do manage to buy low and sell high you'll do OK, but it doesn't sem to work that way. I like 10 oz silver bars and 1 oz American Eagle coins (they're pretty) and suggest that you find a place that will sell you bars for a few percent over spot price, and buy it back at a similar discount. Coins are a little more per oz. Check prices online before you buy.
I don't think jewelry silver is pure enough to have much value
It's probably less expensive to get silver serving wear or jewelry at a thrift shop than it is to silver ingots or coins. Coins especially have value to collectors.
I got silver items for a few bucks that way.
I usually bought 10oz bars. Easy to store, easy to sell, fun to look at.
If you're buying metals, the sales tax limit is $1500 in one purchase, after that it's tax free because it's considered an investment. That may have changed in the few years since I was purchasing, but be aware.
Search for a bouillon broker instead of a pawn shop, most big cities should have a couple. Usually a small office or even a house, sometimes you need an appointment.
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