Buying silver coin?

[jamstutz]

Silver Coin Melt Values

Check the link above to get the current value for any junk circulated coins, that way you will know the actual value of what you're buying. Go to your coin shop and ask for junk silver circulated coins--they should have them individually, by the roll, and by the bank bag.

Expect to pay some sort of premium (extra charge over actual value). Otherwise it wouldn't make any sense for the dealer to sell the coins. If the price of silver is on the rise, you'll likely pay a higher premium than if the price of silver is falling.

Remember, the value of precious metals like silver and gold do not really fluctuate a great deal--what's fluctuating is the value of the dollars that you are paying for the coins. Precious metals therefore suck as an investment since there is very little if any growth--but they shine as insurance against hyper inflation when the value of your paper money disappears as more and more US dollars are printed and circulated.

[dice dealer]

Whitmans Red book of coin values ..Buy it , read it , learn it , live it ....

I have been collecting coins since i was a 5 year old ..

coins like guns if you collect , you will get burned unless you study values , if your just collecting for the SCRAP value you still wanna read this book learn that silver $1.00 coins are not an actual once like most think they are actually about 3/4 once also if you go to sell , the places that buy will not give Spot value but 10 - 15 % under spot ...

All i can say is STUDY STUDY STUDY before you start and good luck ...

[sporter]

Ebay for Gold and Silver bullion is probably your best bet if you keep your eye out of deals.

[Crimson]

Some of the best deals I have gotten came from ebay. Watch for the auctions ending soon, and buy at the last minute. I have won silver for as little as $7 an ounce doing this. But you still need to know what you are buying. Get a book.

[Cpt Caveman]

Stopped into the local coin shop in Nashville, they seem like nice folks and were willing to answer all my questions. I think I'm gonna use them , not the internet and try to build a relationship with 'em. Especially since I'll be buying a little here and a little there as time goes by. The prices are a little higher on proofs than the internet but there's no shipping.

[nawainwright]

Set up a free account with www.apmex.com

You can buy secondhand rounds for less than $1 above price point. Not a spectacular deal, but as someone who has spent some time trolling ebay, its much better than you're going to get 99% of the time.

[Jed]

If you want real value... not numismatic value of the coins... buy only rounds or bars that are .999-.9999 fine silver. There is a coin shop in Franklin, Indiana with a nice selection of the one ounce rounds for just over the spot price of the day.
Larger bars from 10-100 ounces of silver are harder to come by but in Greenwood there is a gold exchange that offers some very large silver bars...
I won't collect any "coins" {most are not pure silver} but silver rounds or bars with .999 or higher stamps are worth investing in as they hold value well.
I imagine in a SHTF scenario a pure silver round will be worth far more than a coin that's 80-90% pure silver... for one its value is easy to determine by weight... where for a coins value you need the year, purity of silver, and numismatic value... something i doubt most people will bother with after TSHTF.

[Cpt Caveman]

Where is the coin shop in Franklin?

[Pamcake]

I don't know if this is the one Jed referrs to, but I know of one on the main drag thru downtown Franklin:

Franklin Coin Shop

http://www.google.com/mapdata?CxUobV...lVTkAECygECZW4

155 E Jefferson St
Franklin, IN 46131
(317) 736-4903‎

[cclark2009]

I used to have a real nice collection, but had to sell last year to avoid bankruptcy. Guess I was just too small not to fail

Anyway, I got most of my deals from auctions. Fancy auctions mean fancy prices, so don't waste your time. Keep in mind your auction fees and taxes when bidding. Here's a link to auction calendars (if I do this right):
AuctionZip.com - Live Auction Locator - Fast,Easy, and Free!

As far as coin shops, I had a good relationship with Lost Dutchman at 4983 N Franklin Road in Indy. Matt is a stand up guy. Just like every other business, he is in it to make a profit, but after checking out every other coin shop, his was the best that I found. He also has civil war and WWII memorabilia.

You really have to look hard to find deals on eBay and you need to stay current on pricing. Redbook is good, but if you are looking at collecting you will need the CDN "Grey Sheets" and the ANA Grading Standards book.

Hope this helps