What to look for when buying metals from ebay??

[TKD_Kid2]

Hey guys. I'm looking to buy some metals here in the next month. Looking at silver, but if that gets to costly then looking at platnium and palladium. I'm a newbie at the metals market to what should I look for for when I'm buying from ebay or should I try and find a local dealer here in town to buy from??

[Caplock50]

:lol: I have bad teeth and a stomach problem...can't chew up those metals and can't digest them either. Tell you what I'll do though...after the SHTF, I'll trade you a can of pork and beans for a pound of your gold. Deal? :lol: :wink:

Hey guys. I'm looking to buy some metals here in the next month. Looking at silver, but if that gets to costly then looking at platnium and palladium. I'm a newbie at the metals market to what should I look for for when I'm buying from ebay or should I try and find a local dealer here in town to buy from??

This is not financial advice!!
Investing is a complex task- consult a financial advisor if you are not certain about your options.

I can't advise you about your personal situation. I can only express what I might do in your shoes... 8)

I Buy local, cash, if possible.

I Started with "junk" silver- pre '65 US coin. These are easy as they are US minted, 90% silver, of known value. Once I accumulated 100-200oz of "junk" I started acquiring bullion.

Bullion 1 oz rounds, or 1-10-100oz bars from the major mints and available from a reputable dealer were what I looked at.

Silver is up 46% since August 07.

This is not financial advice!!
Investing is a complex task- consult a financial advisor if you are not certain about your options.

:lol: I have bad teeth and a stomach problem...can't chew up those metals and can't digest them either. Tell you what I'll do though...after the SHTF, I'll trade you a can of pork and beans for a pound of your gold. Deal? :lol: :wink:

There were those who acquired homes, businesses, and factories with a few ounces of silver/gold in Weimar Germany....

Don't fall for the fiction, obtain REAL money. :wink:

http://www.financialsense.com/fsu/editorials/2005/0728.html

[Caplock50]

Sorry, but all my spare fiat money has to go on prep foods and the like. Gold or silver won't do me any good if I starve to death.

[Falls_Tech]

be careful with ebay. a lot of people are being ripped off there.

[Wildcat]

You could also invest in brass & lead. :lol:

[Caplock50]

WildCat, I am. Every spare penny I get goes into Beans and bullets. I got 6 Bibles, so I figure I already got that one covered good enough. But the beans and bullets...can always use more.

[Wildcat]

WildCat, I am. Every spare penny I get goes into Beans and bullets. I got 6 Bibles, so I figure I already got that one covered good enough. But the beans and bullets...can always use more.

Yep, plus common ammo would be great for bartering with.

[Caplock50]

Wildcat, any barter items will have to come from the 'BGs' that I am forced to 'liberate' it from.

[Milk-maid]

Hey guys. I'm looking to buy some metals here in the next month. Looking at silver, but if that gets to costly then looking at platnium and palladium. I'm a newbie at the metals market to what should I look for for when I'm buying from ebay or should I try and find a local dealer here in town to buy from??

I think if you have the money, you should invest in whatever you want to. Sure it is good to prep, but prep smart. The first couple months of any dissaster could mean the difference in the way things go from there out. If you lose your house while some segments of society are still intact (the bank repossesors) then all the food in the world does you no good. If you have alternate forms of cash to pay for things when others don't, this is a good thing... alternate can come in the form of Gold/ silver/ lead/ etc.

Platinum is way more expensive than Silver. Silver is a good investment and easily recognizable if you stick to US MINTED coins. Paladium I don't know much about. Try to find a local dealer who gets their metals from the mint. They usually know what they are talking about.

If you don't know much about metals start watching a bit of CNBC to see the banner across the top and how much silver and gold are pricing at. Today silver is at 17.10 (when I looked a few seconds ago) which is better than 17.52 an ounce it was a few days ago. However, during the day it can change a lot. I go see my coin shop dealer when the price is low. I can't give you financial advice since I don't have a license to quote you anything... but to each of us..low...means a different thing. If you start at any point...they way the market is going, someday what you buy it at today, it might be considered low.

eBay is risky, but if you go there and deal with a dealer, I would only use people who's rating is 100% or close to it. They are the kind of people who want to please their customers.

Hope this helps

MM

[Filas are prima]

Memorise this phrase, and use it at your local coin store:
"I want to buy silver as close to spot as possible."
Buying EBay means also paying shipping, which could easily equal another ounce of silver.
At this point, only purchase silver that is spot + minimum overage. Do NOT buy the numismatics, which sell for many times the price of spot.
Spot price can be followed all day long on KITCO.

[Milk-maid]

Filas that is good advice. Saying you want to "Buy as close to spot as possible." It forces him to go on his computer and look up spot prices instead of giving me some set fee which is higher. They know when I walk in the store, I already know what the prices are. This is what I always tell my local coin dealer.

I don't buy on ebay since you pay shipping and handling and near me I don't pay but a small fee and no S+H...just the tax. So it is only a few bucks more than spot if you were buying a whole role.

[Samurai Jane]

Buying local is best. I go to a dealer who has been in the same shop for years and years. Ebay is a pig in a poke, IMO.

[ReticentEnigma]

Although rare, if you are patient enough you can run across the occasional ebay seller that doesn't know what they have and get a decent deal on junk silver.

More often than not, bidders will take care of them though, and run the prices up.
You can always search ALL of ebay instead of just in the coins category, because inexperienced sellers often put items in the wrong categories.
Those that are searching only in the coin category are missing those mis categorized items.

[Milk-maid]

Well between Feb.18th (My last post) and now, I eat my words. I found a deal on eBay that made my local coin dealer look pale, so I bought and got a good deal. The item came and was in very good condition. So I made out. I think if you buy from an ebay coin dealer vs. just a person who is selling, then your chances are better of getting what you pay for. They don't want to tarnish their reputation with negative feedback.

MM