Silver prices go up and down. People can make money by buying when it is low and selling when it is up. But that's tricky business. That's not investing. That's speculating.
You're going to end up with a stack of coins that you paid $40 each to buy, and you'll be lucky to sell them for what you paid.
Don't do it. This is not an investment.
If you're only looking to spend $40 or so, perhaps buying silver isn't a bad idea. Though before you do, I will caution you that no business will sell at less than spot, since that may bite deep into their profits. You buy silver at the current spot price PLUS the seller commission.
There are genuine and legitimate methods of buying silver second hand - but you have to make yourself aware of WHY these businesses are selling "used" silver coinage at below spot price. Could it be because they are difficult to sell?
There is a reason that silver-bar is cheaper than silver-coin. Have you heard of Capital Gains Tax (CGT) - YELP? Your own country's coin, providing it can be said to be still in circulation, attracts no CGT, but any profits you make from price increases on silver-bar definitely do.
You have to be the judge on whether silver is currently at a high or a low
sstrattus mentions that you should invest in your financial education - but you can join a free lending library, can't you? Get yourself well-read in very basic finance and trading. Read the "Idiot Guide To trading" or the "Investing for Dummies" series.
Remember, in buying your silver, that silver doesn't return any profit until you sell it again. There are buy-in costs and buy-out costs - take them into account. Keep any paperwork - the tax man is known to be merciless.
Before you invest in silver, you should invest in your financial education about silver, otherwise you are gonna get slaughter.
Hello i am a young guy 19 thats is looking to start investing in silver. I dont know much about it, other than im going to spend like $40.00+ dollars every week buying as much silver as i can. I feel like i am wasting my money on items that depreciate in value so much. I know silver will always have value. Right now its at 19.20 an ounze.
My main question is this if silver is 19.20 an ounce how much will it cost for me to buy. I am sure business needs to make money so they need to sell higher or do they sell it a spot.
i just want to slowly build a nice solid stack of silver.
I dont care for coins im just more interested in the sliver part. Like bullion bars.
what ever is cheaper.
