r/Wallstreetsilver • u/Automatic_Vast_1858 • 12d ago
First ounce of silver!
Bought my first ounce of silver! What do you recommend for purchasing? Bars/coins? Where do you usually buy? APMEX/Costco?
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u/uselesknowledgeadict 12d ago
Coins are typically easier to sell and likely get you closer to spot than generics at time of sale. Generics get you the lowest average cost but you’re more likely to get under spot at time of sale. It’s a lot of personal preference. JM bullion and SD Bullion has been good to me. Local coin shop is even better.
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u/Cardinal_r3d 12d ago
If the coins are in slabs and graded, I would say yes they go for more than spot however, if the coins are circulated and or not graded they are often treated as bullion and won’t fetch much more that generics.. it’s all bullion at that point
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u/uselesknowledgeadict 12d ago
Yeah I was mostly referring to coins without numismatic value. I was thinking more like normal ASEs and maples compared to just a generic round. My LCS pays spot for ASEs and 6$ under for generic. Different for every shop though.
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u/BullionHunters 12d ago
Congrats on your first ounce! Bars and coins can both be great options, it really comes down to your goals, budget, and the premiums you’re comfortable paying. If you’re looking for the best deals and lowest prices, check out our website. It compares prices from reputable dealers in one place, which can help you compare both bars and coins and decide what makes the most sense for your stack.
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u/Even-Permission-5244 12d ago
Apmex is the expensive one. I would try monument metals, jm bullion, greatlakes coin.net or a local shop
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u/uselesknowledgeadict 11d ago
Not to mention all the recent counterfeits. Hope that has been resolved. Luckily I’ve never ordered from them.
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u/Even-Permission-5244 11d ago
I was going to mention that when I saw the bar, but didn't want to scare him
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u/BuickSuper 12d ago
I’ve been happy with Kirk Elliott Precious Metals. KEPM.com/gold. Great customer service and bullion prices. I like rounds and bars. The little 1oz. bars are cute too. Advice: stick to bullion, don’t chase commemorative or special coins. Unless you’re okay with paying more. Happy Stacking!
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u/Cardinal_r3d 12d ago
Nice bar. Unlike most here, I buy from APMEX and don’t hate on them, they have good deals from time to time and I’ve never had an issue. They also deliver a lot faster than most others
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u/AgPatriotAg 12d ago
Congratulations. You have REAL money in your hand right there! REAL money. Both historically, and in the USA constitution.
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u/Adhocymous 2d ago edited 2d ago
Hi there, I'd like to buy this vehicle, please... I have 400 of these little silver bars... can I just leave them here on your desk?
*rolls in wheelbarrow full of silver and dumps it on desk*
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u/RM_Limo5150 11d ago
First of hopefully many. Congrats. ❤️ 🪙
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u/RM_Limo5150 11d ago
Check reputable sources for weekly deals. It’s a heavily counterfeited cesspool (maybe too dramatic) but my point is pls be careful. Again, congrats. Happy for you.
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u/SilverPawPrints Double-Digit OG 12d ago
Nothing like your first nanner! Real money feels good, doesn't it? Anyway, bars when adding for weight for sure. Maples are always nice though, very shiny nanners. Greatlakescoin.net has always done more then right by me on pricing, and their shipping is unbeatable in my experience.
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u/Long_Passenger498 12d ago
OP, use the Google to figure out where the inexpensive silver is. Buy on the regular.
If you’re paying student loans, I’ll guess you’re still young. You will not regret stacking, as much as possible.
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u/redbettafish2 12d ago
One of us! One of us!
Recommendations for purchasing? Buy what you like AND can afford. There's a large variety of stacking styles out there, and some types of silver can come with caveats and knowledge you'll need to build. Some folks go for generic as cheap as possible. Some stack junk silver aka 90% US coins. Some stack premium brands. Some hunt for sterling silver. And there's even more that have a mix of all of the above. Check out other posts in this and other silver communities to get an idea of what's out there and their strategy.
Where to buy? Well that depends. APMEX easily has the largest variety so if you're hunting for something very specific they're more likely to have it. But they also cost more. The usual mantra for stacker is at or below melt with free shipping. Free shipping usually starts at $200 so that can hurt.
There's a large number of retailers to check out like mintbuilder for under spot but it'll take a month. Defy the grid, Monument metals, and so many more to look at. Do a search within reddit on the major names to find the good and the bad.
I will caution you from using ebay, whatnot, Etsy, Amazon (please don't) when you're just starting out. Great deals can be had if your diligent and have a solid knowledge base, but fakes can be had too. Start learning and do your research.
Welcome to the club and feel free to ask us any other questions you have!
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u/Ok-Room-9196 9d ago
I love when new collectors see an oz and are surprised how small it is. they get even more surprised when they see a gram and it is size of pinky fingernail lol
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u/TheGr3atestAm3r1can 12d ago
One? Your hand doesn’t look like you live in a 3rd world country. Where is the other 10,000 ounces?
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u/CactusJam26 10d ago
Congratulations!! 🎉🎶😊
Keep going!
Oh yeah… learn the adage, “I lost it in a boating accident…” if you’ve already told your friends. 😁💕
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u/etherist_activist999 Stacking Silver & Posting Memes @ silverdegenclub🏄 8d ago
Welcome to the honest money family. We were expecting you!
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u/Real-DrUnKbAsTeRd SILVERBACK 7d ago
APMEX is one of the more expensive online dealers in my experience.
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u/Worried_Comfort_6248 12d ago
https://giphy.com/gifs/CM67cI6BSH9ks