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Thread: Accumulating silver at lowest cost over spot and Payments in Bitcoin

  1. #1

    Default Accumulating silver at lowest cost over spot and Payments in Bitcoin

    Hello All,

    I've been away for a while but I am getting that Silver itch again. I have a couple of questions:

    1. What should I be buying in order to accumulate silver at the lowest price over spot. Is the Buffalo round the best bet or are there bars that have lower premiums?

    2. As a Canadian what is my best source for making Silver bullion purchases?


    3. Are there any decent silver distributors in Canada who accept Bitcoin but are also competitive with their prices?

    Thanks in advance.
    “The markets can stay irrational longer than you can stay solvent.”

  2. #2

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    The lowest premium would probably be silver shot, but 100 oz bars are the next best thing. If you can get a 10 oz bar for the same premium as a 100 oz, good deal. You're going to pay more for rounds, and some would argue the liquidity is worth it. Others would say you can just melt for liquidity.

    I don't follow BitCoin, no intrinsic value, user base waiting to get fleeced - aka pump and dump waiting to happen. Any new currency protocol could take its market share.
    Trading fiat currency for precious metals is not an investment. Rather, this amounts to disinvestment from currency mandated for tax purposes. Gold and silver are money. Currency is merely a medium of exchange.

  3. #3

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    Quote Originally Posted by Westwood View Post
    The lowest premium would probably be silver shot, but 100 oz bars are the next best thing. If you can get a 10 oz bar for the same premium as a 100 oz, good deal. You're going to pay more for rounds, and some would argue the liquidity is worth it. Others would say you can just melt for liquidity.

    I don't follow BitCoin, no intrinsic value, user base waiting to get fleeced - aka pump and dump waiting to happen. Any new currency protocol could take its market share.
    Silver shot would not be very good for re-sale would it?

    Who in Canada has the best deals on Bars?
    “The markets can stay irrational longer than you can stay solvent.”

  4. #4

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    I don't know any bullion dealers well enough to stake my recommendation on them. I've heard JM Bullion has good prices. I've heard that Provident takes BitCoin (I think).

    Silver shot is most commonly used to melt into coins, but you asked about lowest cost over spot. If you are taking resale value into consideration, I wholeheartedly recommend (and buy) goverment silver coins - Canadian Maple Leaves and American Silver Eagles. You'll pay a buck or two more than the buffalo rounds, but you're paying for that recognizability and trust that will help a prospective buyer feel comfortable with the purchase.
    Trading fiat currency for precious metals is not an investment. Rather, this amounts to disinvestment from currency mandated for tax purposes. Gold and silver are money. Currency is merely a medium of exchange.

  5. #5

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    Quote Originally Posted by Exidous View Post
    Silver shot would not be very good for re-sale would it?

    Who in Canada has the best deals on Bars?
    SilverGoldBull accepts payment in Bitcoin
    A skeptic's work is never done.

  6. #6

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    I usually go with 10oz bars as the premiums are a bit lower and would be easier to sell or barter later on. Keep in mind that Westwood has a good point about having government silver coins. I have a number of those myself for that very reason. In short, keep the future sell strategy in mind along with the premiums. JMO for what it's worth.

  7. #7

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    https://comparesilverprices.com/

    So far I have bought nothing except Royal Canadian Mint metal, with the exception of some ten round, bargain basement, deal on ten Sunshine rounds from J.M. Bullion. The best bang for the buck is 100s. Once in a while you can find 10s for near the same over spot---better deal for reason stated above. I also really like the Maples, but the premiums have gone through the roof.
    Metals are for Investors who take more risk with what’s Real, and less with what’s not. Author unknown

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