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View Full Version : New to silver, is this a good deal?



ruggerbugger
7th March 2009, 16:38
Hey ladies and gents,
This is my first post on this forum. I have been reading fore awhile tough. I am new to silver investing and am only 22. So some advice would be great.

I found this on my local classifieds while looking for some bargain prices, was wondering if it is a good deal at all?

$280 or best offer.

10 Ounces of eagles from the US mint. 1X1998, 1X1999, 1X2000, 1X2001, 1X2002, 1X2003, 1X2004, 1X2005, 1X2006, 1X2007, 1X2008.

All in mint condition, all in plastic cases. I am selling so I can invest in larger bars.

Email for pictures.

Price is in CAD, I told him it was very high over today’s spot of 13.33USD aprox 17CAD. I offered him $20CAD each. I got a reply that he would not sell them for less than $20USD. Is there anything special about these coins?

Kind regards
Rick

P.S
If its a terrible deal, well could someone point me in a good direction please lol
I have also seen some of these deals on the internet, looks like the same company, does anyone know if they sell to Canada?
http://forums.silverseek.com/showthread.php?t=4876

Ardent Listener
7th March 2009, 17:06
If you are buying for the bullion silver value then I wouldn't pay that much. If you are buying for numismatics then you need to ask someone else. Since he is selling to buy bullion instead then that might tell you something.

ruggerbugger
7th March 2009, 17:15
Thank you for your reply. As I said I'm new to the silver scene, and in my opinion maybe I should stick to buying silver for its value for now. Im looking to place my very first order for silver. Do you know of any places that would be a good place to start? The best bang for my buck.

Ardent Listener
7th March 2009, 17:21
Thank you for your reply. As I said I'm new to the silver scene, and in my opinion maybe I should stick to buying silver for its value for now. Im looking to place my very first order for silver. Do you know of any places that would be a good place to start? The best bang for my buck.

I only do serious buys though my local dealers. I sometimes pay a little more, but I always walk out the door with my precious metals in my hand for my money. There are online dealers of course. Some of those who offer at a low mark-up over spot often take weeks if not months to deliver. A few may not deliver at all some day. That has happend to me in the past. I would start looking through the yellow pages for local coin/bullion dealers.

ruggerbugger
7th March 2009, 17:28
Thanks again. I am going to have a look in the yellow pages now. I noticed that NWT mint has and had huge waiting times on their silver. Its hard to find their prices with short waiting times elsewhere. I dont want to have to worry about where my money went, while waiting for a long delivery.

Brokemind
7th March 2009, 17:32
Hey Rugger, I'm a fellow Canuck so I know how difficult it is to find silver right now. As far as online options we are very limited as most of those companies do not ship to Canada. Even Kitco.com which is a Canadian company is screwing us by only selling most items to the US lol. You can check out their selection of bullion because occassionally they do sell to Canadians so keep on top of it. Right now they are only selling the Olympic edition Maples to Canadians which have a ridiculous premium.
As far as online stores the only one I have used is NWT mint. Now keep in mind they have two stores, an online and a call-in and they are different systems of pricing etc. While the call-in has much lower premiums, they wait times are about 3-4 months right now and I question if they will make good on everyones deliveries. Also there is a 30cents and ounce shipping fee to Canada. That said, their online store has higher premiums, but they are still reasonable when you compare to the local coin shops etc here. Also it is a flat rate of $20 in shipping so you save there and the wait times are much less. I personally received my last order this week in about 17 days from the time I placed the order and have since placed another with them.
With all that said, do your leg work around your local area. Coin shops, coin shows, local buy and sell, banks, and even jewellery auctions are all things to check out. You will find good deals but it takes effort. BTW, if you are in the Vancouver area I would check these guys out, they don't ship though.
http://www.vbce.ca/index.cfm?fuseaction=fx_services.Gold&Silver

pmstacker
7th March 2009, 17:34
You can find good deals on ebay from time to time, you just need to know where to look. Also live.com has an 8% cashback offer going right now so you can save even more. I bought a couple academy 10 oz bars for $155 shipping included (USD). In the past few weeks i've found a-mark bars as low as $154 and buffalo rounds as cheap as 14.50/ea in lots of 20-50. Good luck on your adventure, nows a good time to start stacking silver ;)

ruggerbugger
7th March 2009, 17:54
@Brokemind, Thanks for your insight. I have looked all over and have to say it is harder for us to get bullion for sure. Its even harder for me right now as I am temp living in a small town of 50,000 people while finishing my pilot training. I'm 5 hours away from either Toronto or Ottawa. So the selection is even lower around my area, lol. I was very close to buying silver from NWT when it was around $10 last Oct. I was just shocked by the waiting times. I was ordering enough, that the best way for me to order was the call-in option. Anyways, i decided against it. Should have bought, I would have had it by now. Wonder if the price will drop back around that mark for some serious stacking. Anyone think it will happen?

I was looking at border gold in B.c, Ill cal them on monday. See what they offer.
Scotiabank seem to have a few scams of thier own also. charge you for the most rediculous things.


@pmstaker, I have heard a little about that cashback. I really dont know much about it at all. It sounds like it would be a good way of catching some deals on ebay. Because from what I have seen on ebay.ca is all over priced. lol I just saw a 1oz silver bar end with no bids, the seller had a shipping charge of $38 to Canada and $30 for the US.

Gen Ripper
7th March 2009, 19:55
Hey Rugger, Check out First Majestic:

They are a huge refiner in CAD, and just started selling their silver to the public.

http://www.firstmajestic.com/s/OrderForm.asp

They list price every day and you just lock in that price with the online form. I just bought from them and shipping/handling was about 35USD to Chicago. I have to believe that shipping to CAD would be cheaper. Doesnt cost anything to ask them..

Brokemind
7th March 2009, 20:26
Nice find Ripper, I think I will give those guys a try.

ruggerbugger
7th March 2009, 20:38
Yea, I came across them earlier, either on this forum or another. I forgot to bookmark their page. Thanks for mentioning it again. I am going to call them on monday to find out more.
Am I missing something? I would have liked for them to have direct links on their site to the actual item numbers on the order form.

SC1-T 1 oz. Business Strike rounds in tubes of 20 coins (min. order: 1 tube = 20 ounces; max. order 10 tubes = 200 ounces)

What do they mean by, 'Business Strike'? Is that just the 1oz coins they show on the right of the page.

Also, is that thier price per oz on the topp of the page for all products, ex the premiums on their collector items?

Im really new to this, lol, I dont want to be disappointed if I order and get something, I wasnt expecting.

I have being searching the net all day trying to find other bullion dealers in Canada. Slim pickings! Even apmex dont send to us canuks

Brokemind
7th March 2009, 21:11
Ya thats the way I took their pricing, I already placed an order so I will let you know how it goes.
Business strike refers to coins that are struck for the purpose of commerce or circulation as opposed to coins struck for collectors. Sometimes they are lower quality, sometimes it doesn't make much of a difference. Maybe Ripper will let us know how the quality is.

Gen Ripper
7th March 2009, 22:43
I ordered all business strike rounds. I will let you know how they look when they come in.

Everything I have read about them or seen on ebay looks really nice, including business strike rounds. I admit, I am all about the silver though.

I like how they dont charge a premium for 1oz rounds like some dealers do. By that I mean charging more over spot for a 1oz round compared to a 10oz bar. I like the liquidity of 1oz rounds, but I dont like to pay for it. ;)

apDdraig
7th March 2009, 23:16
...shipping/handling was about 35USD to Chicago...

Total?

For how large an order? 100oz? 200oz? 300oz?

ruggerbugger
7th March 2009, 23:31
I went ahead and ordered my first ever silver. I went for the 1oz business strike rounds to start. As I agree about the liquidity also Ripper.
The exchange rate sucks for us that live in Canada. If only it was 1:1.
How long until you heard back from them Ripper? If you could let us know when you get them would be great. I would like to know when to expect mine.
Thanks everyone who helped me along here today. I am proud you were apart of my first experience. I love this forum and have been reading it for months. So I guess its time to say "Hi" and "Thanks"

Rick

Gen Ripper
8th March 2009, 00:28
AP: Lets just say my order was below their max. 10USD for handling and 25 for shipping/ins. Looked sorta like a flat rate to me..although I dont know how Canaidja postal service works.

Rugger: They take their time, but don't worry, your price is locked in. They send the first email within the day. Of course my order was mid-week. Based on the delay I would guess that the ordering process is not as automated as most e-commerce.

Stattman
8th March 2009, 11:32
Im not knocking the SAE's, they are truly beautiful, but not a good start with collecting silver.

Start with some silver maples (lower premium and higher purity, Plus higher denominational value - $5)

Or go with the generic 1 oz rounds or bars or even 10 oz bars if you can afford it. Try for Engelhard or Johnson Matthey bars if you run into them.

Things to stay away from until you have alot stocked up: Australian Kookaburras, Chinese Panda's, Morgan Dollars, 90%/40% junk silver, anything less than .999 pure, anything with a high premium.

Also check out the Silver Vienna Philharmonic coins, they are beautiful and have a high purity with a low premium (about equal to the Canadian Maples)

Most important advice I can provide, be happy with your purchase. Never buy anything if you are disappointed with your purchase.

So stay away from SAE's until you have a large stockpile, only because the purity is alot lower than generic 1 oz rounds that are cheaper. SAE's are NOT 100% pure. (Neither is any coin for that matter, but most are 99.9% pure. SAE's are about 99.1% pure, if you count the copper content that is there).

Brokemind
11th March 2009, 03:07
Update: Looks like Kitco is now selling regular silver Maples to Canadians again.

ruggerbugger
11th March 2009, 05:25
Update: Looks like Kitco is now selling regular silver Maples to Canadians again.

I just saw that. I might just have to make an order soon. I would love to have some maples in my new collection.

I don't really understand why they didn't have them for sale in Canada in the first place.

krispy
11th March 2009, 07:41
Those are points worth stressing when purchasing silver coins. I probably have more silver Maples than other coins, but I admit to being suckered in by the attractiveness of the Kookaburras, Pandas and Eagles. http://forums.silverseek.com/images/smilies/icon_redface.gif

speaking of being suckered by attractive coins, i picked up one of the "maples of hope" or whatveer they are called like your avatar.

beautiful likely my fav orite coin in person, but i paid $40 CAN!

worth it. im off to get a old pour JM 20 oz! wish me luck! i've been waiting for a 20 to show up!

Trindrak
15th March 2009, 16:08
mmm... I don't know about buying sliver from the local classifieds. Personally I like buying from Suisse Gold on www.seekbullion.com. They usually have good deals on Eagles as well as Maples. They ship to Canada and the US, and they're insured so you know your not going to get ripped off. Just my thought anyhow.

auptag
15th March 2009, 16:27
I know how that is! I gave even more for mine, but I had to have one. http://forums.silverseek.com/images/smilies/icon_wink.gif But I figure it is one coin I will always keep, regardless of how well silver does in the future.

Good luck!

Just ordered my silver maple of hope!! :D Payed more than the lowest winning bid and less than the highest winning bin on eBay so I'm pretty happy. Can't wait to get it!

GloryQuest
15th March 2009, 16:55
Just ordered my silver maple of hope!! :D Payed more than the lowest winning bid and less than the highest winning bin on eBay so I'm pretty happy. Can't wait to get it!

Very cool! Congrats! I'm sure you'll like it. I think it looks better in person than any photo could possibly show it.

JesterJay
15th March 2009, 23:07
Wow,
That IS a pretty piece of shinyness.
JesterJay



Very cool! Congrats! I'm sure you'll like it. I think it looks better in person than any photo could possibly show it.

GloryQuest
16th March 2009, 07:32
Wow,
That IS a pretty piece of shinyness.
JesterJay

And pictures don't do it justice, JJ! http://forums.silverseek.com/images/smilies/icon_wink.gif

(Is this where I'm suppose to state that I don't have any ties to the Royal Canadian Mint, nor have I sold any silver, especially Maples of Hope? http://forums.silverseek.com/images/smilies/icon_mrgreen.gif)

auptag
16th March 2009, 09:44
And pictures don't do it justice, JJ! http://forums.silverseek.com/images/smilies/icon_wink.gif

(Is this where I'm suppose to state that I don't have any ties to the Royal Canadian Mint, nor have I sold any silver, especially Maples of Hope? http://forums.silverseek.com/images/smilies/icon_mrgreen.gif)

This is where you're supposed to say, "And you can have your very own for 4 easy installments of $29.99!!....But wait....there's more....."

Ordered it from a seller in CANADIA who said that it will take 12-22 BUSINESS days for it to show up via ground shipping. Grrrr.... Hopefully he's overestimating the time.... :-/

GloryQuest
16th March 2009, 10:07
Ordered it from a seller in CANADIA who said that it will take 12-22 BUSINESS days for it to show up via ground shipping. Grrrr.... Hopefully he's overestimating the time.... :-/

Yikes! Hopefully he is.


This is where you're supposed to say, "And you can have your very own for 4 easy installments of $29.99!!....But wait....there's more....."

LOL...maybe I should try that. http://forums.silverseek.com/images/smilies/icon_lol.gif

Mylläri
16th March 2009, 11:10
Im not knocking the SAE's, they are truly beautiful, but not a good start with collecting silver.

Start with some silver maples (lower premium and higher purity, Plus higher denominational value - $5)...

...So stay away from SAE's until you have a large stockpile, only because the purity is alot lower than generic 1 oz rounds that are cheaper. SAE's are NOT 100% pure. (Neither is any coin for that matter, but most are 99.9% pure. SAE's are about 99.1% pure, if you count the copper content that is there).

First off I agree that if you're in Canada that you should go with Silver Maple Leafs as your first choice in silver bullion.

Secondly, Strattman you are bashing SAE coins with incorrect information that seems to continously be regurgitated around here no matter how many times someone sets the record straight :rolleyes:

SAE coins are not exactly 1 troy ounce in weight, in fact they happen to be slightly over 1 troy ounce in weight. All SAE coins contain 1 troy ounce of pure silver and 0.007 troy ounce of copper. That would mean overall the purity of the coin based on weight is .9993 silver even though they do contain 1 full troy ounce of .9999 just like a .9999 Silver Canadian Maple Leaf coin does.

krispy
16th March 2009, 12:08
the maple of hope is lovely. You'll really like it, Glory is right, its so much bettr in person. they also make a holographic version, but I opted to the one in Glory's sig.

I especially like how the diameter is less than a normal round, and the coin is a bit thicker to compensate. also, becuase these were made a few years ago, the granny on the back doesn't look so old and wrinkly!

auptag
16th March 2009, 18:53
Cool...can't wait for it to come in.

In the meantime...just got my '08 and '09 Kooks (my FIRST!) today. Man...these are some beautiful coins! I can see what all the hubbub is about.

Makes the APMMEX and BD waits easier to handle when I can have a little fun while I'm waiting!

GloryQuest
16th March 2009, 19:30
Yeah, I really love the Kookaburras, too. I was able to get some of the 2009s, but none of the 2008s. I really love the design of the 2008 Kooks, but the best I've been able to find them for is US$35.

auptag
16th March 2009, 20:05
Yeah, I really love the Kookaburras, too. I was able to get some of the 2009s, but none of the 2008s. I really love the design of the 2008 Kooks, but the best I've been able to find them for is US$35.

How 'bout this? (http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWNX:IT&item=190293245530)

$30 US - 9% MSLive Cashback = $27.30 plus FREE SHIPPING! :)

It is more than I payed for the 2009 (obviously), but weirdly enough, also more than the '91 and '94 I just ordered.

Okay, so I realized we've hijacked this thread, but wondering what you thought about the kook capsule? I was excited that these came in airtites...only to realize that they AREN'T really airtites. There's a tiny little fingernail hole where you could stick your finger in and pry the plastic apart. Do you remove and recapsule yours, or just keep it how it is. All silver coins of value that I've purchased over the years have been slabbed and graded, but starting to get into "plain" uncirculated coins (mainly because there's more chance that I'll be able to complete a set! but also lower premiums are easier to swallow as the silver stacker in me is starting to take over the numismatist) so I'm thinking about grabbing some white gloves, some airtites, and swapping all of my uncirculated ASEs and Kooks out of their coin flips and open containers.

Brokemind
17th March 2009, 21:29
Update on my Magestic Silver order: Received it today, 8 days from order to delivery. The rounds are pretty nice for business strike, they're no Maples but I like them better then my Pan-Ams anyway.

ruggerbugger
17th March 2009, 23:21
Update on my Magestic Silver order: Received it today, 8 days from order to delivery. The rounds are pretty nice for business strike, they're no Maples but I like them better then my Pan-Ams anyway.

Great news Brokemind, Do you have any pics? Silver porn is the best.
I havn't gotten mine as of yet, but I am sure they will be here in the next few days. I increased my order on the tuesday after we ordered. They also gave me the lower price on the whole order as it dropped 25c/Oz. Fingers crossed it will be here soon. Its my first order of silver and I just can't wait to hold it.
I was thinking of starting a thread on here called 'List of Canadain PM dealers'. This might help us find a few more dealers, I cant find anything else but whats listed in this thread, google search isn't showing any great results.
I'll research it a bit more and put it up in a day or so.

ruggerbugger
18th March 2009, 12:27
Got my order today. I am real happy with all of it. The rounds are perfect. All said and done, first majestic have a great thing going. Fast shipping, good price if you watch thier page, great customer service and perfect product. I'll be ordering from them again.

Brokemind
18th March 2009, 19:28
Nice Rugger, guess I don't need to take pics now ;)
I agree, I will order from them again too. Great prices especially for people who make small orders.
BTW, my NWTM order came in today, only 1 day behind First Majestic so not too bad considering it crossed the border.

ruggerbugger
18th March 2009, 19:57
Nice Rugger, guess I don't need to take pics now ;)
I agree, I will order from them again too. Great prices especially for people who make small orders.
BTW, my NWTM order came in today, only 1 day behind First Majestic so not too bad considering it crossed the border.


Thats sweet, so you ordered around the same time? and over their 50 Oz limit? I find their online store a rip off compaired to the bullion store.

I was going to buy silver from them back in Oct 08 but the 12-14 week crap put me off.

Brokemind
18th March 2009, 21:36
Ya, I ordered the same day and it was over 50oz. The online store prices are not great, but the Pan-Am stuff is not too bad and you do get a good deal on shipping through the online store. I don't think I will order with them again just because of the prices, but the actual service was good for the 2 orders I placed with them.
First Majestic dropped their price .25/oz today, time to hit them up again ;)

auptag
19th March 2009, 19:15
How do you order w/ FM. I filled out the form 2 days ago and never got a call back. Should I just call them directly?

ruggerbugger
19th March 2009, 19:21
How do you order w/ FM. I filled out the form 2 days ago and never got a call back. Should I just call them directly?


Thats what I did. I have read in a few places that this happens a lot with them. Just call them, the rest of the order process is a breeze and very quick. I only wish they had live (market) prices and a better order system.

auptag
19th March 2009, 19:26
Thats what I did. I have read in a few places that this happens a lot with them. Just call them, the rest of the order process is a breeze and very quick. I only wish they had live (market) prices and a better order system.

Cool....may try to call.

What do they base there set price on...the price at the end/beginning of the day? Does it change daily? Less? More?

ruggerbugger
19th March 2009, 19:50
Cool....may try to call.

What do they base there set price on...the price at the end/beginning of the day? Does it change daily? Less? More?

Not to sure about all the details on their price.
I did ask the woman when I called and she just said they change it daily if there is +/- .50c move from the last updated price. I keep an eye on theri prices and it seems they keep it at just over a dollar over spot.

I ordered when it was at 14.25 on a sat, I then called and got my order confirmation, which gives you 48hours to decide if you want to buy or not. Silver dropped on the Tuesday to $14 on their site. I doubled my order and she was nice enough to give me the whole order at $14/ Oz. That was around 80c over spot

ruggerbugger
19th March 2009, 19:53
the silver is beautiful by the way

Brokemind
19th March 2009, 21:28
Heres a shot with some Majestic silver in it.
http://i252.photobucket.com/albums/hh21/stylezhammer/BullionMarch09.jpg

auptag
19th March 2009, 21:35
Heres a shot with some Majestic silver in it.


Showoff!! :p