Buying Silver On the Cheap

Silverspotchart.net site presents the silver's market in a different light than normal. It covers the normal market of silver but  also includes other areas.  For example it has a great article covering obtaining silver on the cheap.  Hidden sources for finding silver in your own area.  Following is a recent article on this topic.

 

Buying Silver On The Cheap

Investing In Silver On The Cheap


We as a people are experiencing very difficult financial times. You may have lost your job, and now you are lucky to even have a job. If so, it may even be a lower paying job than before. You may have eliminated your savings or lost your home, but there are options. You can buy and sell silver and other items. If you have stopped putting money into your 401K, because stocks are not reaching new highs. If you see real estate prices not going anywhere. Then silver may be for you. For this article we will focus on the silver investment.

Before You Start Know What to Look For

Before becoming a silver stacker, you need to learn how to identify silver. Looking for silver marks such as.925, 925, or sterling, are great ways to identify sterling silver in jewelry. These are usually stamped in the metal in an inconspicuous place. They can be found on the bottom of cups, bowls, other serving ware. They are located on the stem of forks, spoons, etc. The markings will be on the inside of rings or on the back of jewelry.

Where To Find Silver Bargains

By many benchmarks silver is in short supply, and there are many places to buy silver. The stock market and bullion dealers do provide services, but you may be out priced. Visiting the garage sales, second hand stores, and the bank can be a low cost provider of silver. You could save 40-70% on silver by visiting these alternative places. You can find silver at garage sales, second hand stores, and at the bank at lower cost. These sources allow you to buy silver cheaply and at a lower cost. This could actually provide you with a source of supplemental income on top of the investment oppoprtunity.

Locating Discounted Silver At Garage Sales

Just with this information, I have visited garage sales, and purchased many pieces of silver at below market. You want to find garage sales sellers, who don’t know or understand the silver marking (.925, 925, or sterling ). Many times, the sellers is pulling their personal stuff out. They are half asleep. They are tired. They have to move out of their house next week and just want to get rid of stuff. In the past five years, I have purchased silver at garage sales, up to 80% below melt down. You can buy silver jewelry for a few bucks. Sometimes a whole box of jewelry can be bought for a few dollars more. Most of it will be junk jewelry, but if you spot a good piece it would be worth buying. Just spend some time and have some fun.

Finding Silver At Second Hand Stores for 40 to 60% Off

Silver has doubled in the last few years. It is now in the low to mid $30 range. Fortunately for you a lot of second hand stores know very little about silver. At most Salvation Armies, when there are silver pieces they are priced at 40-60% lower than in most jewelry stores. However, the best deals are when the store has 50% off or 15% off for senior citizens. Check out a few local stores and see what’s available. And when you travel make sure to check out the stores in the areas you visit. A few good finds could pay for the entire trip.

Finding Silver At Your Bank

This can be a time consuming method, but it does sometimes have surprising results. You can buy quarter($10.00 per) and fifty cent($10.00 per) rolls. You should probably buy at least 10 rolls at a time. Most of the time the coins are recent, but sometimes you can have a major find. Pre 1965 quarters and fifty cent coins are generally 90% silver. Kennedy fifty cent pieces 1965-1969 are 40% silver.

These times are tough, but with a little patience and persistence the above methods can put a little extra money in your pocket. If you need to check on the daily spot price of silver, go to a site that has a silver spot chart. Good luck and enjoy life.