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Most cost effective way to purchase precious metals?

I get that. I meant, if you want to gamble on the APPRECIATION aspect of pm's alone (forget the physical risk), then are those funds better or worse than physical and why?


Depends on if you trust in the stock market not suddenly going to zero along with everyone’s retirement. Stacking physical metal takes up space and is a security concern depending on the amount. Much easier in my opinion to buy paper with a small amount of physical since the cost to securely store physical outweighs the upside in my opinion and it’s much easier to cash out your paper position.
 
Hit the local pawn shops is one idea. If you think metals are going higher get an ETF like the SLV. Stay away from MF they will rip you going and coming. Even the no load funds get their cut thru a management fee. Heck silver pops up here from time to time. Throw a WTB out there that you are paying spot and see who bites.
 
I will add my .02 on ETF silver and other PM's. Mainly silver is the big kid. There is a lot of speculation that there are more paper shares than physical silver backing the funds. JP Morgan has been fined both here and in London for selling more paper than they can back. Supposedly they are working on closing the gap. There is also speculation they are trying to drive the spot price down to reduce risk exposure. I don't own paper silver. Pawn shops can be good as can decent coin dealers. There is also the gold and silver guy in Marietta who advertises here. There are fake older Chinese copies of US coins out there. They are not magnetic and look damn good. They are very close on size and weight to the real thing. Be careful out there. Buy from a reputable dealer.
 
Depends on if you trust in the stock market not suddenly going to zero along with everyone’s retirement. Stacking physical metal takes up space and is a security concern depending on the amount. Much easier in my opinion to buy paper with a small amount of physical since the cost to securely store physical outweighs the upside in my opinion and it’s much easier to cash out your paper position.
Read the fine print. There is nothing backing those ETF.
 
I'm looking to open a position in gold/silver. What is the most cost effective way to purchase physical metals? Paying a 20% premium on a 1oz silver bar seems counter productive.

Edit: I've never bought or sold metals before.
If you want silver right now then you're going to have to deal with the high premiums. I'd recommend one of the big bullion websites like JM Bullion; they often have better prices than local coin shops and they deliver the stuff insured, in discrete packaging, and right to your door.
 
My own strategy is just like buying ammo. I use the best outlet for what I'm looking for. Sometimes is online from a bullion dealer, sometimes its local from a dealer, and sometimes its just where I happen to find it.
 
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