which silver rounds to buy?

[thing]

I have been coin collecting for a long time, i am big into coin roll hunting. but now I am thinking of just buying some silver rounds, for I guess investment, (like ten rounds) I am looking on line and there can be big price discrepancies between the silver rounds made by different private mints. If silver is silver and it is bought for an investment why are there companies out there charging 2 dollars over spot for their silver rounds when another company changes only a dollar over spot for the same silver. There seems to be a company called ohio precious metals that has the lowest over spot price i have seen. Could there be a quality issue with their rounds and thus the lower price. Are the lower price coins not made by trusted mints? I dont get it.

 

Amazon Forum Fav 👍

Treasure of Victoria Peak - Grab it through Amazon!

[TreasurePirate69]

I think you should just buy what you like. I know that as investors we tend to try and overanalyze things by trying to save every penny we possibly can. But in the end, is it really going to matter whether you paid $22.55 per round or $23.05 when you go to sell them? Now, if you were going to buy $10K worth of silver then it would make a big difference. But for 10 rounds it isn't going to make or break you. That doesn't mean you should go buy $30 silver rounds. You want a good deal. But don't overanalyze it. Buy reasonably priced rounds from a reputable source like Provident Metals or some other well known retailer. Frankly, I'd be more inclined to pay more attention to the overall shipping costs and reliability of the company than I would about the exact spot price.

As for OPM, I have no reason to believe that they aren't quality rounds. But for some reason they have a slight stigma associated with them because their rounds are made from reclaimed silver rather than mined silver. To some people this just don't seem "right" or "fair". Yet many mints likely use at least some reclaimed silver to make their rounds anyway. But again, if you have concerns about OPM rounds holding their value then just spend a wee bit more and get a more reputable brand if possible.

 

[FreedomUIC]

I have quite a few of their bars. OPM does have a quality product.
My Thought process is that Silver is Silver, why pay more when you can get it for less!!!!!

I know, very simple but it works for me.

 

[TreasurePirate69]

I have quite a few of their bars. OPM does have a quality product.
My Thought process is that Silver is Silver, why pay more when you can get it for less!!!!!

I know, very simple but it works for me.

I think it depends on what your goal is. For many people on this forum, their goal is just to stack as much as possible. And for those people, I agree that "silver is silver". As long as you aren't bending over dollars to pick up pennies in order to get the "best deal" then there is no reason why you should pay more for the same thing. However, if you are taking on additional risk or spending tons of time trying to save a couple of bucks then that doesn't really help your cause.

For me, my primary goal is to build a nice assortment of silver products that I can hand down to my kids (and eventually my grand kids). Because of that, I'd prefer to have silver that I can enjoy looking at and sharing with my children. All else being equal, I will try to find interesting pieces and better designs. There is nothing wrong with OPM rounds if all you want is cheap silver. But they are really nothing to write home about in terms of looks. There are plenty of other rounds that look a lot better and are more interesting for just a few pennies more.

Again, it all comes down to your goals and your likes/dislikes.

 

[ShOwStOpp3r]

OPM is nice i have some OPM bars,,i also bought some Scottsdale Silver silver rounds that look like old Spanish doubloons and i bought them because they command a higher resale,,check Ebay folks love these things..
Scottsdale Silver & Gold LLC

also if you buy walking liberty's and cash in over a certain amount you dont have to pay tax on them vs if you cashed in a large amount of other silver rounds or bars..i always buy silver eagles because its worth the premium,,you'll get that money back when you sell them,,its a very recognizable and trusted coin as well,,in a barter somebody would feel more comfortable dealing with a silver eagle then something stamped OPM...i stack it all though except i moved away from large bars in case silver ever goes to 1500.00 and ounce and i have to cash in a 100 oz Englehard bar and get wacked on taxes..

i get my best deals at liberty metals,,,i do like provident though

 

[fistfulladirt]

I just received a tube full of OPMs, not much in the looks dept, but I'm pleased, and the prem was less than a buck each.

 

[Mtldealer]

Long ago companies like Engelhard and Johnson Mathey were the reputable companies to buy from. The problem is that now they are the ones being counterfeited. My dad and I bought hundreds of engelhard prospectors when I was a kid and silver was at $8/oz. Now I find myself looking over them wondering (I'm a little paranoid) if they are counterfeit. I know they aren't, but they are copied so much I get nervous. OPM and other companies are more than fine for the average stacker and should be in all stackers portfolio's. Like another poster mentioned. Look out for the shipping costs... That's where they get you. Happy stacking.