Small qty's of silver, 1oz coins bars etc

Mini850

Hi all,

Looking at buying small amounts of silver bullion/coins every month as a fun way of saving.

I have purchased a couple of american eagles on ebay for very reasonable money even with postage included

But having looked at the usual places to buy online, and found some sellers selling for between the €16 - 18 mark depending on the coin, I'm struggling to find good value shipping. I only want to buy a few coins at a time (2 or 3) but it could cost up to €30 to ship them. While im prepared to buy coins at a few percent above spot price, I'm getting stung on the shipping price.

I don't have the discipline to save and buy in bulk to spread out the shipping costs.


Where could I get small quantities from and delivered at a reasonable price??

I'm open to silver bars also.

coylemj

As with buying foreign currency, the spread between the buy and sell prices is greatest when purchasing small quantities. That's a hidden cost in addition to the shipping costs you've described which as you've discovered are disproportionally high when dealing in small quantities. Throw in the speculative risks associated with dealing in a single commodity and you really need to consider an alternative way of saving your money.

Put another way: I'd leave this type of speculating to the big boys, small people like you can't make money at that game.

Mini850

I'm not really trying to "make" money as such, just interested in spending €50-100 a month on some silver coins etc. They may be worth more 10-20 years, they may be worth much less.

I am aware that with buying small quantities, I'm going to pay more than with buying in bulk.

As for putting all my money in one commodity, and the risks involved, I'm spending such a small amount of my income, the personal risk is small.

So back to the question any "small people" out there ??? :-)

NewDirection

I've never tried, but would a local pawn shop / cash for gold shop deal in small amounts of coins. May be worth a phone call

Blade

If you go to the Coin Fair at the RDS in Dublin on 16/18 October, there's usually a bullion dealer there who sells at pretty good prices and of course you don't need to worry about shipping costs! I can't think of his name now, so don't know if he'll be there for sure, but he's dead sound and I know a few of the guys here have bought from him before including myself. Maybe someone else here can think of his name or have his contact details. I think he was even mentioned on a couple of Youtube videos.

Mini850

Cheers guys,

Coin fair sounds like a good bet. I'm going to ring my local cash for gold type places also, see if they have anything.

Thanks again.