Silver or Cash???

I have been propositioned with two options for a gun I'm getting rid of... 1) take $450 cash or 2) take 15 ounces of Silver. I have never really though about silver as a trade option before. So my question to everyone is this.... Which do I take? Is 15 ounces of silver gonna be worth the trade in 6 months or a year? Or is cash in hand a better decision?

where can I even take silver if I want to cash it in/ trade it in and get its current market value? I've never had silver before so I have NO IDEA what I COULD do with it.

I'm not really sure how to proceed!

whaddaya think?

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Originally Posted by hawk1

I have been propositioned with two options for a gun I'm getting rid of... 1) take $450 cash or 2) take 15 ounces of Silver. I have never really though about silver as a trade option before. So my question to everyone is this.... Which do I take? Is 15 ounces of silver gonna be worth the trade in 6 months or a year? Or is cash in hand a better decision?

where can I even take silver if I want to cash it in/ trade it in and get its current market value? I've never had silver before so I have NO IDEA what I COULD do with it.

I'm not really sure how to proceed!

whaddaya think?

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Melt it down and make a a trillion dollar coin out of it.

15oz of what? bullion? minted coins? silver eagle? Silver eagle typically has 10% premium over market too.

are you strapped for cash? if not, i would take the silver (if it added up to cost in the market) to add to the portfolio.

Silver is only 100 Million,Gold is a Billion[Coffee], oh and take the silver

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Originally Posted by blacklabel

Melt it down and make a a trillion dollar coin out of it.

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I'd take the silver, unless I needed immediate cash. Especially if its Eagles, Maples or Philharmonics. Sounds like you're getting offered spot price, and the premium for those coins would be hard to pass up.

If you need the cash take that. If you aren't pressed take the silver. Today silver closed a 30.80 an ounce so you're getting 462 in value with the chance of it going up later. Plus, if you are into prepping or believe there might be financial problems in the near future the in hand precious metal will be better than paper currency.

Over the past 5 years silver has done better than gold take the silver

Take the silver as long as it's > 90% pure.

www.apmex.com to sell it if you have to.

6 month a year? Take the silver.

About 4 years ago I traded a guy some ammo for 31 ounces of silver. I was into that silver for about $14 an ounce. I sold it about a year ago for $30+ an ounce...maybe $31.

I'm finding myself looking to trade for silver more and more lately if I don't need immediate cash. There's also always someone willing to buy it. Hard to say if the value will go up or down, though. My guess would be up.

always take the silver , never pay more than melt, hang on to it for a while , always sell at spot + 2

dont get suckered into paying more for a coin because its pretty or rare (leave that to coin nerds ) just stick to the basics and you will always come out ahead

hold out and trade someone for more ammo :)

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Originally Posted by alxone

always take the silver , never pay more than melt, hang on to it for a while , always sell at spot + 2

dont get suckered into paying more for a coin because its pretty or rare (leave that to coin nerds ) just stick to the basics and you will always come out ahead

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Smart. :)

So it would be 15- 1 ounce englehard coins... I'm asking $450 for the gun and looking at silver prices ($30 per ounce) I would be getting what I'm asking for...

did they not just reinstate the 1099 requirement for precious metals?

it was being discussed on KHOW again last week.

i know this would not apply, but there could be a dip in value for non coin metals when it takes affect

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Originally Posted by hawk1

So it would be 15- 1 ounce englehard coins... I'm asking $450 for the gun and looking at silver prices ($30 per ounce) I would be getting what I'm asking for...

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Those are what are called rounds not coins , rounds are bullion and coins are/were curancy . Bullion is easier to resell . But yes you would be right in there on price .

I would go with the engelhard coins as long as they are not counterfeit.

Make sure they weigh 31.1 grams each...see link below!

https://www.kitcomm.com/showthread.php?t=104525

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Originally Posted by BushMasterBoy

Make sure they weigh 31.1 grams each...see link below!

https://www.kitcomm.com/showthread.php?t=104525

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and are really silver
http://petergill.webs.com/apps/forum...s/show/4146735

Rare earth Magnet (Neodymium) will also help as precious metals are not magnetic

Once you get to know the metal bouncing it ( for sound ) can tell a lot

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Originally Posted by alxone

always take the silver , never pay more than melt, hang on to it for a while , always sell at spot + 2

dont get suckered into paying more for a coin because its pretty or rare (leave that to coin nerds ) just stick to the basics and you will always come out ahead

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alxone where should I go in the Denver metro area to buy some silver. I don't own any and would like to start slow and learn but most importantly not get ripped off. PM me some info please. Thanks.

You can buy or sell silver at any coin shop. I like Dave's Gold and Silver exchange on Broadway. I don't care for Rocky Mountain Coin next door, they're too big and impersonal, and I always feel like a sheep to be fleeced whenever I've been in there. There's also a place in Littleton on Littleton Blvd. (can't recall the name) that's good, they have a different tax structure than Denver shops.

But NEVER go to any of those "Gold and Silver Buyers" that advertise in the paper with big ads or have some yutz out on the curb swinging a sign around. Unless you really enjoy a good fucking, that is. They're all crooks that will give you bottom dollar.

But silver is a GREAT investment, if you can afford to sit on it and let it grow. I started watching the price and dabbling in it about 12 years ago or so, and it was around $2.50 an ounce. Now it's $30+ an ounce, and it's currently at a low ebb, it'll go back up. I had a 100 ounce bar that I paid $275 for, that would be worth over $3000 now if I still had it. (damn bills)

When I started watching gold at the same time, it was in the $200-$250/ounce range, and now it's over $1660/ounce.

Precious metals are where it's at. If somebody's willing to pay you in silver bullion, grab it and run if you don't have to have cash immediately. Just cool stuff to have around too!

http://i18.photobucket.com/albums/b1.../100ozbars.jpg

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Originally Posted by seagoing3

alxone where should I go in the Denver metro area to buy some silver. I don't own any and would like to start slow and learn but most importantly not get ripped off. PM me some info please. Thanks.

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as ron said daves is a great place and you can also go to the tanner gun show and see neil . both are fairly priced and wont really try to hard to sell you something that you dont want .

Oh, try to stick with .999 bullion of some sort, like the 1 oz. rounds or bullion bars. The bars come in sizes from 1/2 oz. to 100 ounces. I'd personally avoid any "collectibles" like rare coins with values based on numismatic or collector ratings, but things like Silver Eagles, Maple Leafs, or any of the other coins produced by various governments are good, although they usually have a higher premium. Old US silver coins are good too, but those are only 90% silver, they're not .999, so they're priced different, but they're a definite in the market.

Avoid any silver that's kinda shady looking. People have been known to melt down 90% coins and cast their own bars, often with a slug of steel or lead in the middle, and try to pass those off as ".999 pure silver bars". So deal with a reputable shop and avoid that BS. Avoid pawn shops unless you know they have a stellar reputation. Many of them take great joy in boning unsuspecting suckers.

There's also a lot of "Commemorative" or "gift" coins/rounds/bars out there with Happy Birthday or some other stuff on them, there's all kinds of that stuff. Also most mining and processing companies made rounds and bars. Basically, if it's marked ".999 fine silver" on it and it looks professional, it should be the real stuff. Doesn't really matter what the subject matter is on the item, that has no meaning, just the ".999 fine" marking matters.

There's a place on Bowles just east of Wads called A World Of Coins (think the sign just says "Coins"). NO sales tax.

They have been very good to me. Small quantities = Spot +$3 for 1oz Silver rounds. A bit more for Eagles.

Thank guys I will check out Dave it the closest to me


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You've received some great advice. I second what everyone has said about the precious metal!! Take the silver! I almost always offer silver as an option when I'm buying something. http://www.coinflation.com/ is a good site for various pricing information.