Interesting idea on the silver each month. Are you buying coins from the mint or what?
I got the idea after reading the novel "Lights Out" that was circulating on these boards during March. Some seem to think that if TEOTWAWKI occurs, paper currency would be useless, although silver and gold coins could still be used in trading.
I started by shopping around different dealers and explaining my objective: acquire silver in small amounts each month to prepare for a financial crisis. I explain that because I'm a school teacher, I can't afford large bars. I'm also not interested in collector quality coins - I'm basically interested in silver only. Gold is too expensive for my budget at the present prices.
There's quite a few gold/silver dealers in the DFW area to choose from. I'm using two methods. The first is to buy a silver round (1 ounce) type of coin. There's no official denomination or country of origin, but they often are created by large precious metals dealers (like Eberhard). I could just buy a small one-ounce bar. Both are fairly close to the exchange price of silver.
A second method is to go through the "junk boxes" of some coin dealers. Sometimes they have pre-1965 silver quarters or dimes that are not in a collectable condition. They usually charge a little above face in order to get rid of them.
A final method, although more expensive, is to purchase silver coins produced by the US mint: Silver Eagles. There is a markup on these (perhaps $1 - $1.50) per ounce because collectors sometimes seek these coins rather than just silver accumulators.
If anyone has suggestions on how to do this effectively and cheaply, I'm all ears
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