Author Topic: Any Advice for Australian First time Silver buyer  (Read 3143 times)

Offline warriorpoet88

  • Fledgling Prepper
  • *
  • Posts: 5
  • Karma: 0
Any Advice for Australian First time Silver buyer
« on: April 28, 2011, 06:56:55 AM »
exactly what it says on the tin gentlemen.

Im new to the idea of precious metal purchasing been reading alot of great info on what to do if your an American
but cant find anything specific for Aussie Preppers.

So should i just take the advice of "go coin hunting" in the local dealer shops here in Australia?


thanks

Offline LvsChant

  • Resident Master Mudder
  • Global Moderator
  • Survival Veteran
  • ******
  • Posts: 7433
  • Karma: 606
Re: Any Advice for Australian First time Silver buyer
« Reply #1 on: April 28, 2011, 08:18:01 AM »
I'd watch ebay australia for awhile to get a feel for what the market price is and what you might be able to find...

You may also be able to find some local coin shops with owners who could help. In the US we have some big quantity dealers like apmex and tulving who offer reliable online purchases... maybe something similar exists for you in Australia?

One thing that might be of interest to you also is that some of the vintage British military medals were made of sterling silver. Sometimes they are undervalued at pawn shops and antique stores... You may have to do some investigating to be sure of what you buy.

Offline TexDaddy

  • TSP Goat Wrangling Geezer. He is EVIL also.
  • Moderator On Leave
  • Forum Veteran
  • *
  • Posts: 12300
  • Karma: 265
  • I live in Texas. What country are you from?
Re: Any Advice for Australian First time Silver buyer
« Reply #2 on: April 28, 2011, 01:35:14 PM »
...So should i just take the advice of "go coin hunting" in the local dealer shops here in Australia?...
This.

Also, Australia produces some truly beautiful PM coinage. It may be possible to order directly from the Perth Mint.

The main thing to do is research your coinage and know what is out there and what is in each one. You may also want to look at old silver coins that Australia must have produced at one time. I like mostly US coinage because that is where I am. If I were in Australia, I would want mostly Australian coins. (BTW, I do have an Austrialian Sovereign.)

Offline excaliber

  • Survivalist Mentor
  • *****
  • Posts: 504
  • Karma: 26
  • gunning in Iraq
Re: Any Advice for Australian First time Silver buyer
« Reply #3 on: April 28, 2011, 04:14:49 PM »
I have bought 90% of mine on Ebay, just be sure and check a few things

1. buyer feedback, read the feedback, and see if it feedback for silver sold.
2. double check quantity and weight, their are a lot of 1/2oz and 3/4 ounce stuff, along with misrepresenting adds, make sure it's not silver clad, or Silver coated.
3. I will only buy stuff with both the weight and purity stamped into it, (example .999 and 1 ounce)
4. check shipping charges?
    a. along with shipping charges, some sellers combine shipping, so if you buy 4-5 coins from the same seller you save $$$, this
        also allows you to pay a bit more for the coins in his auction increasing your chances of winning.

5. be patient deals can be had, I set my maximum price I will give including shipping, then I bid on the items up to my max bid, I try and put my max bid in 8-10 seconds before the auction ends, if I loose, I go find another. and I will win about 1 out of 20, you just have to luck into the auction not many are bidding on. if you'll look and they have a number counter, most auctions have less than 20 views, so the competition is not real big.

I am going to wait a few days before doing any purchasing, Silver hit $49.00 today, and I think once it hits $50.00 their will be a
a mass amount of selling, $50.00 is a good round number, and I am sure lots of people are waiting for it to hit that magic number before they sell.
when this happens, I think the price will drop way down for a while, (supply and demand) then it ill correct it's self and push past $50.00 and head upward.

good luck,

Offline iggi

  • Fledgling Prepper
  • *
  • Posts: 8
  • Karma: 1
  • New TSP Forum member
Re: Any Advice for Australian First time Silver buyer
« Reply #4 on: May 29, 2012, 08:11:40 AM »
Hows the silver going?  I find that ebay is the only silvermarket that counts for me as you can buy and sell anytime and reliably.  For Australia, 10oz PerthMint bars, the 1966 50cents and the 1oz Kookaburras seem to be the de facto bullion standard (no numismatic factor).  Currently I focus on Kookas as they are quite limited in mint and are much known and loved official bullion around the world.  Also, the Queen is not going to live forever so that might be a numismatic factor one day I think. Wish though we had silver dollars, half and quarters like the US much more straightforward way to store silver as commodity AND money.

Offline TexDaddy

  • TSP Goat Wrangling Geezer. He is EVIL also.
  • Moderator On Leave
  • Forum Veteran
  • *
  • Posts: 12300
  • Karma: 265
  • I live in Texas. What country are you from?
Re: Any Advice for Australian First time Silver buyer
« Reply #5 on: May 29, 2012, 08:49:38 AM »
Are any of the pre-decimal silver coins still around in quantity?

Surely someone horded the silver coins before they all disappeared. That is where all U.S. silver coins went when they were phased out.

http://en.wikipedia.org/wiki/Coins_of_the_Australian_pound


Offline jpbearit

  • Survivor
  • ***
  • Posts: 165
  • Karma: 5
  • New TSP Forum member
Re: Any Advice for Australian First time Silver buyer
« Reply #6 on: May 29, 2012, 09:58:23 AM »
@warriorpoet88
I’m real interested to know how your silver buying is going.  I’m especially interested to know if you are finding any American minted coins or rounds down there.

News reports here are telling us that there are increasing numbers of Americans giving up their citizenship and taking up citizenship in Australia, New Zealand, and Southeast Asian nations.  The number appears to be small, but you can assume government and “government controlled media” lie.

I’m wondering if that equates to the precious metals markets there seeing some of our former currency.  It may mean nothing and it may be a stupid question. I’m just wondering?