I have several questions regarding investing in silver and gold.?
Me and my family recently got into investing in silver, and plan on investing in gold when funds allow. We have 4 American Silver Eagle coins, and plan on buying more, and I have enough money for a 10 ounce bar of silver. My investment intentions are buying silver and gold to keep as insurance for whatever may happen. I'm not worried about an apocalypse as much as my own well being (my main reason for investing), but also wanting silver if I'm left homeless, the dollar dies, the American system collapses, profiting at a later date when silver and gold are higher than today, etc. so I mostly plan on keeping the silver. My questions are:
I know there are 90% silver coins (junk silver) and people recommend you buy those for things like survival, but the inconvenience of the coins not having the silver printed or being exactly 1 ounce bothers me. Should I consider buying these coins?
I plan on moving up from bullion coins to bullion bars, and I have the cash for a 10 ounce bar of silver as of right now. Should I bite the bar, and continue on buying bars as well as coins, or should I buy bars whenever I can to avoid premiums on smaller 1 ounce coins (such as the American Eagles I have, even though I have acquired them for almost exactly spot on prices)?
My current plan is buying bullion silver coins (mainly American silver eagles, unless nice suggestions are given) until these coins are enough for gold American eagle coins then enough for gold bars (mainly 10 and 100 ounces bars). Is this a smart choice, or should I work my way to gold bars by buying silver bars exclusively or a combination of silver bars/coins?
Basically I am asking how should I move up to 10 ounce and 100 ounce (maybe even 1000 ounce) gold bar and avoiding premiums. Should I get silver coins/bars exclusively, gold coins exclusively, or through a combination of these 3 options?
All help is appreciated.
I don't know if this was clear at first, but this is a (very) long term investment. I don't really expect to sell my gold or silver unless profits are amazing (like an earlier post mentioned, it would take many decades). My main reason for investing is security, and my ultimate goal is to store gold and silver bars. However, at the light of what a poster said, I'm considering collecting coins more now. My concerns with junk silver have not been addressed, but all help is appreciated and welcomed.
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