JM Bullion Normal Price Equals APMEX Sale – Better Bar?
With Silver prices down, we have been buying weekly for various accounts; usually from JM Bullion since their Silver price seems to be the lowest. Over the weekend they had a special on 2014 Silver Eagles of 2.49 over spot, any quantity.
For the last couple of days APMEX has had their 10 ounce APMEX Silver Bars available for $0.89 over spot, any quantity – which is a good price.
However, since we normally buy at least 10 bars, or 100 ounces, JM Bullion’s price on the more generally accepted Sunshine Mint bars is exactly the same price – everyday! With JM Bullion you can get Free Shipping even on small orders. The aforementioned 10 x 10 ounce Silver Bars will cost $14.95 to ship from APMEX where you need a $5000 order to qualify for free shipping.
So when you combine the fact that the Sunshine Mint bars are sold – and therefore more generally bought back – most anywhere, we feel them slightly preferable to the APMEX bars even though the actual quality of the Silver and the bar are just fine. We would be happy to buy either from a desperate seller!
There will come a day when the sellers will be desperate; so it’s a good idea to always have some cash on hand to take advantage of this desperation situations. Silver has been money for thousands of years and we don’t think the Federal Reserve will change that any time soon.
Besides, the Fed does not reach across oceans when it comes to changing hearts and minds… only fallible governments. And governments have a tendency to change hands in many areas overseas. We are putting our faith in God first, then Gold & Silver and basically none in “the Fed”.
APMEX vs JM Bullion On 100 Ounces of Silver Bars
So tonight we are going to let the APMEX 89 cents over spot deal expire without buying. We can get the Sunshine Mint bars at the same price from JM Bullion and save $14.95 on shipping besides. Hey, that’s enough to buy lunch for two tomorrow.
Bottom line is that we like both APMEX and JM Bullion. We like both APMEX Silver bars and Sunshine Mint Silver bars (which APMEX sells too). But as we have emphasized time and time again – you make money when you buy, so buy as low as possible, all other things remaining equal.
The Biggest Mistake Buying Silver
Personally – and this is NOT investment advice – we feel the biggest mistake buying Silver right now is not buying enough of it while the price is under $20 per ounce spot. Can it go lower? You betcha! Especially as long as JP Morgan et al have the power of the US G in their back pocket to mitigate any potential losses in their trading.
Smarter minds than us, though, including Richard Russell, seem to think that Silver is a good buy here. So that’s what we are doing with our money and the clients who listen to us.