Buying Silver

[Jeff N.]

How are you buying Silver? I visited our local coin shop to buy some uncir. Silver Eagles, but they wanted $5 over spot. He said they are in demand right now and people are paying. The 1oz bars sell for $2 over spot, but he can't keep them in stock. I want to leverage in over the next two years, but I don't want to get ripped off doing this either, and I want to hold physical, not the index.

Anyway, ended up buying a few rolls of Silver Eagles at $37. But with so many people doing the same thing, I feel I'm buying into a bubble. But, with the administration saying the solution to cutting spending is to raise taxes, it gives me a little comfort that hedging into silver may not be a bad idea. Thoughts?