Silver coins/rounds question [Archive] - Colorado AR-15 Shooters Club Discussion Forums

LigersRCool

04-03-2013, 16:52

I couldn't figure what topic to put this under, so if there is a better one please move.

A little bit ago I thought I would get into purchasing silver every once in awhile, or try to get into buying them on a regular basis.
I will not be buying large amounts, this is strictly small time for me.

I picked up 5 - 1oz coins/rounds/bar (I wanted a mixture my first buy to see what they all looked like)
1- American Eagle
3 - Rounds from random mints
1 - bar from random mint - (this one was a grab bag pick and I got a Christmas scene on it LOL)

If I am just collecting these for possible sale/trade in the distant future does it really matter if I go with the American Eagles? Or can I go with the random mint rounds?
The random mint rounds cost a little bit less, BUT in the future even though they are the same silver are the American Eagles going to be worth more?

Thanks

ChunkyMonkey

04-03-2013, 16:55

Everyone has his/her own preference. To me and many, silver eagle and canadian maple leaf worth spot +premium while the rest are at spot and sometimes less.

alxone

04-03-2013, 17:03

Everyone has his/her own preference. To me and many, silver eagle and canadian maple leaf worth spot +premium while the rest are at spot and sometimes less.and to others like myself silver is silver , spot +1 or maybe +2 but never more and always the more you buy the cheaper it gets .

rondog

04-03-2013, 17:19

IMO, as long as it says "1 troy ounce .999 fine silver", it can have Santa Claus on it. I personally think 1oz. rounds or bars of any kind are better than paying a premium for Eagles or Maple Leafs.

You'll always pay a premium for E's and ML's, but you may not get that premium back, depending on condition. Those are "numismatic" or collectors coins.

Rounds and bars, you can beat 'em with a hammer, as long as they weigh correctly and still say .999 fine, they're worth the same. .999 fine is .999 fine.

Bullion bars or rounds will always hold more value, IMHO. That's all I ever buy. Wish I had the cash to load up, this is a good time.

Dave

04-03-2013, 17:46

I stick with 1 oz bars of silver. Too much premium put on American silver eagles and Canadian maple leafs that is dependent on another person valuing it the same. Silver prices are more set by market, and if SHTF all that will matter is if it is .999 pure silver or not. I typically buy bars from Silverthorne or APMX.

BlasterBob

04-03-2013, 20:01

Any comments on the Pre-64 coins, like our dimes, quarters and halves??

flan7211

04-03-2013, 20:05

Any comments on the Pre-64 coins, like our dimes, quarters and halves??

I buy half rounds and half "junk" pre-64 silver. Good balance for me.

LigersRCool

04-03-2013, 20:11

rondog

04-03-2013, 20:13

Good investments if you can find them or already have a stash. They're 90% silver and worth a helluva lot more than face value. Even worn or beat-up ones are very valuable. Of course, really nice ones may have some numismatic value if they're collectables, but most are just old pocket coins.

rondog

04-03-2013, 20:17

I was up at Blackhawk once and when I was cashing out my winnings I asked them for a couple rolls of half dollars.

I got 1, 66 Kennedy..that 40% silver I believe.

I check every single coin I am ever handed for the last 3 years since I learned about "junk silver" and I haven't found any that way :(

Funny.....years ago my wife was a convenience store manager in a working-class neighborhood in Syracuse, NY. She'd frequently get kids in her store buying candy with old silver coins and wheat pennies, that they probably "found" in their parents or grandparents goodies. She always bought them out of the register, she still has most of them.

Irving

04-03-2013, 20:18

I was given a Silver dollar for a graduation gift once, and had no idea what it was. I held on to it. I also have a Buffalo Nickle. I have no idea how I got the nickle, but I held onto that as well.

beast556

04-03-2013, 21:27

I go with Eagles or maples, I will do rounds also if the price is right. Rember always try to as close to spot as possible when buying.

sellersm

04-03-2013, 21:31

Nothing wrong with 90% "junk" silver! I tend to lean towards the plain rounds/bars, but sometimes I'll grab an SAE or a Canadian maple leaf if the premuim's really low. Just be careful of things that are commonly counterfeited, like certain Chinese coins (I think the panda is one?).

Here's a good website to determine value of the 90% coins: http://www.coinflation.com/

sellersm

04-03-2013, 21:34

Here's another thread on a similar topic that has some good information: http://www.ar-15.co/threads/81407-Silver-or-Cash

LigersRCool

04-03-2013, 21:42

Thanks everyone for replies! Good stuff!

hobowh

04-04-2013, 05:27

I like to have bot per 65 and .999 as some have already said. I keep a 70/30 split between the 2 oh and like the Mexican 2peso gold coins as well. As far as .999 I go with sunshine silvertowne and a couple other or ase and maple leafs o and philharmonics.

rockhound

04-04-2013, 06:01

I buy mainly MLs, for a few reasons, my dealer doesn't really charge a premium for them, i have not only silver, but alternative currency all rolled into one (if you are of a prepper mind), if you are of a prepper mindset then the maple leaf is $5 canadian, a eagle is $1 american so if the bottom falls out of the silver value then the ML has more face value in the end.

ray1970

04-04-2013, 06:48

I've been thinking about throwing some silver in the safe. Are most of you picking yours up locally or ordering it somewhere?

Thanks.

rockhound

04-04-2013, 07:10

if i wore a tinfoil hat, local cash deal

hghclsswhitetrsh

04-04-2013, 07:29

I like the eagles. I was buying them for $2.50 over spot. Which isn't bad. Don't ever buy there, but look at ebay for eagles. It's crazy what they'll fetch.

BigNick73

04-04-2013, 07:30

I buy a little of everything, ASEs, Maples, generics, SBSS stuff even though they take forever to ship, 90%, and bigcoins.com had some modern silver proofs they were selling and just a few cents more than the regular 90% which are really pretty and shiny and I like the 5oz silvertowne bars when the shipping is free. I like it all, don't forget to pick up some gold too, eagles, maples, and silvertowne had a decent price on old napoleon 20 franc coins a while back they might still be in stock. Think my next is going to be one of those big 6oz ASE look a likes.

If the price is right and/or you really like the design buy whatever , silver is silver.

hghclsswhitetrsh

04-04-2013, 07:34

25253

Spot price is under $27 right now.

Dave

04-04-2013, 07:55

I've been thinking about throwing some silver in the safe. Are most of you picking yours up locally or ordering it somewhere?

Thanks.
Mostly internet right now. You can usually find some free shipping deals and get close to spot prices there. I went to a pawn shop in Aurora to see what they had and they were not willing to negotiate out a price on some ML's. Spot price on the day I went in was 30.21 according to the etrade app on my phone which I even showed to them, but they were selling non graded ML's for 42.50. I was willing to go 34-35 each just because there can be a small premium for the coins and I could take them home that day instead of waiting. But, they would not go below 41, so I walked away. Stay away from buying on ebay too. I was bidding on silver bars, eagles, ML's and some 1 gram gold "bars" and was getting outbid by a huge margin. Some of them were selling for 25% over spot. I just signed up for a few reputable websites and get emails when they have specials. Holiday silver bars can be a good deal from mints. Still 1 troy oz of .999 silver, painted with a holiday scene, but they go discounted and free shipping after the holiday is over.

Blockhead

04-04-2013, 08:03

I just signed up for a few reputable websites and get emails when they have specials.

Any recommendations for websites? I've been wanting buy some silver recently.

rockhound

04-04-2013, 08:04

We buy local at spot all the time, never even considered buying at a pawn shop

hatidua

04-04-2013, 08:40

Don't ever buy there, but look at ebay for eagles.

Many, if not most, of the big established vendors have an eBay presence and it's often cheaper to buy from them on eBay than to buy from them direct as they have to be more competitive in terms of shipping costs on eBay.

rondog

04-04-2013, 08:45

Might check out www.jhmint.com

davsel

04-04-2013, 09:01

Any recommendations for websites? I've been wanting buy some silver recently.

http://www.apmex.com/Category/17/90_Silver_Generic_Bags.aspx

I only pick up cull quality 90% coins and various weight Krugerrands.
I figure if the SHTF, nobody is going to care how shiny or "collectible" my silver is.
More weight for the money with culls.

StevenP

04-04-2013, 19:43

http://www.coin-rare.com/
http://www.silvertowne.com/
http://www.gainesvillecoins.com/
http://www.goldmart.com/
http://www.moderncoinmart.com/store/
http://www.monarchpreciousmetals.com/
http://www.providentmetals.com/

the link below are reviews of some of the dealers listed above
http://www.goldismoney2.com/forumdisplay.php?8-PM-Dealer-Feedback

Dave

04-04-2013, 19:46

Any recommendations for websites? I've been wanting buy some silver recently.

Apmex and Silvertowne for me usually, I think there's a couple of Westminster mint bars too.

firefighter238

05-04-2013, 19:20

enthusiast

05-04-2013, 23:01

+1 for silvertowne also. I just bought more Mapleleafs tonight.

U.S. Money Reserve in the AARP mag of may 2013 has 1/10 ounce GAE for $149 each with $5-15 s/h/i, limit ten

rondog

05-05-2013, 00:43

I've been trying to diversify my silver, I have about 50/50 between bars and rounds, thoughts? Am I on the right track? Also does anyone here have any experience with Silver Shot? Was just wondering what if any benefits would be to partially investing in this rather than actual coins/bars. Thanks

I've been poking my nose around in the silver world for several years, but I've gotta admit.....I've never heard of Silver Shot until now! Just did some Googling about it, and now I want some. In the event that silver would ever need to be traded for goods, currency, food, ammo, etc., that shot would be the perfect trading medium. It's just not identifiable for purity like bars, rounds and coins are, but a coin/PM dealer should be able to ID it very easily.

Save the 1 oz. and larger stuff for larger trades/needs, and use the shot for currency like the old miners used to use "gold dust". I like the idea!

firefighter238

05-05-2013, 10:43

I've been poking my nose around in the silver world for several years, but I've gotta admit.....I've never heard of Silver Shot until now! Just did some Googling about it, and now I want some. In the event that silver would ever need to be traded for goods, currency, food, ammo, etc., that shot would be the perfect trading medium. It's just not identifiable for purity like bars, rounds and coins are, but a coin/PM dealer should be able to ID it very easily.

Save the 1 oz. and larger stuff for larger trades/needs, and use the shot for currency like the old miners used to use "gold dust". I like the idea!

That's exactly what I was thinking! I've been seeing more and more postings on various sites about the benefits of shot usage for bartering. Now does anyone happen to know of a reputable silver dealer in Colo that carries shot?

hunterhawk

05-05-2013, 11:51

How long does silvertown take to ship stuff out right now? I know more and more people are buying gold and silver so was just wondering what the wait times are. Thanks

StevenP

05-05-2013, 12:03

It usually takes 4-6 days to received my orders from Silvertown in the past. Not sure what the times are now with the dropped in silver and gold prices and the increased demands.

I have an order in with Goldmart (or is it Slowmart) and it's been over 2 weeks and my status is "payment received and processing" so I expect it will be over a month to receive that order.

sellersm

05-05-2013, 12:07

It seems they're all slow right now. My order from Provident took forever. Westminster Mint was a little faster as was Silvertowne.

Sent from my fat fingers using Tapatalk

firefighter238

05-05-2013, 12:10

I usually do most of my shopping at A Colfax Coin Center in Lakewood, good spot prices and REALLY honest /knowledgeable staff.

hunterhawk

05-05-2013, 12:32

Thanks firefighter.. Ill check them out

rondog

05-05-2013, 12:33

Finding silver for sale is only a little easier than finding ammo. High demand, low supply.

enthusiast

05-05-2013, 13:33

How long does silvertown take to ship stuff out right now? I know more and more people are buying gold and silver so was just wondering what the wait times are. Thanks

They are saying 2-3 weeks right now.

hunterhawk

05-05-2013, 14:10

got ya. Thanks.

firefighter238

05-23-2013, 22:16

Anybody have any for sale or know anyone selling? Are there other websites similar to silvertowne but NOT APMEX? They're a major rip off

sellersm

05-23-2013, 22:33

Coin-rare.com. Is the site for Westminster mint. Good prices and inventory. Also check out Provident Metals. I've gotten some from both very recently. If you want gold fractionals, they're hard to find right now.

Sent from my fat fingers using Tapatalk

enthusiast

05-23-2013, 23:18

Anybody have any for sale or know anyone selling? Are there other websites similar to silvertowne but NOT APMEX? They're a major rip off

I have not had any problems with APMEX and they have some good prices when things are on sale. Care to share?

I am eagerly waiting for this to be in stock. From Provident.

http://www.providentmetals.com/media/catalog/product/cache/1//9df78eab33525d08d6e5fb8d27136e95/d/t/dtom_silver_bu_obverse.jpg

firefighter238

05-24-2013, 17:43

I have not had any problems with APMEX and they have some good prices when things are on sale. Care to share?

I am eagerly waiting for this to be in stock. From Provident.

I'm not a fan of the minimum buy, especially when they charge an arm and a leg for shipping something the weights ONE OUNCE. Just sayin.

StevenP

05-24-2013, 20:38

Sounds like we need to do a group buy[Coffee]

sellersm

05-24-2013, 21:27

Independent living bullion has this, which is similar: http://www.independentlivingbullion.com/buy-metals/silver/dont-tread-on-me-boston-tea-party-silver-bullion-rounds-1-oz

I am eagerly waiting for this to be in stock. From Provident.

http://www.providentmetals.com/media/catalog/product/cache/1//9df78eab33525d08d6e5fb8d27136e95/d/t/dtom_silver_bu_obverse.jpg

Badger

05-25-2013, 11:53

rondog

05-25-2013, 14:37

Not to stray too far off topic but I just replied to a guy's e-mail where he was wanting to give me some silver for custom work on his Harley. (Is it anyone here?) This sort of set off a red flag for me as I don't know any who willingly give up their metals stash for custom "looks good" stuff. Besides, I'd have no idea to predict the value of it and figured it could somehow come back to screw me. Not sure if its somekind of scam but in the chances he's legit, I gave him the quote for paint work in cash and told him those are the only acceptible terms, otherwise well wishes and find someone else. Just thought it was strange and figured I'd share the info in case there is some sort of scam floating around.

Back on topic.

Badger

JMO, but if you need cash now for the work, insist on cash. But if you can afford to sit on the silver for an indeterminate amount of time, that could pay off well. Just make sure his silver looks like real stuff, as in commercially minted rounds or bars and doesn't look like it was homemade or home cast, and that it says ".999 fine silver" on it. Base your trade on the current spot price (Kitco.com), and sit on the silver until the price goes back up. There's a lot of reasons why it could possibly go up a LOT in the near future. Definitely more possible upside than downside.

Again, JMHO.

hatidua

05-25-2013, 16:36

Not to stray too far off topic but I just replied to a guy's e-mail where he was wanting to give me some silver for custom work on his Harley. (Is it anyone here?) This sort of set off a red flag for me as I don't know any who willingly give up their metals stash for custom "looks good" stuff. Besides, I'd have no idea to predict the value of it and figured it could somehow come back to screw me. Not sure if its somekind of scam but in the chances he's legit, I gave him the quote for paint work in cash and told him those are the only acceptible terms, otherwise well wishes and find someone else. Just thought it was strange and figured I'd share the info in case there is some sort of scam floating around.

Back on topic.

Badger

I've listed a fair number of guns and other things on here in the past with a cash price and a price in silver, as have others. It wouldn't set off a red flag for me, I'd actually quite happily take it but I may be odd like that...

roberth

05-25-2013, 16:44

I've listed a fair number of guns and other things on here in the past with a cash price and a price in silver, as have others. It wouldn't set off a red flag for me, I'd actually quite happily take it but I may be odd like that...

I'd take silver if I was selling something.

All this crap about gold and silver not being worth anything is just that...crap. Remember what people say, if you can't stand over it with your AR15 you don't own it.

StevenP

05-25-2013, 20:36

Just be careful, there are a lot of fakes silver out there. Even the government issue ones are getting harder to tell if they are real or fake. A quick search and you'll be surprised of all the knock offs out there.

rondog

05-25-2013, 22:50

I got a Swiss K31 from a member here, and paid for it with silver rounds. I've often wondered if he sold them right away or held onto them and made a nice profit.

I know what I'd have done, the same thing that I did! The value of them the day I traded them was a lot higher than what I paid for them, I gar-on-tee.

RonMexico

05-25-2013, 23:05

I check every single coin I am ever handed for the last 3 years since I learned about "junk silver" and I haven't found any that way :(

I have found about 3-5 that way
My brother got lucky at the gas station a few weeks ago, I guess someone paid in pre 64 silver dollars, and the kid said his draw doesn't need them at the end of his shift so he asked my brother if he could give them to him as change. I wish I got a free tank of gas.

Bailey Guns

05-31-2013, 23:00

Looking around for silver and found this:

https://store.nwtmint.com/product_details/5174/Box_of_10_1_oz._Silver_Bullet_Bullion_.45_ACP/

https://store.nwtmint.com/images/products/5174__orig.jpg

They have other "calibers" as well.

enthusiast

05-31-2013, 23:19

Those are pretty cool. If you want something a little cheaper you can buy them in copper.

http://www.providentmetals.com/1-oz-copper-bullet-45-caliber-acp.html (only 2.49)
http://www.providentmetals.com/media/catalog/product/cache/1//9df78eab33525d08d6e5fb8d27136e95/1/_/1_oz_copper_bullet_bottom_wm.jpg

I just bought a mess of these to give away to friends
http://www.providentmetals.com/media/catalog/product/cache/1//9df78eab33525d08d6e5fb8d27136e95/2/n/2nd-amendment-copper-rounds-obverse.jpghttp://www.providentmetals.com/media/catalog/product/cache/1//9df78eab33525d08d6e5fb8d27136e95/2/n/2nd-amendment-copper-rounds-reverse.jpg

http://www.providentmetals.com/media/catalog/product/cache/1//9df78eab33525d08d6e5fb8d27136e95/b/b/bbpc-01917-obverse.jpghttp://www.providentmetals.com/media/catalog/product/cache/1//9df78eab33525d08d6e5fb8d27136e95/b/b/bbpc-01917-reverse.jpg

Of course I bought some gold and silver. These are at a good price now.
10oz silver bar (235.99)
http://www.providentmetals.com/opm-10-oz-silver-bar.html

babirl

06-01-2013, 01:27

Those are pretty cool. If you want something a little cheaper you can buy them in copper.

...

I just bought a mess of these to give away to friends

...l (http://www.providentmetals.com/opm-10-oz-silver-bar.html)

There are some of those exact Cu coins that have been spreading around the COS region too! Pretty cool and inexpensive way to give something to friends, patriots or a lil' lagniappe Cajun-style... ;) (I ain't no cajun... Just know many!)

Provident also currently has a decent deal on 1-ozt OPM Silver/Ag rounds now if you don't have the powder to drop on a 10 ozt bar, want ten 1 ozt coins for a minimally higher premium or to add a few Ag rounds to justify/help offset shipping if you order some Cu coins: http://www.providentmetals.com/ohio-precious-metals-opm-1-oz-999-fine-silver-bullion-round-iso-9001.html.

The "big money" folks likely know better deals, but for ordering those Cu coins, adding a few pieces of Ag or even Au fractionals and <$20K, Provident remains a reasonable option. Yep, plenty of other dealers out there, but I haven't found these Cu coins "in bulk" anywhere else and those 1 ozt OPM's are a decent deal...

Note, much like the inflow of "evil" gun stuff into PR-KO, the demand for "physical metals" has been insane so don't expect next-day shipping, or even next-week shipping... I've personally never had an issue w/ Provident, your price is "locked" once you purchase but they're moving a lot of product so hurry up and wait.

B2

sellersm

06-05-2013, 10:21

They're in stock now!

http://www.providentmetals.com/dont-tread-on-me-1-oz-silver-round.html

Singlestack

06-08-2013, 09:27

rondog

06-08-2013, 09:44

Hey guys, as a newbie precious metals investor, why is the premium % much higher for Silver than Gold? For example, I can buy 1 oz gold Krugerrands for about a 4% premium (2013 American Eagles for about a 5% premium), but the "Don't tread on me" 1 Oz silver rounds from Provident for about an 11.7% premium. Is this just higher demand for silver than for gold?

This is only my opinion, but you're paying a lot for "collector value" on stuff like that. I believe plain old nothing special rounds and bars will be cheaper, as long as they say ".999 fine silver" on them somewhere. And I've always dealt with small local coin shops, never any "supershops", pawn shops, or online dealers. Low overhead means lower prices, and no shipping costs.

I'd much rather have a 1 oz bar of plain silver for a cheaper price than a 1oz showpiece silver round that cost a lot more. I would also watch the spot price and buy on price dips if possible.

electronman1729

06-08-2013, 09:53

I got scammed this week and ended up with ".999 fine german silver"

be careful

HoneyBadger

06-08-2013, 09:54

I got scammed this week and ended up with ".999 fine german silver"

be careful
What's the difference? how did you get scammed?

BigNick73

06-08-2013, 19:35

What's the difference? how did you get scammed?

There's no silver in it. AKA Nickle Silver. You usually see it on ebay with the german part in fine print.

electronman1729

06-08-2013, 21:06

There's no silver in it. AKA Nickle Silver. You usually see it on ebay with the german part in fine print.

yep

Thats how i got scammed. Now i will only buy my silver at the tanner. I bought some at the last tanner and the deal went great.

In my Opinion the best way to buy silver is at the tanner gun show from people that dont have a shop so their overhead is really low and thus spot can be a little lower as well

rondog

06-08-2013, 21:18

I don't think I'd buy silver at a gun show, that sounds like a good way to get fucked over too. People melt old silver coins and sell them as bullion bars ya know, but that's only 90% silver. And pawn shop.....NFW. I usually go to Dave's Gold and Silver Exchange on Broadway, he's a good guy. Any coin shop will do, but that big place on Broadway, Rocky Mountain Coins, they don't impress me too much. They're too big and it looks like they have high overhead to maintain.

roberth

06-09-2013, 11:58

I prefer to buy silver at Tanner. I can see exactly what I'm getting, if I don't like the price from one vendor I can walk a couple of rows and see another vendor.

brokenscout

06-09-2013, 12:12

Silver & Gold will be useless , buy Ammunition and Firearms:).

Teufelhund

06-09-2013, 12:26

Spot price of silver has been trending down lately, and it dropped quite a bit on Friday. Under $22 right now. Good time to buy, unless you want to wait and see if it trends down some more.

I've bought a bit of bullion from Westminster Mint. If you pay by check, they wait 10 days after the check clears before they ship your purchase, so it takes almost a month to get your coins from the time you make the purchase. The shipping was very quick though (2 day), comes through USPS and requires a signature. I've been very happy with the silver I've gotten from them.

Richard K

06-09-2013, 16:56

HoneyBadger

06-09-2013, 17:00

Well, I listened to all the financial analyists who predicted the price of silver was going to double or triple. I pulled money out of my retirement accounts and bought 1,000 2012 Silver Eagles @ $40.25 each. Immediately thereafter the price of silver started dropping and is now just slightly over $22! If it weren't for bad luck I'd have no luck at all!
I'll kindly take them off your hands for spot + $3 each! [Muaha]

In all seriousness, keep hanging on to them... Silver is definitely going to go back up real soon!

sellersm

06-09-2013, 17:05

Well, I listened to all the financial analyists who predicted the price of silver was going to double or triple. I pulled money out of my retirement accounts and bought 1,000 2012 Silver Eagles @ $40.25 each. Immediately thereafter the price of silver started dropping and is now just slightly over $22! If it weren't for bad luck I'd have no luck at all!

They're still worth more than the paper that backed your retirement account!!

Hang onto them. They are for longterm.

Sent from my fat fingers using Tapatalk

Richard K

06-09-2013, 17:19

I'll kindly take them off your hands for spot + $3 each! [Muaha]

In all seriousness, keep hanging on to them... Silver is definitely going to go back up real soon!

Sure hope you're right!!!

lex137

06-09-2013, 18:56

I plan on buying 10oz bars before it jumps back up.

hatidua

06-09-2013, 19:38

Well, I listened to all the financial analyists who predicted the price of silver was going to double or triple. I pulled money out of my retirement accounts and bought 1,000 2012 Silver Eagles @ $40.25 each. Immediately thereafter the price of silver started dropping and is now just slightly over $22!

If the financial analysts were any good, they'd be pushing silver even harder now at $22 than they were at $40. Commodities rise and commodities fall, buying cheap tends to have merit in the long term....or so the story went.

sellersm

06-28-2013, 18:56

If you're in Wisconsin, you can pay for your meal with pre-65 dimes, coins! http://www.theblaze.com/stories/2013/06/28/the-fascinating-reason-why-a-wis-restaurant-gives-huge-discounts-to-customers-who-pay-with-coins-minted-before-1965/

If you haven't looked lately, great time to buy!

Circuits

06-28-2013, 19:40

After closing around $18.50 the last two days, spot is up to $19.66 today on silver.

roberth

06-28-2013, 19:44

After closing around $18.50 the last two days, spot is up to $19.66 today on silver.

I saw that too.

Is it a blip up during a downturn? Is it a signal that silver is going to climb for while?

enthusiast

06-28-2013, 19:50

Provident has a good sale going on right now for 10oz bars. Free shipping (STACKOPMTEN) and $1.19 over spot. I bought some when they were under 200, today I see them at 208. I am hoping they dip again before the free shipping ends as I want to buy more.

http://www.providentmetals.com/media/catalog/product/cache/1/image/300x/9df78eab33525d08d6e5fb8d27136e95/o/p/opm-10_oz_silver_bars_watermark.jpg
http://www.providentmetals.com/opm-10-oz-silver-bar.html?ref=slideshow

Circuits

06-28-2013, 22:15

I saw that too.

Is it a blip up during a downturn? Is it a signal that silver is going to climb for while?

I'm not a metals speculator, but my gut says no. My personal strike price for silver is $15.

roberth

06-28-2013, 22:47

I'm no speculator either, just follow it and buy when I can.

Brian

06-29-2013, 23:23

So apparently you can also set up an IRA with silver and gold you physically own? Read a bit about that tonight, and it confused the heck out of me.

enthusiast

06-29-2013, 23:57

I plan on rolling a couple of IRA's and using Mcalvany. http://mcalvany.com/

I will let you know what I find out on Tuesday.

firefighter238

07-02-2013, 21:31

So this is a little off subject but I was wondering if any of us who dabble in precious metals buy any foreign currency? I keep hearing nothing but ultra-positive things about the Iraqi Dinar and $100 buys you about 116000 Dinar. If the value even goes up by 1 cent thats an $1160 profit. Apparently the country is going to be allowed to trade its currency internationally very soon and the value is almost sure to increase. Thoughts? I'm not one to invest in other things and I certainly don't believe "get rich quick" schemes but the research seems sound.

Irving

07-02-2013, 21:41

You've got my ears perked up.

roberth

07-02-2013, 21:48

So apparently you can also set up an IRA with silver and gold you physically own? Read a bit about that tonight, and it confused the heck out of me.

Why buy metal through an IRA when you can buy it locally, take it home, and put it in your safe.

firefighter238

07-02-2013, 21:50

You've got my ears perked up.

Same here. I've been doing LOTS of research, not just the first few pages that come up on google search. All the negative articles I can find are several years old. And all the good ones are within 6months to a few weeks ago. I have checked into the status of the Dinar being able to be traded as a currency rather than an "exotic" currency. Everything I can find seems to verify this but again, I know its a gamble.

Irving

07-02-2013, 21:55

Unfortunately, I had to deplete a lot of my investment savings recently, but I'm interested in where you can purchase this currency.

Brian

07-02-2013, 22:26

Why buy metal through an IRA when you can buy it locally, take it home, and put it in your safe.

Yeah I wondered that too. I guess the point was that you could invest in metals instead of stocks in your IRA? Seemed weird to me as well.
It was pointed out to me that you owe taxes on that silver and gold in your safe when you sell it and make a profit, so maybe that's why the IRA is used...?

Irving

07-02-2013, 22:42

Yeah I wondered that too. I guess the point was that you could invest in metals instead of stocks in your IRA? Seemed weird to me as well.
It was pointed out to me that you owe taxes on that silver and gold in your safe when you sell it and make a profit, so maybe that's why the IRA is used...?

Might be a lot more money to invest from an IRA than available cash.

rondog

07-02-2013, 23:43

Never put money in silver or gold that you can't hold in your hand and walk out the door with! A paper "certificate" or numbers in an account that "say" you own xxx amount don't mean shit. They may tell you that your metal is safe and secure, and that you can have it anytime, but they may also have sold 100 times more than the amount they actually HAVE on hand! If everyone suddenly demands their metal, the company will go tits up and a whole buncha people gonna be fucked. Only buy physical that you can take immediate possession of.

Metals "held" in an IRA? Yeah, right.

Dryfli

07-03-2013, 00:34

rockhound

07-03-2013, 07:21

Yeah I wondered that too. I guess the point was that you could invest in metals instead of stocks in your IRA? Seemed weird to me as well.
It was pointed out to me that you owe taxes on that silver and gold in your safe when you sell it and make a profit, so maybe that's why the IRA is used...?

Only over a certain amount would you owe taxes, silver in the safe can be traded, if it is foreign currency cannot be recalled, the ira gives you a tax deduction but makes all your metals taxable and traceable

rondog

07-03-2013, 08:01

On a funny side note I stopped by the pawn shop yesterday on the off chance they might have a few silver dollars. I've been in there a bunch of times before and they never had anything. To my surprise they had 7 Morgan dollars 1881 ect. Nothing special they had obviously need cleaned, I asked to see them I knew silver was under $20 an toz. What really surprised me was the price 54.95 each??!??!! Need less to say I didn't buy and and was too afraid to ask what they wanted for the 1915 $2 1/2 dollar gold Indian coin

That's because those were old US coins and "collectable", so they have a big premium tacked on. And they're only 90% silver. And it was a pawn shop.

Go to a COIN SHOP, and look for BULLION coins. They're not monetary coins, they're essentially pure silver stamped into coin form, called "rounds". They don't represent any currency and have no collectable premium, they only represent what they are.....which is one ounce of .999 pure silver, and their value is based on the price of silver, not a collectable value. Also look for silver bars, they run from 1/2 ounce to 1000 ounces.

roberth

07-03-2013, 08:08

Dryfli

07-03-2013, 18:09

I know I've bought plenty of rounds and silver dollars I just thought the outrageous price was funny

roberth

07-22-2013, 11:13

will the sudden uptick hold?

Batteriesnare

07-22-2013, 11:21

It hasn't recently, but we'll see. Great buying opportunity right now!

will the sudden uptick hold?

roberth

07-22-2013, 11:27

It hasn't recently, but we'll see. Great buying opportunity right now!

Yes

rondog

07-22-2013, 11:28

will the sudden uptick hold?
No way to predict that, but who knows? People have been predicting for years that all Hell could break loose in silver anytime. This pullback could be an excellent opportunity, or it may languish longer. Many believe silver's being illegally suppressed by BIG money players who are using it to generate huge amounts of cash.

There's supposedly far more silver traded on the futures market than there is produced every year, so there's supposedly a supply/demand deficit. There's a lot of analysts saying there's not enough supply to meet the demands, yet the price is way too low. I just wish I had the means to load up on it while it's down right now.

roberth

07-22-2013, 11:39

/snip

There's supposedly far more silver traded on the futures market than there is produced every year, so there's supposedly a supply/demand deficit. There's a lot of analysts saying there's not enough supply to meet the demands, yet the price is way too low. I just wish I had the means to load up on it while it's down right now.

Paper vs physical. People sell paper shares of physical metals, selling the same ounces over and over again, wait til the paper holders try to collect on the physical metals.

The banks are doing the same thing with financial instruments like the mortgage on your house.

Sawin

07-22-2013, 11:40

I'll keep watching it the next few weeks and reading. There's speculation either way, but silver's up 5% just today...

ChunkyMonkey

07-22-2013, 11:44

While silver bullion is one of the better way to leverage against the inflation, look into numismatic silver also. My ms70 silver from the 2000s worth upto 10x the current silver spot price now.

sellersm

07-22-2013, 11:52

I just wish I had the means to load up on it while it's down right now.

^This.

Sawin

07-22-2013, 12:03

While silver bullion is one of the better way to leverage against the inflation, look into numismatic silver also. My ms70 silver from the 2000s worth up to 10x the current silver spot price now.

If I had any, I'd sell them now and convert to bullion. But that's just me.

IMHO and the way I understand it, a large portion of the value of numismatics comes from their historical/collectable contexts, not solely the metal content of them. If currency devaluation like inflation or reserve currency changes were to occur and a true "economic collapse" takes hold, the historical and collectable aspects could be worth moot. The metal content is the only thing that really has any level of assured future value... maybe I'm wrong, but I opt for the cheap .999 bullion rounds and ingots, and will not pay a premium just to have the collectable ones like Eagles, Pandas, etc for the same reason...

rondog

07-22-2013, 12:04

I used to have a 100oz. Englehard bar that I bought for $285, it was awesome! Also used to have a sackful of rounds I bought under $5 each. Had to sell it all years ago to pay bills. What I still have I bought around $13, I think. I'd like to have a safe full of just silver! I really believe there's more profit potential there than in gold. Silver can easily double from where it is now, or triple. Could gold?

ChunkyMonkey

07-22-2013, 12:09

If I had any, I'd sell them now and convert to bullion. But that's just me.

IMHO and the way I understand it, a large portion of the value of numismatics comes from their historical/collectable contexts, not solely the metal content of them. If currency devaluation like inflation or reserve currency changes were to occur and a true "economic collapse" takes hold, the historical and collectable aspects could be worth moot. The metal content is the only thing that really has any level of assured future value... maybe I'm wrong, but I opt for the cheap .999 bullion rounds and ingots, and will not pay a premium just to have the collectable ones like Eagles, Pandas, etc for the same reason...

You actually hit 2 birds w/ one stone by collecting numismatics. Sold my 1986 ngc ms70 1 oz silver eagle... for $670. I have a collection of complete silver eagle.. ms70 and ms69 from 1986-2013. In Bullion, it's only worth $560. Care to estimate the ms70 value? :D

roberth

07-22-2013, 12:10

If I had any, I'd sell them now and convert to bullion. But that's just me.

IMHO and the way I understand it, a large portion of the value of numismatics comes from their historical/collectable contexts, not solely the metal content of them. If currency devaluation like inflation or reserve currency changes were to occur and a true "economic collapse" takes hold, the historical and collectable aspects could be worth moot. The metal content is the only thing that really has any level of assured future value... maybe I'm wrong, but I opt for the cheap .999 bullion rounds and ingots, and will not pay a premium just to have the collectable ones like Eagles, Pandas, etc for the same reason...

You're thinking like a prepper and that is a good thing! An ounce is an ounce is an ounce, when the balloon goes up no one will care that the coin is a 1887 whatchamacallit.

ChunkyMonkey

07-22-2013, 12:24

You're thinking like a prepper and that is a good thing! An ounce is an ounce is an ounce, when the balloon goes up no one will care that the coin is a 1887 whatchamacallit.

While it's good to think like a prepper... it's also good to have financial stability and growth. When the SHTF moment comes, you will be ready no matter what - til then, some of us actually triple/quadruple our silver every few months by making the right investment.

roberth

07-22-2013, 12:42

While it's good to think like a prepper... it's also good to have financial stability and growth. When the SHTF moment comes, you will be ready no matter what - til then, some of us actually triple/quadruple our silver every few months by making the right investment.

I understand your perspective and point ChunkyMonkey, my investment experience is not the same as yours so I'll just stick with non-numismatic metal.

sellersm

07-22-2013, 12:45

Speaking of collectibles, did anyone jump on the 25th anniversary AE 5 coin silver set that the Mint put out in 2011? The one that sold out in a few hours and crashed their servers all day? They were selling for like $299 and on eBay for over $800 shortly after...

ChunkyMonkey

07-22-2013, 12:47

Brian

07-22-2013, 13:08

I have an opportunity later this week to take a look at my grandfather's coin collection before it is boxed up and picked up by my uncle. Unfortunately, none of it is anything that's headed my way, but anything I should look out for that might be interesting to see? I know they've already located a gold kruggerand and a gold maple leaf, so that's cool. Supposedly the majority of the collection is misc coins. All of it will be pre-1980 when he died and as I've seen parts of it before. I know some is much older. I have a couple of the blue penny books I was given as a child. They're not full, but fun family history. I'm looking forward to hopefully seeing in person the difference between older silver coins and the current stuff.

I know there's some silver coins or bars in there too, but don't know much beyond that. Supposedly there are boxes and boxes as he was a banker at one point in his life.

Sawin

07-22-2013, 13:16

You actually hit 2 birds w/ one stone by collecting numismatics. Sold my 1986 ngc ms70 1 oz silver eagle... for $670. I have a collection of complete silver eagle.. ms70 and ms69 from 1986-2013. In Bullion, it's only worth $560. Care to estimate the ms70 value? :D

The sky's the limit and you've got a terrific thing going as long as you're viewing them as an investment in a stable economy. My point is that if something gives way and the economic environment changes... you will not be able to turn their value in to anything useful, at least not in the short term, and at least not their ACTUAL value. Your kids might someday, assuming they keep them safe and don't swindle them, but for purposes of flexibility and stability irrespective of economic condition, I won't commit that much $ to them...

ChunkyMonkey

07-22-2013, 13:34

The sky's the limit and you've got a terrific thing going as long as you're viewing them as an investment in a stable economy. My point is that if something gives way and the economic environment changes... you will not be able to turn their value in to anything useful, at least not in the short term. Your kids might someday, assuming they keep them safe and don't swindle them, but for purposes of flexibility and stability irrespective of economic condition, I won't commit that much $ to them...

Understood. In my case, I dont have a penny in stock. All of my IRA is either in properties, silver and gold. I think you misunderstood the whole certified coin thing... because like silver and gold its price increases tremendously during recession and market instability. I also have easier time selling them compare to bullion. For some reason noone wants to buy my bullion at market price, while, I keep buying bullions at market plus premium -- so I am losing real dollar money on bullion.

As like many of you I dont believe in US$ any longer. However, to me a bullion in the safe is like US$ in the bank.. earning nothing at the inflation rate. This may sound real corny, but I watched rich dad poor dad seminar in 2009, and Robert Kiyosaki convinced me. Part of his teaching is Silver and gold as one of asset classes. We have monthly delivery of silver eagle tube, and few ms70 from NGC. Making tons of gain out of properties and numismatic silver... plus it's not trackable by the big brother hint hint.

Sawin

07-22-2013, 13:42

Understood. In my case, I dont have a penny in stock. All of my IRA is either in properties, silver and gold. I think you misunderstood the whole certified coin thing... because like silver and gold its price increases tremendously during recession and market instability. I also have easier time selling them compare to bullion. For some reason noone wants to buy my bullion at market price, while, I keep buying bullions at market plus premium -- so I am losing real dollar money on bullion.

As like many of you I dont believe in US$ any longer. However, to me a bullion in the safe is like US$ in the bank.. earning nothing at the inflation rate. This may sound real corny, but I watched rich dad poor dad seminar in 2009, and Robert Kiyosaki convinced me. Part of his teaching is Silver and gold as one of asset classes. We have monthly delivery of silver eagle tube, and few ms70 from NGC. Making tons of gain out of properties and numismatic silver... plus it's not trackable by the big brother hint hint.

Doesn't sound corny at all man, I think you're doing a great job. You've found a method that you fully understand and are doing well at. I completely see what you mean with regard to the numismatics as long as you're actively realizing those gains, not just calculating them on paper. I suspect you are capitalizing on the gains too, you're no dummy.

roberth

07-22-2013, 14:15

I like your work in this area ChunkyMonkey, thank you for the extra explanation. That bullion will have real value in time, short term maybe you're losing money, I think long term will be completed different.

I did a quick google on NGC and MS70

http://www.ngccoin.com/coingrading/grading-scale.aspx

http://www.apmex.com/product/73720/2013-4-coin-gold-american-eagle-set-ms-70-ngc-early-releases

http://www.ebay.com/bhp/gold-eagle-ngc-ms-70

sellersm

07-22-2013, 15:13

plus it's not trackable by the big brother hint hint.

Yet. Folks from some other countries may have a different story.

I see the value as you've laid it out. We can follow some key principles discussed here: cash transactions, hold the asset (no paper trading), reinvest in more assets, etc.

Good discussions. We may all have different goals so our strategies may differ a bit.

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