Gold/Silver coins

Gold/Silver coins

This is a discussion on Gold/Silver coins within the Off Topic & Humor Discussion forums, part of the The Back Porch category; I understand that Gold and Silver coins are worth alot these days. I also understand that this is NOT the time to buy. When would ...

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  1. #1
    Senior Member Array bunker's Avatar
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    Gold/Silver coins

    I understand that Gold and Silver coins are worth alot these days. I also understand that this is NOT the time to buy. When would the right time to buy, and what should i invest in? Are there certain websites that are trustworthy, or should i visit my local coin shop to start buying when the price drops lower? Bunker
    Last edited by SIXTO; December 20th, 2011 at 08:43 AM.
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    Member Array Horsetrader's Avatar
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    Understand that this is neither financial advice nor expert opinion, anything I say is just my personal experience and my personal opinion.

    In my experience local gold and silver stores have high overhead costs and limited stock, thus higher prices. In my experience I have found that Goldline has products currently priced and dependable delivery. I think physical gold is the way to go and would never waste my money on gold paper. Just saying. Your experience may vary.

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    I know several others who are happy in dealing with APMEX. Silver has really dropped recently, I'd think it might be a good time to buy?

    Not pro advice, just my observation.
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    If you can afford it, think it will go up, and feel it will be useful in the future, the nick of time comes just before the moment lost.

    I've had decent luck buying rolls of dimes and quarters off ebay. Watch for counterfeit high ticket items. Junk silver is affordable and has barter poential. A gas station in CA was offering a gallon for two dimes. Gold is a more compact way to preserve wealth, but you need to study methods of safe storage. Minted coins are more easily trusted for content. If you haven't already stocked everyday items and food for your family's use, precious metals (other than lead) should be secondary. What else can your family produce that will have barter value? I have several hundred pounds of organic whole wheat berries and whole corn that will keep indefinitely. With a hand grinder and heat source, corn bread cakes may help the neighborhood as much as my reloads.
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    Senior Member Array bunker's Avatar
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    I would preferably like to buy small denominations of gold/silver coins, for future sell off and to use if TSHF. I just spent about an hour reading on the usagold website. Very interesting to see the 20 year changes in the value of 1 ounce of gold. I am sick and tire of the stock market, and dont like the feeling of a certain percentage of my money being spent on "paper" stocks, bonds, etc. Looks like i have a lot of research ahead of me.
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    I don't think the question is when is the time to buy in so much as what should be the buying strategy? Invest a little, consistently, over time for the long term. This is a good strategy regardless of the investment.

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    You can always get the current spot price of gold(or the closest futures price which can be a close proxy for spot) at CME Group - Futures & Options Trading for Risk Management. You can purchase silver in bulk and in proof coins from the US Mint online at their website. They will direct ship it to you. You can choose to purchase proof coins, but the premium you pay for proof will be difficult to recover if you re-sell them in the short to mid term. The proof coins are beautiful specimens but are mainly for long term collectors. Before you buy or sell, check the spot price at CME group. I store some of my stuff in a home safe and some in a safe deposit box at a nearby bank.

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    There is an old adage, buy when everybody is selling and sell when everyone is buying. That is what's going on in real estate.

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    Now IS a great time to buy silver...now below $30.
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    I like KITCO, and have been a customer since 1999...Gold, Silver, Gold Price, Silver Price, Gold Rate, Gold News | Kitco ...gold will be part of the next monetary system, silver may be also, but silver is a precious metal that is consumed in industry...making its "value" easy to know, and now (currently) very unstable...and manipulated by dying central banks and governments. Just bought a 25 round roll...wish I could buy more...its down at this time, as the dollar is stronger due to Euros buying T-bills as they flee the banking collape in Europe...there will soon be a unraveling of vast fraudulent silver and gold "paper" holdings, ETF and the like as more and more "investors" take possesion of NY and Chicago exchange contacts for gold and silver..spot price will go UP...the real price for silver coin is E-Bay...buy the dips....good luck with your purchase
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    Quote Originally Posted by gunthorp View Post
    If you can afford it, think it will go up, and feel it will be useful in the future, the nick of time comes just before the moment lost.

    I've had decent luck buying rolls of dimes and quarters off ebay. Watch for counterfeit high ticket items. Junk silver is affordable and has barter poential. A gas station in CA was offering a gallon for two dimes. Gold is a more compact way to preserve wealth, but you need to study methods of safe storage. Minted coins are more easily trusted for content. If you haven't already stocked everyday items and food for your family's use, precious metals (other than lead) should be secondary. What else can your family produce that will have barter value? I have several hundred pounds of organic whole wheat berries and whole corn that will keep indefinitely. With a hand grinder and heat source, corn bread cakes may help the neighborhood as much as my reloads.
    Quote Originally Posted by ctr View Post
    I don't think the question is when is the time to buy in so much as what should be the buying strategy? Invest a little, consistently, over time for the long term. This is a good strategy regardless of the investment.
    I like junk silver myself... recognizably barter ready. Silver markets a bit more volatile than gold... but still increasing in value... Gold and silver are a store of value.... but, they can be stolen...

    Knowledge... that can't be taken away... barterable skills are more portable, more valuable, than any representation of money. It was an argument that I had a long time ago with an uncle of some repute... here's a link to his response:

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    You'd be surprised what shows up in pocket change. I've been checking my change I get back from purchases for a few years. I have a mason jar full of silver now. I snag a dime or a quarter here or there and drop it in the jar when I get home.
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    A few times a month I will go to the bank and pick up 20 or 30 rolls of quarters or halves, doesn’t take long to go through and pick out the silver, I then reroll them after replacing the silver an return them to the bank. With the economy being what it is right now people are digging out the coins in drawers, coffee cans, jars and any where else they have them squirreled away then rolling them and cashing them in.
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    Senior Member Array bunker's Avatar
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    Is it 1964 and before that was real silver??? how about nickels, dimes, and pennies????
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    Quote Originally Posted by bunker View Post
    Is it 1964 and before that was real silver??? how about nickels, dimes, and pennies????
    Quarters, halves and dimes were 90% silver up through 1964. The exception is halves dated 1965 to 1970, which were silver clad containing 40% silver.
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