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Valued Member
 United States
293 Posts |
Ed_B: "Well, at least it wasn't wasted!"
EXACTLY! LOL!
It's pretty cool that you've been able to hoard that much just since last March! Nice job! That's what I'm hoping to be able to do. And I completely agree with your incremental purchases instead of bulk. That's why I kick myself for not starting sooner, but oh well...can't worry about that now. I just have to do what I can from here going forward...
Ron2012Paul: Thanks and I agree. I'll probably add other denominations throughout, but I want to mostly pick up halves when possible. I'm thinking about getting a roll of dimes or quarters when I have a little money come in...we'll see...
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Pillar of the Community
United States
2168 Posts |
the Junk silver is a good way to go in my opinion and I have purchased some halves (less wear and I can get them for the same cost as dimes or quarters) All denominations are good to have especially if our currency goes bad. One thing I have done is search halves, so far I have searched $3000.00 and found 16 silver halves (kind of free silver or at face value) I have done this with nickels as well. Nickels I keep all I search, halves return to the bank. One other thing to think about is the proof silver sets that right now can provide proof value/quality at very close to spot (just a little over at $40/oz) Just another idea that if silver goes down, you have numismatic coins not just junk
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Valued Member
United States
362 Posts |
Its funny you should mention this. Last time I went to my local coin shop, they had a guy who bought a 500$ face bag...a huge bag of silver... I asked the dealer, and he told me the guy comes in every few weeks and gets bags of the stuff...
Wish I had that kinda money lying around...
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Valued Member
United States
293 Posts |
angel2004: I wish I had the $$$ to search halves. I can afford $50-100 every payday for bullion, but I just can't afford to tie up $1k at a time for searching. Even if it is still cash, it would be out of the bank account when I need it for bills and stuff. I like the proof idea too...I hadn't thought of that! Nice!
ICanSeeYou7687: Holy cow! I wish I had that kind of money to throw around!
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Pillar of the Community
United States
2168 Posts |
The boXes are $500 and sometimes tellers have rolls of halves available but not often in my experience. The $500 for halves is reused so its just the first $d00 and art of my emergency cash I keep. Just an idea. It can always be spent and you are not so quick to use coins so save money in the long run
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Pillar of the Community
United States
667 Posts |
You don't have to roll search by buying large amounts. You can just buy a roll or two then spend them on things like gas, lunch, beers, or what ever during the week.
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Valued Member
United States
293 Posts |
angel2004: That's actually a pretty interesting idea. For some reason I thought half boxes were $1k and I really can't afford to have that much tied up in searching, but I might be able to do $500! This is worth some serious consideration. Thanks!
mkfarm: I've done that in the past and have found a little here and there, but not much. And the banks around here seem to get rid of halves as soon as they come in, so I've had a lot of trouble finding rolls to buy. I kind of figured I'd need to order a box to be able to search.
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Pillar of the Community
United States
667 Posts |
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Pillar of the Community
United States
3294 Posts |
Think about it. You are not spending money on rolls. Your rolls of halves are still money. You just have coins instead of paper. You can spend coins (though you might get a dirty look if you use it for a large purchase). The only $ you are actually spending doing this is when you keep some of the halves.
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Pillar of the Community
United States
2168 Posts |
Exactly! And basically get silver at face value instead of many times face!
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Pillar of the Community
United States
1817 Posts |
Re: the silver proof sets... This is one way to go, buy just the State Quarters, which are .900, and 5 of them amount to 9/10th of an oz., but remember the advice about selling to dealers and receiving 10% to 20% below spot. Same goes for the ATB silver quarter sets, which are excellent buys at spot. The bonus is some sets might rise someday above their intrinsic value, such as the 1999 set. When you have them together, makes for an awesome display. Another thing you could is buy an empty ASE tube, and start filling it up with scruffy, toned, slightly damaged ASEs. As this series has been around since 1986, mishandling is common, dealers will buy these at a few % off of spot and sell either @ spot or $1.00 above it. If you buy from a private individual, sometimes you can get them for way under melt. A bullion investor would not care how they looked as long as they were recognizable, and would not get attached to them. Silver is silver! |
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Pillar of the Community
United States
2168 Posts |
Yes the 5 Q 2010is 39 95 and now spot is over 36 for 5 Quarters so not that much more than buying junk. Just a way to get quality for junk price. I have calculated the whole set allowing for silver value for the silver coins and adding 5 06 for non silver. That comes close as well especially for the 2010 year that cost less
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Pillar of the Community
United States
2168 Posts |
As an aside the proof silver eagle goes for 59 99 for an oz while the Proof annuals are much much less per OZ of silver
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Pillar of the Community
Canada
3692 Posts |
That "dimes" idea is pretty good, but honestly if it came to that there would be way more to worry about than money. I would go with Peace/Morgan dollars in your case. Once you get into bags with pounds you might find yourself happy with them in the future. Make sure you have a plan for selling. Although they are 90%, you may be selling them at a lower price than you originally thought because of the bulk weight. (Something to consider - not sure how you're redeeming your investment)
About getting too attached to bullion: I say that if it's slightly more desirable then you can sell it at a slightly higher price. If you find that silver has hit its peak for a while, buy some proofs while they're relatively inexpensive. (This actually may be risky in your situation.)
Bullion (1ozt) may be your best bet if you have children and want to pass down your belongings. I'll bet you they'll value the bars over junk coins anyday. They may want to hock the bag of coins yet ask more for the bars.
Good luck with everything!
Edited by Libertad
08/17/2011 2:00 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
Think about it. You are not spending money on rolls. Your rolls of halves are still money. You just have coins instead of paper. You can spend coins (though you might get a dirty look if you use it for a large purchase). The only $ you are actually spending doing this is when you keep some of the halves. This is EXACTLY what I tell my wife about my silver collecting. "Honey, I didn't SPEND any money... I simply converted one form of money into another. Unlike actually SPENDING money, I still have it!".  Not sure if she is 100% convinced but the grumbling HAS diminished quite a bit.  |
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Posted 08/16/2011 10:26 pm
