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 Replies: 88 / Views: 8,975 |
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Pillar of the Community
United States
7193 Posts |
So, do the banks in Utah accept ASE's or 90% for silver value or just face now that they have put out a law about silver and gold as currency? |
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Pillar of the Community
United States
3670 Posts |
Dave, if you have enough to invest in a substantial amount, I would say buy silver asap. Hoping for a day of sub 30 silver may never happen again, so if you wait for it to drop, it may be on its way in the other direction up to 75 or 100 an oz, then you would be out of the mix for sure....
If one bought 1000 oz of silver today, it would run around 46,000 bucks, but hey if silver hit 100 an oz, it would be worth just over 100,000 dollars. So it is not to late to still make some money on an investment, but that window is closing fast for most....
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Bedrock of the Community
United States
14454 Posts |
it is getting to the point where it is getting scary when you are talking about purchasing at the current prices as an investment. The Hunt Brother days comes to mind here and even though this is a totally different situation I still think about talking to the guys that bought in at 45.00 and have had to hold onto their "investment" for more than 30 years to even break even. So its at the point that if you have expendable income that you do not expect to need for that amount of time and if you do not make a profit that is fine with you then there is a chance of making money in a short amount of time but be prepared that you may need to keep this investment in your portfolio for quite some time before you can even get your money back that you invested
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Valued Member
United States
327 Posts |
This is the wrong time to be buying silver, or any other PM. the time to get in on a trend is the beginning. Now you are chasing it...scared money. Easy way to lose your shorts!
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Pillar of the Community
United States
4008 Posts |
Quote:
This is the wrong time to be buying silver, or any other PM. the time to get in on a trend is the beginning. Now you are chasing it...scared money. Easy way to lose your shorts! - SPQR
That IS the trick now, isn't it? Knowing what the market WILL do rather than what it HAS done? $45 silver looks expensive but only compared to $15 or $30 silver. Compared to $100 silver, it still looks cheap. Silver production is not keeping up with demand, especially from Asia. Ever cheaper dollars are putting upward price pressure on all PMs but especially silver. Silver is a lot more affordable per oz. than the other PMs, so many more people can buy a little of it. I agree that getting in on a trend at the very beginning is a real good thing but we have no idea where silver will eventually end up for a top price. What we do know is that all of the price pressure on silver now is upwards and that does not indicate a drop in price is coming any time soon. Just my $0.02 worth... and in silver at that!  |
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Rest in Peace
United States
9104 Posts |
Maples if Canadian, otherwise ASE or 90%. |
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Pillar of the Community
1283 Posts |
For the bargain price of $1060 delivered, overpriced but beautiful like a tall leggy blonde.   |
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Pillar of the Community
United States
737 Posts |
Beautifyl ASE's Throwback. I wish I bought more Tubes when I did at 31.00. Oh well, happy to have gotten some at that price at least. |
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Rest in Peace
United States
9104 Posts |
Oh, for crap's sake, they already have comic books slobbed so you can't read the darn things, now they're slobbing rolls of bullion. Wonder how long it will take someone to make fake rolls with two real ASE on the ends and plated copper slugs in between. And the market demanded this because there have been so many reports of counterfeit ASEs, right? |
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Rest in Peace
United States
4849 Posts |
From DNA: Quote:Since I do have silver at home, my answer is different. I'm buying better-date to key-date numismatic 90% Silver coins. Why? Bullion value has surpassed (traditional) numismatic value for many common 90% Silver U.S. coins, while better-date coins have stayed in the same value range. Thanks to the rapid rise in spot price, I already have better-date coins that I purchased for less than their current melt value. If the current spot rise continues to the end of the year, a few of my low-grade Carson City Morgan dollars will be worth more in melt value than what I paid for them. The fact that I can say "Carson City Morgan dollars" and "melt value" in the same sentence (without any sarcasm or irony) should get your attention! Example: My most recent purchase was a 1938-D Walking Liberty Half-Dollar. A coin that could have easily fetched $40 back when silver was $5 an ounce and bargain bins had 90% silver Halves for $2. (in other words, a '38-D Walker was worth twenty times its melt value) Now, every 90% Half is worth $15, and I picked up a '38-D for $40. (only 2.67 times its melt value) If silver hits $110.67 an oz., all 90% Halves would be worth $40 and at that point I would have acquired my 1938-D for "melt value". If silver crashed back down to $5.00 an oz., the '38-D was worth $40 the last time silver was $5 an oz. Two reasons why buying "better date"-to-"key date" silver coins is the best strategy right now, whether you have no silver or lots of silver. This is a really good point, and one that I see as a sound plan for making sure you hold coins that always have value. There are a lot of better date coins that are going for melt these days, or small premiums above. The great thing about these type of purchases is that, in the event that silver takes a sudden fall, you will still have the numismatic value of the coins holding them up for value. And if silver goes up, they will continue rising with the price. One coin I've been looking into is the 1996 Silver Eagle. These usually only go to $5 or so higher than other silver eagles, though they used to command a much higher premium when silver was lower. This is a way to invest in silver without as much risk as with coins that will always only be worth melt. |
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Pillar of the Community
United States
2734 Posts |
Quote:
biggfredd: now they're slabbing rolls of bullion I'm with biggfredd on this one. What's NGC gonna do next, slab a green monster box of ASE's?    Edited by DNA
04/23/2011 3:04 pm
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Pillar of the Community
United States
1450 Posts |
NGC will probably6 do anything enougfh people are willing to pay them to do! This whole grading thing will ruin the hobby,it certainly helped ruin the sports card hobby. Until we,as collectors,no longer pay a premium for this crap(and that includes all of this "first strike" nonsense)they will keep finding ways to make more money. Before long these things will become like COA's in autograph collecting,everybody just laughs when you mention them and offer a MUCH lower price,they really become counterproductive.
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Pillar of the Community
United States
1450 Posts |
Biggfredd,I bet you still have a pile of those slabbed comic books laying around from the old B&M days don't ya'? Or did they all meltdown in the fire?
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Pillar of the Community
1283 Posts |
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Rest in Peace
United States
9104 Posts |
zig-
never owned the first slobbed comic. our customers could read.
Kid you not, ski (athens) had a blind customer who invested in comics.
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Replies: 88 / Views: 8,975 |
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Posted 04/21/2011 3:01 pm
