Silver! Up! Up! Up!

I have a large fireproof to 1300F, 650lb gun safe bolted to the floor that I use for my coins and metals. I have a need to look at them once in a while. ;o) I just don't trust (misplaced maybe) banks,deposit boxes.

Well the new "pay someone to purchase and hold silver for you" program started yesterday (Friday) and silver jumped over a $1.00 in one day. If that is any indication of what is to come we had best buy silver while we can. Picked up another couple of eagles today at the coin shop as he had the boy's birth years lying there screaming "take me home" and you know me! Just can't pass up a coin in need!!! Oh, and for what it is worth those older Eagles cost me $16.50 apiece!!!

But you must keep in mind as a coin collector or limited investor the returns can be far more on a limited amount of money than investing the same money in a savings account or in many instances most CD's being offered by the banks at this time. You must look at it this way----You are saving money even if it is only $16 at a time and transferring it to precious metal which you can't readily spend so its easier to hold on to. If silver goes up to $25 or $30 bucks in a year or two how much would that same $16 make for you in a savings account in a year? Practically zilch! And, NOBODY knows you have the silver, when you bought it, where you keep it and when you sell it. Whether it is one eagle or 100 turning a profit of any magnitude on a low investment is by far better than other options we have been offered all of our lives. You might also consider the "big spenders" who invest thousands and millions daily or yearly in stocks are also buying up silver and gold at this present time which is helping drive the markets. Ask yourself why the "BIG" boys have turned to precious metals? Do they know something we don't?
For the most part I am just an average Joe with dreams just like everyone else. I work hard for my money and actually MAKING something off of a little of it without PAYING someone else to attempt to do it for me is by far more appealing than placing what little I do have to actually invest in someone else's hands. They get their money up front and don't lose a dime when you do. I will stick to collectable coins and precious metals and bid my time knowing, right or wrong, I did it myself!!!

Bryan1315 you have the right frame of mind as a collector! Enjoy what you have and the fact that you are able to have it! Hopefully some day it will be worth a little more (or a lot) and that will enhance the fact you held the items for so long. I went through some rough times in the last 6 months and have had to sell off coins I really didn't want to part with as replacing them down the road could be very very expensive but, at the same time, I must be thankful that I was a collector and had this private stash available as an emergency fund or I would have been in deep trouble as I went 11 weeks without work. I now have work but making far far less than I was accustomed too so a coin has to go now and then to make the old ends meet but knowing my collecting habits have served me well is more than enough to always keep me collecting!

Ageka I will always be able to say "At one time I owned one of those" which is rewarding to me and the fact any specific coin was able to actually provide for me and my family, regardless of how long I actually owned it, is a pretty unique feeling. Coins, and now gold and silver, have played an important role in my life and have involved my family throughout the years and having children take up the hobby and see the value in precious metal is also a plus as it is something I was able to pass on to them. Actually we should be thankful that everyone in the world does not collect as prices would be so high with demand far exceeding supply that we would all be hard pressed to ever fill a set of anything. There are millions and millions of people out there who just don't understand the "why's" and "hows" of collecting and the few people I have got involved through the years have never quit thanking me for the personal enjoyment they have found, the history they have discovered and the ability to save without really knowing you are saving money! It is indeed a very unique hobby and I really do like the old saying "Its the only hobby in the world where you can spend ALL your money and still have money left!" So true!
I always tell everyone, especially the newcomers that they MUST have in their minds every purhcase is long term and forever. If something good happens between now and then you should decide whether to take the money and run or keep the coins for a better day. Just always remember the joys involved and never quit collecting and listen to your instincts! Good things can and will happen and always be diverse with your collecting habits as there will always be coins going up just as there will always be those who remain stagnant or going down. One must learn to "play the game" so to speak so tucking away a few moderns, seeking a good buy on the classics and gambling a little with bullion, both gold and silver makes a great mix for me!
I still pursue the silver euro commemorative with a passion due to relatively low prices on many EU nations unc. coins (face value) and do search for the $2 euro commemorative when I can get them from collectors in Europe. I, for the most part, avoid dealer prices for Euro coinage here in the states or Canada due to tremendous markup in prices but on occassion must pay those prices to get specific coins my collecting friends in Europe can not locate. The silver euro gives me something new to look for and provides me with endless opportunities to learn European history which I have never been taught. This area of collecting has been a great joy since 2002 with the introduction of the Euro so I intend to continue this aspect of my world collecting.

I said paper silver was not for me
Here is one of the reasons
The silver and gold slowly disappears as operating cost

http://goldstockblog.com/

Anybody know what drove prices up today?