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 Replies: 24 / Views: 2,635 |
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Pillar of the Community
United States
4008 Posts |
Quote:
Stop worrying about the silver price. It will go up and down whatever you try and do. Indeed so, Trout. Like a lot of us on here, I am in the acquisition phase of collecting so am buying small amounts of silver every month or so and larger amounts when the price comes down. This is working very well, thanks in no small part to the volatility of silver. I have no interest in selling at this time, so a price pull back is nothing more than an improved buying opportunity.  My wife thinks that I am nutty for being into silver but that's OK. She's not into the PM thing (yet) so keeps her money in fiat. Yes, I have explained that it would be MUCH better for her to have some in gold or silver but no buys for her yet. I did get a brief question the other day about how to buy some gold, though. That was her very 1st sign of any interest at all. I will nurture that thought... and steer her away from the TV gold sellers.  |
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Pillar of the Community
United States
3077 Posts |
Ed get her to invest in 18K chains
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Valued Member
Canada
497 Posts |
[quote]
[The real money is in rare coins]
If the world economy goes into a longterm recession or depression as some say, won't even rare coins also take a loss? Coin collecting is an expensive luxury, and in hard times their value is discounted in favour of more pressing necessities . I'd be more inclined to own a lot of junk silver rather than it's equivalent value in a few rare coins right now.
Edited by west- canuk
10/02/2011 11:09 pm
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Valued Member
United States
410 Posts |
I agree completely west-canuk. Collectables are only worth what someone will pay for them. My brother was big into collecting baseball cards and spent thousands on "Rare" cards. His collection is worth pennies on the dollar now that baseball cards have fallen out of favor. The same thing happened with stamp collecting.
Personally, I won't pay more than face value for a clad coin. I also have no interest in error coins. It may be my history in manufacturing but I don't understand the idea of paying more for a defective coin. My circulated collecting is limited to a bit of roll searching and looking at my pocket change.
I have been buying some silver coins but I limit that to paying spot price. I've been pretty successful buying US Mint silver proof sets for under spot. I'd rather have a nice silver proof coin than silver rounds, bars, or junk coins.
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Pillar of the Community
 Australia
7096 Posts |
I have both west-canuk but I find the rarer coins are far more intresting to have and aquire. I really don't subscribe to the belief that the world is doomed financialy and we will all end up struggling to exist like savages. If it really came to that no amount of precious metal will make that much of a differance. in the meantime I'll just keep collecting and enjoying myself at the same time  |
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Pillar of the Community
United States
511 Posts |
Don't get too flustered or excited every time silver moves a few dollars or more in either direction. The thing to focus on is the total number of ounces in your possession and increasing that amount as time passes.
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Pillar of the Community
United States
3294 Posts |
I get excited when it goes down, because I don't add it at above $30 and I sell it at above $40.
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Pillar of the Community
United States
4008 Posts |
Quote:
Ed get her to invest in 18K chains Jewelry, huh? Yeah, THAT she could get into. I'm wondering, though, if we dare go there. That path COULD lead to the Dark Side. Consume her it could.  |
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Bedrock of the Community
Australia
21788 Posts |
nod2003: As long as you dollar cost average on the way up AS WELL as the way down, you should do well. Record keeping is essential with this tactic.
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Pillar of the Community
United States
3294 Posts |
I try to buy coins that have a numismatic floor no lower then $20/oz, but I have no confidence in silver staying at the high levels it is so I don't feel it is a good idea for me to dollar cost average above $30. Besides, I don't put my real investments in silver, the real $$$ goes into stocks. Silver is just a hobby :)
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Valued Member
United States
410 Posts |
Silver is just a hobby for me as well. All the silver I'm holding is in silver proof sets. I figure that if the price of silver drops, a proof set will retain more value than a silver round or bar. More importantly, I like silver proof sets, the silver US State Quarters are very nice. |
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Pillar of the Community
United States
4008 Posts |
Quote:
More importantly, I like silver proof sets. Now, there is the essence of collecting. |
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Pillar of the Community
United States
2168 Posts |
Yes and the silver proof sets are not that over spot (esp when it was around 40/oz). I did get some when it was about the same as junk silver over the summer the 2010 are a little less than the 2011. Now the junk is a better price but I'm glad I did get the proof sets instead of junk silver since I,too,think they will have better balue if sliver in general decreases. And could also have more value if it goes up either way. They look a whole lot nicer than junk.
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Valued Member
United States
410 Posts |
I purchased my 20 silver proof sets on ebay the 2nd and 3rd weeks of August. I paid an average of $38.12 per oz. It still amazes me that junk 90% silver was going for more than spot but I could consistently buy proof sets for less than spot. I was hoping to buy some 90's silver proof sets now that silver is down around $30 per oz but prices haven't fallen with spot. |
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Pillar of the Community
United States
2168 Posts |
I know the proofs were listed that the price was being adjusted on the US mint site but came back available for the same price. Other silver that was taken down is still unavailable last I checked
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Replies: 24 / Views: 2,635 |
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Posted 10/02/2011 9:57 pm
