I Highly Recommend Proof Coins But Thats It

Yes, I agree 100% with you. They will fall. But these coins will be the FIRST coins to recover price wise, and they will afford and provide a cushion, and the buyers will want these coins FIRST over bullion.

I have been following and charting coin prices proof versus bullion and while proofs/Numis have fallen, its been no where near as bad.

Just to provide a differing opinion, I'd just like to say that I approach this situation completely differently. Yup says that buying bullion is a waste of money because, in his expert opinion, metal prices will drop further from here. Fine. To me this implies, however, that all bullion is priced equally in the market. This is not true. This is what some people don't understand. Some bullion, that can be bought everyday for prices close to spot, can be sold much higher elsewhere.

For example, you might walk into a coin shop and find 1983 Engelhard Prospector rounds that sell for $2.50 over spot. See what those sell for on ebay or somewhere else. How about a mint sealed 2000 1/10 Chinese gold panda for $15 over spot. Maybe you'll luck into some Australian Lunar I series in the silver junk bin for $2 over spot. All of these things have happened to me in the last three months. Even though I bought these when silver was at $30+/oz and gold was at $1600, I'm still quite confident I can turn a profit on every one of these. In fact, I sold the gold panda for a 100% profit after the drop. . . I'm not trying to brag or boast, I just wanted to share a few opportunities that I've come across.

Even if you don't have a stellar local coin shop, you can find other places that offer great buys (like the dreaded ebay). Probably 1/3 of what I own came from ebay. Almost all of it was things that I valued at least 25% more than the price I paid. I do this by finding things that aren't categorized correctly, priced 'Buy It Now' at a low price, spelled wrong, etc. The point is, you need to recognize an opportunity when it presents itself. These opportunities are more common than you might think. Of course this means my dollar cost average will be a little higher than those who buy dirt cheap generic (or paper). However, my stack doubles as a nice collection which is half (ok, more than half) the fun.

Sorry for the long post, I just wanted to offer a different perspective. I'll leave the proofs be and stick with bullion, as it's worked out quite nicely for me so far, even with the price decline. In the end all I'm trying to say is, check this stuff out for yourself and do your own due diligence. Also, please be careful taking advice from someone telling you what to do.

Buying Proof silver coins CAN be a good investment IFyou know which ones to buy
It is NO good whatsoever thinking that silver is turning to mud and simply buy any silver proof coin instead of bullion.
You will need to do your homework and have a reasonable grasp of numismatics to at least break even buying Proof coins.
Most of the silver proofs I have are 30-40% up on their issue price, which is a lot better than bullion which has lost more than 50% of its value in the last 2 years.
I am most certainly not advising anyone to lash out and buy a heap of proofs, make your own decision but please do your homework first.
Anyway an album or 3 full of great designed silver proofs looks far better than a few lumps of silver in bars.
Just my opinion each to their own
There is NOTHING nicer than picking up an album the weighs in at over 5kg (that's about all they can hold before they fall to bits ) and thinking "You little ripper I own these)

Whilst there's a place for proofs in any collection I personally think it would be an immensely boring hobby if one were to limit oneself to just those. Some of us like a little history with many of our coins be they gold, silver, copper, brass, zinc etc.

This is a coin community with forums kindly provided by those that love this hobby for the benefit of those that also love this hobby - it's not an investment site or a trading site or a site dedicated to purely stackers of precious metals. I think you fail to understand this.

Norm

I don't think they mind if you do a little of both. Did some actual moderator tell you otherwise? Again, if you don't like the topic, you don't have have to read the thread. I think you fail to understand this.

Hey I like everyone's feed back thus far and everyone makes good points.

I agree, you have to know WHAT you are buying proof wise as well, because some proof coins are doing zippo.

I say, buy quality over quantity at this stage tho so you have some sort of cushion.

Lot of great points in this thread that I Would like to address and expand on but I dont have the time right now.

Well no I mean, I think its important that everyone has opinion. You might be wrong or right.

However, I think whats getting lost is perhaps, because most have a bias towards silver and gold on a coin forum, I am not going to see a lot of people agreeing with me, and its going to get them upset that someone is vocal and digs in.

But you have to understand that I am NOT against PMs. Shoot I really love gold and silver myself. Nevertheless, I cant just say "yea keep buying all the time even as the price goes lower" when its clear whats happening.

And I really think at this stage, you gotta buy good quality stuff over quantity.

As an example,,, months and months ago a lot of folks were busy sheets of Pandas. I remember folks talking here and buying them around 1300ish/1200ish a sheet and higher. Look on ebay .... sheets of 2013 pandas have dropped to 900ish area.

would you really want to take your hard earned cash and buy the sheet of pandas, and then watch them go 300 dollars less? I dont know of many folks who like buying high, thinking they got a good deal and it ends up less.

Sooooo I really think at this stage, one should be going for quality over quantity.