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New Member - Confused Collector

 
 
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 Posted 08/20/2019  3:42 pm Show Profile   Bookmark this topic Add Starsky to your friends list Get a Link to this Message
Hi All. New user here.

I joined because I convinced myself I should own a bunch of gold and silver a couple of years ago and I'm realizing I don't really understand a lot of this stuff and am not sure what I want to do next. My initial purpose was to own some silver and gold as a hedge, but I ended up also owning some higher-premium SN coins that I feel like a bit of a sucker for buying.

I'm here to understand the real premium these coins should carry and if they will become more valuable in the future beyond the value of the metal. I think I want to keep all the gold and some silver bullion - there's a lot more silver than gold - but I'd like to convert my assorted SN coins to generate some cash and simplify my PM to 95% bullion.

I welcome any knowledgable advice on where and how I can sell the coins I want to sell and how much I should expect to get. It's mostly a few hundred oz. of Perth Mint and similar SN silver coins in oz. and larger weights. I sold some back to APMEX recently and realized that was a big mistake. Wondering the best way to proceed...

Thanks! (Love the emojis on this board!)
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 Posted 08/20/2019  3:47 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
please give us specifics on what you have and we can certainly offer our opinions.

We have experts on almost any coin, token, bullion, and medals and those folks will freely offer their expertise.

We look forward to your participation.
Edited by moxking
08/20/2019 3:47 pm
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 Posted 08/20/2019  11:20 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
To the Forum.
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 Posted 08/20/2019  11:55 pm  Show Profile   Bookmark this reply Add jack jeckel to your friends list Get a Link to this Reply
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 Posted 08/21/2019  04:07 am  Show Profile   Bookmark this reply Add owatchman to your friends list Get a Link to this Reply
to CCF, Starsky!
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Valued Member
United States
71 Posts
 Posted 08/29/2019  8:17 pm  Show Profile   Bookmark this reply Add DmanofLV to your friends list Get a Link to this Reply
Silver and gold prices have gone up and down for many years in history. If you invested a couple of years ago, spot price was around $1,100-$1,300 per ounce. Hopefully you did not pay more than that. The current spot price is more than $1,500. Gold prices dropped about $15. oz. today since early this AM so now might be a good time to buy and a bad time to sell. In my opinion, I believe the gold prices are going to escalate soon considering all the world problems. Keep in mind that just 18 years ago, Gold prices were at less than $260 per ounce. In just 10 years it went higher than $1,700 in 2011. In 2015 gold prices dropped down to less than $1,100. per ounce. Unless you need the money now, I recommend you hang onto your gold and sell it only when you can make a profit that is suitable to you. It is better to have gold in your vault than it is to have paper money in your bank account.
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United States
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 Posted 08/29/2019  9:00 pm  Show Profile   Bookmark this reply Add DmanofLV to your friends list Get a Link to this Reply
I checked out that Perth Mint site you mentioned and found they have the 1 OZ. Kangaroos for $20.80. and you get free shipping on orders over $99. Current spot price is $18.22, So it appears that with free shipping, you can get 1 oz. coins for about 10% Over spot including shipping costs. That does not seem to be unreasonable if you intend to keep your investments until the spot prices go up. I do not reccommend you buy the 1/2 oz. coins.

Making a profit on bullion investments take time and are usually a small risk unless you are impatient or believe you will make a huge profit in a short period of time. If you buy today for $20.80 and want to sell tomorrow for $18.22 you will lose money. Hang on to your bullion investments until you can make a profit. Keep in mind inflation rates. Your buying power today can increase as well in the future and even if and when Gold and Silver goes go up, so does inflation.
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United States
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 Posted 09/06/2019  4:33 pm  Show Profile   Bookmark this reply Add Gallienus to your friends list Get a Link to this Reply
I've been collecting a long time but never heard of an SN coin before. Are you referring to the Continental dollars of 1776 which were struck in a Sn alloy? Certainly if you have a bunch of those I can understand diversifying as they're a little pricey.

The silver ones are of course worth more. I'd love to have even a Sn original but I primarily collect non-US coinage.
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Canada
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 Posted 09/12/2019  10:25 pm  Show Profile   Bookmark this reply Add CalmBud to your friends list Get a Link to this Reply
Welcome!
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 Posted 09/14/2019  4:18 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply


Sn is the atomic symbol for Tin - I don't think you are using it that way?

-----Burton
45 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC
Owned by four cats and a wife of 35 years (joined 1983)
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United States
451 Posts
 Posted 09/15/2019  11:21 am  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
Welcome! Precious metals as an investment can indeed become confusing. In private firm bullion rounds and bars the price is based on the market spot plus a premium. Which applies when both buying and selling. In government form, minted by a countries official mint, the price carries a numismatic premium which is often well above the market spot.

So if you are looking to maximize your return, investing in .999 silver or 24k gold directly from a mint's suppliers is the way to go. I would also add that if going the numismatic route, educate yourself on their current and past values. This forum is a great place to start.

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