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 Replies: 21 / Views: 3,565 |
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Valued Member
United States
240 Posts |
Do you budget a certain amount per month? or do you cash in your retirement funds and buy? do you buy cheap beer and use the left over funds for silver? or?
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Valued Member
United States
283 Posts |
I just keep an eye on spot price and when it gets low, whatever disposable income I have at time, I pick a few ounces up. Haven't bought anything in awhile though, since it has been over 23 bucks.
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Pillar of the Community
United States
7273 Posts |
I have been taking a little of my paycheck for the last 19 years. I use that to support my hobbies (everything from buying a DSLR to a telescope, meteorite or a coin/note). I also used to go to starbucks or out for lunch every day. That is until I actually priced what I was spending. So I take my lunch from home to work and I never buy coffee out. I put most of that money into the hobby fund, but when I have extra cash, I put it into a container with the change and when I get enough I'll get some silver or if I save enough some gold. Check out this thread in which I used coffee money to do my Mercury dime set. http://goccf.com/t/425146Edited by hfjacinto
01/10/2023 8:14 pm
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Pillar of the Community
United States
5820 Posts |
Eat ramen and you will save up quite a bit, except I wont do it for a long period of time, used to add egg but price of a dozen eggs is getting expensive, so is the lettuce.  |
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Valued Member
 United States
240 Posts |
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Bedrock of the Community
 United States
24906 Posts |
Making a monthly budget is essential to economic prosperity. Credit cards are for emergencies, not convenience. Too many people never put these two together, and also don't realize how much of their income is wasted on eating out. Once a month for me, and I'm a miser in every other way. But I have a nice hoard!
"A fat kitchen makes a lean will."
- Benjamin Franklin
Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
United States
3323 Posts |
I have a separate bank account only for coins. And I keep it at a certain level. If it drops below my minimum balance, no more buying until I replenish from paycheck leftovers. If I go for a while without getting anything, I can splurge and spend a couple hundred at a local show.
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Bedrock of the Community
Australia
21786 Posts |
I only use cash for everything, because I have always cash budgeted.
Much easier to keep track of all of your finances that way.
Never having a credit card must have saved me $ many thousands.
When I had a mortgage (paid that off on a single income, waaay back in 1982), I also had a cash budget for coins.
Not any more since then.
With cash only, if you run out before next pay day, nobody gets paid and you temporarily starve, but
that situation has almost never happened since 1982.
Hondo Boguss will never go broke. Small business (which are the backbone of the economy), love this sort of guy.
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Pillar of the Community
Canada
5392 Posts |
Find what I can potentially sell for a profit ,
Write cheque ,get invoice . Never look back
Once purchased .
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Valued Member
Canada
66 Posts |
Look for the deal's always look for the deal's if it's not a deal today it will be soon unless it's a liberta then just buy it. Love the libertas lol
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Pillar of the Community
United States
4333 Posts |
Lots of disposable income the last 20 years. I buy the dips randomly, dry powder always available makes it painless.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
3342 Posts |
Plan? Though when I look at it, there is a method to the madness, of sorts.
I always seek value, and do not buy what I can't pay for. No coins on credit. In the case of metals, it has been mainly gold for the last 10 years, especially collectable gold coins. I was affected by liquidating my dad's coin accumulation and finding that 95% of its value was in the gold coins.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
01/11/2023 09:41 am
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Pillar of the Community
United States
2049 Posts |
No set plan - just whenever I get the itch. I do tend to spend my tax return money on silver bars and coins and then some here and there throughout the year. it really depends on when there is a coin show worth attending within roughly a 2-hour drive.
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Valued Member
United States
311 Posts |
With premiums so stratospheric it's hard to make the case that metals are a good investment at this time. I don't understand this: US Mint 2022 silver oz sales 16mil, down 43% from 2021, gold oz 980k down 22% from 2021. Perth Mint sold 1.1mil oz gold, + 6% from 2021, sold 23 mil oz silver, up 21% from 2021. Does US have supply chain issues causing huge premiums? Why wouldn't Australia have the same problem? For me, I've restricted myself to purchases to the couple of times a year that my credit cards have a 5% rebate. |
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Pillar of the Community
United States
533 Posts |
the mint buys the silver planchets and from what I understand they have been having a supply chain issue with them. By law they can only pay spot for the silver and they only deal with specific vendors that can meet weight, purity, and size tolerences, plus the host of regulations that go wth selling to the government
the mint doesn't buy raw silver and make their own planchets
so like everything else the government does it does it badly.
Edited by jaxenro
01/14/2023 2:09 pm
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Valued Member
Canada
138 Posts |
Every year I buy 2 ozt gold and 50 ozt silver. All maples.
Also pick up old circulating gold coins at spot plus. If I don't have the type then I buy it.
That's pretty well much it for me.
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Replies: 21 / Views: 3,565 |
Posted 01/10/2023 8:10 pm
