I Am New To Coins. Have A Plan With Silver Rounds. What Do You Guys Think?

I enjoy buying 1938-D Buffalo nickels. Been doing it a long time. I have a hoard of about 6000 of them. I enjoy them. They work for me.

Do what you can afford and enjoy. When you no longer enjoy it then sell, or put them away, and do something else.

to the Community!

I see a flaw in this plan.
What if silver is $10 an oz in 10 years

The flaw in the plan

Don't get me wrong, I had a plan almost 10 years ago.



I think I will have the same plan for the next 10

Thanks guys. I appreciate the input and the encouragement.

also new and also buying rounds when on sale with a few silver eagles added in for the fun of collecting

stack what you like and stack it high. I love stacking gold and silver added 8 oz today

Hmmm, still cant figure out phase 2 so maybe I've been doing this wrong following the advice of the underpants gnomes of south park how to make money (season 2 gnomes by the way)



Your plan unlike the above isn't stupid. There are things to consider however.
Are you comfortable selling to other people directly such as through online sites perhaps a place like an ebay? Why? Well if silver price rises over what you paid, yes over time you can make a profit on silver coins and bullion, but thats the only way you can make money there as it doesn't produce cash flow/interest etc. Since silver doesn't produce cash flow, in order to profit you must rely exclusively on someone else paying more for the precious metal than you bought it for and that requires some ability to resell direct to others. If you rely on dealers you will likely lose much of the potential profit and similarly if you need cash in a hurry, you may not be able to get the full value for your physical silver, especially if you need to go through a dealer so consider that you will not need the liquid cash for that period of time or other options may be better.

Coins minted from a government may be more liquid at sale time meaning easier to sell, and usually recoup most of the premium paid except when premiums are very high and then will reduce for a reason like short term issues with supply. In those cases like the ASE today you can just switch to a lower premium different government minted coin.

If your not comfortable selling direct also avoid collectible coins since you'll likely pay extra for the collectability of the coin, meaning that you're overpaying for the actual silver content and this is usually only recovered through direct to buyer sales and not sales back to dealers who may only see the value of the silver. Of course if you are comfortable selling directly to others and have some skill at what might be a popular character or design, you can speculate on some of those collectibles for a higher potential profit return as they tend to go up more due to more demand vs available supply over time. Finally, like all physical assets, silver is subject to theft, so you'll have to safeguard it and maybe even insure it.

With that all said, silver can be an excellent way to store value even if there is volatility in stocks, the value of currency like the dollar etc. If there ever was a good time for this as an alternative, most are saying now is that time.