| Author |
 Replies: 10 / Views: 2,021 |
|
|
Valued Member
United States
487 Posts |
Being that my 401k is in the tank and saving interest is a none factor, I have been buying junk silver coins. Before I get to involve money wise, I would like to ask a question of the people of this forum. Should one hold off buying at these prices or take a chance on silver going higher? I know the precious metals market is volatile and due for a correction. Just would like some opinions. Thanks!
|
|
|
|
Pillar of the Community
United Kingdom
2490 Posts |
This has also been exercising my mind today.
I have plenty of 1914 halfcrowns in F condition, currently fetching around £3.00 (Tony Clayton, UK coin values).
They weigh in @ +/- 14g ASW. The high street jeweller will pay £5.00. Why am I so reluctant to let good coins go for melt? And shouldn't coin prices rise above BV, if they're collectable?
|
|
Valued Member
 United States
487 Posts |
I'm buying world coin mostly under melt but it seems like a sin to purchase these coins for the purpose of their silver content. Some of the coins are quite striking especially the coins from the United Kingdom! I guess I shouldn't over look there numerical value
|
|
Valued Member
United States
467 Posts |
DCAing your purchases is always the best way to do it, this way you can always catch the dips. I would also advise to never ever sink money into this that you may need, only in time of chrisis should this money be available. This way you can sell on your terms.
Myself I buy a little evey month and leave it alone. You would be surprised how much you can accumulate over time.
Myself also, I am not nuying too much junk, just 999, as the price moves up you will see a greater reduction in price to spot on 90% as compared to price to spot on 999.
|
|
Valued Member
United States
487 Posts |
When I do buy .999 bullion, I try to stick to bars or rounds from A-mark, Engelhard or Pan American. I just feel better about purchasing from them.
|
|
Pillar of the Community
United States
1554 Posts |
Buy silver!! Hold on to it for 10 years and then go from there....It doesn't matter if it goes up or down for a couple years just keep buying when you have extra $$$ and you won't regret it...."Now" doesn't matter, "later" does....What I purchased 40 years ago is worth money and I'll tell you, it's been a blink of an eye...
Cheers, Erik
|
|
Valued Member
United States
438 Posts |
Personally, I have stopped buying. I stopped when it passed $20, and will resume when it drops below that level again. Looking to buy junk at below 14 times face value.
ACE Mike
|
|
Bedrock of the Community
Australia
21786 Posts |
Nothing wrong with buying junk silver if that is your thing. I have dabbled in that in the past, but not now. I sold an accumulation of junk silver some time ago, and bought some nice ancient coins with it. For me, they have appreciated more since then than the silver price, and I was not buying the ancients for an investment.
I was looking at the 5 year silver price graph recently, and noted that the long term trend line for an ounce of silver is currently at about $17 / oz. I currently only have about 4 or 5 ounces of junk silver.
As a matter of curiosity I have weighed the bulk of my collection that is not in a safe. What I did weigh worked out to be about 35 kilograms. About 2/3 rds of this would be in silver collectible coins, not junk silver. Allowing for packaging of various sorts, and empty album weight, I guess that there would be 15 to 20 kilograms nett weight of collectible silver coins.
Obviously, the collector value of these coins would be much greater than the silver value, I guess by a factor of many.
|
|
Valued Member
United States
487 Posts |
I came up with this plan. Twice a month on pay days I'll purchase a eagle, maple leaf or a onza. If I stick to it I'll compile quite a sum. One just has to start!
|
|
Pillar of the Community
Philippines
1156 Posts |
If one really wants to unload junk silver in future- turn it to cash, best to hold on to is USA junk silver coins. I collect World junk coins for their intrinsic eye appeal, they do come cheaper but unloading them can be a mess when verifying their % silver content which varies so greatly depending on year and country, unlike junk USA coins which are standard at 90% and 40% making it easy to come up with a selling price
|
|
Pillar of the Community
United States
3294 Posts |
I still buy junk silver (after sorting through it for pieces with even better numismatic value), but as the price goes up, the rarity and condition needs to get better and better for me to make the purchase. The way I figure, this way I am protected if silver goes up, or down.
|
| |
Replies: 10 / Views: 2,021 |
|
Posted 10/23/2010 09:15 am
