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 Replies: 16 / Views: 3,591 |
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Pillar of the Community
United States
2541 Posts |
So... I'm thinking about cashing in a bunch of junk silver I have to purchase a Carson City gold coin. It would be something I'd like to hold for the long run. CC gold seems to be pretty rare and I don't think I'd have a problem moving it if I ever decided to sell it. I'm trying to buy fewer coins but better quality.
What are everyone's thoughts on this?
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Pillar of the Community
United States
1348 Posts |
I buy and sell a lot of silver (just FYI ;) ) but I basically do the same thing as you. I try and collect more rare coins that are not goign to be affected by the silver market.
Examples are my
1799 Silver dollar pcgs vf30
1809 half pcgs x45
those are my favorites but I have a few more.
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Pillar of the Community
United States
8904 Posts |
Quote:
What are everyone's thoughts on this? I think the silver price these days makes this a reasonable idea!  Keep us posted!  |
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Pillar of the Community
United States
3283 Posts |
I don't have a crystal ball or anything but it seems like a
good time to sell silver especially if you acquired it at a
much lower price. Certainly a lot of folks are selling now!
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Pillar of the Community
United States
1510 Posts |
ill wait untill it hits 50 and get rid of mine
Retired USAF 1983-2003
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Pillar of the Community
United States
3184 Posts |
I'm into bullion so if I sold my junk silver I would get bullion gold.
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Pillar of the Community
United States
7195 Posts |
I am in an inverse situation. I was thinking of selling some modern gold commemorative to purchase older silver half commemoratives such as New Rochelle, Norfolk and Gettysburg. Or should I try to sell junk silver and hold onto the gold?
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Valued Member
Philippines
386 Posts |
Disposing silver coins for getting gold coins is an awesome idea. Quote:
I'm trying to buy fewer coins but better quality That is the essence of coin collection - unlimited occassions of upgrading your specimens that would best describe as numismatic's insatiable wants - present in all of us... It was the same thing I have done before, sacrificing a lot of my silver coins in exchange of gold rare ones. I am more happier owning fewer coins at the same time more proud to show the rare gold ones. In other words, while we all know that in the near future all of our coins in our possession will appreciate in values, and while we all wait for that moment, we all enjoy having them in our care. So anything that you do in your collection that you are happy with it, go for it. CC golds are super nice ones - wow. |
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Pillar of the Community
United States
573 Posts |
This might be a real good time, or it might not. I know that the gold/silver ratio has come down from 65:1 about a year ago to about 38:1 today, so your silver will buy you more gold now than then. It might keep going down, or gold might start taking off again. Of course, you're also throwing in the numi/rarity factor as well, which is another consideration.
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Valued Member
United States
299 Posts |
I am on the verge of culling my Morgans to get some better choices myself. Seems an excelent idea
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Pillar of the Community
United States
2734 Posts |
I'm trading all of my key-date gold for junk silver, myself...  Just kidding, Gothic Florin, you have a good plan. Carson City + Gold =  Your silver will buy you more/better "Carson City Gold" than it would have just a few years ago. Normally, I'm in the "hold onto all your silver with a death grip for the next few years" camp, but "Carson City Gold" makes for one of the best exceptions to that "rule". |
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Pillar of the Community
United States
3540 Posts |
I dumped all of my non numismatic silver for BU Lincoln Wheats. I am definitely coming out on this better..in the short AND long term.
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Pillar of the Community
United States
511 Posts |
I'm a huge silver bug, but if you want to make a swap, CC gold is an excellent choice.
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Rest in Peace
United States
4849 Posts |
I agree! Great idea! I'm a big gold bug, and I'd like to get CC gold myself. I've never owned a coin from the CC mint! I've been purchasing some AU-ish $5 indians, as you can almost get them for melt these days with the gold price.
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Valued Member
United States
314 Posts |
Make sure you sell your stuff on the forums!
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Pillar of the Community
United States
1547 Posts |
Quote:
I'm trying to buy fewer coins but better quality.
What are everyone's thoughts on this? Gothic, my wife is in love with you, she'd love us to swap-out our silver! If you do it, I'm sure I needn't have to remind you, you're obliged to show us what you get. Those are the rules. Otherwise, you can't buy it, it's forbidden.  |
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Replies: 16 / Views: 3,591 |
Posted 03/23/2011 10:25 am
