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 Replies: 13 / Views: 1,555 |
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Pillar of the Community
United States
3345 Posts |
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Valued Member
United States
397 Posts |
Ok, I voted for pennies. Here's how I get silver from pennies. I sort out the copper and sell it. The profit from that goes straight towards buying silver.
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Pillar of the Community
 United States
3345 Posts |
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Ok, I voted for pennies. Here's how I get silver from pennies. I sort out the copper and sell it. The profit from that goes straight towards buying silver. Genius!  |
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Bedrock of the Community
United States
10038 Posts |
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Ok, I voted for pennies. Here's how I get silver from pennies. I sort out the copper and sell it. The profit from that goes straight towards buying silver. Brilliant is right! How/where do you sell them and at what kind of profit? |
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Pillar of the Community
United States
4008 Posts |
This was a difficult question for me and I found myself wanting to vote for 2-3 categories! I like the ASEs, of course, but have recently taken a liking to the 90% silver US coins as well. Dollar for dollar, it is hard to beat the price of the 90% silver coins. I especially like the Walking Liberty half dollars F-XF but Morgans in good condition are sweet too. I have a tube of the Kennedy proofs and a tube of Roosevelt BU dimes as well. Need to add some Washington quarters but the design doesn't thrill me. Neither do the Barber designs on any of the coins. Haven't gotten into any of the silver rounds or bars yet, although I do have a couple of them. |
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Pillar of the Community
United States
2424 Posts |
there should be one more categroy : COIN SHOP... time and money constraints have kept me from hunting. and it is much easier and less depressing buying silver at the coin shop than hitting skunks...
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Valued Member
United States
402 Posts |
I have been doing Merc and Roosies here lately with a few standing liberties thrown in. Before that was picking up rounds with my favorites being The Canadian Wolf and Grizzly, do have some ASE's also. Heck I pick up a bit of this and that whenever I can afford it. |
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Pillar of the Community
United States
4008 Posts |
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Heck I pick up a bit of this and that whenever I can afford it. Actually, that is a pretty good acquisition strategy that should work well over time. It is basically dollar cost averaging into a long term PM position. I do the same and it is working pretty well so far.  |
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Bedrock of the Community
Australia
21788 Posts |
Some years ago, during the Hunt Brothers silver spike, I searched dealers' junk boxes and bought junk foreign silver coins at melt value. The trend was always looked good, because the value of my silver cache was increasing in value, due to the silver price.
I accumulated about 3 kilograms of silver in about 6 months. When I saw the price of silver tumble, I decided to sell. Only problem was, I sold near the bottom of the splke. However, I did make a small profit.
You can NEVER time the market perfectly. I could have very easily lost overall.
I was mildly lucky.
If you have made up your mind you are going to accumulate silver, you could do worse than look through dealers' junk boxes for junk foreign silver coins. You just need to have a reasonably good idea of the the ASW's of foreign silver coins in your head. Some coins turn up far more often than others, so that makes it a little easier on the memnory.
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Pillar of the Community
United States
4008 Posts |
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You can NEVER time the market perfectly. This is exactly right. Even the great investors of our time, such as Peter Lynch and Warren Buffet, have said publicly that they cannot time the market. These are some of the best investors of all time. If they cannot do it, what makes anyone with 1/1000th of their investing credentials think that they can? Once in a while, someone times the market and hits it exactly right. This is a 1st class example of LUCK and not skill. Depending on luck when investing is the best way I know to lose money. I have done that a couple of times in my 30+ years of investing but I do not ever fool myself into thinking that the result was because of skill. It wasn't. Successful investors all seem to have one very important quality: they all know that it is key to their success to be brutally honest with themselves. That's not easy to do but it IS vital. |
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Rest in Peace
United States
9104 Posts |
Pennies = lotsa smartarses here. I know, I buy those rolls on ebay that have Mercury dimes on the ends. so far, I'm averaging 2 dimes per roll. |
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Valued Member
United States
397 Posts |
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Valued Member
United States
397 Posts |
I have a pretty simple strategy for silver.
Buy at a discount, sell till the remainder is subsidized. Overall all the silver I have is essentially free, so if the market tumbles I'll just be out of luck, but will not have lost everything.
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Pillar of the Community
Canada
1502 Posts |
+1 on schockergd's strategy.
Just paid off an one ounce gold maple leaf last week selling doubles. That remaining one now looks that much brighter :)
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Replies: 13 / Views: 1,555 |
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Posted 06/25/2011 7:07 pm
