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 Replies: 7 / Views: 1,073 |
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New Member
South Africa
2 Posts |
Hi, I am very new to this forum, but I have a few questions concerning coin collecting.
Now I am not talking about rare coins, what I would like to find out is prices of old coins that is not rare but have a high silver content.
Thus if a coin has 80% silver content, would it be wise to buy these coins for prices less than than the current market value?
For example, if the price of silver is say $10 per ounce, a coin has 80
% silver content, then if I get the coin for $7, would this be good buy?
I am asking this because I don't want to waste money as I am new to coin collecting / investing
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Pillar of the Community
Egypt
3470 Posts |
 to CC forum  I think buying below current market value is what every collector/investor would be happy to do |
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Pillar of the Community
United States
1817 Posts |
Oh yes! Getting silver for under melt is a fun, sometimes frustrating, but rewarding game. It can definitely be done today on e-Bay and other places, particularly if sellers don't know what they're selling or if bidders are asleep, or uncommon coins, or unpopular series, etc., any number of these factors can make a coin sell for under melt. Your example would be a good deal for $7.00 only if the coin were exactly 1 Troy oz. with .800 fineness with a $10 spot price. Definitely check a catalog for the pieces you are interested in and the amount of silver they contain. A good example is the Red Book of US coins has a bullion valuation chart in every edition for silver and gold coins. |
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Bedrock of the Community
United States
20753 Posts |
My only suggestion is to forget about the investing stuff. Make coin collecting a hobby. Make it fun to find coins you need, want, could use, etc. Coins as an investment is not a great idea. Remember the Beanie Babies? Remember the sports cards? How Wheel Cars? Many thought those would be worth a fortune some day too. Stick around here and ask questions. Look through your change, ask friends, neighbors, relatives for any old coins. Make this a hobby for FUN. |
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Pillar of the Community
United States
539 Posts |
don't forget the latest...Mighty Beans...
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Valued Member
United States
458 Posts |
Silver is not like Beanie Babies. Buying Silver coins for less than what the Silver content is worth is a grande idea :)
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New Member
 South Africa
2 Posts |
This is a big hobby to me, however I would like to think that if I buy something (coin) that if things go south for me I can sell it again and not loose money :)
Could anybody also point me to a website who sells silver bars that would ship to south africa. There is a local supplier here of these bars but their price is 60% over spot which is quite high
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Bedrock of the Community
United States
20753 Posts |
Quote:
Silver is not like Beanie Babies. Buying Silver coins for less than what the Silver content is worth is a grande idea :) Only if your intent is investing and if that is the only reason, then look into Bonds, Stocks, old cars or women's shoes.  Silver, Gold, Beanie Babies can and do go up and down. Coins as a general rule continue to go up year after year after year. |
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Replies: 7 / Views: 1,073 |
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Posted 07/13/2011 07:42 am
