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 Replies: 24 / Views: 3,523 |
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Pillar of the Community
United States
802 Posts |
I have gone through 13 THOUSAND DOLLARS (26 boxes) of halves and haven't found a single silver. My stocks have dropped 40% in the last three weeks, and I am at wits end, I am sick to my stomach!
I am putting in overtime at work, but I feel like a failure for investments and coin collecting/searching :(
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Bedrock of the Community
Australia
21786 Posts |
wrestling_135: NOW is the time to change your strategy! It seems that your current strategy is not productive enough. Buy numismatic individual items. You MUST have good knowledge of the prices of the coins you buy, but DON'T go looking for individual coins, you won't find enough. Increase your area of looking across the whole of U.S. coinage, and only buy when a bargain opportunity presents itself. Scan all relevent threads in the CCF and perouse ebay and postal auctions. (thank goodness for the Internet!) Your purchases can comfortably remain below $10 per coin, if you wish. I have been doing this with ancient to modern coins for over 30 years. |
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Pillar of the Community
 United States
802 Posts |
I don't feel as comfortable investing in specific coin types, I look more to add something that has value for the long haul, like silver coins or silver bullion (along with stock market BS). I don't have enough time to learn about specific coins right now since I am working 60 hours per week and going for my masters.
Thank you for the insight :)
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Bedrock of the Community
Australia
21786 Posts |
wrestling_135:
I get your drift. I have been in the workforce for 53 years, and I still work full time. But I AM retiring soon!
About time they turned me out to pasture, don't you think?
But perhaps buying a stand out bargain occasionly would take up less of your time.
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Pillar of the Community
United States
3345 Posts |
Switch to dimes! Average find is 1-3 rep box, they cost half as much as halves and they are easier to dump!
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Pillar of the Community
United States
1903 Posts |
I box hunt halves out of convenience, but when I have time I canvas the banks for halves in the teller drawers and the vault. My percentage "hits" is way higher that way per dollar spent, though my finds are almost completely 40%ers. Give that tactic a try, you might be pleasantly supprised. The way I usually go about it is to go before I do my groceries and I use the "duds" to pay for the groceries so I don't hold onto them for long.
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Valued Member
United States
132 Posts |
Go to a different city and hit there banks. Maybe someone is dumping there rejects and you're just picking them up. That happened to me for awhile to.
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Pillar of the Community
United States
564 Posts |
Relax... Buy more stock and silver. Think of it being on sale and it will lower your break even point.
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Pillar of the Community
United States
3592 Posts |
Relax on the stocks , you haven't lost anything unless you sell. I avoided the temptation to watch them daily back when 911 happened and again when housing took a dive. Everything came back and I put it all in an annuity and retired.
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Pillar of the Community
United States
968 Posts |
Stocks are the better investment in the long run, but you still need to stay on top of things. What is going on right now is a lot of fear of a double dip recession and continued problems in the European economy. Right now is kind of a wait and see time.
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Valued Member
United States
466 Posts |
you say you want to invest in the long haul, then what is wrong with buying individual coins. Silver for the long term is unknown, but keys and semi key coins will never lose value and pretty much always go up in value.
as far as long term, you can hold onto 5-10 coins valued at around 1 thousand dollars now, that you could get back at any time, or you coud buy 1 thousand worth of silver that may double or may half it's value in any given month.
seems to me like you aren't thinking it all the way through and maybe thats why your stocks are crashing as well
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Pillar of the Community
United States
1064 Posts |
Agree with Maineman, if you can just leave your equities alone, the stock market is your best bet for the long haul. What kind of time-frame do you have for your retirement?
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Pillar of the Community
United States
4415 Posts |
Somebody needs a 12 step program here ... This oldtimer has been immensely enjoying coin collecting even more so, since retiring at age 55. IMHO, looking at coins as commodities can be profitable, given good luck and good timing. The real joy is learning and using that knowledge to see things that others don't see or even think to look for, like varieties, anomalies and coins that are scarce by virtue of their condition. A case on point was an 1861-O half in XF that I won online a year ago in a midwest auction. The coin's condition allowed me to spot a telltale die break, extending from the bridge of Liberty's nose into the dentils. It cost all of $110, and similar specimens have sold on ebay in the $600-$700 range; this, with it being a so-called Confederate half, as the New Orleans Mint was apparently in their hands at the time this coin was issued. IMHO, looking through boxes of coins to find silver is like buying a lottery ticket, hoping to score. Yet, the odds are likely better than the states offer. Arming oneself with knowledge about coins much enhances the chance factor. Then too, the hunt for unusual and historic coins certainly doesn't add to life's often tedious frustrations. It's far more so an enjoyable escape, an adventure.  |
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Pillar of the Community
United States
802 Posts |
Wow, a lot of insight and ideas. Thanks everyone I may give a few of these a try. Thanks again.
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Pillar of the Community
United States
1510 Posts |
I think you should be glad you have 13k to put down on coins--90 percent of America would kill for that money-- no offense. just my .02
Retired USAF 1983-2003
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Pillar of the Community
United States
1007 Posts |
Be thankful that you can afford to go through $13,000 in half dollars
Be thankful that you even have stocks.
Be thankful that you have a job and they let you put in overtime.
I know many people who would love to be in the same situation that you are.
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Replies: 24 / Views: 3,523 |
Posted 10/04/2011 05:10 am
