Tax money...what to do?

[Novapax]

I'm CRH with about 1500.00. I'm going to add some money from the tax return to the CRH money.

Question: should I use all of the money for CRH or should I buy a little bullion to help off set the long skunk streaks? It would put me close to 2800.00
If I do buy bullion, generic or eagles/maples/phill harmonics?

I should add, I can't really up my numbers until I can square away more dump banks.

Thanks

NP

 

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[Wilmingtonsilver]

Personally, I would up my CRH by getting into other denominations. Quarters, dimes, and nicks. The profit margin is always going to be the greatest that way, and the other coins, every bank will take back with no questions.

 

[enamel7]

As has been said many times before, there's no way we can know what you should do will your money. Try different things and see what works best for you.
HH
enamel7

 

[GarouLady]

I just got around to turning in my dump and have 600 bucks to play around with. I also have a 1200 tax refund coming. i plan on playing around with some boxes of quarters and nickels, for a month, turn it all in and then pay off one credit card and part of another and still have my 600 to play around with.

Sincerely, Garoulady

 

[twiasp]

Finding silver in coins bought for face value seems logical to me. Seems like an odd time to invest in buying bullion since the prices are already very high compared to the norm, seems like kind of a long shot to turn much of a profit. /shrug Just my 2 cents.

 

[fistfulladirt]

It would be bullion buying time for me, although I don't get a refund (wife and I paid in close to 30 grand and we will still owe a little), the time to buy is now due to price suppression. Today's prices will look like chicken feed in the near future IMO.

 

[Novapax]

I'm thinking bullion too Fist.


Should I go with generics asi have in the past or opt for some eagles/philharmonic/maples ?


NP

 

[FloridaFinder]

I would definitely up my CRH, since buying them at face is the best bang for your buck. For example, lets say in one month (or whichever time period it takes you) you find 50x90% halves and 150x40%, that is 200 silver coins so $100 face. That is 40.27 oz, so at a value of $31.85/oz those are worth $1282.54.

That's a real world example of upping your search because those are rounded numbers of my first month of ordering boxes of halves. I love finding them at face value and am too thrifty to buy bullion unless it is simply to own a special coin.

 

[x512x]

If your into bullion I would definently get some I would say silver is still really cheap now. Don't use all of your refund but a little. I don't see silver dropping below 30 again but just my opinion

 

[maverick]

Everyone is going to have a different opinion on this becuase everyone collects for different reasons, so I'll give you mine, Myself personally, if I was going to buy any Silver(which I do now from time to time) I wouldn't buy anything that has a premium over melt ( unless you are a big Numismatics guy, or like the special coins) I buy junk Silver, it seems to me to be the best value, to me a Silver coin is only worth melt no matter what it is and the case of SHTF, no one is going to care if it's a special coin or not, they are going to only value it for its Silver value, they aren't going to care if you have a "Key date" or "Rare Coin" or not, it will only be worth it's Silver value. That being said, it is up to you and what you like.

I would add to my CRHing money, it makes it waaaayy easier to hunt if you have a bigger bank roll, I started out with $1500.00 and now use many more thousands, it made it a hundred times easier to do this hobby with the increase of my funds. I'll keep it short and sweet with that. Good luck with what ever you decide there Nova. HH, Maverick.

 

[harpda]

With that kinda tax return i'd buy 12 garrett pro pointers and duct tape them all together and trawl them behind a boat. It's cheaper then that trawling detector they sell on Kellyco.

 

[maverick]

With that kinda tax return i'd buy 12 garrett pro pointers and duct tape them all together and trawl them behind a boat. It's cheaper then that trawling detector they sell on Kellyco.

.

 

[Generic_Lad]

When it comes to buying bullion, everything has their pros and cons.

With generic silver (bars/rounds) you end up with a lower price per ounce (generally), you can get very convenient sizes (1/10 oz, 1/4 oz, 1/2 oz, 1 ounce, 5 ounce, etc.) but it comes at a cost of the next person not knowing for sure if your bars/rounds contain the stamped amount of silver. For example, would you (or an average person) know the difference between thick silver plated copper stamped .9999 silver and the genuine article? You've already got that problem with gold plated tungsten, (I know a lot of people laugh at the idea, but when you've got a Chinese firm openly selling these (see: Tungsten Alloy-Gold plated Tungsten Alloy Bar ) you've got a (potential) problem on your hands). Even if you know for sure something is pure silver, how do you know that the person that you have to buy X off of when the dollar collapses will know that?

With junk silver (US/Canadian 90/80%) you've got a fairly low premium (depends on the dealer) a wide variety of sizes ranging anywhere from a dollar to dime and the biggest advantage is that its harder to -accurately- fake a coin than it is to accurately fake a bar (although there are some very good numismatic counterfeits, most of them are very good because they are made out of the metal, a gold coin would be made out of the same amount of gold, a silver coin the same amount of silver). The downside is that they aren't very easy to calculate compared to a troy ounce without a calculator and chart (or smartphone app!) handy.

With bullion (Eagles, Philharmonics, Maple Leafs, etc.) you've got a -high- premium that may or may not be recoverable. Today if you buy an Eagle with a premium there's enough demand that the shop will most likely pay you back at least some of the premium, perhaps not all of it, but they generally will pay you more for it than junk silver or a bar. However, if silver gets to be more expensive or the dollar collapses, there's no reason for them to pay a premium. Numismatically they will never be worth much at all due to their incredibly high mintages and the fact that only a handful have ever seen circulation.

A lot of people will say that the purer the better, while this is certainly true for coins less than 90% pure (40% silver Kennedies and 35% silver war nickels generally trade at a discount) I'm not sure that this will be true for this silver market since much of the demand is from investors rather than industry. When we saw high silver prices back in the late 1970s, the demand was almost entirely industrial (except from the Hunt Brothers), the jewellery makers such as Tiffany had a supply crisis, they couldn't get enough pure silver to get what they needed to make their jewellery because it was all going to the Hunt Brothers, because of such a massive sell off of silver, refiners were packed and it took a long time to get things refined. In 2013 this is not the case, a coin shop can just as easily sell back the 90% silver that you gave them to another investor, there's no need for them to melt it and refine it (and take a loss).

 

[50cent]

With that kinda tax return i'd buy 12 garrett pro pointers and duct tape them all together and trawl them behind a boat. It's cheaper then that trawling detector they sell on Kellyco.

they are not meant to be that close together, they'd interfere with one another, and send off wrong signals. Second of all they are not water proof. third of all, if you ducked taped them together, they would not be secure and get lost in the water, so you'd loose your entire tax return. last but not least, boat's are pretty loud if you ever saw one, and you cant hear the beeping coming from them in the first place. Really bad idea.

 

[FloridaFinder]

Maverick and Generic_Lad both added very valuable points.

 

[$ilver$urfer]

I'm CRH with about 1500.00. I'm going to add some money from the tax return to the CRH money.

Question: should I use all of the money for CRH or should I buy a little bullion to help off set the long skunk streaks? It would put me close to 2800.00
If I do buy bullion, generic or eagles/maples/phill harmonics?

I should add, I can't really up my numbers until I can square away more dump banks.

Thanks

NP

Pay off all debt first, then buy what you need for you and your family, then use the rest for bullion or a larger CRHing roll!

HH,

$ilver$urfer

 

[Novapax]

Thanks everyone. I'm going to diversify. More fore CRH and a small portion to generic silver bullion.

Just have to wait till the tax return comes back.


NP

 

[fistfulladirt]

My problem with crh'ing is that I need to stack pounds, not oz's...no way can I do that roll hunting alone, so in the meantime I have to buy bullion.

 

[TheMastermind]

It would be bullion buying time for me, although I don't get a refund (wife and I paid in close to 30 grand and we will still owe a little), the time to buy is now due to price suppression. Today's prices will look like chicken feed in the near future IMO.

Damn.

 

[Bigheed]

ya pay off debt first. If you can dump more, increase your CRHing budget if not buy some bullion up to what you think you could reallistically pickup / dump.

I would not search anything other than halves unless you are doing it for something like a "found in the wild collection", Quarters, Dimes, & nickles are a waste time in my opinion. I searched a couple hundred thousand in dimes and when compared to an equal amount of halves searched I was getting 4x the ounces with Halves for the same dollar amount searched. You can't escape the law of large numbers! I wouldn't even waste your time with quarters, most used/culled denomination of all times. Nickles, sure you might find some war nicks but they are time consuming, can't edge search them and I think i;ve only seen 1-2 major war nick score on here in 2 years, also they are only .350 fine, not that great. I'd do pennies through my ryedale before quarters, nicks, and dimes.

Halves, Halves, Halves, are your best friend for ounces per hour of time spent.