Nibbled at current price

[TheCoinKid]

Bought a roll of '64 Kennedy halves at 14x face, my first purchase since silver dropped below $18.00. A bit high for a pure silver investment, but these were BU in the original mint roll.

I still think silver prices have a way to go before hitting bottom, but not knowing for sure, I thought I would dollar cost average a wee bit

TCK

 

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[Marchas45]

For BU that's not to bad Kid. Keep Stacking

 

[jim4silver]

Bought a roll of '64 Kennedy halves at 14x face, my first purchase since silver dropped below $18.00. A bit high for a pure silver investment, but these were BU in the original mint roll.

I still think silver prices have a way to go before hitting bottom, but not knowing for sure, I thought I would dollar cost average a wee bit

TCK

TCK,

That is a good grab on the Kennedys.

Since they have already pushed it to 14 and change I would not be surprised if it gets pushed down that far again if the dollar keeps going up. At some point the premiums will start making up the difference between the paper price and the price it takes to get product to sell. Right now my local stores are full of stuff to sell- but its stuff they bought from the distributors for the most part (generics and ASEs, Maples, etc), and not from walk in sales.

The premiums on junk silver now make it cheaper to buy new silver Maples here. Whenever the premiums go up like that on junk silver it means nobody is selling it (not like normally at least). I remember buying junk silver at melt not too long ago.

When I go to the store and see all that nice generic in the display case all I can think of is the alibaba ads from China for plated bars, etc. I know that all they have for sale in my local store is legit but I can't help it.

Just my opinion.

Jim

 

[TheCoinKid]

I agree with you 100% on the generic bars/rounds. I stay with govt issued. I've been wanting some more Maple Leafs, but I've only seen rolls (25 for Maple Leafs) drop slightly below $500 a couple of times. Still cheaper for me to buy halves, which is the only thing I've bought this year. Picked up another roll of 90% Kennedy Halves for 13x yesterday.

TCK

 

[jim4silver]

I agree with you 100% on the generic bars/rounds. I stay with govt issued. I've been wanting some more Maple Leafs, but I've only seen rolls (25 for Maple Leafs) drop slightly below $500 a couple of times. Still cheaper for me to buy halves, which is the only thing I've bought this year. Picked up another roll of 90% Kennedy Halves for 13x yesterday.

TCK

You get better deals that I do on 90%. They want 13.75 or so for average 90% halves, which comes to $19.23 per ounce of pure silver. I can get brand new silver Maples, any amount (even less than a full roll) for less than $19 per coin. In my situation it is a no brainer to take the Maples. However when I can score BU halves for that price I would take those over the Maples or Eagles.

Jim

 

[fistfulladirt]

I stopped in to show my LCS guy a few nice coins I'd dug this year. Glanced over the display case and a couple nice Englehard 10 oz'ers with a nice tone caught my eye. "How much?", I asked. "Fourteen each", he says...

"Fourteen?" I replied...."Yep, that's how much I've got into them, they're counterfeits, silver-plated nickel" he says.

He then went on to explain the differences to me. I got an education.

 

[TheCoinKid]

You get better deals that I do on 90%.Jim

Not the case most of the time.

I got lucky with an ebay seller that really didn't know what they had. I ended up with 2 BU '64 Kennedy rolls for $270, delivered. When they arrived today, I had to bust open a roll and put one coin under a loupe to see what I really received. I have other BU rolls of '64 Kens, but these are the best I've seen. Absolute blazers, with that mint edge you get with truly uncirculated coins.

When I found the listing, she had 50 rolls for sale and hadn't sold any in 4 days. I bought my 2 rolls (one with the best offer option) and gave her a listing tip (not price-related). After revising her listing, as I suggested, she sold out in 36 hours. Had I known what they looked like, I may well have bought the whole lot.

TCK

 

[pronghorn]

I stopped in to show my LCS guy a few nice coins I'd dug this year. Glanced over the display case and a couple nice Englehard 10 oz'ers with a nice tone caught my eye. "How much?", I asked. "Fourteen each", he says...

"Fourteen?" I replied...."Yep, that's how much I've got into them, they're counterfeits, silver-plated nickel" he says.

He then went on to explain the differences to me. I got an education.[/QUOTE


WOW fist, I have been reading your posts here for a very long time, it surprises me that you would get educated on anything. LOL, I mean that as a compliment as you have always struck me as very educated source on everything you post here!

 

[jim4silver]

I have a little extra cash now but don't really feel like buying $17+ considering there was a $14 handle not too long ago. Once we clear $18-$19 (if that ever happens) I will finally be done buying silver.

One of my stores has a couple of rolls of what they claim are BU dimes (in tubes not orig rolls) that would cost me close to the same as 2014 ASEs per ounce of pure silver (approx $3 over melt). That seems a bit steep to me but I will have to see them. Wish they were BU quarters or halves, even at that price I would grab them.


Jim

 

[Mackaydon]

I look forward to more downward pressure on PMs, especially at year end when many investors may sell and take the tax loss, then hold cash until the PM market continues to recede to an even lower level, when they (and I) will buy in. I'm holding out for silver at $12; meanwhile taking no loss.
Don.

 

[Goose-0]

I see that the U S guv'mint dumped silver on the market today.....silver down about 70 cents an ounce to keep the dollar high.

 

[fistfulladirt]

I see that the U S guv'mint dumped silver on the market today.....silver down about 70 cents an ounce to keep the dollar high.

Is that why there's record ASE sales?

 

[jim4silver]

Picked up some cool cheap foreign silver I found. One item I got is a Normandy 50th Anniversary coin set for $28 (melts at roughly $24). Has a US commemorative dollar and a French silver coin (both 90%). Actually has real sand from two beaches invaded on D DAY - Normandy and Anzio (supposedly real but you never know). Kind of cool either way. Plus lots of maps and stuff re: the invasion. Some day I will ebay it. Can't find any on ebay now but found one to show.

BATTLE OF NORMANDY 50TH ANNIVERSARY COIN SET

Jim

 

[TheCoinKid]

Can't lose on that one.

 

[jim4silver]

Can't lose on that one.

That's really the only kind of stuff I get anymore. Even if I never sell on ebay I know I have some built in cushion if silver keeps dropping more.

I also got something else cool for $2 or so over melt for the whole thing (total paid $130). My local dealers hate this stuff when you sell it to them and they usually melt it. These coins are sterling which I am not crazy about but set has all paperwork, etc. and are nice looking.

This is not my set but mine is like it.

1984 Sarajevo Yugoslavia Winter Olympics Silver 15 Coin Proof Set w Box COA | eBay

Jim

 

[Mackaydon]

Hope you all dumped your silver earlier in this 4th quarter (or even earlier) to take your tax loss and be prepared to buy back in 2015.
The year end "dumping" continues today (to take the tax loss in 2014). Silver now at $15.59 as I write this.
Happy New Year !!
Don....

 

[bradley1719]

I'm thinking that we will continue to see much of the same in 2015. I believe it will be 2016 or even early 2017 before we really reach the bottom and stay there with almost zero premiums. There is no reason to run back out and buy a bunch of silver while trying to time the bottom. When it hits bottom it will stay there for about a year before it begins climbing back up very, very slowly.

I don't know where the bottom will be, but you'll have plenty of time to see it because the price will languish there for quite a while. All just my opinion.

 

[Mackaydon]

You may be right. My current buy-back-in target for silver is $12.

 

[jim4silver]

I understand wanting to get the lowest price, but I would not have the amount of ounces that I am seeking if I waited for some possible lowest number to start buying. I am confident at some point in the next 10 years at most silver will hit 100, but probably sooner rather than later. The difference between now and 12 is not that much to me for the long haul. I plan to stop buying once we break 20 or so since I have accumulated much of my stash at that level and below on a dollar cost basis.

Much of my stash now has semi numismatic value but I only count it for bullion when I consider what I want to accumulate before I stop buying and look for the next thing. Right now formerly coveted items are on sale like MS 65 St. Gaudens and other such goodies that will again some day bring much higher prices. Just gotta wait it out.


Just my opinion.

Jim

 

[jim4silver]

I got what I think is an amazing deal. I was at one of my local stores and the worker offered me some 2 oz Australian silver lunars series 1 coins. I had no idea what the hell that meant yesterday but now I know.

I got a 2007 Tiger (I think they minted these in 2010 but they say 2007 on the coin?), 2005 Rooster and a 2007 Pig. I paid $15 over spot per coin ($7.50 over per ounce since they are 2 oz coins). They have a different 2 oz Tiger with the 2010 date on them but they are not worth as much as the 2007 coins. I guess the low mintages on these mean something to some.

Initially I said no because I didn't know what they were worth and that seemed too high to pay per ounce, but decided to do a quick ebay search and then went back in and bought them. Here are what some have sold for recently on ebay posted below. I really really really need to get set up for ebay plus paypal but I hate the thought of having to deal with individuals to sell vs. selling to coin stores as I have pretty much always done in the past. But in this case that is not an option if I want to maximize profits on this crap.

Australia 2010 $2 Year of The Tiger 2oz 999 Large Silver Lunar Coin UNC Scarce | eBay

2007 Australia 2 oz Silver Lunar Series 1 Year of The Pig 2 Dollar 999P | eBay

2005 2 oz Silver Lunar Rooster Bullion Coin | eBay

Once I got home I thought they must be fakes so I carefully took out the coins and weighed them and gave them a very mild ping test and they seem legit.

Jim