Good Time to Buy PM's?

[Johnnybravo300]

The way people are melting junk silver there won't be much left of it around.

 

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[Jason in Enid]

The way people are melting junk silver there won't be much left of it around.

Sadly, it does nothing to raise the collector value of the remaining pieces!

 

[fistfulladirt]

Back in the $15's.

 

[jim4silver]

The way people are melting junk silver there won't be much left of it around.

Even with the low premiums it does not pay to melt junk silver unless it is damaged, bent, cull, etc.

When that stuff is sent to the refiner the return is much less than when 999 is sent. The refiners pay less because of the non silver components in junk silver. Would be smarter to re sell it than melt it.

 

[Johnnybravo300]

The dudes are saving the junk to melt in the future when prices go up. They aren't melting it now I wouldn't guess, just collecting all they can for a big meltdown.
Some shops I've seen sometimes still getting 14 or 15 x even now especially Merc dimes and walking liberty halves. Some shops are mighty proud of them....or do they know what they have? I like mercs and walking liberty halves but I'd never sell mine until I'm ready haha. I'm more a sucker for Morgans and peace dollars not sure why. I just like that weight of silver and feels man good ya know? Like the weight a mountain man would take to town for a new jetboil or tent ya know? A real man back when we had real money.
Or how bout the limited edition 1964 Kennedy half, 100 years from now. I'm not talking about this for me but for great grandkids down the road and we'd be like the future Rockefellers with passed down wealth. All this old nice junk silver that's worth a mint.....
I'm not sure about the future of it but we'll see in 20 or 30 years how it's selling. I'm willing to bet that silver will be up and premiums will be up too so winner either way!
( I always hate to hear people say" if nothing else it's still worth face value...") ( Are they r3t@rd$d)

 

[Johnnybravo300]

Who in 1911 could ever imagine someone paying what we pay for $5 gold Indian heads and the like.
What was $5 for them was $325 for me.
$17 premium to my dealer and I rounded it up a couple of bucks of cream for him. Spot was $304 at the time for a qtr oz. Just saying don't discount the obvious.

 

[pat-tekker-cat]

Falling falling falling, keep them doggies falling.....

wait, that don't seem quite right......


Wonder how far the swing reaction will be......

Last time I sold(scrap gold), gold had (just) barely hit 1900 that day (for about 2 minutes, I think),
yeah, I'll take 95%, at that price......

 

[jim4silver]

Been accumulating some foreign bullion lately that I've gotten fairly cheap (some Australian stuff boxed with COAs, etc).

Also getting more US silver dollars at wholesale level. I'm a bit nervous with the silver dollars because generally they are a bad investment (for stacking due to high premiums). I have picked up in the very recent past some AU Peace commons for cheap, and this week got some nice common year Peace dollars graded MS61 and 62 (NGC) at wholesale prices. Paid $20.50 each and grabbed a decent amount.

I am thinking of selling at some local gun shows and my foreign stuff would not do well there (except maybe the Libertads). I do at least 1 coin show a year and I would like to do more but the cost for a table is high at the coin shows. It is really cheap at the gun shows. Sometimes 1/5 or less than you would pay at the coin show.

I know the gun buyer type coin guys love silver dollars and such. I am going to keep accumulating at these levels (or lower) if my local guys keep selling to me at wholesale levels.

Although I have no real love for silver dollars (other than they are silver and somewhat pretty), I believe most collectors think they are really cool. A couple of years ago the premiums were crazy high. Hoping that comes back over time when/if silver goes up again.

 

[Johnnybravo300]

I love the old peace and morgans, not sure why. I have a thing for junk silver.

I see that nationwide deal I posted about earlier about the 1/10 gold for $115 is at $125 now! Those sneaky devils!!

Still a good deal at $1250 oz Imo.

 

[fistfulladirt]

I love the old peace and morgans, not sure why. I have a thing for junk silver.

I see that nationwide deal I posted about earlier about the 1/10 gold for $115 is at $125 now! Those sneaky devils!!

Still a good deal at $1250 oz Imo.

I love Peace, Morgan and 90% Kens. The premium on silver dollars is cra-zee! Kennedys not so much.

 

[Johnnybravo300]

Here's another list with various dealers. Not a bad way to add 50 ozs to your stack for no premium.

https://findbullionprices.com/buy-silver-at-spot-deals.php

 

[jim4silver]

This article gives a few reasons why silver might be at a bottom.

https://www.streetwisereports.com/a...-set-up-for-silver-that-i-have-ever-seen.html

 

[Marchas45]

Bottom or not I'm still stacking along with Cryptos now. Lol Gotta keep up with the young folk. Lol Hi! everyone nice to be back. Charlie

 

[cactusman]

My rule of thumb on such things are one, do you have the money free to invest? If yes, move on to number two, which is are you willing to take a risk? If yes, move on to number three, which is are you willing to hold onto it for a long time, through the ebbs and flows? If yes, move on to number four, which is how do the markets look? How about the data to back up what the markets are doing -- does it match up? -- Next try number five, which are some precious metal forums -- are the posters being negative? If so, that may actually be a good indication to buy; as if you are hearing about precious metals (or any other investment) by Joe Blow on the street, you've already missed the boat.

 

[fistfulladirt]

My rule of thumb on such things are one, do you have the money free to invest? If yes, move on to number two, which is are you willing to take a risk? If yes, move on to number three, which is are you willing to hold onto it for a long time, through the ebbs and flows? If yes, move on to number four, which is how do the markets look? How about the data to back up what the markets are doing -- does it match up? -- Next try number five, which are some precious metal forums -- are the posters being negative? If so, that may actually be a good indication to buy; as if you are hearing about precious metals (or any other investment) by Joe Blow on the street, you've already missed the boat.

Cactusman, it sounds as if you are describing the stock market. Physical PM’s are not a good investment choice. What they are is a hedge, or insurance against economic turbulence. The markets? Rigged, and have been for decades.

I’ve paid thousands of dollars towards homeowners and auto insurance for a very long time, (well over half my lifetime) with nothing to show for it, feels a bit like throwing money out the window. I don’t feel bad spending a bit on metal insurance, year after year, regardless of price.

 

[Johnnybravo300]

I remember the reset after 9/11. I had been pondering buying gold at $350 but seemed expensive and I had about $15,000 saved. Gas and groceries doubled and tripled after the towers fell and my $15,000 was worth a half or third while gold jumped to record levels. If I'd only known then.....

 

[fistfulladirt]

I remember the reset after 9/11. I had been pondering buying gold at $350 but seemed expensive and I had about $15,000 saved. Gas and groceries doubled and tripled after the towers fell and my $15,000 was worth a half or third while gold jumped to record levels. If I'd only known then.....

Or, was it just that gold’s value remained the same, while the dollar’s value crashed tremendously?

 

[Johnnybravo300]

Yep, the dollars value crashed but the metals held on like always. Same $h1t different decade hehe.

 

[Johnnybravo300]

Today a new guy mentioned he was about to spend some silver change for cigs and my ears perked up haha. The new guys are perpetually broke on the road and spend more that they earn daily so it wasn't hard to convince him to sell them to me instead of spending them.
I offered him a buck a piece so he had some cig money and I scored a few for the stack.
He decided to keep an old barber quarter and a war nickel for now but when the nicotine withdrawals kick in I'll get those too. Someone has to win right?

 

[jim4silver]

Any one else buying this week? I set out to buy some cheap bullion and wound up buying semi numismatic instead - a complete Australian Lunar series 1 silver coin set in a pretty red velvet case for $450 (12 coins). I normally only buy stuff close to melt but I can sell this set for a nice profit if I decide to unload it. This series is one of my favorites and now I have two and a half complete sets of these coins.

Looks like this one:

https://www.apmex.com/product/162672/1999-2010-australia-12-coin-1-oz-silver-lunar-set-si-red-box