Buying Coins?

[weighit]

Around here the Pawn shops are buying coins at really low rates, and I'm sure getting their fair share from the folks selling them. I'm watching the silver prices and feel over time they are sure to rebound upward. I'd like some thoughts from people here a lot smarter than I am about me posting an ad in Craig's List to buy silver coins at SPOT. I figure if I spend a grand or so buying silver now, and sitting on it for the time needed to make a profit I'd come out ahead. I will still buy boxes as I have been doing for years and hunting free silver at the banks tellers, but this would be in addition to the fun of hunting. Opinions??

 

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[Pete_Iredale]

"I'm watching the silver prices and feel over time they are sure to rebound upward."

Why? Historic prices have been far lower than they currently are... Precious metals are a terrible investment. Unless you know when a bubble is going to happen, you aren't going to come out ahead. And to put it in perspective, there have only been two bubbles in the last 40 years.

 

[Liu21]

Silver will not breach below 14$ and oz. I'm willing to bet all my crh silver on it. If you can get silver for around 15 right now. Do it! Sure silver has some historic lows of 10 or less $$, but you have to think about the inflation rate from all the QE the fed did to boost/prop up the economy.

 

[baddbluff]

"I'm watching the silver prices and feel over time they are sure to rebound upward."

Why? Historic prices have been far lower than they currently are... Precious metals are a terrible investment. Unless you know when a bubble is going to happen, you aren't going to come out ahead. And to put it in perspective, there have only been two bubbles in the last 40 years.

Amen, brother.

 

[baddbluff]

Silver will not breach below 14$ and oz. I'm willing to bet all my crh silver on it. If you can get silver for around 15 right now. Do it! Sure silver has some historic lows of 10 or less $$, but you have to think about the inflation rate from all the QE the fed did to boost/prop up the economy.

Silver is already under $15 right now. It could go under $14 today. No one knows. If the stock market rebounds (which it ALWAYS does, unlike PMs), watch out! You could be sitting on your silver stash and ride it all the way down to $4/oz. I don't hold on to it anymore. I already watched my 300+ oz stash lose 1/3 of its value before I sold it at about $27/oz. And boy am I glad I finally dumped it!

 

[LooseChange]

... Precious metals are a terrible investment. Unless you know when a bubble is going to happen, you aren't going to come out ahead. And to put it in perspective, there have only been two bubbles in the last 40 years.

You got that right Pete.
In all likelihood, there will be another PM surge - you just don't know when or how big. If it is soon and big, you win. Odds are though, the best you will do is a tie if you "invest" in PMs.

The way to beat everyone else in PMs is to
1) Get Ag at face value through CRH
2) Hold your Ag until the Au to Ag spot ratio is in the 50's
3) Trade your Ag for Au
4) Hold your Au until the Au to Ag spot ratio is in the 70's
5) Trade your Au for Ag
6) Always keep doing #1
7) Do 2-3 or 4-5 every time it occurs
8) Sell when there is a big unnatural spike in demand for physical PMs

 

[statch]

Look, PMs are very misunderstood and I'm seeing that some (many, most, or maybe all) of you don't understand their purpose. PMs are NOT an investment. With investments, you receive returns.

This is not the role of PMs. Anybody referring to PMs as an investment, pointing to the lack of returns (doh) and downplaying their importance doesn't understand their function. They are a hedge. They are a means simply to preserve wealth and have always been used for that purpose. Unfortunately with the way governments are inflating their currencies, it gives the false appearance that someone who holds PMs is "Investing" and receiving returns on that "Investment. Not so. Their wealth remains the same. If I have 1 oz of AG, I will have 1 oz of AG. Even in a hyper inflationary environment.

Investment - Used to increase wealth

PMs - Used to preserve/maintain wealth

weighit, if you're worried about inflation and want to maintain your level of wealth then YES buy up PMs. If you're wanting to increase you're wealth there are many other means to do so.

Although no one can predict the timing of future price movements of AG and AU, what you can look at are the economic fundamentals that put upward and downward pressure on these two PMs. When you understand the fundamentals, there is no guessing what will happen, the only unknown will be when things will happen.

Anyone who jumps your gun about PMs being a bad investment truly don't understand their purpose.

 

[statch]

Silver is already under $15 right now. It could go under $14 today. No one knows. If the stock market rebounds (which it ALWAYS does, unlike PMs), watch out! You could be sitting on your silver stash and ride it all the way down to $4/oz. I don't hold on to it anymore. I already watched my 300+ oz stash lose 1/3 of its value before I sold it at about $27/oz. And boy am I glad I finally dumped it!

All power to you man but I do have to point out that your AG did exactly what it was supposed to. Your 300+ oz stack weighed exactly the same the day you sold it as it did the day you bought it. It maintained your wealth. Problem is, you're choosing to see wealth in terms of dollars instead of what dollars were created to represent. Fiat currencies were only representations of real value but now with no backing other than a guarantee from a fictional entity ridden with an exorbitant amount of unsustainable debt. I really don't feel like delving into the deep fundamentals of money and legal jargon right now so I wont. Plus this isn't the forum for that.

The bottom line is that you need to look at Fiat currency as a game being played by many but its the controlling financial entities that own the board and make the rules. You've let them convince you that the shiny stuff in your safe was not wealth and that special paper with green ink is somehow different than what's in your printer or next to your toilet. It's when you traded your shiny stuff for the magic bills that you played into a volatile fiat market resulting in lost wealth.

I only say this because there seems to be a big disconnect with PMs and their role in society. Your experience highlights that disconnect. Your circumstance is becoming ever increasingly common which is unfortunate to observe. PMs must be understood and used properly (ie not purchased and sold on every whim of the market). It's not their fault when they aren't.

 

[weighit]

Statch you make some really interesting points. Almost all of the coins I'm sitting on now came from roll hunting having only purchased a small amount. I will do some more investigating and see what I find. Thank you for your incite.

 

[ceeemeee]

Silver will not breach below 14$ and oz. I'm willing to bet all my crh silver on it. If you can get silver for around 15 right now. Do it! Sure silver has some historic lows of 10 or less $$, but you have to think about the inflation rate from all the QE the fed did to boost/prop up the economy.

What do I need to put up on my side to accept this open ended wager that has no time frame?

 

[foofighters]

Silver will not breach below 14$ and oz. I'm willing to bet all my crh silver on it. If you can get silver for around 15 right now. Do it! Sure silver has some historic lows of 10 or less $$, but you have to think about the inflation rate from all the QE the fed did to boost/prop up the economy.

"Some" historic lows of 10 or less? More like HISTORICALLY below 10 dollars and more like in the 5 to 7 avg.

If the Fed were to somehow miraculously raise interest rates in December silver will most likely go below 14 if not before.

 

[fistfulladirt]

I haven't had much luck buying silver from private parties, because, 'I'm not a licensed dealer'. IOW, folks would rather accept less from a coin dealer because he's in the business of buying coins. I have offered to beat a dealer's offer by 10% and have lost deals.

The pawn shops around here don't like to deal in silver or gold coin because of the sharp price changes. The ones that do, want almost twice melt on junk silver, and they are waiting for suckers.

 

[GlenDronach]

I haven't had much luck buying silver from private parties, because, 'I'm not a licensed dealer'. IOW, folks would rather accept less from a coin dealer because he's in the business of buying coins. I have offered to beat a dealer's offer by 10% and have lost deals.

The pawn shops around here don't like to deal in silver or gold coin because of the sharp price changes. The ones that do, want almost twice melt on junk silver, and they are waiting for suckers.

The "licensed dealer" thing still gets me. I guess they're looking for licensed cash. I don't have any of that...

 

[norcalsteve]

"Some" historic lows of 10 or less? More like HISTORICALLY below 10 dollars and more like in the 5 to 7 avg.

Look at the price of gas. It goes up and down also. It has been manipulated by our government and Arab Nations over the years. When I started driving in 1973 gas "spiked" to .55 I do not think it will ever visit that price again.
I may be wrong but I do not think silver will fall below $10.00.

 

[foofighters]

"Some" historic lows of 10 or less? More like HISTORICALLY below 10 dollars and more like in the 5 to 7 avg.

Look at the price of gas. It goes up and down also. It has been manipulated by our government and Arab Nations over the years. When I started driving in 1973 gas "spiked" to .55 I do not think it will ever visit that price again.
I may be wrong but I do not think silver will fall below $10.00.

I don't think it will either Steve but that doesn't mean it won't or cant.

I didn't think we would see 40 dollar oil or 3 dollar corn yet here it is.

I'm a silver bull and I'll just keep on stacking because I'm not waiting, it's a good time to buy physical right now with dip as its coinciding with premiums coming back to earth.

 

[ceeemeee]

Silver will not breach below 14$ and oz. I'm willing to bet all my crh silver on it. If you can get silver for around 15 right now. Do it! Sure silver has some historic lows of 10 or less $$, but you have to think about the inflation rate from all the QE the fed did to boost/prop up the economy.

Where should we meet so I can pick up all your crh silver? Went into the $13's today.

 

[fistfulladirt]

We dealing with the paper price now. Any low is possible.

My real silver is worth no less than $50/oz. In my mind.

 

[oneguy]

Look, PMs are very misunderstood and I'm seeing that some (many, most, or maybe all) of you don't understand their purpose. PMs are NOT an investment. With investments, you receive returns.

This is not the role of PMs. Anybody referring to PMs as an investment, pointing to the lack of returns (doh) and downplaying their importance doesn't understand their function. They are a hedge. They are a means simply to preserve wealth and have always been used for that purpose. Unfortunately with the way governments are inflating their currencies, it gives the false appearance that someone who holds PMs is "Investing" and receiving returns on that "Investment. Not so. Their wealth remains the same. If I have 1 oz of AG, I will have 1 oz of AG. Even in a hyper inflationary environment.

Investment - Used to increase wealth

PMs - Used to preserve/maintain wealth

weighit, if you're worried about inflation and want to maintain your level of wealth then YES buy up PMs. If you're wanting to increase you're wealth there are many other means to do so.

Although no one can predict the timing of future price movements of AG and AU, what you can look at are the economic fundamentals that put upward and downward pressure on these two PMs. When you understand the fundamentals, there is no guessing what will happen, the only unknown will be when things will happen.

Anyone who jumps your gun about PMs being a bad investment truly don't understand their purpose.

Statchs' comments are spot on. Everyone should re-read both his posts several times over to understand the difference between REAL wealth and fiat wealth. An ounce of gold will always be an ounce of gold, always has been...always will be. Just look at a gold chart and notice what happened since Nixon took us off the gold standard in '72 (?). Keep stacking whatever you stack and don't worry about paper price fluctuations. Sleep well at night knowing you have some real wealth preserved...... jmo

I stack little silver but more gold and get a warm fuzzy feeling having it on the property..........

 

[ceeemeee]

Statchs' comments are spot on. Everyone should re-read both his posts several times over to understand the difference between REAL wealth and fiat wealth. An ounce of gold will always be an ounce of gold, always has been...always will be. Just look at a gold chart and notice what happened since Nixon took us off the gold standard in '72 (?). Keep stacking whatever you stack and don't worry about paper price fluctuations. Sleep well at night knowing you have some real wealth preserved...... jmo

I stack little silver but more gold and get a warm fuzzy feeling having it on the property..........

Well by that logic, one piece of green paper will always be one piece of green paper. If you use words like hedge or value, you will always need a reference point. In the case of green paper, the reference point would be the amount of goods you can exchange for it (this covers inflation/deflation). In the case of PM's the reference point would be the number of green pieces of paper. Trying to look at either without ability to use a reference point is a futile exercise.

 

[IceePirate]

I think silver is going to bound itself up for the holidays then drop in jan/Feb. Gifts and stuff and e
People selling gifts.