Had to buy some coins! :-)

[jrf30]

Silver closed at $18.80 per ounce on Monday. Tuesday it dropped to $17.92. This morning, it dropped again, all the way down to $17.10. What a drop for 1 and a quarter days! So I took advantage of it. I bought 60 American Eagle silver coins (1 ounce coins) this morning, at $19.30 per coin. I just don't think silver can be a bad buy, and having it drop so much so quickly gave me a shot to buy what I wanted. I should have bought more than 60 coins, but getting all the ones we get at FACE VALUE by finding them doing CRH just makes it hard to pay premiums for coins. I'm sur eyou guys know what I mean. lol. But I like the eagles, and the price was good, so I bought 60 more.

Hopefully silver will go back to $18.50 an ounce, and they will be sitting on some profit for me. :-)

 

[mts]

That's a good buy. I'm waiting for a couple more days to see if it goes down even more. If it does I might pull the trigger on a 500 box of silver eagles. I'll probably regret waiting though. The price will probably jump back up again before I have the chance to buy. But as I said in another post, I'm a bit wary of buying some more silver right now unless I get a really good price on it. Silver is still highly speculative and I've already bought quite a bit this year. But I'm addicted to it and I just love looking at stacks and stacks of the stuff!

I still think that it is going up to $25+ in the next few years. But I've been wrong about such things many times before in my life. I'd hate to be wrong and end up losing a boatload of money. Then again, I'd hate to be wrong and end up missing out on making a boatload of money as well.

I think I'll get back to searching this box of pennies now. Guaranteed not to lose money... I like that!

 

[rileyboy]

I think gold may be there better way to go. I purchased a few gold coins
about a year ago when gold was about $880 an ounce. It's easier to store
then all that silver. Just a thought.
rileyboy

 

[timbobwey]

I will buy some silver when it goes below 15 an ounce. More money to be made if you buy when it gets low. I'd buy a lot if it dropped to like 12 an ounce. It always bounces back, and there will be times when it hits low. The lower the spot price, the better time to buy. Then just sit and wait till it peaks back up to 18-20 an aounce. You could really make a lot of money that way.

 

[mts]

I wish that I would have bought gold back then too. But now I think it is a little overvalued so I'm not buying gold right now. I'll probably be kicking myself in a couple of years when it jumps to $1500 but what can you do? It's all speculation. Especially with all of the supposed price fixing going on.

jrf30, What years did you get for those 60 coins and where did you buy them? Did you get random years or did you buy a specific year? One of the decisions I'll have to make if I pull the trigger on a purchase is whether or not to get 2010's. The mintage is supposedly lower on these but I'm not sure if they will actually pull a slightly higher premium in the future. The coin collector in me would like to have a bunch of random years to have a good representative sampling. But the investor in me wants years that are lower mintage and might pull a premium if possible. Thoughts? Does anyone think that the 2010 silver eagles will be worth more down the road than other random years? On APMEX the 2010's are going for 10 cents more per coin than random years. And the 2009's are going for 70 cents more per coin.

 

[obediah]

Silver closed at $18.80 per ounce on Monday. Tuesday it dropped to $17.92. This morning, it dropped again, all the way down to $17.10. What a drop for 1 and a quarter days! So I took advantage of it. I bought 60 American Eagle silver coins (1 ounce coins) this morning, at $19.30 per coin. I just don't think silver can be a bad buy, and having it drop so much so quickly gave me a shot to buy what I wanted. I should have bought more than 60 coins, but getting all the ones we get at FACE VALUE by finding them doing CRH just makes it hard to pay premiums for coins. I'm sur eyou guys know what I mean. lol. But I like the eagles, and the price was good, so I bought 60 more.

Hopefully silver will go back to $18.50 an ounce, and they will be sitting on some profit for me. :-)

I'd be careful when you like something, it could cost you; way I look at this stuff, Silver and PM's in general, they are no more than a place & way to preserve wealth, likeing any particular form of them is not even in my vocabulary- psychology, I simply look for best below Spot opportunities can find top get out of $'s!

 

[Kauka]

I will buy some silver when it goes below 15 an ounce. More money to be made if you buy when it gets low. I'd buy a lot if it dropped to like 12 an ounce. It always bounces back, and there will be times when it hits low. The lower the spot price, the better time to buy. Then just sit and wait till it peaks back up to 18-20 an aounce. You could really make a lot of money that way.

Agreed if it's bullion that is following the price of silver.
I've found that dealers don't follow the price closely, particularly with coins that actually have numismatic value.
Hence, CRH is our cheap way of getting silver at a great deal!

 

[jrf30]

I wish that I would have bought gold back then too. But now I think it is a little overvalued so I'm not buying gold right now. I'll probably be kicking myself in a couple of years when it jumps to $1500 but what can you do? It's all speculation. Especially with all of the supposed price fixing going on.

jrf30, What years did you get for those 60 coins and where did you buy them? Did you get random years or did you buy a specific year? One of the decisions I'll have to make if I pull the trigger on a purchase is whether or not to get 2010's. The mintage is supposedly lower on these but I'm not sure if they will actually pull a slightly higher premium in the future. The coin collector in me would like to have a bunch of random years to have a good representative sampling. But the investor in me wants years that are lower mintage and might pull a premium if possible. Thoughts? Does anyone think that the 2010 silver eagles will be worth more down the road than other random years? On APMEX the 2010's are going for 10 cents more per coin than random years. And the 2009's are going for 70 cents more per coin.

I bought through bulliondirect.com. They have a low spread on their "nucleo" trading system. At one point today, the bid was $19.56 and the ask was $19.60. Can't beat that! I don't know what years they will send, but normally they send current or one year ago. I'm guessing 2009 will come.

As for 2010, I don't see a lower amount being minted this year because demand is up. And for the past 4 years, the current year always had a premium, but once it ends the premium disappears. the 2008 had premium in 2008, and now is just another year to them. So I don't worrya bout current year.

I have a box of 2005, a box of 2008, a box of 2009, and then lots of odds and ends. SOme from 1999, 1995, 200, 2001, and some more of the 2005 and 2008's. It just goes all over the place. maybe I'll even get some 2010s on this order.

Look at some of the articles on coinflation and most say that silver should outperform gold over the next few years. Various reasons, but hte biggest two to me are the ratio is high right now and the usage of silver makes it rarer than people think it is. Add to that the short position in it (Illegally, imo) by some banks, and that might spike it up at some point too. So I'm in silver this time around, not gold. have owned both. Like obediah, I don't marry the stuff. I buy and then sell when I think it is right to sell. Actually, the reason I did this little order for 60 is because I just sold 50 at $22.50 on craigslist last week. I was flipping some, and so this replaced those that I sold, with some extra coins added for about the same cost of what I sold. It cost me $60 more net to buy 10 more coins than I sold a week ago. that adds ten more coins to my collection at basically NO cost. Sorta like CRH. :-) Ill throw another ad on C.L. soon for maybe $21.50 and see if I can sell some more. then buy them back and replace them at a lower price. Makes sense to me. :-)

later. Gotta do some work.

 

[mts]

Thanks for the info and congrats on the great deal!

 

[Kauka]

I wish that I would have bought gold back then too. But now I think it is a little overvalued so I'm not buying gold right now. I'll probably be kicking myself in a couple of years when it jumps to $1500 but what can you do? It's all speculation. Especially with all of the supposed price fixing going on.

jrf30, What years did you get for those 60 coins and where did you buy them? Did you get random years or did you buy a specific year? One of the decisions I'll have to make if I pull the trigger on a purchase is whether or not to get 2010's. The mintage is supposedly lower on these but I'm not sure if they will actually pull a slightly higher premium in the future. The coin collector in me would like to have a bunch of random years to have a good representative sampling. But the investor in me wants years that are lower mintage and might pull a premium if possible. Thoughts? Does anyone think that the 2010 silver eagles will be worth more down the road than other random years? On APMEX the 2010's are going for 10 cents more per coin than random years. And the 2009's are going for 70 cents more per coin.

I bought through bulliondirect.com. They have a low spread on their "nucleo" trading system. At one point today, the bid was $19.56 and the ask was $19.60. Can't beat that! I don' tknow what years they will send, but normally they send current or one year ago. I'm guessing 2009 will come.

As for 2010, I don't see a lower amount being minted this year because demand is up. And for the past 4 years, the current year always had a premium, but once it ends the premium disappears. the 2008 had premium in 2008, and now is just another year to them. So I don't worrya bout current year.

I have a box of 2005, a box of 2008, a box of 2009, and then lots of odds and ends. SOme from 1999, 1995, 200, 2001, and some more of the 2005 and 2008's. It just goes all over the place. maybe I'll even get some 2010s on this order.

Look at some of the articles on coinfaltion and most say that silver should outperform gold over the next few years. Various reasons, but hte biggest two to me are the ratio is high right now and the usage of silver makes it rarer than people think it is. Add to that the short position in it (Illegally, imo) by some banks, and that might spike it up at some point too. So I'm in silver this time around, not gold. have owned both. Like obediah, I don't marry the stuff. I buy and then sell when I think it is right to sell. Actually, the reason I did this little order for 60 is because I just sold 50 at $22.50 on craigslist last week. I wsa flipping some, and so this replaced those that I sold, with some extra coins added for about the same cost of what I sold. It cost me $60 more net to buy 10 more coins than I sold a week ago. that adds ten more coins to my collection at basically NO cost. Sorta like CRH. :-) Ill throw another ad on C.L. soon for maybe $21.50 and see if I can sell some more. then buy them back and replace them at a lower price. Makes sense to me. :-)

later. Gotta do some work.

That is some great coin flipping!

 

[tenseventyfive]

What about bullion? I realize coins have numismatic value, but if you're buying based on silver price, why not buy the 100oz. bars? Easy to store and transport, and a round number when calculating. I have looked at ingots / bars through APMEX and Stillwater Mining. Haven't bought any as of yet, but might be worth a look.

 

[fistfulladirt]

I will buy some silver when it goes below 15 an ounce. More money to be made if you buy when it gets low. I'd buy a lot if it dropped to like 12 an ounce. It always bounces back, and there will be times when it hits low. The lower the spot price, the better time to buy. Then just sit and wait till it peaks back up to 18-20 an aounce. You could really make a lot of money that way.

Agreed if it's bullion that is following the price of silver.
I've found that dealers don't follow the price closely, particularly with coins that actually have numismatic value.
Hence, CRH is our cheap way of getting silver at a great deal!

That's right. I bought a roll of Franklins from my dealer today at 13 X face. He can't keep junk silver in stock, he's selling it as fast as it comes in, regardless of the dip in melt price. He was selling me nice common Morgans at $15 ea. 3 years ago; he's still selling them today at the same price.

 

[mts]

What about bullion? I realize coins have numismatic value, but if you're buying based on silver price, why not buy the 100oz. bars? Easy to store and transport, and a round number when calculating. I have looked at ingots / bars through APMEX and Stillwater Mining. Haven't bought any as of yet, but might be worth a look.

My fear with 100oz bars is that it is very easy to drill them out and refill them with lead. If you are buying from apmex, bullion direct, tulving, or some other repuatable dealer then you probably don't have to worry about it. But buying them on eBay or CL would be a little worrisome to me. The 10oz bars are also nice and I prefer them to the 100oz bars. Although both can be drilled out, you can diversify your sources and limit your exposure to fraud easier with 10oz bars. If you buy 1 100oz bar and it is fake then you've lost close to $2000. But if you buy 10 - 10oz bars from a variety of sources then you aren't likely to end up with a 100% loss.

I like american eagles because they are nice coins and carry only a slight premium. I'm not big on paying premiums for coins (which is why I stay away from Morgan and peace dollars). So I tend to buy more silver bullion than I do coins. But I do have some maple leafs, pandas, australian coins, and plenty of junk silver too. Basically, I like to diversify.

 

[Kauka]

What about bullion? I realize coins have numismatic value, but if you're buying based on silver price, why not buy the 100oz. bars? Easy to store and transport, and a round number when calculating. I have looked at ingots / bars through APMEX and Stillwater Mining. Haven't bought any as of yet, but might be worth a look.

My fear with 100oz bars is that it is very easy to drill them out and refill them with lead. If you are buying from apmex, bullion direct, tulving, or some other repuatable dealer then you probably don't have to worry about it. But buying them on eBay or CL would be a little worrisome to me. The 10oz bars are also nice and I prefer them to the 100oz bars. Although both can be drilled out, you can diversify your sources and limit your exposure to fraud easier with 10oz bars. If you buy 1 100oz bar and it is fake then you've lost close to $2000. But if you buy 10 - 10oz bars from a variety of sources then you aren't likely to end up with a 100% loss.

I like american eagles because they are nice coins and carry only a slight premium. I'm not big on paying premiums for coins (which is why I stay away from Morgan and peace dollars). So I tend to buy more silver bullion that I do coins. But I do have some maple leafs, pandas, australian coins, and plenty of junk silver too. Basically, I like to diversify.

good point with the potential for hollowing-out the bullion bars
diversification from sources is also a safety point

 

[Argentium]

With regard to which format of silver bullion to buy - I rather like the 1 oz. maple leafs -
they are nice looking - and they are clearly denominated at 5 dollars - whereas the American
eagle is a one dollar denomination ( if the - *&^%$# - really hit the fan that could be a
factor) I have not found the American eagles to be affordable compared to the maples,
when it comes to the premiums either -Sources please ? Argentium.

 

[denmason]

I'm with you on this. Hoping to see silver drop even more and I'll just keep on buying. On Monday UPS will drop 160 one ounce rounds and bars on my doorstep. I'm thinking I'll be doing some "Silver Porn" videos on youtube.

 

[rwb83]

Silver closed at $18.80 per ounce on Monday. Tuesday it dropped to $17.92. This morning, it dropped again, all the way down to $17.10. What a drop for 1 and a quarter days! So I took advantage of it. I bought 60 American Eagle silver coins (1 ounce coins) this morning, at $19.30 per coin. I just don't think silver can be a bad buy, and having it drop so much so quickly gave me a shot to buy what I wanted. I should have bought more than 60 coins, but getting all the ones we get at FACE VALUE by finding them doing CRH just makes it hard to pay premiums for coins. I'm sur eyou guys know what I mean. lol. But I like the eagles, and the price was good, so I bought 60 more.

Hopefully silver will go back to $18.50 an ounce, and they will be sitting on some profit for me. :-)

So if one were to have alot of silver coinage and the prices went up on silver, where/how is the best way to off load the silver for a profit. The only place I've really known about is midwest refineries which I've used in the past for metal detecting finds and such. But, I would think there has to be a better or more profitable way to turn silver coinage over Anyone able to clue me in on the best process for this?

 

[quiksilver]

Do what many of the experts agree on, buy a little at a time when the price dips and that should keep you safe in the long run.

 

[FreedomUIC]

I got hooked on coin collecting in December of last year. My friend gave me a mint set from 1961 on my birthday, which by coincidence is 1961. I think I have read every book on Morgan's, Silver Eagles and Gold Eagles. It seems that every time a President's term is up, silver will rise substantially. I started collecting SE's in January of this year, I now have a complete set of BU coins from the beginning of the series to 2010. I have also purchased many odd's and end's of SE's in cases, slabbed and so on. I am thinking silver will hit close to $30.00 dollars an oz by the time the current president is up for re-election. I try to purchase junk silver from my coin dealer for around $20.00 an ounce, he often give's it to me at 18.50 to 19.00 depending on
the market. If the market hits $30.00 an oz, I am dumping all of my SE that are not slabbed and keeping the 1995 and 1996 as
they have a relatively low mintage rate. The Morgan's I am going to keep until I retire (another 15 year's), I am thinking they will at least double in price and some I have could possibly triple.

I enjoy looking at the coins and feeling the weight as I hold them, it is truly an addiction , just ask my wife.

Silver right now is the best IMO.

 

[jrf30]

With regard to which format of silver bullion to buy - I rather like the 1 oz. maple leafs -
they are nice looking - and they are clearly denominated at 5 dollars - whereas the American
eagle is a one dollar denomination ( if the - *&^%$# - really hit the fan that could be a
factor) I have not found the American eagles to be affordable compared to the maples,
when it comes to the premiums either -Sources please ? Argentium.

www.bulliondirect.com The American Eagles this morning (right now) on the NUCLEO system (Not the catalog) are $19.70 on the ask, and the Maple Leafs are $20.10 ask.

Are you finding the Maple Leafs cheaper than the eagles? What prices?

I just bought another 200 coins. On top of the 60 I bought yesterday. It dipped down to $19.50 on the ask, and I pounced on it. It was the lowest ask, and the second lowest was $20.10, so there was a nice gap where someone wanted to sell badly. So I bought another 200 at $19.50. Hopefully this "blip" happening today will reverse, and this will be a good point to have bought. :-)