When I bought my gold and silver, they were the only ones that had the 1 oz Gold American Buffalo Coins that were allowed for my Precious Metals Traditional IRA with GoldStar Trust Company. It's well worth your time.
Posted on 03/23/2017 10:22:36 AM PDT by SteveH
hi, wondering what the most economical way to go is for buying bulk contemporary usa silver dollars.
i got quoted a price of $20/silverdollar at a local jewelry store, quantity 100, immediate inventory. apparently a common unit of purchase is a 100 silver dollar bag. i would request the dollars be placed in plastic containers. very important: the plastic containers must not interact with the copper in the coins to produce a green patina. the reason for storage in rolls is to permit easy placement into flat style safety deposit boxes.
should i go with 1, 2, 3, or more bags?
i plan to make separate purchases for gold dollars.
is there still a requirement to notify the IRS for these types of purchases? especially larger gold purchases.
in california, apparently there is a minimum $1500 purchase price to avoid state sales tax.
i bought gold coins in the early 1990s, gradually spending them by the end of that decade. i surprised myself by making out quite well on gold investing (only about 20-30 $20 piece sized krugerrands, but still a confidence builder)
also would it make more sense to place in a safe deposit box? or a home safe? or in an attic? or some combination (eg, all 3)?
It’s good you found someone you can trust. I have about 100 silver half dollars, 40 walking and 60 franklin I want to cash in for a good cause. Gonna take a lot of foot work.
Sell them on eBay. Seriously. About $140 a roll of 20. Minus 10% for eBay and 3% for Paypal.
Sounds good in theory, but just "try" to withdraw your consent, and see what happens. HINT!!!! Won't be pretty.
Can you say: Civil War for $1000.00 Alex.
It’s not just theory; it’s fact and quite practical. Individually withdrawing your consent can be an issue, but an unjust government without our consent is tyranny. We have no moral obligations to such a government.
If that leads to the natural end point, it’s still better than slavery and oppression. I hope the Ctrl-Left will back down peacefully, but they have to be stopped.
There could be at least a couple of variants of “locally.”
* a large safe
* a heater duct
* a decoy can safe
* pvc garden tube
Comments
Should one even put money in a large safe at all? I am thinking about an armed robbery and hostage situation. the large safe is going to be one of the first places to get ransacked if one is not in control of the situation. Maybe leave some small bills in the big safe to keep armed robbers satisfied that they have found the real stash. (But what to do with all the hardware?) (so i only keep my ammo hoard in the big safe, lol)
I like the heater duct solution. It is old school but requires people to know where to look and at least adds an element of delay. However, will it harm the coins to keep them in a relatively hot environment? I like the plastic rolls. I do not want the plastic to interact with the metal.
A decoy can safe seems very safe, but only until TSHTF. After TSHTF, a decoy can safe does not seem safe to me, since people will generally be on the hunt for canned food.
A PVC garden seems safe from everyone except for government types sweeping for guns with a metal detector. I am not sure what would happen in that case but it seems uber-apocalyptic, so maybe it is OK. Along this line of reasoning, I do not like moisture. I wonder if there is some simple yet semi advanced means of double PVC storage, say on a hillside, in which the PVC is slanted in the up direction with the up side permanently sealed. Inside the large tube can be several smaller tubes, each also permanently sealed at one end. Inside the smaller tubes can be wrapped in plastic along with humidity pellets, your coins, hardware, ammo, whatever. Or would that be uber-overkill?
(any other variants?)
you are talking about an offshore gold stash, i suppose.
if so that sounds interesting.
your stash is in europe with family, it sounds like.
i just hesitate a bit because i envision that i would simply never be able to reach a stash so far away with family in tow. there would be too many physical barriers such as oceans and rivers to traverse. i could always get a small yacht but then the maintenance would become an albatross in itself (not to mention the SO nagging, if applicable). I would also have to learn how to sail and then maintain my seamanship skills. Relying on someone else to fly me somewhere does not sound practical, especially if intercontinental distances were to be involved.
Beyond that, do you have any thoughts about a safe haven stash in far east Asia? In particular, would there be any salient differences between such a stash in Europe, and a stash in far east Asia?
Also, if I were more concerned with travel and/or fleeing the USA during a crisis that I did not expect to survive intact if I stayed, then I would normally gravitate towards diamonds, rubies and other precious gems, since they do not set off metal detectors. Another possibility would be bearer bonds, but that is paper (and it would also leave a paper trail of sorts), so...
Yes, I should look at
thanks! I actually did not hear about them until after I posted my original inquiry. I hear that one can pay over the phone with a card and then receive a signed shipment in a couple of days, or something like that. It sounds like a reasonable alternative.
At the moment I have located a local coin dealer that says it has enough inventory to handle my current purchase objectives. So I might look at that first.
After the first round is squirreled away, then i figure that i will have some baseline experience from which i can more easily handle an occasional online transaction to increase the stash sizes.
Thanks for the pointer!
what in your opinion would be a good ratio of silver dollars to small silver coins?
Any timely responses to this question would be very much appreciated since I might go to a dealer today (in the PST, here in California).
When I bought my gold and silver, they were the only ones that had the 1 oz Gold American Buffalo Coins that were allowed for my Precious Metals Traditional IRA with GoldStar Trust Company. You can’t eat gold. Not supposed to anyway
*
I I like APMEX because I can order right online with a credit card and lock in the price, others require wiring them the money which I don’t care for.
I buy only Silver Eagles and Canadian Silver Maples, I also grab Morgan’s from the local shops when they have them.
Your coins are worth more then spot silver content. Obviously you are aware of the premium on silver Kennedy’s.
I bought a few gold coins on Ebay, but; I like deals on MS 60’s. I get very few MS quality at the pawn shop. I see mostly AU and lower. I doubt a pawn shop will pay the price you want, but; you may find serious buyers who frequent the shop. I run into diamond buyers, Rolex buyers, and; you name it. A number of gals buy their jewelry in pawn shops. It surprised me. The current drug crazy types keep these shops in new merchandise. Add the workers who steal while working in your house.
i was told that there are counterfeit silver eagles, too.
if i buy through coin dealers and ampex then i should get genuine stuff.
once i get genuine stuff there are some technical means to establish veracity or i can just use the ring test and listen for the proper frequency which cannot be counterfeited (yes?).
maybe there should be a separate procedure for buying from private parties. perhaps more emphasis or exclusive empshais on silver eagles from private parties?
then i might eventually end up with a mix of silver eagles and peace dollars.
perhaps it would be good to have a mix of silver eagles and peace dollars for its own sake, since after TSHTF, some folks might take one but not the other.
There is no smaller modern US denomination than silver eagle, i take it(?)
There are dealers on EBay including APMEX.
Pre 65 times, quarters and halves are fine to buy from private dealers.
SE and CM I buy from dealers.
Morgans and Peace dollars are where you have to be careful. You should be good if weight and size are on. I have some but the premium is so high. Better off with dimes, quarters and halves.
EBay guarantees their sales.
Hadn't heard SE were being faked.
I got some coins today, 3/27/2017
how did i do?
gold (s. african krugerrands)
spot $1254.80
1 oz. s.kr = $1286.12
$1286.12 @ 3 = $3858,36
silver (pre 1965 dimes)
90% $88.00 @ 13.54 XFACE
= $1192.52
total purchase, gold and silver = $5049.88
right now hiding in cubbyhole at home.
thinking if TSHTF, it will be very fast, no time to go to safe deposit box (?) so keep at least some in cubbyhole at home (not in gun safe where robbers can get via threatening hostage)
gun safe is mainly for ammo only
may do 2-5 more purchases, same or similar amounts
need: enough to get 3 people from SF bay to vancouver safely if and when TSHTF
estimated cost: $6000/person * 3 persons = $18000
surprisingly, a guy walked in the store while i was making my purchase, and got $30 for two peace dollars very quickly with no muss, no fuss, and apparently most importantly to the dealer, no paperwork.
i was initially coming up a few dollars short of the cash on hand that i needed to complete the purchase, and offered to use a debit card to bridge the gap. The response was that the shop did not use any plastic whatsoever. they also preferred not to give out any receipts. (this is a well known shop in the local community btw. i ended up there because of the size and type of my transaction being too large for several coin dealers that were closer to me.)
link to new thread
gold/silver investment/hedge thread #2
steveh | 3/28/2017 | steveh
Posted on 3/28/2017, 11:28:25 AM by SteveH
http://www.freerepublic.com/focus/f-chat/3538825/posts
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