Posted on 02/14/2014 6:43:09 PM PST by Kolath
Looking into buying silver and needed advice (do's and don'ts). Was thinking of both 1oz and fractional coins (1/2, 1/4 and 1/10 an oz).
Where can I buy (recommendations) and how can I properly store them?
Was looking to spend under 1k.
Do and don’ts. Do not buy numismatic coins whose price is based on historical and rarity. When SHTF the pawn broker will base price on silver content.
Good vendors I have used are; www.apmex.com; www.bulliondirect.com; www.providentmetals.com; www.monarchpreciousmetals.com.
My only luck in finding old coins is metal detecting. I have found about 10.00 total old siver in the past three years.
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Thanks for that I wasn’t sure. I go through my quarters every time I get them, I have a pretty good stash. I really enjoy doing it too, the quarters today look like slot machine money.
ten dollars face value is about $150 silver content...
Yep. Paid for the detecor.
even better to buy both.
1964 and under.
I always tell people, once you have all your other ducks in a row and all your other preps in place, THEN dive into silver and gold. I buy some here and there, have been doing it for years, I stash it away, and I buy locally from a local dealer. Its much easier that way, cash and carry, no credit cards no one knows I own anything.
Guy I know is from Kansas. His dad died a while back, but his mother is still alive.
When silver went out of circulation in 64, his dad started saving every silver coin he came across.
My friend will someday get his inheritance, which is a couple (3 or more) 5 gallon buckets full of quarters, dimes, and halves.
Probably 100K or more...
I had a great aunt who died in 2002. We found several coffee cans filled with change. I took me hours to sort through the coins. I probably only got about 5 dollars worth of old dimes and quarters.
I think you should buy it if you believe in its value relative to Janet Bucks and if you’ve always been fond of roller coasters.
I bought the bulk of mine from APMEX. Best service and while you can occasionally find it cheaper, it probably isn’t worth the effort.
Although it has been a while, the last purchase of PMs I made, gold was ~ $700 and silver ~ $7.00, so things may have changed since then.
Why do people buy coins? Wouldn’t ingots make more sense?
Ingots are cheaper per ounce, but coins are more disposable.
And in a SHTF situation, it is going to be hard to find change for a hundred ounce ingot when you are trading for a loaf of bread.
My favorite is BGASC.com, http://www.bgasc.com . Great prices, ships fast, and has massive silver coin, bar, and junk silver choices.
Because the Chinese are faking bullion like 1 ounce bars while pre-64 silver US coins are not faked (except rare ones like proofs). So if you have a mercury dime you can easily determine its value, with a bullion coin or bar you really need to get an assay to be sure.
Don’t
Ive been a gold/silver bug since 1970 have had interests in a few mines. Lost more paper money when the Hunt brothers tried to corner the market back in 1980 than I have made since.
The folks peddling precious metals are simply taking advantage of conservatives.
Think about it, if the world goes to hell who will buy or more likely even trade your piece of silver for wheat or a loaf of bread. No one.
Invest in food, land and lead.
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