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Gold and silver. Discuss

Discussion in 'Business, Careers & Education' started by Valproate, Feb 20, 2011.

  1. otc

    otc Senior member

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    http://www.thenewamerican.com/index....s-legal-tender





    So it is, so it is.

    I need to find a 1k oz bar and soon


    I'm confused...isn't the commodity value of gold currently far higher than the currency valuation of the minted coins?
     
  2. javyn

    javyn Senior member

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    I'm confused...isn't the commodity value of gold currently far higher than the currency valuation of the minted coins?
    Yep. Of course, you get commodity value of the metal, not numismatic value of the coins themselves. So don't get rid of that rare coin from whatever certain year you spent so much on to complete the collection [​IMG]
     
  3. Crane's

    Crane's Senior member

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    Apmex has a ton of bars, but I'm looking for junk coins now like you. I'm not ordering online though, whatever I buy I want to buy cash with no paper trail. Bad enough the cop guarding the gold exchange marked my license plate number when I was leaving with what I bought Saturday. Going to be hitting up the exchanges for junk this week, and more bars if they have em. Keeping an eye out for 1/4 oz gold coins too, but will buy a 50 peso piece if I come across one because, they are just cool.
    Coins can be a pain. Most dealers put too much of a numismatic premium on them for my liking. Hit flea markets and antique shops. A lot of people are selling silver coins for spot at these places. Every now and again someone will have some gold coins at spot as well. Don't forget 1965 to 1970 Kennedy halves. They are about 40% silver by weight and if you do the math they are worth 5 bucks plus change each. If your bank can get rolls of halves it can be worth cherry picking 'em. Oh and a lot of old junk fountain pens have nibs that are made of 14K, 18K Gold or are Platinum. You need to know a bit about pens to really pull this off but you're looking at 20 bucks or more worth of metal for 2 or 3 bucks once you get good at it.
     
  4. javyn

    javyn Senior member

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    Thanks for the tips, very interesting re: pens.

    I live in the South, so even before I knew what I was doing, I pretty much had it ingrained in me not to pay too much over spot. We have people here who will seriously try to sell a coin for 50% over spot because it's some rare year/edition/whatever.

    The few coins the gold exchange here had left, they only charged me 2 dollars over spot, which I thought was fair, even for coins.

    The numismatic exchange here didn't even answer the phone when I was calling Saturday, so I figured it was crazy town over there and didn't even bother with them.

    I am going to try again this week. I'm hoping one of these places has a big bag of junk silver coins like Apmex has but are currently sold out of.
     
  5. Crane's

    Crane's Senior member

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    Thanks for the tips, very interesting re: pens. I live in the South, so even before I knew what I was doing, I pretty much had it ingrained in me not to pay too much over spot. We have people here who will seriously try to sell a coin for 50% over spot because it's some rare year/edition/whatever. The few coins the gold exchange here had left, they only charged me 2 dollars over spot, which I thought was fair, even for coins. The numismatic exchange here didn't even answer the phone when I was calling Saturday, so I figured it was crazy town over there and didn't even bother with them.
    Was that 2 bucks over spot for Silver Eagles?
     
  6. javyn

    javyn Senior member

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    Ehhhh....no. I guess I misspoke, they are more medallions than coins. Some franklin mint sterling medallions with different animals and mythological beasts from different countries from 1977 I think. I'll link when I get home.

    I guess they do have some numismatic value though, the ones I found online are going for 90 bucks each. A little over half an ounce of sterling. I paid ~28 for each (total 5)
     
  7. Crane's

    Crane's Senior member

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    Ehhhh....no. I guess I misspoke, they are more medallions than coins. Some franklin mint sterling medallions with different animals and mythological beasts from different countries from 1977 I think. I'll link when I get home. I guess they do have some numismatic value though, the ones I found online are going for 90 bucks each. A little over half an ounce of sterling. I paid ~28 for each (total 5)
    I got some oddball 1 ounce coins like that. One of these days I'll find someone with some Eagles at a decent price. Yeah right. LOL. Some of the bullion coins coming out of China are worth looking at as far as maintaining numismatic value is concerned. Same with some of the stuff coming out of Perth.
     
  8. mikeman

    mikeman Senior member

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  9. mikeman

    mikeman Senior member

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    Just picked up another 40 oz today, putting me over 100 ounces, feel like a super small timer. But I think i made a smart move on putting money into silver. I think we may see a small pullback, but i think we could easily see 50 within six months. Agree?
     
  10. javyn

    javyn Senior member

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    I agree, and am hoping for more pullbacks so I can load up more.

    Another small timer here don't feel bad.

    I think 50 is a definite, but that's just me, what do I know? I don't know about the people online who are going on about $1300/oz silver though heh....but if so hey, good for us.
     
  11. Crane's

    Crane's Senior member

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    Just picked up another 40 oz today, putting me over 100 ounces, feel like a super small timer. But I think i made a smart move on putting money into silver. I think we may see a small pullback, but i think we could easily see 50 within six months. Agree?
    I'm thinking 50 buck Silver by year's end.
     
  12. javyn

    javyn Senior member

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    What do you think about buying physical vs. ETFs like SLV? I'm thinking avoid the ETF and load up on physical metals...
     
  13. Crane's

    Crane's Senior member

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    What do you think about buying physical vs. ETFs like SLV? I'm thinking avoid the ETF and load up on physical metals...
    Javyn, I'm a firm believer in physical possession. If you want instant liquidity and don't want the headaches of physical possession get involved in a Kitco pool. It also makes it easier to bounce between metals. As I said before you can convert the holding to cash or you can take physical delivery whenever you want. I have significant holdings in a Kitco pool for the simple reason I can take advantage of spikes or flip into another metal instantly.
     
  14. mikeman

    mikeman Senior member

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    I agree, I would try to stay away from the ETFs and hold physical. Lots of people say " unless you can hold it, you don't own it" or something like that. I also think that holding the physical will yield higher returns for the simple fact that people are willing to pay premiums on coins. I think when silver hits highs of 70 or so the premium on a ASE could be 10+. I think its cool to have stacks of silver in a little safe too![​IMG]
     
  15. javyn

    javyn Senior member

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    I agree w/ you two but was kinda curious to hear from someone who didn't.
     
  16. mikeman

    mikeman Senior member

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    Well i guess the upside of having an ETF is that they are much more liquid than physical, and you also have the ability to trade them.
     
  17. Costanza

    Costanza Senior member

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    Google "metal zonation." I've been exploring for gold part time now for about three years. The company is going public this year and I'm going to cash out and focus on my main line of business from here to the tape.
     
  18. javyn

    javyn Senior member

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  19. Crane's

    Crane's Senior member

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    http://www.worthpoint.com/worthopedi...1977-116189532 Here is the set of medallions I got at the exchange....well I got 5 of them, not the whole set, for around 30 each. Thoughts?
    Melt on them is around $26.50. Are they still sealed in their holders or have they been removed?
     
  20. javyn

    javyn Senior member

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    Been removed. I have 5 of the 12.
     

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