Dismiss Notice

STYLE. COMMUNITY. GREAT CLOTHING.

Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.

Click Here to join Styleforum's thousands of style enthusiasts today!

Gold and silver. Discuss

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

  1. mkarim

    mkarim Senior member

    Messages:
    4,645
    Likes Received:
    32
    Joined:
    Sep 24, 2008
    Buffett said this in his 2009 shareholder letter. However, he also made a nice amount of money when he bought silver for $4 and change around 1997. He sold it sometime ago, however.

    Yes, he said gold does nothing but stay there and look pretty... [​IMG]
     


  2. javyn

    javyn Senior member

    Messages:
    16,749
    Likes Received:
    493
    Joined:
    Mar 15, 2006
    So, anyone else besides javyn in the freak out and stock up on bullion club? Just got ~130 oz silver and a few 1/4 oz gold krugerrands.

    The numismatic and metal exchanges here in h-town were all sold out of everything save one this weekend, so I got what they had.

    Plan on increasing this week to around 30k physical metal if I can find any exchange that's been restocked this week.
     


  3. javyn

    javyn Senior member

    Messages:
    16,749
    Likes Received:
    493
    Joined:
    Mar 15, 2006
    http://www.thenewamerican.com/index....s-legal-tender

    So it is, so it is.

    I need to find a 1k oz bar and soon
     


  4. Crane's

    Crane's Senior member

    Messages:
    6,237
    Likes Received:
    512
    Joined:
    Jun 4, 2008
    Location:
    Chasing tornadoes across the plains.
    So, anyone else besides javyn in the freak out and stock up on bullion club? Just got ~130 oz silver and a few 1/4 oz gold krugerrands. The numismatic and metal exchanges here in h-town were all sold out of everything save one this weekend, so I got what they had. Plan on increasing this week to around 30k physical metal if I can find any exchange that's been restocked this week.
    Kitco and Perth always have bars in stock. I'm negotiating a deal on 50 or so ounces of junk silver dollars on a private deal. After that I'm going to sit a bit and see if prices settle down. If it keeps running I'm inclined to dump 200 to 300 ounces and buy some gold.
     


  5. javyn

    javyn Senior member

    Messages:
    16,749
    Likes Received:
    493
    Joined:
    Mar 15, 2006
    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.
     


  6. otc

    otc Senior member

    Messages:
    14,975
    Likes Received:
    4,565
    Joined:
    Aug 15, 2008
    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?
     


  7. javyn

    javyn Senior member

    Messages:
    16,749
    Likes Received:
    493
    Joined:
    Mar 15, 2006
    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]
     


  8. Crane's

    Crane's Senior member

    Messages:
    6,237
    Likes Received:
    512
    Joined:
    Jun 4, 2008
    Location:
    Chasing tornadoes across the plains.
    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.
     


  9. javyn

    javyn Senior member

    Messages:
    16,749
    Likes Received:
    493
    Joined:
    Mar 15, 2006
    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.
     


  10. Crane's

    Crane's Senior member

    Messages:
    6,237
    Likes Received:
    512
    Joined:
    Jun 4, 2008
    Location:
    Chasing tornadoes across the plains.
    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?
     


  11. javyn

    javyn Senior member

    Messages:
    16,749
    Likes Received:
    493
    Joined:
    Mar 15, 2006
    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)
     


  12. Crane's

    Crane's Senior member

    Messages:
    6,237
    Likes Received:
    512
    Joined:
    Jun 4, 2008
    Location:
    Chasing tornadoes across the plains.
    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.
     


  13. mikeman

    mikeman Senior member

    Messages:
    701
    Likes Received:
    5
    Joined:
    Jun 4, 2008


  14. mikeman

    mikeman Senior member

    Messages:
    701
    Likes Received:
    5
    Joined:
    Jun 4, 2008
    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?
     


  15. javyn

    javyn Senior member

    Messages:
    16,749
    Likes Received:
    493
    Joined:
    Mar 15, 2006
    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.
     


Share This Page

Styleforum is proudly sponsored by