[ARCHIVED THREAD] - Smitten with Silver (Page 1 of 3)
Posted: 3/9/2012 2:13:53 AM EDT
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A family friend has inspired me to buy silver, just in case our paper, base metal currency goes down the tubes.
So I've gotten into buying silver coins. As I look at what is out there, consider what to buy, it is, for me, a point about cost and beauty. But here's an additional consideration. If I buy the older coins, which to me are more beautiful anyhow, like, say, a 
Standing Liberty quarter.............................................. ............................it might be one further to stopping some idiot from grabbing it and using it to get a snack. I mean, picture it. Said idiot is thinking hungry, hungry, hungry, rumages through my stuff, finds a roll of Washington silver quarters 
and in joy and happiness, skips off to the snack machine. Oh, the thought of what I would do to such a person, why, even the thought of throwing them THROUGH a window of a tall building doesn't seem to satisfy in the slightest that perceived anger. Worse, if such did happen, it would probably be an idiot relative. Of course, the answer is to have such things in the vault, which should be done, but still, one more step, a more beautiful coin to tell the holder this isn't like the quarter you buy Pepsi with............................... .............................does not seem entirely out of line. _______________________________________________________________________________________ ("Was it expensive?"––Marshall O'Neil after having destroyed a drug shipment "More expensive than you know."––Sheppard, (w,stte), "Outland") |
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Coins are overpriced. You would be better buying 1/2oz and 1oz bars for trading.... There are a fair number of 90% silver proof sets from the last few years going for at or below spot recently... doesn't make a whole lot of sense, but it is what it is. Further, there is the whole numismatic collector thing... |
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Coins are overpriced. You would be better buying 1/2oz and 1oz bars for trading.... Coins have metal value as well as numismatic value. Your statement implies no knowledge of the subject. Plus, there is another consideration as well. Conceptually, one can counterfeit a bar.....it is a HECK of a lot harder to say nothing of risky to counterfeit a coin. Further, bars are not that artistic. ___________________________________________________________________________________ (".....slips of gold pressed latium......,"––a Ferengi, (w,stte), "DS 9") |
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Coins are overpriced. You would be better buying 1/2oz and 1oz bars for trading.... Coins have metal value as well as numismatic value. Your statement implies no knowledge of the subject. And don't forget, selling fake coins is considered counterfeiting. A felony. Selling fake bullion doesn't carry the hefty prison time with it ( up to a certain value I'm sure). And people recognize silver currency, not so with a shiny silver bar or round that may or may not be real. ETA- OP beat me. |
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Quoted: Quoted: Quoted: Coins are overpriced. You would be better buying 1/2oz and 1oz bars for trading.... Coins have metal value as well as numismatic value. Your statement implies no knowledge of the subject. Plus, there is another consideration as well. Conceptually, one can counterfeit a bar.....it is a HECK of a lot harder to say nothing of risky to counterfeit a coin. Further, bars are not that artistic. ___________________________________________________________________________________ (".....slips of gold pressed latium......,"––a Ferengi, (w,stte), "DS 9") The Chinese are cranking out the coins these days.  At least one arfcommer has gotten bit on ebay buying silver eagles, I think it was. It would be harder to fake Liberties, Walkers, and so on... but it's not unheard of.  But I agree, there is nothing special about bars or rounds. Plus they can simply keep on making those. They aren't making any more Liberties. |
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Coins are overpriced. You would be better buying 1/2oz and 1oz bars for trading.... Coins have metal value as well as numismatic value. Your statement implies no knowledge of the subject. Plus, there is another consideration as well. Conceptually, one can counterfeit a bar.....it is a HECK of a lot harder to say nothing of risky to counterfeit a coin. Further, bars are not that artistic. The Chinese are cranking out the coins these days.
At least one arfcommer has gotten bit on ebay buying silver eagles, I think it was. It would be harder to fake Liberties, Walkers, and so on... but it's not unheard of.
But I agree, there is nothing special about bars or rounds. Plus they can simply keep on making those. They aren't making any more Liberties. About two weeks ago, when the topic was gold, someone recommended a site and so far, I'm pretty happy with them. My interest tonight as been quarters and I couldn't find them on the prefer site at first, so I put the question out on the NET.......people out there are trying to sell them at a higher price, a decently higher price. For me, it is a balance between having something that's pretty with something that has an investment to it. For the past few years, I've been doing that with buying silver jewelry. The problem is, though, that if push comes to shove, it will be tougher giving up a talisman that I wear around my neck as oppose to a coin. Quoted:
Why buy coins you get pre 65's all the time as change when shopping. Where are you shopping? I haven't seen a pre 65 "naturally" in decades! ______________________________________________________________________________ ("Knife in the panty drawer. My kinda girl."––Kaia shape shifted into Phoebe, (w,stte), Charmed, "The Importance of being Phoebe") |
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Quoted: Why buy coins you get pre 65's all the time as change when shopping. Even people who actively hunt these will say that it's vanishingly rare to find one in the wild in the year 2012. Half-dollars are still out there, but quarters, dimes, and war-nickels are all dried up. |
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Quoted: About two weeks ago, when the topic was gold, someone recommended a site and so far, I'm pretty happy with them. My interest tonight as been quarters and I couldn't find them on the prefer site at first, so I put the question out on the NET.......people out there are trying to sell them at a higher price, a decently higher price. For me, it is a balance between having something that's pretty with something that has an investment to it. For the past few years, I've been doing that with buying silver jewelry. The problem is, though, that if push comes to shove, it will be tougher giving up a talisman that I wear around my neck as oppose to a coin. ______________________________________________________________________________ ("Knife in the panty drawer. My kinda girl."––Kaia shape shifted into Phoebe, (w,stte), Charmed, "The Importance of being Phoebe") Jewelery IS overpriced, because unlike the numismatic premium, people don't want to pay the jewelery premium. They won't. It's melt value only. However, if you're a smart shopper, can guesstimate or weigh the piece and get an idea of actual melt value, you can make out with some stuff, especially estate/flea market finds. As for silver quarters, Mercury dimes, and things of that nature... I'd suggest seeking out your local coin dealer. Also seek out your local coin shows. Find the old timers who likely haven't repriced their books in some time. Look in their "dollar bins" for interesting patinas. There are tons of interesting coins out there... but you can't really dive into this via the internet, you need boots on the ground. Coin dealers will haggle, so develop and maintain rapport with them, it pays. |
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Why buy coins you get pre 65's all the time as change when shopping. Even people who actively hunt these will say that it's vanishingly rare to find one in the wild in the year 2012. Half-dollars are still out there, but quarters, dimes, and war-nickels are all dried up. Active hunter here and what you're saying is truth. These days you're lucky to find one pre-65 dime or quarter in $500-$600 worth of silver change. |
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I greatly appreciate numismatic art, but you think of some strange things. Especially since the thief will not even look at the coin before dropping it in a machine to get a soda. Like the thief who stole some friends coin collection (when he was house-sitting for them) and spent it all in an arcade. $10,000 in silver coins . . . in 1982. |
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Why are you letting idiots rumage through your stuff? I'm not.......I just have this paranoid fear of something like that happening. Jewelery IS overpriced, because unlike the numismatic premium, people don't want to pay the jewelery premium. They won't. It's melt value only. However, if you're a smart shopper, can guesstimate or weigh the piece and get an idea of actual melt value, you can make out with some stuff, especially estate/flea market finds. As for silver quarters, Mercury dimes, and things of that nature... I'd suggest seeking out your local coin dealer. Also seek out your local coin shows. Find the old timers who likely haven't repriced their books in some time. Look in their "dollar bins" for interesting patinas. There are tons of interesting coins out there... but you can't really dive into this via the internet, you need boots on the ground. Coin dealers will haggle, so develop and maintain rapport with them, it pays. "Dealers" have already been added to the foraging list. Last week as I was out and about, saw a merchant selling knives and things and it looked like his sign said coins as well. I stopped but, alas, that was the older part of the sign since he stopped selling coins....they disappeared too often, he said. The way I figure it is that I will make a "major stake" in this and then put it on the trickle, active foraging, target of oppurtunity list. Standing orders to investigate any sightings if possible, that kind of thing. ___________________________________________________________________________ ("..........that I have standing orders to investigate all quasars and quasar-like phenomena wherever they may be encountered."––Kirk to the high commissioner, (w,stte), ST:TOS "The Galileo Seven") |
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Quoted: "Dealers" have already been added to the foraging list. Last week as I was out and about, saw a merchant selling knives and things and it looked like his sign said coins as well. I stopped but, alas, that was the older part of the sign since he stopped selling coins....they disappeared too often, he said. The way I figure it is that I will make a "major stake" in this and then put it on the trickle, active foraging, target of oppurtunity list. Standing orders to investigate any sightings if possible, that kind of thing. ___________________________________________________________________________ ("..........that I have standing orders to investigate all quasars and quasar-like phenomena wherever they may be encountered."––Kirk to the high commissioner, (w,stte), ST:TOS "The Galileo Seven") Make it a priority to attend a coin show. Your mind will be blown. |
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Quoted: Quoted: Why buy coins you get pre 65's all the time as change when shopping. I've checked every coin I've gotten in the past 6-7 years and all I've found is a handful of neat, older nichols. No silver. Posted Via AR15.Com Mobile I've found a bit, but I've been at it for 15-20yrs. I haven't found much though, and what I've found graded poorly. It's no way to go about collecting, that's for sure. I used to even hit up banks for rolls, that was pretty much a big waste of time. eta: You'd probably be better off with a metal detector. |
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Quoted: Why buy coins you get pre 65's all the time as change when shopping. Really? Not in these parts, I haven't seen a pre-65 silver coin in change for years. My brother in PA recently saw one in a coffee fund jar at his work. He swapped it out. It was like striking gold. |
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So what is the quarter you posted worth today? Depends on who is selling. US coins, by the by, are about 90% silver. On the standing Liberty, price I'm seeing that's good to me is $7.31. I've come across one site selling the Washingtons for about $6.96.....catch is, you have to buy $100, face value (400 coins), of them. I'm basing my sway on who I buy from the the cost of silver, shipping, how long it takes them to get it to me, and how the smaller prices compare to the silver dollars I've already bought. Those who say, "8 to 10 weeks for delivery" can take a hike! _______________________________________________________________________________________________________ ("Did he get his quarter back?"––brat kid teasing the football player that the latter bought him the spot on the team, (w,stte), some Stephen King book) |
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I got rid of most of my 1oz silver coins and went pretty much all bullion. I kept one or two of each, an eagle, a couple pandas, a maple etc. I do have a bunch of junk silver though that I keep in case I ever need something to barter with. I do have a few numismatic coins as well. I sent my first coin off for grading and it should be back soon, an 1881 5 dollar gold eagle. If it gets a decent grade it's going up for sale and I'm buying silver bullion with the cash.
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I got rid of most of my 1oz silver coins and went pretty much all bullion. I kept one or two of each, an eagle, a couple pandas, a maple etc. I do have a bunch of junk silver though that I keep in case I ever need something to barter with. I do have a few numismatic coins as well. I sent my first coin off for grading and it should be back soon, an 1881 5 dollar gold eagle. If it gets a decent grade it's going up for sale and I'm buying silver bullion with the cash. What do you find the advantages...............and disadvantages over precious coins? Or are we talking bullion coins? ________________________________________________________________________________________ ("I've come to exchange more currency."––time traveling Jack the Ripper with gold sovereigns, (w,stte), "Time After Time") |
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Quoted: What do you find the advantages...............and disadvantages over precious coins? Or are we talking bullion coins? ________________________________________________________________________________________ ("I've come to exchange more currency."––time traveling Jack the Ripper with gold sovereigns, (w,stte), "Time After Time") I'm obviously not him, but for bullion, it's straight value. There is no arguing over which price guide to go by and what grade it is. Easiest way that I could sum it up is you have two camps, collectors and investors. Collectors tend to value condition and rarity, where investors are mainly concerned with spot prices. Some people tend to be both. For me, I can't ignore the beauty of old coins, but I like shiny new things too. |
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What do you find the advantages...............and disadvantages over precious coins? Or are we talking bullion coins? I'm obviously not him, but for bullion, it's straight value. There is no arguing over which price guide to go by and what grade it is. Easiest way that I could sum it up is you have two camps, collectors and investors. Collectors tend to value condition and rarity, where investors are mainly concerned with spot prices. Some people tend to be both. For me, I can't ignore the beauty of old coins, but I like shiny new things too. Me, I'm probably closer, if anything, to being an Episcopalian Jew......if I have to bug out, I'm going to do it with some precious metals I can carry. Silver, copper, brass, and lead. The thing the family friend advised against was with gold because that was just too big to try to barter with. Further, as the family taught me, it so not to shift on investments as the winds blow. But......when it comes to lean, it is more about investing than it is about collecting. I was looking at, earlier, some Columbian Exposition Coins earlier. To me, they are not a 
very beautiful coin. So why go for them? Because their cost, on the considerations I listed earlier, were appealing silver wise. Other considerations, however, decided the deal. _________________________________________________________________________________ ("I am afraid sir damn well does understand... and sir, I'd like the set of clothes by three o' clock."––Ramirez offering up his huge pearl earring as payment for services, (w,stte), "Highlander II") |
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Junk coins are great if you can buy them for less than spot. Place an ad on Craigslist stating your buy price (20X face value, or some such). You may get lucky and shake some coins out of people's cookie jars. Be prepared to step up and buy, though. I did that last summer and ended up buying more than $150 face value.
Otherwise, I'd recommend American Silver Eagles. They're really nice coins and people will pay a premium for them. I'd say you have a better chance recovering your premiums on those than most other coins. Cheapest commercially sold silver is probably generic rounds or bars but they'll be slightly less attractive than ASE's when it comes time to sell. You'll probably never get more than spot for them. Online sellers only charge couple of bucks over spot on ASEs but the shipping will eat you up unless you buy enough to spread the cost over a bunch of coins. If all you can afford to do is buy a few dollars worth each paycheck, I'd try to develop a relationship with a local coin shop or pawnshop. Pop in every payday for your dime, half dollar, Silver Eagle, or whatever your budget allows and stack, stack, stack. Keep an eye on the price and when you see a big dip, think about doubling down. |
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Coins are overpriced. You would be better buying 1/2oz and 1oz bars for trading.... Coins have metal value as well as numismatic value. Your statement implies no knowledge of the subject. Plus, there is another consideration as well. Conceptually, one can counterfeit a bar.....it is a HECK of a lot harder to say nothing of risky to counterfeit a coin. Further, bars are not that artistic. ___________________________________________________________________________________ (".....slips of gold pressed latium......,"––a Ferengi, (w,stte), "DS 9") There's a lot of truth in what you say. Coins were/are "coined" specifically because they are easily recognizable and are difficult to counterfeit. Then there are the legal issues in counterfeiting. And it would be relatively easy for people without knowledge to start using silver dollars for trade due to their inherent value and ease of recognition. Also, a silver dollar also has a street value that is in a useful range. Say you need to trade for groceries - if a coin is known to be worth about forty bucks - that's roughly what a 50 lb sack of rice goes for, etc.. I would feel comfortable trading with silver dollars that I never would using bullion. |
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Quoted: Why buy coins you get pre 65's all the time as change when shopping. Back when I had a retail job and was counting out the cash drawer and found an 1898 quarter (sadly almost no detail left on either side), how many milliseconds do you think it for me to do the store a favor and replace it with a newer model quarter? |
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Why buy coins you get pre 65's all the time as change when shopping. Back when I had a retail job and was counting out the cash drawer and found an 1898 quarter (sadly almost no detail left on either side), how many milliseconds do you think it for me to do the store a favor and replace it with a newer model quarter?
Barber? ________________________________________________________________ (Who do all men take their hat off for? Their barber....., (w,stte), old joke) |
| I'm a silver fan as well, I just wish I would have bought more a few years ago when it was stil $17 an ounce or had been into it several years prior at $6 an ounce. Anyway, I prefer the coins to large bars. As stated above, it makes for a better method for trading for things you need if necessary. I remember listening to Neal Boortz a few years ago and he spoke of filling up his gas tank at a mom and pop gas station and handed the attendant a silver dollar and was gtg. |
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Quoted: Quoted: Quoted: Why buy coins you get pre 65's all the time as change when shopping. Back when I had a retail job and was counting out the cash drawer and found an 1898 quarter (sadly almost no detail left on either side), how many milliseconds do you think it for me to do the store a favor and replace it with a newer model quarter? Barber? ________________________________________________________________ (Who do all men take their hat off for? Their barber....., (w,stte), old joke) Just checked again-it's actually an 1899-this is a pretty close to the condition of the tail side:  |
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Why buy coins you get pre 65's all the time as change when shopping. Back when I had a retail job and was counting out the cash drawer and found an 1898 quarter (sadly almost no detail left on either side), how many milliseconds do you think it for me to do the store a favor and replace it with a newer model quarter?
Barber? ________________________________________________________________ Just checked again-it's actually an 1899-this is a pretty close to the condition of the tail side: http://www.coincommunity.com/forum/uploaded/Jaobler/2010719_1899SQuarterGood4Rev.jpg Looks like a Barber to me. Just a little bit of luck, but having been in this stuff for two weeks, I know when some coins were in circulation. ________________________________________________________________________________________________ ("Just luck.....,"––Jennifer as the Ghost of Christmas Past after Carlson asks her about the teleportation skills, (w,stte), "WKRP") |
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Buying "collectible" pre-64 silver, or pre-33 gold for SHTF purposes is pure stupidity.
At some point, the gold value becomes MORE valuable than than "todays collectible price", and the owners of the collectible coins will NEVER get the collectible value back out of it. If you think "coin collecting" will still be a hobby when the world takes a shit, you just go ahead and buy the expensive stuff now. Buy junk. Trust me. |
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A family friend has inspired me to buy silver, just in case our paper, base metal currency goes down the tubes. So I've gotten into buying silver coins. Check out this video series, it might be relevant to your interests. youtube video |
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Quoted: Buying "collectible" pre-64 silver, or pre-33 gold for SHTF purposes is pure stupidity. At some point, the gold value becomes MORE valuable than than "todays collectible price", and the owners of the collectible coins will NEVER get the collectible value back out of it. If you think "coin collecting" will still be a hobby when the world takes a shit, you just go ahead and buy the expensive stuff now. Buy junk. Trust me. So I should trust you that the world is going to take a shit huh? Are you a wizard? Nostradamus? Regardless of SHTF, collectible coins don't lose their PM value. |
I keep a mix of bars, junk and ASE's.|
Quoted: Quoted: I got rid of most of my 1oz silver coins and went pretty much all bullion. I kept one or two of each, an eagle, a couple pandas, a maple etc. I do have a bunch of junk silver though that I keep in case I ever need something to barter with. I do have a few numismatic coins as well. I sent my first coin off for grading and it should be back soon, an 1881 5 dollar gold eagle. If it gets a decent grade it's going up for sale and I'm buying silver bullion with the cash. What do you find the advantages...............and disadvantages over precious coins? Or are we talking bullion coins? ________________________________________________________________________________________ ("I've come to exchange more currency."––time traveling Jack the Ripper with gold sovereigns, (w,stte), "Time After Time") I don't like the premiums over bullion and I started to fancy myself as "collecting" and purchased a few numismatic coins. That can get expensive fast and if you don't know what you're doing, really expensive. I kept one or two of each and the good numismatic stuff that I think will turn a profit. Traded it for bullion and that's where I am now.
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