View Full Version : Collecting Silver
This may be old news to some of you, I just started doing it. Any quarter or half dollar that was produced before 1965 is 90% silver. So if you go to your bank and get as many rolls as you can afford you can start your hunt. Look though them all and just return the other ones right back to the bank. No money loss. So you can make money at no risk of losing any. I am not saying your going to get rich because you probably will only find one here and there but its a free hobby to make you a little money. I know that a 90% silver quarter on today's market goes for 5 dollars. You can also do this with nickels just wasn't sure on the dates you have to look for.
PA PATRIOT
12-17-11, 09:42
My father stated his collection in 1965 and has thousands of quarter and half's sitting in a safe. I told him now was the time to convert the silver to cash and use the money for what ever he needed. But he told me I could do what I wanted with them after he passes and ended the conversation.
I do see silver coins once or twice a year but most bank tellers pull the silver coins out of their draws as they come in then swaps a normal coin in its place. This is how my father got his coins from 1965 to 1980 as my mom worked in a large bank and all the girls pulled the silver coins for her.
It's kinda rare nowadays finding coins containing silver. As mentioned, the banks usually pull those coins but they can still slip through.
I gave a presentation in college telling everyone to buy silver as a way to save money and possibly make a profit.
Silver was $16 then (probably not even two years ago), now it's around $30 I believe - haven't checked lately.
It's at $29.xx, down from $40 only about 6-8 weeks ago.
I look through every single coin that passes my fingers for the past 6 weeks now, since I started buying silver...I've found only two pre-65 quarters. Oddly I've found quite a few 1965 quarters, unfortunately they're useless.
Another interesting thing, pre-1984 pennies are copper, and apparently with $0.023 each in copper. Might be kinda silly but Ive started putting pre-84 pennies aside as well...
I pretty much stash all my change, mainly because I'm too lazy to roll it up and cash it in I guess.
In a disaster or armageddon scenario I don't think money means a lot though.
The beauty of Silver is that history has shown that when fiat currency becomes hyperinflated, Gold goes up, but Silver can go up to 1/16 the price of Gold. Right now it's 1/53 the price of Gold; Silver will only go up.
The current sell off of Gold was all "paper Gold" to increase the liquidity of banks; physical Gold did not change hands. Now is a good time to buy Gold and Silver.
The beauty of Silver is that history has shown that when fiat currency becomes hyperinflated, Gold goes up, but Silver can go up to 1/16 the price of Gold. Right now it's 1/53 the price of Gold; Silver will only go up.
The current sell off of Gold was all "paper Gold" to increase the liquidity of banks; physical Gold did not change hands. Now is a good time to buy Gold and Silver.
^^^This^^^
I have been collecting silver for a couple years now. It is a great way to invest. There is less silver in the earths crust right now than there is gold. also silver is the most reflective most conductive metal known to man. because of this they use around 90% of the silver mined for industrial uses. using it up and throwing it away. that means only 10% of the silver mined is going into jewelry and investments. gold is the exact opposite, they only use about 10% for industrial uses. I believe that in 20 years or so, there will be a demand for silver and that it will skyrocket above gold in value. I believe this will be know as the greatest wealth transfer in the history of mankind. If you are interested in more info on this, read "the guide to investing in gold and silver" by mike maloney. He is "rich dad, poor dad's" precious metal advisor. I also believe that youwant to collect and invest in 999 fine silver. In the 80's when the hunt brothers were trying to corner the market and buy all the silver, it got to just over $50 an oz. At this time refinerys where overloaded with 90% silver coins and the refining rates skyrocketed. there fore if you have 999 fine silver you will not be succkered into paying those expensive refining costs, or be penalized for not having pure silver b/c of refining costs. Just my 2 cents, take what you will from it.
I realized that when it comes to buying physical metal, most people are hesitant because they don't know how. Then when asked why they don't buy any, they spout off some silly shit they heard on Fox/CNN/WSJ. Most of the mainstream financial news outlets have a disgusting stock bias.
Also, many metal brokers will tell you that your purchases must be in the thousands of dollars. Not true.
This is my favorite site for small purchases:
http://www.gainesvillecoins.com/
Buying metal here is easier than buying ammo online. This site is also nice because it updates the prices of metals every 5 seconds when trading is open.
It's SO F$CKEN EASY there is no reason not to buy a few coins here and there.
My new favorite site for alternative financial info is www.zerohedge.com , it may be the "ultra-right wing" of financial news, but it's another angle you wont read about anywhere else.
I did coin roll hunted at one point, not much luck at all. I could go get $100-$200 in quarters at a time (usually once a week). I went to various banks. I found it easier with todays prices to buy silver eagles at $3 over melt from my local dealer. My grandmother started buying me silver eagles when I was younger and I have just continued the collection.
I realized that when it comes to buying physical metal, most people are hesitant because they don't know how. Then when asked why they don't buy any, they spout off some silly shit they heard on Fox/CNN/WSJ. Most of the mainstream financial news outlets have a disgusting stock bias.
Also, many metal brokers will tell you that your purchases must be in the thousands of dollars. Not true.
This is my favorite site for small purchases:
http://www.gainesvillecoins.com/
Buying metal here is easier than buying ammo online. This site is also nice because it updates the prices of metals every 5 seconds when trading is open.
It's SO F$CKEN EASY there is no reason not to buy a few coins here and there.
x2 on this, I used to think it was something only big business people could do...I found APMEX.com and realized its just as easy as ordering ANYTHING online.
That site you posted, gainesvillecoins.com has some great prices! A little below APMEX. How are they with shipping?
The good thing about APMEX is every few weeks they'll do a "24-hour special", and sell a 1 oz of silver something (either coin, bar, etc) for like $0.99 over spot! I try to pick up 10-20 ounces of whatever it is when they do those sales. They had American Eagles for $0.99 over spot the past week or so, the sale just ended...but thats a great way to make an order.
I'd like to just find a local dealer though to get around paying shipping costs...
Local dealers are often, but not always, horrible places to buy coins and precious metals.
Kitco is an excellent co. to buy from.
I have no issues with commodities, but it is much easier to lose your ass than with stocks. If you are going to invest in commodities(which I do) then you need to become informed and do shit tons of research. Hot Commodities by Jim Rogers is a good place to start.
If you invest in commodities, it should be ONLY with money you can afford to literally flush down the toilet.
Now that I have issued a warning, let me say commodities are good investments for those that do their due diligence.
Think theres any value in copper? APMEX doesnt sell it that Ive seen, but some of these other sites sell 1oz-100oz bars of copper...
I wonder if 10 years from now copper will be at $30/oz and we'll all be saying "ah remember back when it was $1/oz?! Shoulda bought tons..."
I wonder if 10 years from now copper will be at $30/oz and we'll all be saying "ah remember back when it was $1/oz?! Shoulda bought tons..."
This IS what people 10 years ago were saying about silver...
Isn't copper at $4/lbs right now. Which is roughly .25 cents per ounce. Buying copper would be a good investment IF you would collect copper (95%) pennies. Its a pain to look though every roll.
What is the difference between buying coins vs. bars?
It is illegal to melt pennies for the copper.
It is illegal to melt pennies for the copper.
Yeah that's one issue with coins. People aren't penny hoarding just because they think its cool. One day someone will attempt to melt coinage and sell the scrap. As of right now only our government is legally obligated to do so. This won't change.
That site you posted, gainesvillecoins.com has some great prices! A little below APMEX. How are they with shipping?
The longest it took to ship an order was 12 days. Average shipping cost has been about $12-15 for insured USPS Priority. Also, they have been shipping goods with labels like "Joe's Plumbing Supplies, PO Box...." Even the mailman wont know what you are getting.
Lately shipping seems to take place within 5 days of an order. They work hard to verify that someone isn't ordering metals in your name so for new customers they will actually call you on the phone and verify the order before they allow your order to ship.
What is the difference between buying coins vs. bars?
Bars are usually made by private mints and as such have lower cost over spot price. Coins are also made by private mints at a lower cost to you. The problem with generic bullion made by private mints is that they don't have any future collectable value and are not backed by any government.
Coins minted by governments are slightly more expensive because they have a government backing the coin's purity and actual currency value. They will also appreciate in collectable value (when kept in good condition).
Zach, go to www.kitco.com or other gold/silver sites and read their FAQ sections. Almost all the websites say the exact same thing.
I would suggest to new buyers with low incomes to spare $35 (right now) and buy an American Silver Eagle every week. That will give you 4 coins a month.
If the SHTF I don't think people are going to worry about who made the silver coin as long as it was silver. I don't know about you but I don't plan on caring a coin book of value if it did happen. I would rather have bullets or my own silver coins instead.
Just another idea about saving silver for everyone. I know its not a government coin but kinda fitting that a guns shop has a gun coin though. I might take this over a walking liberty made of the same amount of silver.
http://www.budsgunshop.com/catalog/product_info.php/cPath/869/products_id/411545843
If the SHTF I don't think people are going to worry about who made the silver coin as long as it was silver. I don't know about you but I don't plan on caring a coin book of value if it did happen. I would rather have bullets or my own silver coins instead.
Just another idea about saving silver for everyone. I know its not a government coin but kinda fitting that a guns shop has a gun coin though. I might take this over a walking liberty made of the same amount of silver.
http://www.budsgunshop.com/catalog/product_info.php/cPath/869/products_id/411545843
You're right about the mint/coin value/picture not mattering...1 oz of silver is 1 oz of silver. As far as Im concerned it doesnt matter if it's a simply marked bar, or a fancy $1 American Silver Eagle.
That said, that 1/2 oz round from Buds is a terrible deal. $23 for 1/2 oz? I just picked up a few dozen 1/2 Buffalo rounds from Provident Metals for $16/each...it'd be dumb to pay the premium for that 1/2 oz gun silver...
If the SHTF I don't think people are going to worry about who made the silver coin as long as it was silver. I don't know about you but I don't plan on caring a coin book of value if it did happen. I would rather have bullets or my own silver coins instead.
Just another idea about saving silver for everyone. I know its not a government coin but kinda fitting that a guns shop has a gun coin though. I might take this over a walking liberty made of the same amount of silver.
http://www.budsgunshop.com/catalog/product_info.php/cPath/869/products_id/411545843
One, the point of owning physical metal has abso-****in-lutely nothing to do with SHTF.
Owning metal is a hedge against inflation to protect SOME of your hard earned money from the effects of our Fed's QE projects.
Second, this coin you posted a link to is a complete ripoff. At that price you are paying $46.94 per oz. Have you looked at silver prices lately? It's ~$29.50 as I post this. Why would you pay extra just because a gun store is selling it with a gun on it?
Also, there is no mention of an Assayer's Certificate with this coin (Nothing to guarantee it's purity, and not government backed).
People, one of the main reasons you buy a government minted coin is because the government itself backs the purity. Also, obscure private minted coins are easier to fake and can be hard to identify.
Buying private mint metals is a gamble. If you do make sure it comes with an Assayer's Cert. If you buy private mint metal; buy larger bars, not coins. If you buy coins, get government mint coins.
In the end, if you want to piss money away on novelty shit, don't let facts get in the way of melting that credit card.
You're right about the mint/coin value/picture not mattering...1 oz of silver is 1 oz of silver. As far as Im concerned it doesnt matter if it's a simply marked bar, or a fancy $1 American Silver Eagle.
You guys seem to be assuming that S will HTF.
Most private mint coins do no appreciate in collector value. They just stay at the price of sliver. So if S doesn't HTF, your metal will be a weaker investment than it could have been. Spending that extra couple dollars on a gub-ment coin WILL increase it's earning potential over time if S doesn't HTF.
If S does HTF, some metal-savvy people may not trade for private mint coins. I know I wouldn't and I would never try to pay someone for goods and services that way. It's a gamble I wont take.
ForTehNguyen
12-18-11, 07:57
youre not gonna be able to find silver coins in bank rolls anymore, youd be better off to get bags of pennies and use a sorting machine to get the pre 1982 95% copper ones. Any year nickel is worth more in melt now, those are easy to get
useful websites:
www.coinflation.com
www.apmex.com
You're right about the mint/coin value/picture not mattering...1 oz of silver is 1 oz of silver. As far as Im concerned it doesnt matter if it's a simply marked bar, or a fancy $1 American Silver Eagle.
That said, that 1/2 oz round from Buds is a terrible deal. $23 for 1/2 oz? I just picked up a few dozen 1/2 Buffalo rounds from Provident Metals for $16/each...it'd be dumb to pay the premium for that 1/2 oz gun silver...
I just put that out there for those who like the 2nd Amendment as I do. The bonus was its a silver coin. Worth the 29 bucks including shipping to my house not really. So not really worth owning in my opinion just was posting it is all. A kool looking novelty item is all it was.
DaveL ,
One thing we all have to remember is if the SHTF or it didn't some things are worth there money and some aren't. I do know that this coin is a Novelty item but still kinda kool for that I do give them props for being the only ones to go this route using this idea.
Powered by vBulletin® Version 4.2.5 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.