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There is a thread in the Retirement section wondering if and where to buy silver coins.
I DO have both silver and gold coins and bars in my possession ( well locked up but I own them).
So do you have silver and/or gold coins? Bars?
I never spent money on silver COINS hoping for them to increase in value, coins sell for a premium price considerably higher than the silver, the best way to buy silver is buillion, 10 oz bars are very popular and you aren't paying extra for "art", the silver 10 oz bars often included a sort of generic art or logo, the "Wall st mint" put out these bars of .999 silver and I was able to buy a bunch of them a few years ago for a few dolalrs about the cost of silver.
Later, after they stopped making these bars that depict the WTC towers before 9/11, they have become collectors' items for that reason, so now they are worth considerably more than just the silver but that was a fluke.
I paid about $100 each for the Wall Street Mint bars, now they sell for over double that...
I would buy plain silver bars, Englehard and others are trustworthy, stay off buying silver anything on Ebay- LOTS of fake silver bars and coins now up there for sale.
You can look at major sellers for Englehard like this
ENGELHARD 100 Ounce bars are 79 cents over spot per ounce
Quote:
Each of these Engelhard Bars contains 100 Troy Ounces of 99.9% Pure Silver & bears a unique serial number! Bars ship in original plastic when available. Limited to Quantities on Hand.
Engelhard silver bullion products, due to their long history of desirability in the marketplace, have achieved a level of recognition among investors that is second to none.
I prefer silver over expensive gold, you can buy a LOT of silver pretty reasonably, and each dollar the silver goes up per ounce is what you would see, if you had 1,000 ounces it increased $1,000 for a dollar increase in value, the chances of gold going up like that is a lot slimmer.
I bought a 1000 troy oz silver bar in 1980 after the Hunt brothers missed a margin call. I was expecting a rebound that never occurred. The bar was sitting around the house for years and was even used as a door stop for the outside gate. Sold it years later and came out about even. Never again.
Well, I should disclose I didn't acquire them specifically for gain, more as a hobby, but it certainly can't hurt should tshtf, or I would assume for melt down value.
I get something every Christmas and birthdays. Then, like now it's 59 cents over spot for silver, I'll buy.
Had a figurative 'ton' of silver in various forms, mostly coins, collected in a casual manner over many years.
IIRC it was about $5000 worth ...spot value stuff only....very heavy.
Sold it and the safe it was in when I moved just because it was the husbands 'thing' and due to the weight and room it took up.
I don't get it. The stuff doesn't pay dividends or interest, it's not going to invent a new product and grow, it doesn't generate revenue, it just sits there. I'd imagine you'd want to insure it since someone could always steal it while it's sitting there too. You'd want to buy a safe to put it in, a real safe like jewelers and other businesses have. The Feds also tax it as a collectible.
I don't get it. The stuff doesn't pay dividends or interest, it's not going to invent a new product and grow, it doesn't generate revenue, it just sits there. I'd imagine you'd want to insure it since someone could always steal it while it's sitting there too. You'd want to buy a safe to put it in, a real safe like jewelers and other businesses have. The Feds also tax it as a collectible.
Well, I should disclose I didn't acquire them specifically for gain, more as a hobby, but it certainly can't hurt should tshtf, or I would assume for melt down value.
I get something every Christmas and birthdays. Then, like now it's 59 cents over spot for silver, I'll buy.
I certainly don't invest in Jewelry for any gain.
But a hobby that pays for itself is nice
If you're looking for something as a medium of exchange, I'd go with coins.
From what I've heard most of these buy coins and stuff are ripoffs. They markup the cost of the material >30%. Just buy and EFT like $GLD. I don't own any commodities or precious metals other than as a part of the total stock market.
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