Some people have a hard time selling, thats why I think its good to do it every now and then. I started collecting around 2000, silver was @ 4$/oz and silver eagles around 6-7$. First one I bought looked like it cost 100$ to make nice coin, but still just bullion to me. Dumped a lot of silver dollars in 2011 at a coin show when it got near 50$/oz, but also sold at times when I just needed the cash, and traded a lot with friends in lieu of $$.
I havent bought PMs in a while because Im more of a collector than stacker, and was checking out silver and gold when I noticed the high premiums, especially silver. There are some supply reasons I'm sure, as I checked out perth mint and it seemed they had little for sell, also heard that european smelters are slowing down due to the crazy high energy costs. So, I decided to go another way, platinum ingots are near spot and about half the price they cost years ago (remember 2000$/oz??) and pamp has a digital scan that verifies the ingot (veriscan). Also, I used to mine gold and know what it looks like, nuggets are hard to fake, and are fungible, but a little harder to sell, but you can get them for a reasonable amount near spot, if you know how to shop, however, I do see some sellers with crazy high prices for "specimens".
As always, caveat emptor, and sell from time to time just to get the feel for it.
Some people have a hard time selling, thats why I think its good to do it every now and then. I started collecting around 2000, silver was @ 4$/oz and silver eagles around 6-7$. First one I bought looked like it cost 100$ to make nice coin, but still just bullion to me. Dumped a lot of silver dollars in 2011 at a coin show when it got near 50$/oz, but also sold at times when I just needed the cash, and traded a lot with friends in lieu of $$.
I havent bought PMs in a while because Im more of a collector than stacker, and was checking out silver and gold when I noticed the high premiums, especially silver. There are some supply reasons I'm sure, as I checked out perth mint and it seemed they had little for sell, also heard that european smelters are slowing down due to the crazy high energy costs. So, I decided to go another way, platinum ingots are near spot and about half the price they cost years ago (remember 2000$/oz??) and pamp has a digital scan that verifies the ingot (veriscan). Also, I used to mine gold and know what it looks like, nuggets are hard to fake, and are fungible, but a little harder to sell, but you can get them for a reasonable amount near spot, if you know how to shop, however, I do see some sellers with crazy high prices for "specimens".
As always, caveat emptor, and sell from time to time just to get the feel for it.
+1 Excellent Post!
Q: Are You Printing Money? Bernanke: Not Literally
@blitzdude said:
Gutter is not rare, there is way more supply than demand.
That is not how a market works. The price of something always seeks a level at which supply and demand are nearly equal.
So at any given market price for silver, it is more accurate to say that supply and demand are balanced.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
Some people have a hard time selling, thats why I think its good to do it every now and then. I started collecting around 2000, silver was @ 4$/oz and silver eagles around 6-7$. First one I bought looked like it cost 100$ to make
nice coin, but still just bullion to me. Dumped a lot of silver dollars in 2011 at a coin show when it got near 50$/oz, but also sold at times when I just needed the cash, and traded a lot with friends in lieu of $$.
I havent bought PMs in a while because Im more of a collector than stacker, and was checking out silver and gold when I noticed the high premiums, especially silver. There are some supply reasons I'm sure, as I checked out perth mint and it seemed they had little for sell, also heard that european smelters are slowing down due to the crazy high energy costs. So, I decided to go another way, platinum ingots are near spot and about half the price they cost years ago (remember 2000$/oz??) and pamp has a digital scan that verifies the ingot (veriscan). Also, I used to mine gold and know what it looks like, nuggets are hard to fake, and are fungible, but a little harder to sell, but you can get them for a reasonable amount near spot, if you know how to shop, however, I do see some sellers with crazy high prices for "specimens".
As always, caveat emptor, and sell from time to time just to get the feel for it.
Some people have a hard time selling, thats why I think its good to do it every now and then. I started collecting around 2000, silver was @ 4$/oz and silver eagles around 6-7$. First one I bought looked like it cost 100$ to make
nice coin, but still just bullion to me. Dumped a lot of silver dollars in 2011 at a coin show when it got near 50$/oz, but also sold at times when I just needed the cash, and traded a lot with friends in lieu of $$.
I havent bought PMs in a while because Im more of a collector than stacker, and was checking out silver and gold when I noticed the high premiums, especially silver. There are some supply reasons I'm sure, as I checked out perth mint and it seemed they had little for sell, also heard that european smelters are slowing down due to the crazy high energy costs. So, I decided to go another way, platinum ingots are near spot and about half the price they cost years ago (remember 2000$/oz??) and pamp has a digital scan that verifies the ingot (veriscan). Also, I used to mine gold and know what it looks like, nuggets are hard to fake, and are fungible, but a little harder to sell, but you can get them for a reasonable amount near spot, if you know how to shop, however, I do see some sellers with crazy high prices for "specimens".
As always, caveat emptor, and sell from time to time just to get the feel for it.
+1 Excellent Post!
I knew it would happen.
. > @dcarr said:
calculating equilibrium price
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey