Was in the coin shop today and....
PrivateCoinCollector
Posts: 2,415 ✭
Watched a guy come in, ask for 340 Ounces (3-100 oz. bars and 40 rounds) and then pay cash for them. What does he know that I don't? It is like there is this whole bullion world out there, and I have no clue why? If it goes up a dollar, he makes $340. Hello? Is thing thing on?
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What's really interesting (weird) is the intersection of the survivalists/gun nuts and the coin/bullion guys.
Check out the Southern Gold Society
the right of the people to keep and bear arms shall not be infringed
Join the NRA and protect YOUR right to keep and bear arms
To protest against all hunting of game is a sign of softness of head, not soundness of heart. Theodore Roosevelt
[L]http://www.ourfallensoldier.com/ThompsonMichaelE_MemorialPage.html[L]
The difference with paid for silver in hand is just that, you have it in hand and you don't have to worry about delivery or non-delivery.
90% silver US coinage generally gives you the most bang for your buck. Plus, you may find something of numismatic value on a rainy day!
Oh yeah, I almost forgot, make sure you have guns and bullets if your stash is within 100 yards of your residence....like that would do any good anyway!
<< <i>right now is not really a great time to buy much silver or gold anyway being that gold and silver are no really steady. One day they are up a lot, the next they are down even more >>
That's pretty much like the stock market, eh? Gold is about as stable as it gets. Take a look at the 10 year gold chart. That's almost a perfect incline:
Gold chart
I bought silver at $4.50 an ounce, $7 an ounce, and I'm still buying it. If it's that or cash, it's a no brainer. Every investment portfolio should have precious metals. No exceptions. Cash=bad investment. Stocks=if cash crashes, so do stocks. Precious metals=a hedge against inflation and down markets.
<< <i>The dealers in my area actually discount anything over a 1 oz bar or round Doesn't make sense to me, but it's their business.... >>
1 ounce rounds cost $1.00 to manufacture. 100 ounce bars cost about the same to manufacture. Thus, 100 ounce bars cost less per ounce to make, and so they cost less to purchase. Gold and silver eagles are bullion coins--I don't understand the desire to get them slabbed, but that's someone else's worry. In any event, I enjoy looking at my bullion so I've found ways to make it collectible as well as an investment. Investing in gold and silver stocks is a terrible idea--because the whole point of investing in precious metals is to have something tangible, not a piece of paper.
- Marcus Tullius Cicero, 106-43 BC
<< <i>There is a whole lotta " Worlds " out there this forum has not touched on much . >>
And there are a lot of worlds that this forum bumps into without the author realizing where he's at. (not talking about this thread). --Jerry
<< <i>
<< <i>There is a whole lotta " Worlds " out there this forum has not touched on much . >>
And there are a lot of worlds that this forum bumps into without the author realizing where he's at. (not talking about this thread). --Jerry
Yepper !
- Marcus Tullius Cicero, 106-43 BC
John
Never view my other linked pages. They aren't coin related.
Now, this might be heresy on this forum, but, if everything goes to pot the way I think it may, coins, may lose some of their intrinsic value. By that I mean, you rare half, dime, half dime, etc., could go down as people need money for other things to live on. In fact all collectibles could go down as you could see an onslaught of these type of coins hit the market. I know coins did well in the last severe recession around the early 80's, but I think what is coming up will dwarf that period.
I work in the securities industry so I am on top of stuff like this.
<< <i>A $340 profit sounds all right to me for two, couple minute transactions.
John >>
The same volitility creates a big spread on the sell side too, so that if silver goes up a dollar, when you sell you may only capture 70c
I give away money. I collect money.
I don’t love money . I do love the Lord God.
BTW, what's his address? LOL.
<< <i>At $655 per ounce that would be $222,700.00! He better keep it somewhere safe.
BTW, what's his address? LOL. >>
Most coin shops don't have 100 oz. gold bars, much less three of them.