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Is it time to sell the silver and buy real coins...

RYKRYK Posts: 35,772 ✭✭✭✭✭
Or vice versa?

What I mean to say, is it time to sell the Franklin half set which was a 13th birthday gift from my long departed grandmother and her complete set of mostly circ Wash quarters and my tubes of ? To buy dirty gold or type coins for my core collection?

Or should I be selling type coins and southern gold to buy junk silver and more tubes of SAEs?
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Comments

  • Halfhunter06Halfhunter06 Posts: 1,332 ✭✭✭
    Keep what you have till Silver reaches 50. Which at the rate we are going will be early May lol.
  • My heart says sell the silver, buy the coins.
    My head says sell the coins, buy the silver.

  • ColonialCoinUnionColonialCoinUnion Posts: 10,087 ✭✭✭
    Personally, I stick to what I know.
  • ambro51ambro51 Posts: 13,580 ✭✭✭✭✭
    Ive been wondering the same thing. Ive got about 2K worth of junk silver at todays prices....trouble is the 'junk' is in the form of my grandmothers old circulation whitmans...which had the commons already picked out and sold in 1980 by a younger edition of me.

    To keep this? worn, ugly, mostly old cleaned and turning yellow sillvr?

    I dunno. I had been 'advising' people I know NOT to sell any silver or gold until the stock market reaches 14000, at which point I think the PM market will begin to crash.

    I guess it will take some spectacular feuchtwanger variety for sale to make me sell the stuff.................
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    "Is it time to sell the silver and buy real coins...Or vice versa?"

    Anyone who has the answer to this question will likely be very rich when they act upon the information. If such an answer were available, life would be so much easier. No one really can judge the top of the bubble - sure, some get lucky - and admittedly, likely the luck is partially derived from research. In the end however, making the move, is a judgement factor, and few call it accurately. Cheers, RickO

  • 08HALA2008HALA20 Posts: 3,066 ✭✭✭
    I would not sell core collection for silver.

    I would sell silver soon and buy for your collection.

    No matter what silver does you will be happy you increased your collection.

    Grandma's silver? I do not know, isn't that off limits?image

    Joe
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭
    I have a nice coin collection and a nice stash of PM's. Nothing wrong with diversification. Why not some of both?

    Worry is the interest you pay on a debt you may not owe.

  • BarryBarry Posts: 10,100 ✭✭✭
    Looking at the current spot price for silver makes me think irrational exuberance.
  • LanLordLanLord Posts: 11,672 ✭✭✭✭✭
    I probably don't have the correct answer, but I am holding tight to what I have.

    Silver just seems to click higher every time I look, I don't absolutely need to dump it, so it stays where it is. Many people would probably say dump it and take the profit. While that's not bad advice, it's not the thing that a basically lazy, forgetful, person with ADD would do.
  • Walkerguy21DWalkerguy21D Posts: 11,114 ✭✭✭✭✭
    I like having some of each also, but I've already started selling some of the junk silver, and may sell more soon. I've also started shorting silver futures, which has been painful the last few days, but will continue to add to this position (especially if I sell off most of my junk silver).
    Then, if or when I'm right, I'll not only be able to buy real coins, but also maybe that 3 br, 2 ba condo on the water.....and if I'm wrong, well, I still have my day job and my dreams.
    Successful BST transactions with 170 members. Recent: Tonedeaf, Shane6596, Piano1, Ikenefic, RG, PCGSPhoto, stman, Don'tTelltheWife, Boosibri, Ron1968, snowequities, VTchaser, jrt103, SurfinxHI, 78saen, bp777, FHC, RYK, JTHawaii, Opportunity, Kliao, bigtime36, skanderbeg, split37, thebigeng, acloco, Toninginthblood, OKCC, braddick, Coinflip, robcool, fastfreddie, tightbudget, DBSTrader2, nickelsciolist, relaxn, Eagle eye, soldi, silverman68, ElKevvo, sawyerjosh, Schmitz7, talkingwalnut2, konsole, sharkman987, sniocsu, comma, jesbroken, David1234, biosolar, Sullykerry, Moldnut, erwindoc, MichaelDixon, GotTheBug
  • lunytune2lunytune2 Posts: 1,077 ✭✭✭
    Keep Grandmas silver , sell what You accumulated .
  • ModCrewmanModCrewman Posts: 4,027 ✭✭✭✭✭


    << <i>My heart says sell the silver, buy the coins.
    My head says sell the coins, buy the silver. >>

    image
    Outstanding evaluation Frank.
  • RYKRYK Posts: 35,772 ✭✭✭✭✭
    I have been selling junk silver all the way up. All I have left from Grandma's collection is some nearly worthless IHCs and Lincolns in green albums, some buffalo nickels that my son used to start a set, one of her Wash quarter sets (sold the other), the Frankie set she bought me for my 13th birthday for $150 at Kaufman's dept store (and she got ripped!), and a VF 80-CC Morgan that I had slabbed several years ago. I also have a Barber dime "starter set" (ie. many easy dates in AG-G) which I have taken on as a project to complete, and I am two coins away from doing so. That, I believe, is the tribute set--it melds her collection/hoard with one of my boyhood dreams.

    I am sentimental to a point, but I realize that:

    1) Most of all, she would want me to be happy, and if selling her coins was what I wanted, she would want me to do so.
    2) She herself sold a lot of her coins late in life, so she was not so attached to them.
    3) Everything gets sold eventually.

    I am somewhat sentimental about the Frankies and Wash quarters, so I am going to keep them, for now. If I ever really NEEDED the money, I would have no qualms about selling them. I think I will sell a couple of tubes of SAEs and satisfy the urge to participate in the run-up.
  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭
    I have no idea where silver is going. At $43.00+ per ounce it seems absurdly high ... but then I thought it was absurdly high at $24.00 per ounce.

    My gut tells me that a violent downward correction in silver is overdue. There is a tremendous fear factor built into the current price.
    All glory is fleeting.
  • dbcoindbcoin Posts: 2,200 ✭✭
    Last week I went thru all my old albums and pulled out every silver piece either given to me or accumulated and sold it. One month ago I sold all my ASE's that I had bought in the previous 5 years. Buying rare coins now which no one else seems to want.

    Sell the junk and buy good stuff.


  • << <i>I have been selling junk silver all the way up. All I have left from Grandma's collection is some nearly worthless IHCs and Lincolns in green albums, some buffalo nickels that my son used to start a set, one of her Wash quarter sets (sold the other), the Frankie set she bought me for my 13th birthday for $150 at Kaufman's dept store (and she got ripped!), and a VF 80-CC Morgan that I had slabbed several years ago. I also have a Barber dime "starter set" (ie. many easy dates in AG-G) which I have taken on as a project to complete, and I am two coins away from doing so. That, I believe, is the tribute set--it melds her collection/hoard with one of my boyhood dreams.

    I am sentimental to a point, but I realize that:

    1) Most of all, she would want me to be happy, and if selling her coins was what I wanted, she would want me to do so.
    2) She herself sold a lot of her coins late in life, so she was not so attached to them.
    3) Everything gets sold eventually.

    I am somewhat sentimental about the Frankies and Wash quarters, so I am going to keep them, for now. If I ever really NEEDED the money, I would have no qualms about selling them. I think I will sell a couple of tubes of SAEs and satisfy the urge to participate in the run-up. >>



    My God man! Stop the madness! Sell the various 'stuff' and buy a dirty gold coin.
  • robkoolrobkool Posts: 5,934 ✭✭✭✭✭
    I would start selling the 90% silver gradually over time till it peaks out, & buy some rare coins; not a lot tho, and some stocks.
  • JCMhoustonJCMhouston Posts: 5,306 ✭✭✭
    I finished selling the silver bullion last week, reinvested the proceeds in a few high grade British Sovereigns (all PCGS 66). Yes, I might miss out on some gains, but the silver had all been bought between $8 and $21. My feeling is don't get greedy, if you are sitting on a big profit I have no problem taking it now. If I could call the lows and highs I wouldn't be on the boards, I'd be laying on the beach in Bermuda (or some similar haven) having a relaxing day wondering what the peasants were doing.
  • ranshdowranshdow Posts: 1,431 ✭✭✭✭
    I went through my Morgan Danscos on Saturday and pulled out six near-culls that were filling holes. Sold them in Santa Clara, glad for the $174 though I didn't need the money. Just for kicks, I had a 1960 Canadian quarter and an old 2-Franc 18-something-something in the junk box that I brought with me as well... and a dealer paid me $14 for the pair! Insane! I would have taken $4.

    The mkt for junk right now is nutz. It smells toppy to me. Take the money & run.
  • RYKRYK Posts: 35,772 ✭✭✭✭✭
    Does anyone know what the going rate is for SAE tubes? APMEX is paying $44.97 for singles. Is that right? image

    Oh, I forgot to mention the complete set of Roosie dimes, sitting in a WR album for 50+ years. Those gotta go. image
  • holeinone1972holeinone1972 Posts: 5,348 ✭✭✭
    I have nearly liquified all the silver that I bought at $9 to buy the following coins.

    imageimage

    image

    So I paid about $1700 today for these 2 coins, but since I used silver that I bought at $9/oz I actually only paid about $600 for these.

    I wish I had more silver to sell. I sold a boatload (for me anyway) last year when we were about $20 uugghhhh
    image
  • ranshdowranshdow Posts: 1,431 ✭✭✭✭
    That's a beautiful Barber dime- hammered, like a proof with that cameo thing going on. One for the ages.
  • dbcoindbcoin Posts: 2,200 ✭✭
    Those are two beautiful coins. That's what I'm talkin about!!!
  • DNADaveDNADave Posts: 7,239 ✭✭✭✭✭
    It's tempting, but with the # and quality of counterfeits coming onto the scene, it's not just an easy decision for me. Mostly due to the long term affect on the HOBBY.
  • ambro51ambro51 Posts: 13,580 ✭✭✭✭✭
    so how high will silver have to go before their melt value exceeds the 1700$ you paid for the dime and half dollar? image
  • savoyspecialsavoyspecial Posts: 7,267 ✭✭✭✭
    sell at $55 this summer......dont look back

    www.brunkauctions.com

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,795 ✭✭✭✭✭
    image
    Such a good question that I ordered
    1 of these hats to put my logo on.
  • holeinone1972holeinone1972 Posts: 5,348 ✭✭✭


    << <i>sell at $55 this summer......dont look back >>



    I would have waited, but some auctions wait for no man. LOL

    Maybe these sellers could have waited to list these until after I sold at $55 image
    image
  • TahoeDaleTahoeDale Posts: 1,785 ✭✭✭
    Unless you have a ton(2000 lbs) of junk silver, you are not going to be able to buy real rare coins.

    So I would stick with the 50 oz. franklins
    TahoeDale
  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
    It depends on how much silver you have set aside. Silvertowne, cash, and 1/2 bag of 90% helped me finance these at the last show. If I look back now, I may have sold that particular silver too soon, but then again - these coins won't be available at the next show either. Do whatever you do with intent.

    imageimage

    imageimage

    imageimage

    imageimage

    And I'm still buying silver, btw.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • keyman64keyman64 Posts: 15,452 ✭✭✭✭✭
    I suspect my remaining silver will be gone in the summer months....to put towards my dreck coin collection.
    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • AnkurJAnkurJ Posts: 11,366 ✭✭✭✭
    If you buy true PQ coins with silver funds, its a great idea. PQ coins have and will always be in demand. But if you sell silver and buy subpar/less than average coins, its a terrible idea. So in the end, it all depends on what you buy, and at what price. At the same time, you cant buy PQ coins at such a high price that you will be buried in them.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • RYKRYK Posts: 35,772 ✭✭✭✭✭


    << <i>If you buy true PQ coins with silver funds, its a great idea. PQ coins have and will always be in demand. But if you sell silver and buy subpar/less than average coins, its a terrible idea. So in the end, it all depends on what you buy, and at what price. At the same time, you cant buy PQ coins at such a high price that you will be buried in them. >>


    So what you are saying is not to buy dreck but also not to pay up for nice coins. Buy nice coins for dreck money. Got it.
  • pakasmompakasmom Posts: 1,920
    I think you've hit the "right" answer for yourself. The Franklin's for your 13th birthday seem to have the most sentimental "charge." So keep them...

    Without too much agonizing, you can probably let the rest of the 90% go to help fund things more in your collecting interests.
  • I sold a few ounces of gold this weekend and bought a 21 SLQ in VF, several Texas Commems PCGS MS-64's for my all TEXAS 64 set and left with a pocket of cash.
  • AnkurJAnkurJ Posts: 11,366 ✭✭✭✭


    << <i>

    << <i>If you buy true PQ coins with silver funds, its a great idea. PQ coins have and will always be in demand. But if you sell silver and buy subpar/less than average coins, its a terrible idea. So in the end, it all depends on what you buy, and at what price. At the same time, you cant buy PQ coins at such a high price that you will be buried in them. >>


    So what you are saying is not to buy dreck but also not to pay up for nice coins. Buy nice coins for dreck money. Got it. >>



    Slightly over dreck money image
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • JohnMabenJohnMaben Posts: 957 ✭✭✭
    Of all the precious metals, I think silver is by far the most over hyped and over priced. I can easily see gold at $2000 and platinum at $2500. I think silver is being driven by forces that will quickly subside and can easily see $30. It feels soooo much like a bubble. It's in the nightly news almost daily and being bought up by the average guy, both strong sell signals.

    John

    John Maben
    Pegasus Coin and Jewelry (Brick and Mortar)
    ANA LM, PNG, APMD, FUN, Etc
    800-381-2646

  • lkeigwinlkeigwin Posts: 16,885 ✭✭✭✭✭
    I made some lucky guesses during the dot com boom and sold our company start-up stock after the IPO, as I acquired it. Everyone told me to hold...it's just going higher and higher. I didn't feel the need. Selling half penny stock at $150 sounded good to me. When the bust hit, it moved fast. Most of these multi-millionaires on paper lost it all. The company stock which traded as high as the mid $200's is today $3.

    This may not be a perfect analogy but the lesson learned was to not swing for the fence every at-bat. I sold most of the rest of my junk silver on Friday, $42.50 melt. No one knows where and when the peak will be and how quickly prices may fall. What I sold, if I really wanted it back (and I don't), could probably be reacquired sometime in the future for less than I sold.
    Lance.
    (edit typo)
  • fishteethfishteeth Posts: 2,236 ✭✭✭✭✭
    I just sold a bunch to buy an old gold coin I always dreamed of owning. It took a lot of self control to notbring the last few hundred of ounces of silver to todays show.
    It may get taken to Central States though.
  • image

    I vote buy more silver. Unless you're going to buy $50k plus coins which may be good store of value in a smaller size.

  • PCcoinsPCcoins Posts: 3,354 ✭✭✭


    << <i>It depends on how much silver you have set aside. Silvertowne, cash, and 1/2 bag of 90% helped me finance these at the last show. If I look back now, I may have sold that particular silver too soon, but then again - these coins won't be available at the next show either. Do whatever you do with intent.

    imageimage

    imageimage

    imageimage

    imageimage

    And I'm still buying silver, btw.image >>



    Wowsers!!! I really like the 1851!

    Those are on the way to pcgs right??? If not they need to be!
    "It is what it is."
  • dbcoindbcoin Posts: 2,200 ✭✭


    << <i>I made some lucky guesses during the dot com boom and sold our company start-up stock after the IPO, as I acquired it. Everyone told me to hold...it's just going higher and higher. I didn't feel the need. Selling half penny stock at $150 sounded good to me. When the bust hit, it moved fast. Most of these multi-millionaires on paper lost it all. The company stock which traded as high as the mid $200's is today $3.

    This may not be a perfect analogy but the lesson learned was to not swing for the fence every at-bat. I sold most of the rest of my junk silver on Friday, $42.50 melt. No one knows where and when the peak will be and how quickly prices may fall. What I sold, if I really wanted it back (and I don't), could probably be reacquired sometime in the future for less than I sold.
    Lance.
    (edit typo) >>



    You didn't work for WAVX by chance did you? It fits the $200 to $3 profile
  • Bayard1908Bayard1908 Posts: 3,975 ✭✭✭✭


    << <i>Unless you have a ton(2000 lbs) of junk silver, you are not going to be able to buy real rare coins.

    So I would stick with the 50 oz. franklins >>



    There are no real rare coins for under $1 million? I respectfully disagree, especially with respect to patterns.
  • I got back into generic silver as a survivalist backup plan, but I'm not selling coins to buy silver--just spending about 20-25% of my monthly coin budget on it. The rest is still going towards other coins. That way, I'm only out what I would have spent anyway, but I'm still in the game.
    Improperly Cleaned, Our passion for numismatics is Genuine! Now featuring correct spelling.
  • lkeigwinlkeigwin Posts: 16,885 ✭✭✭✭✭


    << <i>You didn't work for WAVX by chance did you? It fits the $200 to $3 profile >>

    No, not WAVX. A gigabit ethernet networking company. A big deal then. Ultra high speed networking at a time the Internet was exploding. Probably a lot of $200 --> $3 companies back then.
    Lance.
  • 66Tbird66Tbird Posts: 2,858 ✭✭✭
    I've been doing both, flipping them pucks and building on the core collection. I've always believed in the historical 16:1 gold/silver ratio. With all the worldwide turmoil and class movement gold had no trouble staying up, silver had to follow and should go more since the dollar keeps buying less. JMHO
    Need something designed and 3D printed?
  • SkyManSkyMan Posts: 9,493 ✭✭✭✭✭
    I got a variety of (mostly) silver stuff (mainly fairly heavily circulated generics) from my paternal grandfather (and maybe grandmother). I never knew him, so had no major attachment to the assorted items. I just took most of the silver minors and sold them off this saturday at the Santa Clara show. I'm keeping some of the minors that are in better shape just to keep as a remembrance, and have held on to the dollars and 50c. Most of the dollars and 50c will be sold if silver hits $60, but again, I'll keep a few of the nicer pieces. FWIW I also sold some Battle Creek Morgans and used the proceeds to buy one coin, an 1893 NGC PR65UCAM Barber dime. Aside from the fact that I'm trying to put together an 1893 proof cameo set, last I heard tell, NGC had only graded 40 UCAM Barber dimes total in the whole series, and who knows how many of those are repeats trying to get the next technical grade.
  • llafoellafoe Posts: 7,220 ✭✭
    If you sold the silver, you wouldn't actually be selling the silver, but a memory trigger. It's not really about the silver.
    WANTED: Cincinnati Reds TEAM Cards
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    It's almost time for me to sell the silver and buy a real new kitchen and patio image

    Liberty: Parent of Science & Industry

  • Raybob15239Raybob15239 Posts: 1,359 ✭✭✭


    << <i>... the Frankie set she bought me for my 13th birthday for $150 at Kaufman's dept store (and she got ripped!) >>



    Ahh, yes, the 9th floor of Kaufmann's Downtown store... the coin dept. was actually a privately owned business that leased space. The business was run by the Meridith family, who now operate the six or so "Treasure Hunt" coin stores in the Pittsburgh area. I used to spend many a lunch hour there looking at Morgans or bidding on the bid board.
    Successful B/S/T transactions: As Seller: PascoWA (June 2008); MsMorrisine (April 2009); ECHOES (July 2009) As Buyer: bfjohnson (July 2008); robkool (Dec 2010); itsnotjustme (Dec 2010) TwoSides2aCoin (Dec 2018) PrivateCoin Jan 2019

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