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Who/What got you interested in pm's and when did you start?
guitarwes
Posts: 9,240 ✭✭✭
I didn't grow up in a family with any avid or novice coin collectors or PM stackers so I really had to pretty much fall into this myself, and the geographic location I'm in does not have any coin shows within about 2 1/2 hours drive.
In early 1990 (at age 12) , I found a small tin of misc hodge podge of worn buffalo nickels, wheat cents, and a few silver dimes and quarters that my dad accumulated in the 60's-80's. They were neat, but didn't do anything for me as I was into baseball cards hot and heavy (a mistake I'll later regret, I should've bought coins). Well, girls and cardboard got in the way until early 2003, I rediscovered this tin and went thru it to see what was all in there because the last couple of years before that my brother and dad got into metal detecting and found some neat coins/stuff that they shared with me.
In 2004 after buying my first Redbook and finding an antique mall store coin display, I made my first "collector coin" purchase, a 1921-D Merc Dime for $45. I though I was crazy spending $45 for a dime. Then I discovered the US Mint and I started buying stuff hand over fist from there and Ebay. I was ignorant about coins, but I was hooked on buying anything and everything that I liked. I became fond of the early/mid 20th century dimes, quarters, and halves. I had been working a real job for 2 years and had a little disposable income along with my wifes income.
Because I thought they were "neat" (not because they were silver), I started buying rolls of Walkers, Franklins, Merc Dimes, and 90% Washington Quarters for about 4.5-5X face value from ebay. A few months later, by happenstance, I took several of these rolls of 90% silver to my local coin shop to try to trade them for some "collector coins" I just HAD to have. Well, by that time the value of them was about 7X face value. I thought to myself, "dang, I just made some money on these and it's something I like buying and are readily available". From then on, I have been learning, buying, selling, and trading up.
I wish I could say that I still had all of that 5X face value silver, but it is long gone. My cost basis now is a good bit more than that, but the sales of what I had were put to good use throughout my 8 year buying stent and I still have a few nice collector coins that it was traded for.......but, in hindsight, I wish I had the silver.
In early 1990 (at age 12) , I found a small tin of misc hodge podge of worn buffalo nickels, wheat cents, and a few silver dimes and quarters that my dad accumulated in the 60's-80's. They were neat, but didn't do anything for me as I was into baseball cards hot and heavy (a mistake I'll later regret, I should've bought coins). Well, girls and cardboard got in the way until early 2003, I rediscovered this tin and went thru it to see what was all in there because the last couple of years before that my brother and dad got into metal detecting and found some neat coins/stuff that they shared with me.
In 2004 after buying my first Redbook and finding an antique mall store coin display, I made my first "collector coin" purchase, a 1921-D Merc Dime for $45. I though I was crazy spending $45 for a dime. Then I discovered the US Mint and I started buying stuff hand over fist from there and Ebay. I was ignorant about coins, but I was hooked on buying anything and everything that I liked. I became fond of the early/mid 20th century dimes, quarters, and halves. I had been working a real job for 2 years and had a little disposable income along with my wifes income.
Because I thought they were "neat" (not because they were silver), I started buying rolls of Walkers, Franklins, Merc Dimes, and 90% Washington Quarters for about 4.5-5X face value from ebay. A few months later, by happenstance, I took several of these rolls of 90% silver to my local coin shop to try to trade them for some "collector coins" I just HAD to have. Well, by that time the value of them was about 7X face value. I thought to myself, "dang, I just made some money on these and it's something I like buying and are readily available". From then on, I have been learning, buying, selling, and trading up.
I wish I could say that I still had all of that 5X face value silver, but it is long gone. My cost basis now is a good bit more than that, but the sales of what I had were put to good use throughout my 8 year buying stent and I still have a few nice collector coins that it was traded for.......but, in hindsight, I wish I had the silver.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work.
Too many positive BST transactions with too many members to list.
Too many positive BST transactions with too many members to list.
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For me,
13 months ago, via a Preppers Audio book on 90%, and now hooked for life.
One piece of advice I pass on to all that ask is "keep your PM approach separate from your coin collecting."
Keep an open mind, or get financially repressed -Zoltan Pozsar
As time went on I continued stacking with disposable income and have built up a fairly large stash, in fact I really don't need to buy any more PM's but continue to purchase unusual bars and semi key dates for bullion. The other day I got the following walkers: vg 1919-D, vg1919, vg-f 1920-D, ag 1921-s, f 1927-s, f 1928-s, f-vf 1929-D, f 1929-s, 2-1933-s in vf and a 1946 DDR in vf for $12 each, also got a nice vf SLQ and some barber coins in vg-f. Sometimes they have nice AU mercs for bullion and I will buy them so the thrill is in the hunt.
Knowledge is the enemy of fear
and sold them all in 1980 at 45/OZ then started back buying
them and rounds in mid 90's, wish I bought more at 5/OZ
back then!
Steve
2006 was more of a launching point though with the 20th Anniversary Silver set craze.
It was great timing, not skill on my part, just dumb luck.
From then on, it was easy to see where the price would be going.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
grandfather in the 1960's and started buying
silver bullion's in the early 1970's for about
$2.00 oz. Have been buying ever since.
Should have sold in 1980, but kept it.
I'm not sure of the date but I've always liked PMs because they were worth something just because of the metal content.
I bought a couple of rounds around 2000. Once I remember passing up a silver round because the seller wanted $5 for it and melt was lower than that.
I bought some gold in Dec 2004 - Jan 2005 for about $480 an ounce. I remember life got busy and a few months later the gold price shot up to around $800, so I stopped buying. I thought that was all that gold was going to do.
Then there was a time I was disgusted to pay $5 an ounce over melt for silver rounds. I bought a few for about $18-22 each.
Most recently while I was employed I was buying one ounce of silver each payday. Prices are lower now but I'm convinced silver will go up. I still do not have much but plan on buying more once I get a job.
Yes, I also set aside pre-1982 cents and nickels.
Cheers
Thought I was getting it cheap at $13/oz. Sold it on the next dip and rebound around $8/oz. Didn't touch gold again except for numismatic coins until 2002.
Read Jim Sinclair's stunning interview in the Rosen Numismatic Advisory in Aug/Sept 2002. Once I heard that there were $200 TRILL of otc derivative junk out there I was pretty
convinced of Sinclair's call of $1200 gold. Up until then I had never heard of an otc derivative. I started buying $20 Libs and Saints in Sept 2002 at $315/oz gold.
Thanks to Maurice and Jim. Best $48 I ever spent on a subscription.
Coin collector, metal detectorist, bullion stacker.
My wife just barely kept me from naming my son Argent.
It's either in your blood or it's not.
--Severian the Lame
Fast forward to after college and starting working, made some money in the stock market, resumed working on the type set and buying rolls of silver coins in 1995, really went nuts 1998-2002, then socked it away, got married, bought a house, had a couple kids, and continued to work on the type set infrequently until the present time.
Sold some metal in 2010-2011 but alas, not enough. Still waiting for 2000 gold and 50 silver to sell some junk.
Liberty: Parent of Science & Industry
Even though I was able to see his collection only a couple of times when I was a kid, I knew that coins may be valuable and definitely interesting.
I have always saved coins and notes from our trips, I even bought two gold coins as gifts for some friends but never started my own collection.
Not even when we switched to the Euro. I had all the coins of the first year but that was it, no coin fever.
Then I moved to the US and I started buying the State Quarter sets for my dad, as Christmas gifts.
Through the US Mint, I received the flyer of the UHR and decided to buy one, as a way to get closer to my dad (my wife was shocked when she found out the price!).
That was my first "real" coin which made me find this forum. The US Coin Forum first, with the loooong thread about the UHR, but I got hooked with PM down the road.
As Derryb suggested, I try to keep my coin collection (who cares about spot!) separated from my "PMs" (what, one extra cent over melt?!) but sometimes both approaches cross their paths...and it becomes even more fun!
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My wife just barely kept me from naming my son Argent.
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Part of the decision to buy some gold in the market crash came from my childhood memories what real inflation means. When I was born in late sixties in then USSR my grandparents put one thousand rubbles into government savings account. At the time that was their year worth of earnings for 2 middle-class well educated working people that you could buy 2 soviet-made cars with this sum. 25 years later when I was emigrating to USA in early nineties I was able two buy 2 PAIRS OF SOCKS with entire account.......
So back in 2008 crash I decided to buy a few PM coins just to have something of value in my posession to pass to my kids and knowing nothing about them I bought a few 2008 "W" Buffalos, Gold Eagles and Plat Liberties from the Mint along with a few 2008 W burnished Plat $25 Libs from Apmex at nearly melt price. Next 2009 year I also bought a few UHRs. Needless to say I never regretted those purchases and got hooked onto modern PM "junk" for now
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
The reason I got interested in pms was the same reason that I got interested in coins - the idea that you can store a little bit of choice in the form of a coin or piece of metal and then, years later, you can make that choice. It's like having a little bit of free will stored up for the future. Seems reasonable to me.
I knew it would happen.
i was still working in retail and always grabbed any silver that came in, had been for years. its what got me started on Washington quarters.
i was at a garage sale with my dad and there was a book of ASE, all 10 consecutive dates, dont recall what we paid, around melt though. also got an incomplete jefferson nickle book with all the silver nickles for face.
some would count the ASE proofs as bullion [need 4 dates to complete them]
the B&M was across the street and up until then i had only been in a few times, getting any 1oz silver bars that caught my eye, ususally for $5.
now they now me by name.
the state quarters really kicked in the collecting & PM intrest.
after the divorce (i kept everything she didnt steal) i joined here and have learned a tremendous amount!!! THANKS ALL!
i used the face value silver i had collected and traded up (never "sold" any) as silver passed $25 to complete the washington set and a WLH set. both are complete, but i continue to upgrade both.
wish i had waited to start trading @ $40!
its was great trading a $10 roll of (silver) quarters for a MS 32D slider.
1/2 dollar roll searches were dry in 2012...
i've add whenever i can, especially when its was < $30.
i need more!
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......