How do you feel about purchasing SILVER coins from the mint now silver is tanking
mach19
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TIN SOLDIERS & NIXON COMING 
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mach19
Posts: 4,674 ✭✭✭✭
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Will be a while before I purchase any silver from the Mint at this point in time.
Mint needs to lower their prices at least 20% or more and silver will need to be $75+
It would be nice if their prices come around to what silver is worth now. Then adjust it to whatever comes. I think they are slow on the draw especially when the price dips.
I don't see how anyone is going to buy until they adjust prices back down.
Even if they bring prices down I still think its gonna be expensive so no
The Mint would have bought that silver when it was high. They need to make a profit when they sell it, otherwise they're just wasting their time and the government's money.
Nobody in the business of buying and selling silver - including the Mint - is in a rush to lower prices after a price drop, for that exact same reason.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded the DPOTD twice.
Just like the price of gasoline... It rises like a rocket , and falls like a feather .
That's some beautiful poetry right there.
Absolutely no effect. There's hardly any difference in the premium. You were happy to pay $170 for $80 worth of silver a month ago and suddenly $170 for $65 worth of silver is supposed to make a difference? IT'S NOT BULLION. It should not be bought as bullion. It has always been the worst way to buy bullion.
All comments reflect the opinion of the author, even when irrefutably accurate.
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how eager are people after the mint almost doubled prices and silver has almost been cut in half?
i think that is a question easily answered
How many buyers have more money than sense?
I don't know, but I bet you'll get a bigger number if you include asking people who don't collect coins at all.
Did you purchase the congrats set @ $175 thinking the price of silver was going to TANK , And you had a difficult time selling them @ $217.50 ?
I haven't bought anything from the mint in a decade. I did buy two rolls of mercs. today though.
Nice !
Wrong question. I didn't buy the Congrats set with any thought as to what silver was going to do because the silver price has almost zero effect on the price of the set until silver hits $200 an ounce. NO ONE SHOULD EVER buy a numismatic product from the Mint with a thought as to what bullion prices will do. It's NOT a bullion price.
Let's say the Congrats set is worth $200 at $70 silver. Do you know what it's worth at $100 silver? Simple. It's worth $200. The price will NOT move with the price of bullion. It's also worth $200 at $50 silver.
All comments reflect the opinion of the author, even when irrefutably accurate.
Both, money yes, sense no 👎
Agreed.
Has anyone cut a check to the Mint for their 1963 proof and mint sets since silver went up? Yeah, that would be stupid.
Silver is exceptionally volatile currently, but in the next few years will be far over $100, try buying your sets then and nobody is going to get a discount right now, so either buy or don't buy -- it is called CHOICE, you actually have one. So just make it and move on.
I am sad to report that I have more sense than money, if I had more money I would have already completed my 1916 mint set, but those pesky 1916-D Mercs and 1916 SLQ are just so OVER PREMIUM in MS65 that maybe I'll hold my breath and stomp my feet until someone gifts me one of each.
I wanted to buy some FIFA coins, the least expensive from the US Mint is/was $61.00 for a clad half dollar.
I bought a roll of Canadian dollars for $59.00. Well I purchased 2 rolls one colorized and one roll plain.
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Hang tough 💪 😉. I feel your pain
The silver market has turned into a bad joke on peanut players. It's going even lower. It wouldn't surprise me in the least to see it below $50/oz. by years end.
The measure of intelligence is the ability to change.
Albert Einstein (14 March 1879--18 April 1955)
Not a very good place to be putting $200 into imo. $200 can still buy the patient collector one or two decent classic pieces for his or her collection and the pieces don't necessarily need to be made of silver or have a fancy grade from a TPG.The problem many have is impatience. Getting impatient with money to spend burning a hole in the pocket is problematic for many a collector.
The measure of intelligence is the ability to change.
Albert Einstein (14 March 1879--18 April 1955)
Silver tanking???
Sure, down a little this week, but still higher than it's been 99% of many/most of our lives.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
So, if the stock market dropped me then 40%, you would say the same? That really makes the 1929 stock market movement look better. Lol
All comments reflect the opinion of the author, even when irrefutably accurate.
Probably the only Mint silver products affected are the companion medals with the BOM series, albeit indirectly. Strictly on a retail cost to us from the Mint. No secret that gold is falling. If it continues through the end of the series, will literally save thousands in comparison to previous highs. I believe the BOM series will be the best collector and investment sets that the Mint produces this year. Alright contrarians, take your shot.
Boom...we win.
I doubt it.
All comments reflect the opinion of the author, even when irrefutably accurate.
I "sense" that to some people money is no object.
Pete
I stand corrected.... You are Right !
I think you're just humoring me. Lol. Love ya still!
All comments reflect the opinion of the author, even when irrefutably accurate.
Thank's bro .... At the very least I will admit when I am wrong
Even so, it's psychological. You know this, because you constantly lecture people on it.
When silver is going up, people justify the premiums by rationalizing that if it keeps going up, they won't lose money. And you tell them that if that's the play, the premium will disappear and they'd be far better off just buying bullion.
On the way down, it's hard to ignore the fact that the premium represents money being flushed down a toilet. Even if it's only an additional $15. Plus, with gold, we are talking hundreds of additional dollars. Again, psychology, not numismatics.
The system is at it's best for the privileged few by fleecing the unwashed out of their money as fast as possible.It's a long, hard learning curve for those who try to play the silver game.
The measure of intelligence is the ability to change.
Albert Einstein (14 March 1879--18 April 1955)
In the end it’s our decision- no one is forcing us to buy coins, medals, bullion from the mint or any other source. Prices fluctuate and sometimes we make a good decision and sometimes we miss. You have to decide if you have the constitution to ride the high and lows or not.
The thread itself is proof of the psychology of it. But the question was how I felt about it. And the reality, psychology aside, is that the $15 drop in silver did not change the secondary market price of any of these items that carry a significant premium.
All comments reflect the opinion of the author, even when irrefutably accurate.
As usual nowadays, totally agree. But the question really wasn't how YOU felt, because anyone paying attention already knows how you feel. The question was directed to others, and the answer is 100% psychology. Not secondary market pricing.
People justify large premiums on the way up, because they feel they will recapture them. Not so much on the way down, no matter how much or how little the premium is. Of course, no one "feels good about purchasing SILVER from the Mint at large premiums when silver is tanking." Because, psychology.
At the risk of a slight disagreement, the title of the thread is: "How do you feel...?"
All comments reflect the opinion of the author, even when irrefutably accurate.