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Is it time to sell the silver and buy real coins...
RYK
Posts: 35,789 ✭✭✭✭✭
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?
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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My head says sell the coins, buy the silver.
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.................
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
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?
Joe
Worry is the interest you pay on a debt you may not owe.
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.
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.
<< <i>My heart says sell the silver, buy the coins.
My head says sell the coins, buy the silver. >>
Outstanding evaluation Frank.
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 gut tells me that a violent downward correction in silver is overdue. There is a tremendous fear factor built into the current price.
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.
World Collection
British Collection
German States Collection
The mkt for junk right now is nutz. It smells toppy to me. Take the money & run.
Oh, I forgot to mention the complete set of Roosie dimes, sitting in a WR album for 50+ years. Those gotta go.
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
www.brunkauctions.com
Such a good question that I ordered
1 of these hats to put my logo on.
<< <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
So I would stick with the 50 oz. franklins
And I'm still buying silver, btw.
I knew it would happen.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <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.
Without too much agonizing, you can probably let the rest of the 90% go to help fund things more in your collecting interests.
<< <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
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
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)
It may get taken to Central States though.
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.
<< <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.
And I'm still buying silver, btw. >>
Wowsers!!! I really like the 1851!
Those are on the way to pcgs right??? If not they need to be!
<< <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
<< <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>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.
U.S. Type Set
Liberty: Parent of Science & Industry
<< <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.