Thread: It's time to buy Silver (again)

Evidently, this coin is currently "worth" about $2.75 US when the metal content and mass are summed.

http://www.coinflation.com/coins/194...ime-Value.html

Originally Posted by jmpet

I didn't come here to argue or debate, I am just putting the shout out.

i started collecting precious metals/coins in 1965

i have an amazing amount of silver and gold cached away, but in the early 1980's i had an epiphany and stopped investing in it; i still have the coins, but over the last 30+ years, all that silver and gold hasn't ever given me any financial return; the stock market holdings that my investment manager has made for me, paid infinitely more dividends than the gold or silver

Originally Posted by dudeman

Evidently, this coin is currently "worth" about $2.75 US when the metal content and mass are summed.

i used to scour vast amounts of coins for silver dimes, quarters and ¢50 pieces, in the 1960's, '70's and part of the '80's, after that it wasn't worth the effort

It IS worth the effort. I bought a $1000 bag of silver in 2001 for $3250... $4.54 an ounce (715 ounces in a $1000 bag of 90% silver coins). I kept the best 10% from the bag and sold the other 90% on eBay at a break even point. I ended up with 71 free ounces of silver.

Sure it was work but coins are my hobby and I am happy to sort through thousands of coins for the good stuff. Those 71 free ounces are worth $3250 today.

So I broke even 10 years ago but I have a three grand profit today to show for it.

And puh-lease don't "Hunt Brothers" me- it's so ignorant of you. They tried to corner the market and they did for a few months, but even billionaires run out of money and with 700 million new ounces in circulation every year they couldn't have possibly kept it up. And yeah- silver was $50 an ounce 20 years ago but know what? It'll be $50 an ounce a few months to years from now, only this time for real.

I am predicting $50 silver within the investable future. I am getting too much information from too many sources that tell me so. I started this thread to pass that info along, that's all.

If anyone wants financial advice on silver I am happy to give it. I can show you how to make money on coins.

Originally Posted by jmpet

It IS worth the effort.

nope, i haven't seen any silver coins in circulation for nearly 30 years

Mississippi, right?

The time to get in was really 2 years ago. IIRC I posted a thread about it. Then, as now, there was a lot of derision from the peanut gallery.
I bought in at $13 an ounce and turned almost 200% pure profit in that time. You know what they say; "living well is the best revenge".

I expect the structural silver deficit combined with the boom in LCD production to create a severe shortage in the next couple years, so I'm not ready to cash out yet.

Originally Posted by jmpet

Mississippi, right?

New Mexico's got you beat by a penny.

http://www.taxfoundation.org/research/show/266.html

Originally Posted by jmpet

Mississippi, right?

new orleans, dallas and san francisco, too

Originally Posted by jmpet

New Mexico's got you beat by a penny.

http://www.taxfoundation.org/research/show/266.html

yep, mississippi is the 50th state for many things, but it's a good place to buy acreage and have a big forested buffer zone

Interesting thread.

First, I’d like to point that buying silver coins is different than “buying silver.” Silver coins have a vast customer base in that individual collectors often sell to fellow collectors. Even considering numerous coin dealers, an absence of central control dictates the coin market. Coin collecting is a hobby for millions as well as a profitable hobby and business for a few.

Bullion is another matter entirely. The bullion market is tightly controlled by refineries who primarily sell to industries that use silver. Individuals interested in bullion should remember this: The price of silver quoted on the Commodities Exchange is the institutional seller’s price. Individuals looking to sell silver bullion in there possession will get a hell of a lot less than the quoted price when they sell. On top of that there is a refining charge should an individual sell directly to a refinery, and that’s assuming the refinery doesn’t give the seller a short count.

Also, the craftsmanship involved in fashioning silver or gold jewelry is inconsequential to anyone in the business when they are buying. Craftsmanship, or beauty if you prefer, counts for nothing when a professional is doing the buying no matter how much you may think it enhances the value of your favorite ornament should you decide to sell. It’s all going to be melted down anyway.

If investors buy and sell on the exchange brokers take a commission on both ends.

The important factor in predicting the price of silver (and gold) is reclamation. Precious metals have been reclaimed over and over again down through the ages. That means it is possible for the average person to own a piece of jewelry containing a grain of silver that was mined in ancient Egypt.

Parenthetically, there is a grain of truth in the pawnshop come-on “We buy old gold.” The question is: How does the pawnbroker know it is old gold?

Photography once used the most silver by far. That includes medical X-rays. The silver is reclaimed from medical x-rays worldwide.

I’m not sure if photography still uses the most silver what with scientists inventing more ways to produce photographs without using silver nitrate. People now take pictures with cell phones and print copies of the pictures off their computers; so it’s only a matter of time before silver imaging photography becomes a thing of the past.

In addition to photography copper/silver wire is being replaced by fiber optics in transmission lines.

There is a small percentage of silver in all copper wire. Cell phones are already reducing the need for telephone lines in new homes. Every wire in every older building contains silver. Think about the total tonnage after it is reclaimed. And it will be reclaimed along with the copper.

Without photography, and copper/silver wiring, there is so much silver in the world my guess is that in the very near future the price of silver will come down so much governments will return to minting silver coins just to stabilize the market.