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OT: Have you purchased Gold or Silver coins?

Geo-TH,In

Geo-TH,In

Well-known Member
I'm looking to purchase gold or silver coins. There seem to be many places to choose from. Don't know which place is the best.

Some places have a fixed mark up on their coins. If the market price for gold selling $1600/oz they sell their American eagles for $50 over the market, $1600.

So, where have you pruchased from? How much over the spot price do they charge? Would you buy a roll of 20 silver coins? What places would you avoid? What kind of coins would you buy? Need a little schooling.

Also, if you wanted to sell your coins, how much do they discount their buying price from the spot price?

Looking for advice on where to buy and sell. Not looking for someone to tell this is a bad idea, which I'm sure someone will!

Thank you,
George
 
If you are thinking about buying coins I would seriously NOT buy Gold coins, too expensive, hard to trade for tangleable items...Like food, guns, fuel. Silver on the other hand is $30 per 1 oz. coin and can be traded a lot easier than gold.
Gold is way over priced now, almost stupid. I do agree that Uncle sambo and federal reserve are printing money to the point of almost running out of paper. But....in the real world Guns, food, all types of fuel will have a better "real" worth than Gold coins or bars. The old investment concept, buy low sell high is always true. Do you think gold will keep going up and up and up? History will tells us that Gold is a poor investment in the long run.
 
Are the "financial gurus" you're referring to mutual fund advisors? Is there a conflict of interest if your investment doesn't include commissions for them?
 
Like they say the path is narrow,the gate is small. Get your golden lifeboat while you still can.Almost everyone has no clue as to what is coming.I don't exactly know either,but want to be prepared.Just this morning bought some beans and rice for my new food storage plan.
 
Wrong time wrong price to be getting in now.

I just inherited a coin collection. I have probably 20lbs of silver dimes, several hundred dollar coins from the early 1900's and a $1000 (today's value) gold coin. Not to mention the hundreds of 1890-1920 nickels and quarters, and the 400-500 wheat pennies. Nothing really rare, but a ton of it. Probably 60-80 lbs worth of coins total.

Just so thieves know, they are not in my house.
 
Gold was steadily rising.Now it seems to fluctuate quite a bit.If you want to invest in it just by it by the ounce.

Vito
 
Selling a coin collection is pretty much a game of chance.

My father-in-law had a rather extensive coin collection. When he passed away, we found out that when a bank looks at a coin collection, all they see is the face value, regardless of how rare the coin might be.

We finally called a knowledgeable local collector that we knew and trusted, had him go through it all and make us an offer on the ones he wanted, and the rest (some $1200 worth) we just turned in to the bank for face value.

Was it the right decision? Who knows. We did it and never looked back.

I've accumulated a bunch of recent gold $1 coins as I've come across them, and a bunch of $2 bills, but I've never gotten into serious collecting, not counting some Taiwanese Yuan coins on my desk.
 
Financial gurus I been listening to say gold/silver is a bad investment.


=================================================

They've been saying that since gold was $360 an ounce. I'd still rather buy gold at $1600 an ounce than buy into the stock market with the DOW at 12,500.

With Greece getting ready to tumble and taking Italy and Spain with it our markets are poised to fall.
 
Hope you didn't have any silver coins that you sold to the bank for face value- At present price of $30 per oz, "junk" silver coins (pre-1964 dimes, quarters and halves, regardless of condition) are worth about 20 times face.

Wonder how much you left on the table?
 
I would agree with the silver coins. People have an idea on their value and would generally accept than readily in a SHTF situation - especially the older Peace and Morgan dollars. Most people have never seen a gold coin.

My wife has been a bit surprised at the growing pile of ammunition in the gun safe. But as I told her - the last bit of 8MM I bought was dated 1943 and still fired great. I can't imagine any 30-06, .243, .308 30-30 or .223 have an issue in the next 25 years (after that I'll probably be dead anyway). Trade or use it could be worth its weight in gold.
 
True.
Copper jacketed lead will be worth a lot in a SHTF situation.
Remember the LA riots 20 years ago. I saw a guy sitting at the entrance of his shop with a sign. "You loot, I shoot" He had a 12 gage pump ready to go.
 
Amen to that.

I"d also agree that silver is the way too go. I bought myself 55 oz of silver when it was $18 an ounce. Regardless of how high it goes, I didn"t buy it as an investment, just to protect a percentage of my assets, as well as a hedge against inflation. I have coins, and 5 and 10 oz bars.

I had very good luck with apmex.com
I"ve heard very good things about midas resources as well
 
Silver was about $5 an ounce then, so about 3 times face, but buyers never pay spot, and you'd have got even less for an odd lot. So may have been as good a way to go as any.
 
I have 16 responses and NO ONE has answered my question. I may conclude that you haven't purchased gold or silver, yet you are giving me your 2 copper coils worth of advice.

I'm only interested in where to buy.

What good is having money in the bank that is paying 1% APR and you have to pay taxes on it?

That's $100 income for every $10,000 investment. Please, I want to try something different. NOT INTERESTED IN OPINIONS TO THE CONTRARY.

Thanks,
George
 
I don't know where to buy them in the U.S. or if they are still sold but ------- Rands from South Aftrica are a troy ounce of pure gold. You can pay a slight premium for coins made when the dies are new, produces sharper immages. I worked over there several years ago. You could buy ------- Rands at the Intermnational airport back then.

I'd google ------- Rand.
 
No NO NO . seems you are a little ungrateful for the responses.Suggest you place "gold brokers" in your search engine and work it out for yourself.
 
Copper is $2.60 per pound scrap right now.

I also have rocks with gold paint that I can sell you at a discounted 1/2 price, this week only, get them while theyre hot.

I invest in precious metals, Copper jacketed lead....you just never know when your life will depend on giving rather than receiving.
 
Well, sure, George, I buy from Pat Slusher's Coin Shop in Centralia, Washington, and recommend him highly. I don't know what his rates are compared from others, because no matter what it is, its cheaper (and safer) to deal with him than going to Seattle.

Hope this helps, but I'm pretty sure it won't, because ITS A LOCAL THING. You've gotta figure it out for yourself. Find out who buys and sells in your area, and compare their rates. Regardless of what any buyers say, you have to deal across the counter, because, of course, nobody with enough money to buy precious metals would be foolish enough to ship it somewhere (and wait for them to flee with your money).

Sheesh.
 
DON'T YELL AT US! If you want only a answer to your question why do you ask on a forum that usually gives opinions on non tractor related items.Do your own research.Goggle works very well with little effort required than call those people. IMHO the gold boat has sailed.I could be wrong on that but that is my gut feeling.We should have all bought at $ 400 a ounce.

Vito
 
I have dealt with: LEAR CAPITAL,GOLD LINE and J H MINT. Each has different terms , But you want to deal with an honest firm who can deliver from stock. Check out all 3 and find which has the best to offer you. Silver:smaller $ amounts but greater volume and volitility. Gold more $ for size but easier to store. I would suggest COINS that are easy to identify from US,Canada South Africa, Stay away from older dated coins which carry a historic value also unless you are planning to hold them in excess 5 years. READ ALL you can find from these and other Valid sources on the net.There are a lot of sharks out there. You may get info from coin shops if they are in your area. I do strongly suggest you do this now with what ever you can and are comfortable with. GOOD LUCK
 
call silvertowne in Winchester Indiana they are a excellent company to deal with. You can also look them up on the web. By the way they also raise some high quality beef!!
 
Many are thinking that silver is a better play than gold, because gold is just a precious metal, but silver is used extensively in electronics and industry, and the stockpile of silver is getting alarmingly low. Short sellers are manipulating the price of silver to keep it as low as possible, but at some point, industrial users will start bidding it up quickly. Idustrial users really have no substitute for it, but they don't need enough in relation to the price of their products to make the price very important to them- so they just bid it up, because they can't build their stuff without it.

"Junk coins"- pre-1964 dimes, quarters and halves, regardless of condition, is considered to be a good way to buy, because in a SHTF situation, a "black market" value will quickly be established so you can buy goods directly with the coins. Not so easy to do anything with bars or bullion.

Coins have traditionally been sold in "bags"- $1,000 face, which are now selling for about $22,000. They are usually now split into "half bags", because of the high cost, and the full bags push 50 lbs. so are hard to handle for some. 715 oz. of silver in a full bag. They sell at a premium over bars, because of the ease of using them as individual coins to buy stuff if it comes to that.
 
Why not just buy gold on the exchange the same as everyone else? Or buy gold jewlery locally?
Exchange seems to make more sense if you want to trade/specualte to make money on it...
I really don't understand the notion of buying and holding it against a currency devaluation given that gold is valued in dollars and not the reverse...

Rod
 
Most pawn shops will have generic 1 oz. silver rounds.
They are not a bullion coin.
They have no premium & cost a few $ over spot.
A good way to get started.

The pawn shops will also have 10 oz., etc. silver bars.
 
Personally I think you should add hookers to your investment portfolio. Guns liquor and hookers always do well in an economic crisis.
 
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