Gold, Silver and Current Crisis

[GedLee]

Wondering what you long-time collectors think of the rush to gold and silver right now. Lots of newbies like me interested as a way to hedge against what's coming. If you were me and wanted to buy physical, what do you think the best way to invest is? If it's rounds, stick with eagles? And should they be BU or does that even matter? Thanks in advance for your help.

[Gigantor]

For my money, always silver at lowest premium available. Assuming you're in the U.S., pre-'65 90% is my go-to. I'll spend a bit more on a solid 10oz bar over generic rounds.

[GedLee]

Originally Posted by Gigantor

For my money, always silver at lowest premium available. Assuming you're in the U.S., pre-'65 90% is my go-to. I'll spend a bit more on a solid 10oz bar over generic rounds.

Thanks for your advice. Truly appreciated. Can you help me understand more? Any suggested standard? Like US Mint vs non. BU vs non. And why pre-65? Thx.

[Gigantor]

Originally Posted by GedLee

Thanks for your advice. Truly appreciated. Can you help me understand more? Any suggested standard? Like US Mint vs non. BU vs non. And why pre-65? Thx.

US Mint, if you're looking for the cheapest entry point. Most pre-'65 US coinage is 90% silver. It's also called "Junk Silver". There is a lot of info out there, but here's a guide that's decent.

https://www.free-bullion-investment-...ing-guide.html

[GedLee]

Originally Posted by Gigantor

US Mint, if you're looking for the cheapest entry point. Most pre-'65 US coinage is 90% silver. It's also called "Junk Silver". There is a lot of info out there, but here's a guide that's decent.

https://www.free-bullion-investment-...ing-guide.html

Kind of you to give me that link. Thank you!

[smackvay]

right now premiums are high but if you are set on buying I saw pawn stars shop has 100 ounce bags of 1 ounce rounds for 1800 dlvd
you wont find silver cheaper than that anywhere right now

[GedLee]

Originally Posted by smackvay

right now premiums are high but if you are set on buying I saw pawn stars shop has 100 ounce bags of 1 ounce rounds for 1800 dlvd
you wont find silver cheaper than that anywhere right now

I'm seeing that. Thanks for the tip. Since it's private mint, is it as fungible as rounds minted at US mint (i.e. Eagle)? Meaning - in crisis, if silver is an accepted form of exchange/liquidity, will they hold up as a currency? I'm not trying to collect coins, I'm trying to prepare for dollar deflation and hyperinflation scenarios.

Thank you!

[Yankees28]

I’ve been considering the same thing. I collect sports cards but with all of the uncertainty I’ve been thinking about starting my own stack. From my own research I’ve learned that silver in terms of coins and bars are at outrageous premiums. The goal is to buy as close to spot as possible. I wasn’t really looking at junk silver but due to silvers big premiums I’ve been looking more into gold for now. After this craziness I’ll prolly get into silver bars once premiums come back down. That’s just my plan at the moment, but again....I’m a newbie like you. Lol

[twoten01]

Originally Posted by Yankees28

I’ve been considering the same thing. I collect sports cards but with all of the uncertainty I’ve been thinking about starting my own stack. From my own research I’ve learned that silver in terms of coins and bars are at outrageous premiums. The goal is to buy as close to spot as possible. I wasn’t really looking at junk silver but due to silvers big premiums I’ve been looking more into gold for now. After this craziness I’ll prolly get into silver bars once premiums come back down. That’s just my plan at the moment, but again....I’m a newbie like you. Lol

You should continue looking into Gold, I've been saying it on here and multiple precious metals sites for a few years now, that Gold is a precious metal and silver while classified as a PM is more and more becoming looked as a Industrial metal. Since back when the GSR was 80 to 1 if not lower and kept going up now it's almost 111 to 1. I've been buying metals for over 20 years now and this is the most heavily weighted towards Gold I've ever been. I've been buying at least one pre 33 gold coin every week(can still find some nice graded pieces that havent taken off like St Gaudens and general bullion have been lately).

If just getting into metals unless you can find Silver for less then $2.00 an oz over spot I personally wouldnt buy. When the economy bounces back and we recover from this and we will, premiums will drop down to next to nothing.


But my biggest piece of advice DON'T buy metals as an investment. They are horrible investments. PMs and especially Gold are a hedge against inflation, not an investment. Stack metals to protect yourself from a falling $ not to make more $.

[broadway6]

Originally Posted by twoten01

You should continue looking into Gold, I've been saying it on here and multiple precious metals sites for a few years now, that Gold is a precious metal and silver while classified as a PM is more and more becoming looked as a Industrial metal. Since back when the GSR was 80 to 1 if not lower and kept going up now it's almost 111 to 1. I've been buying metals for over 20 years now and this is the most heavily weighted towards Gold I've ever been. I've been buying at least one pre 33 gold coin every week(can still find some nice graded pieces that havent taken off like St Gaudens and general bullion have been lately).

If just getting into metals unless you can find Silver for less then $2.00 an oz over spot I personally wouldnt buy. When the economy bounces back and we recover from this and we will, premiums will drop down to next to nothing.


But my biggest piece of advice DON'T buy metals as an investment. They are horrible investments. PMs and especially Gold are a hedge against inflation, not an investment. Stack metals to protect yourself from a falling $ not to make more $.

Great advice here.

[Yankees28]

Thanks for the insightful response twoten. Just out of curiosity, has anyone ever dealt with golden eagle coins? Unfortunately I live in nj and they tax bullion. However they are one of the only online sellers that I can find that won’t tax me. I spoke to a representative on the phone that assured me I won’t be taxed, but has anyone heard of them or dealt with them before? Are they considered reputable?

[Wiseguy917]

Originally Posted by Yankees28

Thanks for the insightful response twoten. Just out of curiosity, has anyone ever dealt with golden eagle coins? Unfortunately I live in nj and they tax bullion. However they are one of the only online sellers that I can find that won’t tax me. I spoke to a representative on the phone that assured me I won’t be taxed, but has anyone heard of them or dealt with them before? Are they considered reputable?

Do you have any local shops around you? I’m from NJ and you’ll never be charged tax at any of the local dealers as long as you pay cash

[Yankees28]

Originally Posted by Wiseguy917

Do you have any local shops around you? I’m from NJ and you’ll never be charged tax at any of the local dealers as long as you pay cash

Honestly I’m not sure. I live in Gloucester County and I’d love to find a local shop. Unfortunately everything is still closed so local shops don’t really help at the moment. But it would be nice to find one moving forward.

[Snider fan]

I collect pre 65 half dollars, quarters, and dimes. AKA junk silver.

[BLatham10]

After collecting Cards for years and hot wheels over the last year, I needed to dabble into something else. It silver. I'm new to it and just received my first few rounds in the mail. I'm still learning the terms. What does "generic round mean"? When I hear the word generic I think fake or less silver content?

[mwheeler27]

I’m buying some gold and silver stocks right now. I believe I will see up to 10x gains over the next 3 years or so. The governments of the world are printing money, (and will continue to do so), like never before.

[GedLee]

Originally Posted by mwheeler27

I’m buying some gold and silver stocks right now. I believe I will see up to 10x gains over the next 3 years or so. The governments of the world are printing money, (and will continue to do so), like never before.

"Stocks" - Paper or physical? Or are you talking miners?

[mwheeler27]

Originally Posted by GedLee

"Stocks" - Paper or physical? Or are you talking miners?

Miners.

Think about how cheap their fuel costs are right now? As gold and silver prices climb, they make bigger and bigger profits. The time is now to invest in miners, if we can find the right ones.

I’m looking for the ones that have large metal reserves still in the ground.

[IndySportsCards]

Originally Posted by mwheeler27

I’m buying some gold and silver stocks right now. I believe I will see up to 10x gains over the next 3 years or so. The governments of the world are printing money, (and will continue to do so), like never before.

Physical Silver and Gold are the best investments you can make right now. The US Fiat Dollar is dead. A reset is coming, and Gold and Silver will see an increase now that the bankers can not manipulate the market.

Just my opinion, but I'm buying both and sticking it away for the future.

[cardsforever]

I am usually on the card/autograph side, so this is my first post here.

I love silver, but I don't follow it.

Once or twice a month, I would buy anywhere from an ounce to a 5 oz silver bar. I also collect the various (not all) commemorative coins from the US Mint, haven't much this year, as the Mint's offering have soured on me.

Anyway, I haven't purchased any silver in a few months, and went to buy some this month and just observed the rise of the price of silver.

Seems to be holding steady at around $27.00/OZ.

[goodole13]

Originally Posted by cardsforever

I am usually on the card/autograph side, so this is my first post here.

I love silver, but I don't follow it.

Once or twice a month, I would buy anywhere from an ounce to a 5 oz silver bar. I also collect the various (not all) commemorative coins from the US Mint, haven't much this year, as the Mint's offering have soured on me.

Anyway, I haven't purchased any silver in a few months, and went to buy some this month and just observed the rise of the price of silver.

Seems to be holding steady at around $27.00/OZ.

You jinxed it...

[nabzy28]

Originally Posted by BLatham10

After collecting Cards for years and hot wheels over the last year, I needed to dabble into something else. It silver. I'm new to it and just received my first few rounds in the mail. I'm still learning the terms. What does "generic round mean"? When I hear the word generic I think fake or less silver content?

Generic just means it isn't a gov't issued coin. There are plenty of reputable mints that make their own silver coins/bars, and they're classified as 'generic', but still .999 silver. You'll pay lower premiums on 'generic', for the most part, unless it's specialty type stuff.

[BLatham10]

Originally Posted by nabzy28

Generic just means it isn't a gov't issued coin. There are plenty of reputable mints that make their own silver coins/bars, and they're classified as 'generic', but still .999 silver. You'll pay lower premiums on 'generic', for the most part, unless it's specialty type stuff.

Thank you for that info.

[Incarnadine]

I'm surprised nobody has posted in this thread lately, especially with silver finally making some big moves.

As recently as March 19 silver hit a low of $12.12 an ounce, but since then has been climbing, somewhat erratically at times. Kin of like 2 steps forward, 1 step back for months, but the last 2 days it's really been moving, up nearly $2.50 an ounce. It's already up $0.56 an ounce since the markets opened again and topped $22 an ounce ($22.08), so nearly $10 an ounce in just 4 months.

Gold has been more steady, slowly gaining from the start of the year where it was $1528 an ounce to it's current $1850 an ounce. Very good, but not as spectacular as silver's recent run.

I'm glad I held on to my stack and added when I could.

[smackvay]

i have NEVER seen it go like this but i like it

Mike