Precious metals market | TigerDroppings.com
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kjacksonp
South Alabama Fan
Mobile, AL
Member since Dec 2006
971 posts

Precious metals market

With the dollar up in value gold and silver have fallen. They seem to keep bouncing off of about the same resistance (high 1200's for gold, around 20+ for silver).

For those who are interested in buying either gold or silver for "safety" against fiat money inflation or hyperinflation, is this a good time to buy?




Dooshay
LSU Fan
CEBA
Member since Jun 2011
29573 posts

re: Precious metals market
with the upswing of the current market you may want to keep watching until at least after the holiday season.


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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1663 posts

re: Precious metals market
I do not intend to buy any gold or silver but I do plan to rake through some half dollars from the bank for a few weeks. I haven't combed through a box of half dollars in a few months and I want to dust off my coin collection, as well as add some silver to it.


TheIndulger
LSU Fan
Member since Sep 2011
13045 posts
Online

re: Precious metals market
Are you talking about getting half dollars from the bank, then looking for silver ones? What year are the silver ones from?


RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1663 posts

re: Precious metals market
Yes, I will order a box of halves and comb through them (coin roll hunting) looking for silver pieces. A quick google search will give you all of the information you could ever want or ask for about silver half dollars. Pretty much anything before 1970 or 1971 contains at least ~40% silver. Halves before 1965 are ~90% silver. You can tell which ones are silver and which are not just be looking at the rim of the coin next to a half dollar that is not silver.

The process is pretty time consuming and the bank tellers will give you the stink eye each time you bring a box back to deposit. I had some good success for a few months when I did it and collected an assortment of silver pieces. I wouldn't make a full time hobby out of it by any means though.


Reubaltaich
USA Fan
A nation under duress
Member since Jun 2006
2974 posts

re: Precious metals market
I usually buy some silver every year, more for the numismatic purposes. I just think silver coins are so purty.

I don't make OT type $$$ so gold is out of the question for me.

I am in a 'hold' position right now on silver. If silver drops below $18/oz, I will buy buy a few rolls Silver Eagles.

Just a disclaimer, I am no PM expert so take it for what its worth.


RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1663 posts

re: Precious metals market
quote:

I usually buy some silver every year, more for the numismatic purposes. I just think silver coins are so purty.


I'm in an agreement with you there. I do not have a permanent residence which is the main reason I only pick through half dollar rolls every so often. Carrying and storing my coin collection as it stands now is enough overhead for me each time I move. Although secretly, I would love a treasure chest full of silver and gold
This post was edited on 11/13 at 8:57 pm


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TheIndulger
LSU Fan
Member since Sep 2011
13045 posts
Online

re: Precious metals market
quote:

I am in a 'hold' position right now on silver


May I ask why?


Reubaltaich
USA Fan
A nation under duress
Member since Jun 2006
2974 posts

re: Precious metals market
quote:

May I ask why?


I think silver is still way over priced, as of Nov 14, 2013, silver is around $20.50/oz.

Remember just a year or so, it was around $35/oz

I am thinking once silver gets to under $18-19, I will consider buying but I am really holding for when it goes to $17/oz. Its not a do or die situation for me, so no biggie.

I usually run accross some deals every now & then with some dimes, halfs & Morgans and Peace dollars. So I will take dive then.



Crawdaddy
LSU Fan
Slidell
Member since Sep 2006
13082 posts

re: Precious metals market
Silver at $20 is not a bad buy. Lowest it has been for some time. Yes It USED to be lower but so was everything else in life.
Christmas has my money tied up right now but soon after I will be buying a little more Silver to add to the stack

I always wanted to try the ole coin hunting from my credit union. Buying a box of $500 Halfs and sorting through them sounds fun. I always check my quarters when I get change. Old habit.
My wedding ring I made out if a silver quarter.


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Meauxjeaux
Memphis Fan
90248 posts including my alters
Member since Jun 2005
18917 posts

re: Precious metals market
Prices will upswing right after I sell the stuff I bought last September.


ThatsAFactJack
Broussard
Member since Sep 2012
588 posts

re: Precious metals market
quote:

Meauxjeaux
quote:

Prices will upswing right after I sell the stuff I bought last September.


Why are you selling? Most people buy and hold physical gold and silver. I may be interested in buyiing if you can email me coincollections@hotmail.com


Crawdaddy
LSU Fan
Slidell
Member since Sep 2006
13082 posts

re: Precious metals market
Silver is down below $20

Some are predicting $15 by year end. Some forums talk is back to below $10

Seems there are the hard core folks that believe PMs will save you
Then there are the ones saying the bottom will fall out soon and stay that way for some time.

I'll hope the middle road and may buy some this week

LINK
This post was edited on 11/20 at 6:19 pm


jmarto1
LSU Fan
Houma, LA
Member since Mar 2008
15885 posts

re: Precious metals market
Where do you guys recommend buying some silver bars from? I thought about buying $100 worth each month or so and storing away.


Crawdaddy
LSU Fan
Slidell
Member since Sep 2006
13082 posts

re: Precious metals market
local coin shops should sell them.
I like online. Apmex, Silvertowne, Providentmetals are good sites that sell rounds, bars, and everything else


jmarto1
LSU Fan
Houma, LA
Member since Mar 2008
15885 posts

re: Precious metals market
I saw a few of the ones online. I'll check those out. Any benefit to buying in different forms such as bouillon, bars, or shot?


Crawdaddy
LSU Fan
Slidell
Member since Sep 2006
13082 posts

re: Precious metals market
Private mint coins and bars are cheaper. Silver is silver
Fed made coins cost a little more but they are real money if that matters

Stick with coins and bars or 90% silver coins if the price is right.
I like 1oz coins because they stack better in tubes. Pretty simple

Go browse a site such as APMEX under silver.


Crawdaddy
LSU Fan
Slidell
Member since Sep 2006
13082 posts

re: Precious metals market
Private mint coins and bars are cheaper. Silver is silver
Fed made coins cost a little more but they are real money if that matters

Stick with coins and bars or 90% silver coins if the price is right.
I like 1oz coins because they stack better in tubes. Pretty simple

Go browse a site such as APMEX under silver.


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jmarto1
LSU Fan
Houma, LA
Member since Mar 2008
15885 posts

re: Precious metals market
I was going to do some bars. I have a good bit of coins that I buy from work when something pre-1965 rolls through. Thanks for the advice.


ThatsAFactJack
Broussard
Member since Sep 2012
588 posts

re: Precious metals market
My LCS is my main supplier. They don't charge tax if you pay cash and are usually about the same price as online. Just picked up a 10oz NTR sealed bar for $220.

I will be picking up alot more silver when the christmas bonus comes in.


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