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Started By
Message
re: Buying Gold & Silver coins and bars.
Posted on 1/26/15 at 9:30 pm to offshoretrash
Posted on 1/26/15 at 9:30 pm to offshoretrash
quote:
How would go about selling silver or gold coins and can you get market value for them. Say you bought at $18 an ounce and silver went up to $25 oz. How much are you going get an ounce when you sell?
Who is going to buy it?
As golfer stated you can re-sell to whom you bought it or other dealer. Most cities have some type of bullion dealer often pawn shops or jewelers also dabble in the bullion business. Quite a few of the "We Buy Gold and Silver" stores that sprang up when gold peaked are still open. Check your local yellow pages or google for bullion dealers.
1
Posted on 1/26/15 at 9:57 pm to cave canem
Shop around to buy or sell. There are some low-ballers out there who will screw you either buying or selling.
Pawn Shops are notoriously bad as a general rule for bullion transactions.
Pawn Shops are notoriously bad as a general rule for bullion transactions.
Posted on 1/27/15 at 7:56 am to Volvagia
quote:
I'm not talking about spot prices. I'm talking about the preference for some to have officially minted coins because they have denominations. To me that is a deterrent because of some ignorant seller in a bargaining scenario taking THAT number as the value.
I'm not sure how you would overcome the ignorant seller argument? I have a specific dated list of items in my safety deposit boxes which relay's numismatic value of my old coins. That's about all I can do people really don't need to know what I have in there especially family, they just need to know I have something and where it is in case I expire.
quote:
For instance, the 1 oz gold coin (current spot ~1200) is listed as 50 dollars
[quote]For instance, the 1 oz gold coin (current spot ~1200) is listed as 50 dollars
Platinum, is about that price but listed as 100 dollars.
It seems to be a risky proposition to have us mint coinage for that reason if you are keeping a small cache in a "economic meltdown scenario."
President Franklin Delano Roosevelt faced unprecedented challenges in the 1930s as the country wallowed in the Great Depression. In 1933 he issued Executive Order 6102 to confiscate publicly held gold bullion to shore up the dollar, which was then under the gold standard. One of the major exceptions to Executive Order 6102 is given in Section 2B: “gold coins having recognized value to collectors of rare and unusual coins.”
quote:
Suppose it depends on the level of melt you expect. If it is just hyperinflation but still an active system it works well. If there is no fiat currency to exchange it with though....
You may be right 100% but I plan on having some gold and silver on hand just in case.
Posted on 3/6/15 at 6:52 pm to DawgSmoke
As of March 6, silver finished at $15.96/oz.
Gold is down $1,168.87/oz
Still a lot of room for gold to go before it hits reasonable prices.
Silver could break the $14/oz barrier before the end of March.
Gold is down $1,168.87/oz
Still a lot of room for gold to go before it hits reasonable prices.
Silver could break the $14/oz barrier before the end of March.
Posted on 3/31/15 at 6:51 pm to Reubaltaich
Silver & gold get little bounce for the month of March, possibly due to the turmoil in Yemen and that PM options were due in March.
Silver finishes at $16.69/oz for the month of March
Gold finishes March at $1,184.14/oz
Silver finishes at $16.69/oz for the month of March
Gold finishes March at $1,184.14/oz
Posted on 4/1/15 at 7:29 am to Reubaltaich
I think silver presents a long term buying opportunity at current levels. I don't know how long, because I don't know when the Fed intervenes again.
I also think palladium is undervalued given the supply/demand situation that has been present for quite some time now. Very sensitive to car sales however. I don't take physical possession of palladium, just buy the miners. Although I'd be interested if anyone actually takes possession of the platinums.
I also think palladium is undervalued given the supply/demand situation that has been present for quite some time now. Very sensitive to car sales however. I don't take physical possession of palladium, just buy the miners. Although I'd be interested if anyone actually takes possession of the platinums.
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