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re: Investing in silver coins
Posted on 9/27/11 at 11:14 am to Crawdaddy
Posted on 9/27/11 at 11:14 am to Crawdaddy
Copper has dropped quite a bit since earlier this year. Nickels were about 7.4 cents which would have made your 10,000 nickel stash worth about $350 in the black.
The gov't is looking at eliminating the nickel metal in nickels in the future. I would still rather own junk silver coins over nickes and pre 1982 pennies due to the greater store of value per coin and much, much less space required to store them.
The gov't is looking at eliminating the nickel metal in nickels in the future. I would still rather own junk silver coins over nickes and pre 1982 pennies due to the greater store of value per coin and much, much less space required to store them.
2
Posted on 9/27/11 at 11:22 am to goodgrin
quote:
Nickels were about 7.4 cents which would have made your 10,000 nickel stash worth about $350 in the black.
yeah, that's where it was when I started looking into it.
Posted on 9/27/11 at 11:48 am to TheHiddenFlask
quote:
RSBR, KFizz, Lynx, and myself all took real jobs recently and it's really cut the quality of discussion here.
Posted on 9/27/11 at 12:03 pm to LSURussian
quote:
RSBR, KFizz, Lynx, and myself all took real jobs recently and it's really cut the quality of discussion here.
That's funny. I was thinking that based on the amount of time some of you spend on TD and the number of postings you have, I figure your jobs must either be boring and/or suck.
Posted on 9/27/11 at 12:18 pm to LSURussian
This is actually my second real job thankyouverymuch.
Posted on 9/27/11 at 12:20 pm to kfizzle85
Posted on 9/27/11 at 12:28 pm to goodgrin
quote:
I was thinking that based on the amount of time some of you spend on TD and the number of postings you have, I figure your jobs must either be boring and/or suck.
I have 5 minute spurts of down time that aren't long enough to start work on anything else. Overall, I'm very busy and the work is pretty interesting.
Posted on 9/27/11 at 12:38 pm to goodgrin
quote:
Nickels were about 7.4 cents which would have made your 10,000 nickel stash worth about $350 in the black.
Just curious, but where does one sell hundreds of pounds of nickels? What percentage of spot do you actually get?
For junk silver and gold, the percentage usually starts in the low 80s for reputable dealers. And with eBay's fee structure, that's about all you can expect there as well, except ISTR a $100 limit to their 9% FVR which may apply to coins. But then there's also PayPal, shipping, and insurance to think of.
Posted on 9/27/11 at 12:55 pm to TheHiddenFlask
Since I know I'm not going anywhere for 12 or 13 hrs once I get here, I work at my own pace. Which means I come dick around on here way too much. It'll catch up with me whenever my workload reaches normal capacity, which I was told will probably take about 2 months.
Posted on 9/27/11 at 1:32 pm to tims0912367
quote:
For junk silver and gold, the percentage usually starts in the low 80s for reputable dealers. And with eBay's fee structure, that's about all you can expect there as well, except ISTR a $100 limit to their 9% FVR which may apply to coins. But then there's also PayPal, shipping, and insurance to think of.
I think a key component of holding metals like silver is a hedge against fiat currency itself...so is reselling for USD really something you would do anytime soon?
Posted on 9/27/11 at 1:48 pm to LSUtoOmaha
quote:
I think a key component of holding metals like silver is a hedge against fiat currency itself...so is reselling for USD really something you would do anytime soon?
I would resist the temptation as much as possible. Once it's gone, it's gone, and it's hard to get back into it. I mean, the price has to go up like 20%-30% over what you paid before you see a profit. (Buy at a premium to spot, sell at a discount to spot.)
Posted on 9/27/11 at 1:52 pm to tims0912367
I understand what you are saying, but I would imagine that your cost per unit for selling decreases with volume. Perhaps it is best to purchase off of eBay at a high volume (letting the seller eat more of the transaction cost), and then waiting long-term and finding an alternative means for selling.
Posted on 9/27/11 at 2:05 pm to LSURussian
quote:
LSURussian
For clarification, the macro talk is still good, this board just lacks stock specific talk these days.
Also, sorry for leaving out Athanatos and LSUtoOmaha and anyone else from that group.
Posted on 9/27/11 at 2:24 pm to TheHiddenFlask
I'm in Kentucky for work this week, sporting my LSU gear. 
Posted on 9/27/11 at 3:51 pm to Tiger JJ
quote:
yeah, that's where it was when I started looking into it.
I'm about to look like a huge idiot here, but are you talking about any nickel, or nickels made before 1945 (Jeffersons)?
I don't see how a nickel could be worth 7.4 cents unless they were the ones with a heavier silver content.
By hoarding nickels, you are referring to the old ones, correct?
Posted on 9/27/11 at 4:11 pm to LSUtoOmaha
Current nickels.
Posted on 9/27/11 at 4:33 pm to Tiger JJ
So what would prevent me from going to the bank with a few grand and just buying a bunch of nickels? It seems like I'd rather have that if they are worth 7.4 cents.
Posted on 9/27/11 at 4:36 pm to LSUtoOmaha
quote:
So what would prevent me from going to the bank with a few grand and just buying a bunch of nickels?
Nothing. That is precisely what I'm talking about doing.
Posted on 9/27/11 at 4:43 pm to Tiger JJ
Oh, well keep me updated. I mean there's not really a downside risk besides inflation. After all, they'll still be a form of US currency at worst.
Posted on 9/27/11 at 4:45 pm to LSUtoOmaha
They'll just become like any coins that have been discontinued.
You should read Wooden Nickels. It's amazing how many stupid silver policies were enacted over the years by our government.
You should read Wooden Nickels. It's amazing how many stupid silver policies were enacted over the years by our government.
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