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Re: Buying Silver, what should I know?
[Re: Sniper.270]
#8058669
11/21/20 02:53 PM
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Joined: Nov 2017
Posts: 19,129
Biscuit
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Prices are somewhat high now....I personally would not be buying. If I were buying I would buy common or junk pre 64 U.S. coins or new Silver Eagles....easier to sell if you need to. I would avoid buying so called collectable coins....easy to over pay for mis-graded coins. Prices are high right now. The pre 64 coins are a good option if you are going to hold, or collect coins. Depends on what your goal is in silver. Silver Eagles are always safe. I don’t collect them, but many people do and you can always move them. The collectible coins I would agree with, stay away from those. But there are some series which are good. I have an Egyptian series that is crazy good. But that’s really not collectibles. You can get some good themed/series coins which have better than average value. Agree silver eagles always move
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Re: Buying Silver, what should I know?
[Re: glens]
#8058727
11/21/20 03:31 PM
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Joined: Mar 2005
Posts: 3,261
Sniper.270
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Have a Crown Royal bag full of Peace and Morgan Silver Dollars Wifey inheirted years ago. A few pounds worth. Grandaughter will get um when it's time. This is not a critique, but if stored that way where they touch metal to metal, it will tremendously devalue them. If they are in individual plastic packages, then it’s good to go.
Proverbs 2
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Re: Buying Silver, what should I know?
[Re: BearkatHunter2011]
#8058810
11/21/20 04:41 PM
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Joined: Aug 2005
Posts: 20,903
Sniper John
gumshoe
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gumshoe
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Posts: 20,903 |
I recommend educating yourself on spotting fakes. Google and YouTube is your friend there.. Two of the four pictured are fake. One I am sure the seller knew it and immediately refunded me. The other was mixed in some real ones and I doubt the seller knew. It even got by me for a couple months. The Chinese have flooded the US with fake silver eagles and morgans. A high percentage of those sold on eBay are fake. Starting out stick with places like apmex, jm bullion, and texmetals. Or individuals you know and trust.
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Re: Buying Silver, what should I know?
[Re: Sniper John]
#8058831
11/21/20 04:56 PM
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Joined: Sep 2004
Posts: 12,370
RedRanger
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I recommend educating yourself on spotting fakes. Google and YouTube is your friend there.. Two of the four pictured are fake. One I am sure the seller knew it and immediately refunded me. The other was mixed in some real ones and I doubt the seller knew. It even got by me for a couple months. The Chinese have flooded the US with fake silver eagles and morgans. A high percentage of those sold on eBay are fake. Starting out stick with places like apmex, jm bullion, and texmetals. Or individuals you know and trust. Yep I have heard that Even the graded ones are now faked.
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Re: Buying Silver, what should I know?
[Re: Sniper John]
#8058947
11/21/20 06:14 PM
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Joined: Jul 2009
Posts: 9,763
Tin Head
THF Trophy Hunter
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I recommend educating yourself on spotting fakes. Google and YouTube is your friend there.. Two of the four pictured are fake. One I am sure the seller knew it and immediately refunded me. The other was mixed in some real ones and I doubt the seller knew. It even got by me for a couple months. The Chinese have flooded the US with fake silver eagles and morgans. A high percentage of those sold on eBay are fake. Starting out stick with places like apmex, jm bullion, and texmetals. Or individuals you know and trust. which two are fake? The ones with the most detail?
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Re: Buying Silver, what should I know?
[Re: Tin Head]
#8058955
11/21/20 06:19 PM
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Joined: Oct 2008
Posts: 15,128
Tbar
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which two are fake? The ones with the most detail? Top left and bottom right maybe.....
Make America Great Again
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Re: Buying Silver, what should I know?
[Re: BearkatHunter2011]
#8058977
11/21/20 06:37 PM
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Joined: Aug 2005
Posts: 20,903
Sniper John
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gumshoe
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Posts: 20,903 |
Top Two. Both thud with no ping when dropped. Also, one is off in dimensions, one is off in weight. One has the wrong font or size for date. One or both, can't remember did not show to be diamagnetic to a rare earth magnet.
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Re: Buying Silver, what should I know?
[Re: BearkatHunter2011]
#8059092
11/21/20 08:05 PM
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Joined: Jun 2006
Posts: 8,256
Dave Davidson
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I still have my coin collection from the late 1950's. No idea what to do with it. I don't want to mess with trying to grade them or find out which ones might be more collectible. And, I don't know of anyone reliable enough to grade them got me. I have rolls of dimes and quarters, pennies, etc.
Conundrum: I don't need the coins or the money they would bring.
Without a sense of urgency, nothing ever happens.
Boy, if I say "sic em", you'd better look for something to bite. Sam Shelley, Rancher Muleshoe Texas 1892-1985 RIP
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Re: Buying Silver, what should I know?
[Re: Sniper.270]
#8059100
11/21/20 08:12 PM
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Joined: Feb 2008
Posts: 14,098
glens
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Have a Crown Royal bag full of Peace and Morgan Silver Dollars Wifey inheirted years ago. A few pounds worth. Grandaughter will get um when it's time. This is not a critique, but if stored that way where they touch metal to metal, it will tremendously devalue them. If they are in individual plastic packages, then it’s good to go. These have been in the Family since the 50's and 60's. Thank's for the tip and will let the grandaughter know about it when I give um to Her in about 10 or 15 years. Give um to her now and the Little Barrel Racer will buy something for Her Horses.
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Re: Buying Silver, what should I know?
[Re: Dave Davidson]
#8059115
11/21/20 08:24 PM
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Joined: Apr 2009
Posts: 10,098
texasag93
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I still have my coin collection from the late 1950's. No idea what to do with it. I don't want to mess with trying to grade them or find out which ones might be more collectible. And, I don't know of anyone reliable enough to grade them got me. I have rolls of dimes and quarters, pennies, etc.
Conundrum: I don't need the coins or the money they would bring. Story time with the grandkids about them. The kid(s) who like it and pay attention can get the bug to collect. My grandfather did that with me. I collected in the late 70s to mid 80s. My dad has his father's coins. I will get them eventually. I hope a long time from now.
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Re: Buying Silver, what should I know?
[Re: Dave Davidson]
#8059168
11/21/20 09:13 PM
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Joined: Oct 2008
Posts: 15,128
Tbar
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I still have my coin collection from the late 1950's. No idea what to do with it. I don't want to mess with trying to grade them or find out which ones might be more collectible. And, I don't know of anyone reliable enough to grade them got me. I have rolls of dimes and quarters, pennies, etc.
Conundrum: I don't need the coins or the money they would bring. Might touch base with the OP........
Make America Great Again
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Re: Buying Silver, what should I know?
[Re: BearkatHunter2011]
#8059185
11/21/20 09:40 PM
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Joined: Jan 2007
Posts: 1,802
MO
Pro Tracker
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Pro Tracker
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I bought a good bit from Apmex last year. Mostly silver eagles. Back when spot was 14 to 17, should have sold when it reached 29 a While back. If it gets over 30 , I am selling.
Mo
MY BACKYARD , 20,000 ACRES , NO MOWING
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Re: Buying Silver, what should I know?
[Re: Sniper John]
#8059490
11/22/20 02:39 AM
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Joined: Sep 2018
Posts: 1,044
Old Shakie
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Posts: 1,044 |
Very interesting.....thanks for posting!
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Re: Buying Silver, what should I know?
[Re: BearkatHunter2011]
#8059841
11/22/20 03:08 PM
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Joined: Nov 2017
Posts: 19,129
Biscuit
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Re: Buying Silver, what should I know?
[Re: RedRanger]
#8060846
11/23/20 04:28 AM
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Joined: Jul 2005
Posts: 3,304
Stump_jumper
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I always confer with the Hunt Brothers when trying to corner the silver market. I had a boss that was dealing silver dollars back then. He would use us as couriers at times on business trips. I will never forget going through security at O'Hare when the lady at the xray machine blurted out loudly "holy [censored] look at all those coins". I told my co-worker to get the [censored] moving.
2017 Tundra 5.7 CM 4x4 2006 Champion 2200 Bay Boat
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Re: Buying Silver, what should I know?
[Re: Stump_jumper]
#8060884
11/23/20 04:58 AM
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Joined: Jan 2012
Posts: 29,105
TXHOGSLAYER
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O I always confer with the Hunt Brothers when trying to corner the silver market. I had a boss that was dealing silver dollars back then. He would use us as couriers at times on business trips. I will never forget going through security at O'Hare when the lady at the xray machine blurted out loudly "holy [censored] look at all those coins". I told my co-worker to get the [censored] moving. I brought back 200 ounces in my backpack on an airplane and had a few questions to answer.
LETS GO BRANDON
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Re: Buying Silver, what should I know?
[Re: postoak]
#8061164
11/23/20 02:52 PM
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Joined: Dec 2013
Posts: 101
Zipster
Woodsman
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Woodsman
Joined: Dec 2013
Posts: 101 |
Try to buy maple leafs or Morgans if possible. Generic rounds are harder to prove they are real. Also watch the spot price. You will pay spot on top of the going rate. Ex: if market is 23.00 ounce and Spot is 2.00 bucks, you will pay 25.00 per ounce. Spot can flux with the seller so shop around. What's the difference between market price and spot price? I mis-spoke. Spot is market price, but the seller usually charges a "fee" in addition to spot.
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Re: Buying Silver, what should I know?
[Re: Zipster]
#8061224
11/23/20 03:21 PM
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Joined: Aug 2009
Posts: 3,124
postoak
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Try to buy maple leafs or Morgans if possible. Generic rounds are harder to prove they are real. Also watch the spot price. You will pay spot on top of the going rate. Ex: if market is 23.00 ounce and Spot is 2.00 bucks, you will pay 25.00 per ounce. Spot can flux with the seller so shop around. What's the difference between market price and spot price? I mis-spoke. Spot is market price, but the seller usually charges a "fee" in addition to spot. Thanks, that matches my understanding of things.
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