Confused on silver :/

[Wickaboag]

So I know this forum is full of silver bulls, and I most of the time agreed but this trend in silver dropping so much (although it slowed recently) is getting me thinkin it's either time to buy or time to hold on to what I got and wait and see..
I'm debating going to the LCS and buying 250 silver dimes or something like that...
I'm 16 and have been collecting and stacking for 3 years slowly with what funds I make.
Appreciate advice or comments!
Wicka

Edit**
I don't mind buying it and sittin on it until it Rises- I guess being 16 I got the time to wait out the dip.
What's the best kind of silver to buy?
Coin wise that is, dollar coins always have a premium and halfs and lower are what I'm interested in!
Any tips again apprecaited

 

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[cyberdan]

That is a good question that I can not answer. I came on line to ask a simular type question.

 

[Wickaboag]

That is a good question that I can not answer. I came on line to ask a simular type question.

I always see people talking about future of silver. And everyone says "I'm spending every dollar on silver"
But Im 16 I don't think I have the same type of funds.
Have a good one Dan!

 

[cyberdan]

you have started at a good age. Just keep plugging away. buy the time you have a family and house you will have a pile. You will also have a career. that is when you should spend every $ on silver. Oh, I forgot a wife and kids will spend every $$. So, no problem get a good career you are at that age to travel any direction you want.

My daughter just graduated from a 4 year college and is heading off to a two year one. She has been following her path of education since she was 16 and has not wavered.

 

[elijahhenry10]

I also am 16. Do you belong to Cointalk? I thought I saw you post there before.

A man at a coin store once told me that if you want silver as an investment, the best kind to buy is .999 silver bars, rounds, etc. He said that the best to buy was ASEs, but the premiums can sometimes cause you to stay away from them. I have always bought 90%, just because I like having the history also, but that is just me.

 

[FreedomUIC]

I also am 16. Do you belong to Cointalk? I thought I saw you post there before.

A man at a coin store once told me that if you want silver as an investment, the best kind to buy is .999 silver bars, rounds, etc. He said that the best to buy was ASEs, but the premiums can sometimes cause you to stay away from them. I have always bought 90%, just because I like having the history also, but that is just me.

Maples are just as good as Eagles.

 

[Wickaboag]

Maples are just as good as Eagles.

Not to interested in ASE or maples
Kinda looking for 90% pre 64 coinage I think.

 

[jim4silver]

If you want 90% silver and can get halves for the same price as quarters and dimes, that's what I would get (assuming they are not worn down). Many people I believe make the mistake of buying old worn down barbers and walkers (and older Franklins) thinking they have numismatic value, which they don't (unless a rare year). Yes, there may someone out there willing to pay more for them occasionally, but if you ever go to sell to a coin store they will not pay any premium if the coins are highly worn.

Further, I predict at some time in the future if/when silver is up much higher, there will be an industry shift where junk silver will start to be bought/sold by weight and not by face value. Using face value benefits whomever is selling the metal because most of what is out there being sold as "circulated" junk is less than .715 oz per $1 face (from what I have seen), which is the industry standard to account for some wear and tear on the coins (they are .723 oz per $1 face when they leave the mint brand new). When I get 90% I only buy stuff that shows little wear if I can get it at the regular price (no extra premium because it is in nicer shape)

But know that right now you will be paying far more in premiums for any type of 90% as compared to generic rounds/bars generally speaking. In the last bull run for silver in the early 80's, junk silver took a big hit compared to .999 as the price shot up because the refiners were too overstocked and weren't paying as much for it compared to .999, at least this is what I have read and been told by a coin dealer who was in the business back then.

Just my opinion.

Jim

 

[Wickaboag]

Incase anyone cares:

I'm going to buy 50-100$ face value in silver.
Going to wait until tomorrow or Friday to purchase. That way I can see how today and tonight go for the market and can read some articles.
Wicka

 

[Marchas45]

I'm usually a 90% Stacker but the gift we are being given right now in the prices makes me want to stack as much oz's of silver as I can, so I'm stacking up on 1 oz bars and rounds as fast as I can. As Jim say's if they start weighing by value the the 90% will loose it's value by silver content but for now they will be very handy if TSHTF..

 

[CoinFetcher]

Of you have 50 or more of silver dime, and the rest in 1 or 5 or 10 oz generic bars, you always just make change with a silver dime, and then buy your new mule with the bars.

So, again, I repeate, you only need as many silver dimes as you think you'll need for change. Ie, a small purchase with bullion. SOmeone will be able to break up a bar if they want to get paid

 

[Wilmingtonsilver]

CF, I think half of your message got lost somewhere.

 

[mercury1]

Hey Wicka, I haven't checked on availability lately but 10 oz bars are nice if you can find them. You can get 90 % coins from roll hunting. If you are going to buy coins though, consider 64 halves. They usually don't have much wear and are great for stacking. Think about handling 10 rolls of silver halves, verses 20 rolls of dimes. Much nicer IMHO. HH

 

[Eminem]

Hey Wicka, I haven't checked on availability lately but 10 oz bars are nice if you can find them. You can get 90 % coins from roll hunting. If you are going to buy coins though, consider 64 halves. They usually don't have much wear and are great for stacking. Think about handling 10 rolls of silver halves, verses 20 rolls of dimes. Much nicer IMHO. HH

This guy knows wassup

 

[deerflyguy]

I think it all depends on the reason you are making the silver purchase.

If you think the world is going along just fine, and that silver will eventually rise back to previous highs, and even higher, and that you intend to sell your silver for profit, if, and when that happens, then you should buy silver at the lowest mark up cost, over spot price, that you can possibly find. Usually, that will be silver rounds or bars.

If, however, you are thinking that world currencies (including the US dollar) will eventually collapse, and that hard valuable metals will become the preferred method of barter, then I suggest that you consider "junk silver" coinage - specifically US 90% silver, in the smallest coins (dimes, if possible) that you can obtain. They will be easier to spend if you have to use them, than the higher denominations. For example: If a single dime (now worth about $1.65 each, for it's silver content alone) becomes valued at say 50:1, then it will be worth $5.00; a quarter will be worth $12.50; a half $25.00, and a silver dollar, at least $50.00! Liken the necessity of being able to find someone who can change your silver coins, to the same problems we sometimes have today making change for large bills! Also, using US silver coins for barter will be quite easy to do, as the coinage is well known to the population, and will be quickly accepted for payment.

Small US coinage is not something lucrative to counterfeit, either! Our larger coins are already being counterfeited in China; the US silver eagles, Canadian silver maple leafs, and the US Morgan dollars being examples of same - and they look very convincing and are hard to spot fakes. Even bar silver and gold is being counterfeited these days!

If you invest in privately minted silver rounds, and bars, although they are the cheapest way to go, they will be very difficult to spend in an emergency, and the more they weigh, the harder they will be to break down and spend. If, for example, a Troy ounce of silver goes to $50, then a 10 Troy Ounce bar of silver will be worth $500! A 10 Troy ounce bar isn't very big, but it's value will make it so hard to pass, it almost might as well be worthless! Remember - the larger size, and lesser known (compared to US coinage) companies that cast them, will make them no less valuable, but much harder to pass to a cautious public.

Should you buy now? My thought is that one should buy when prices are low and sell when prices are high! A real profound statement, huh?

I've been buying all month, and have so far taken a real bath, but I intend to buy all I can at these prices today, because when it does go back up (and that is only a matter of time), the lower prices I'm paying today will offset the higher prices I have paid in the past. That means silver won't have to climb back to it's previous highs, for me to recover my loses, but I am in it for the long haul anyway, and do not intend to sell unless in an emergency.

Unlike gold, which is a reclaimable metal, silver is mostly consumed, and when used, most of it is gone forever. 90% of all the silver reserves has been used up, and given that the cost of mining new silver deposits is now higher than the spot price of silver, it doesn't pay for the mine owners to continue mining the metal. Even in backward countries like those of South America (where much of the world's largest silver deposits is known to exist), environmentalists, and corrupt government officials, have stymied production efforts, and some mines remain closed!

It's a crazy world we live in now! Nothing is certain, and logical thought is sometimes denied for unknown reason? Where does one invest his money these days? No one can really say, but i'm going along with logic, as eventually, logical thought should prevail! maybe that's why I'm not a rich man!

Good luck in your decision!

deerflyguy

"Never Underestimate The Power Of Stupid People In Large Numbers!"