Coins/ Silver question

barrysloate · #1 09-30-2011, 05:09 PM

People buy, sell, and hold onto these coins purely for their silver content. Virtually none of them has numismatic value. Silver has been over $40 an ounce quite a bit lately, and that is the highest it's been in about 30 years. A year ago it was like $17 an ounce. It closed today at $29.97. I can tell you that on Monday it will either go up or down. I just don't know which one.

Precious metals are often a haven during turbulent times, and things sure are rocky today. So there is a reason to think it may go up again.

z28jd · #2 09-30-2011, 05:16 PM

Good stuff Barry, thanks. Now just make sure you email me when silver is back near $40 an ounce

basesareempty · #3 09-30-2011, 05:53 PM

I follow this market a little more closely then some here. I have slowly bought silver over the last 3 years or so and have about 350 oz of silver bullion and another $400 of 90% junk silver. Late last week Silver went from just under $40/oz to where it ended today at just under $30. At some point I believe one of the overseas markets the price was down to $26/oz before rebounding. I know many experts say that silver will hit $50/oz by early next year. China and India have been stong buyers of precious metals which should keep prices going up. Also the industrial demand for silver is on the rise. I see this 25% downswing as a buying opportunity. I would hold on to your silver if I were you.

z28jd · #4 09-30-2011, 06:09 PM

Quote:

Originally Posted by basesareempty

I follow this market a little more closely then some here. I have slowly bought silver over the last 3 years or so and have about 350 oz of silver bullion and another $400 of 90% junk silver. Late last week Silver went from just under $40/oz to where it ended today at just under $30. At some point I believe one of the overseas markets the price was down to $26/oz before rebounding. I know many experts say that silver will hit $50/oz by early next year. China and India have been stong buyers of precious metals which should keep prices going up. Also the industrial demand for silver is on the rise. I see this 25% downswing as a buying opportunity. I would hold on to your silver if I were you.

Thanks, I guess I will keep them for now but if I see the price go anywhere near $50 an ounce then I would have to sell. I guess I should start following the price of silver.

barrysloate · #5 09-30-2011, 06:10 PM

Bob- do you feel the same way about gold? It's taken quite a hit lately.

basesareempty · #6 09-30-2011, 06:20 PM

Barry- Since most of my purchases are small ( Usually under $400 at a time) I do not follow that as closely but I believe the so called "experts" are bullish on gold for many of the same reasons as silver, with many saying that $2000 gold is not out of the question.

Tsaiko · #7 09-30-2011, 07:48 PM

Here's an easy way to keep track of precious metal prices.
http://www.monex.com/liveprices

Silver spiked to over $48 an ounce in April, then this happened:
http://dont-tread-on.me/rumor-no-for...-silver-in-us/

That was the highest price since 1980, when the Hunt brothers tried to corner the market and the price actually hit over $50 for a few minutes.

In the early 90's I bought a lot of silver in the three to six dollar range and thought that I would make a quick buck, but it was stuck in that range for over a decade. I had my chance to pull the rigger this year, but let the opportunity slip away thinking that $50 was he magic number. Oh well, maybe next year.

My grandfather gave me a silver dollar for each birthday until I was 18. Most are dated around 1903, so he must have kept them for a while himself, which makes them as hard to get rid of as my grandmother's cards. I have no idea how much they are worth.

z28jd · #8 09-30-2011, 08:28 PM

Thanks for that link. I see it also has the 90% and 40% coin prices which is good because the collection also had 141 of the 40% Kennedy half dollars. For once I'd like to sell high on something and buy low on something else, especially since I don't really collect coins, I basically just have a collection of pennies missing just that key 1909 s vdb and some odds and ends that I liked such as 2 and 3 cent pieces.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
1980 Test Coins	ALR-bishop	Postwar Baseball Cards Forum (Pre-1980)	6	07-16-2009 05:38 PM
PAYING $50 for old Price Guide with 1972 Sunoco Coins info	Archive	Baseball Memorabilia B/S/T	0	04-20-2009 06:15 PM
1955 Armour Coins	Archive	Postwar Baseball Cards Forum (Pre-1980)	1	06-12-2008 02:18 PM
gold or silver armour coins 1955	Archive	Postwar Baseball Cards Forum (Pre-1980)	0	01-24-2008 10:09 AM
Waaayy OT...anyone on here collect ancient coins?	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	10	03-22-2007 05:53 AM