First silver i ever bought was at $7 an ozAnd many of us did. And bought stocks too.
First silver i ever bought was at $7 an ozAnd many of us did. And bought stocks too.
I agree with you that buying PM's is for the long term, same with stocks. Gold and silver bullion is generally .999 fine. Pre 64 silver coins are 90% silver. Of course buyers take that in to account when you sell. Many people do melt their silver coins and pour in to bars, but generally if a silver bar doesn't have a recognized hallmark it'll be difficult to sell without first being assayed.I don't like buying coinage as it is alloyed. Gold and silver are too soft by themselves so they add copper and silver to gold and copper to silver. If I could get silver coins at a good price I would just to melt them down. They will always hold value but like everything else on the market it goes up or down. I had my step dad buy gold at $1200 an oz and like a dummy without asking sold it at a loss because it went down a little. You buy gold and silver to hang on to it.
It does move up and down, but it does not follow the stock market.Just wondering...
Does anyone think that maybe gold is like stocks in that when everyone is saying buy them, it's time to sell? And when everyone is selling them it's time to buy? You know, buy low, sell high?
Yes n no.It does move up and down, but it does not follow the stock market.
It is more influenced by global events.
...Especially like when billionaire$ in Saudi Arabia decide to buy tons of it.
That is the idea. Even though both gold and stocks, for most people, are for long term investing, money can still be made in the short term on both. You can play the gold/silver ratio by trading one for the other based on the ratio.Just wondering...
Does anyone think that maybe gold is like stocks in that when everyone is saying buy them, it's time to sell? And when everyone is selling them it's time to buy? You know, buy low, sell high?
I guess I don't understand why someone would melt down their coins? My coins have been bought from a reputable buyer and their mark and purity (.999 fine) is stamped on the coins. I think they carry way more weight (psychologically speaking) that way, especially to an unseasoned buyer who is wanting authenticity and perhaps doesn't know how to test for that. A seasoned buyer would immediately know they are genuine.I don't like buying coinage as it is alloyed. Gold and silver are too soft by themselves so they add copper and silver to gold and copper to silver. If I could get silver coins at a good price I would just to melt them down.
I think he's referring to US pre 64 90% silver coins that have no numismatic value. Some people like to call it "junk" silver. I've known people who melt down pre 64 dimes, quarters, half and dollar coins and pour bars up to 1,000 ounce each. A couple weeks ago I sold a pile of silver Mexican pesos to a guy that plans on melting them down and pouring bars out of them.I guess I don't understand why someone would melt down their coins? My coins have been bought from a reputable buyer and their mark and purity (.999 fine) is stamped on the coins. I think they carry way more weight (psychologically speaking) that way, especially to an unseasoned buyer who is wanting authenticity and perhaps doesn't know how to test for that. A seasoned buyer would immediately know they are genuine.
Besides, I wouldn't even know how to melt down my coins. It doesn't really matter b/c I see no advantage to doing so, but perhaps I'm missing something?
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