Advice someone new to precious metals wanting to make a big purchase

drAGonfly47

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ok so, i have had a small coin collection that my dad started for me when i was a kid, and here and there i had bought some coins that i liked....not really for the value as ive never kept up on the prices of specific coins. Here recently i was looking through all my coins to see which ones contain silver and which ones dont, and i found a couple where they are worth more than their weight in silver. My question is, would it be worth it to sell these and buy silver with what i make off of them?
There will be a much stronger gain in silver coin/bullion rather than numismatic value when entering the financial transition you have mentioned. Waiting for the numismatic value to increase in order to sell, may not occur timely so.
A midway position to take would be to sell all that are not silver, and purchase Ag immediately. Possibly trade at the local coin shop you have nearby.

If and when the transition occurs, scales does not read move heavily so, with a "pretty" or "rare" silver coin.
Other than buying legal tender silver eagles for financial security.
Weight RULES.

Great purchase report you listed, thanks.
 

DCFusor

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Heh, you ARE timing the market - (and it's not always so impossible, I do it for a living) when you say (correctly) to wait for the coin collector's market to be hotter. Dead on, PMBug. That usually happens when times are better, of course, but in the meanwhile, the goodies are still good anyway.
 

Seraphim

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Tell her to be a woman and trust her man the way you trust her.

If only the wife would do some reading, or at least listen to what im saying about the economic crisis world wide, and the impending disasters, then i would be making many more just like this one.....unfortunately, she either doesnt listen or doesnt care so, the purchases will be smaller, but hopefully on a regular basis.
 

rblong2us

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If only the wife would do some reading, or at least listen to what im saying about the economic crisis world wide, and the impending disasters, then i would be making many more just like this one.....unfortunately, she either doesnt listen or doesnt care so, the purchases will be smaller, but hopefully on a regular basis.
good luck with that one oppie.
think it played its part in my current status ........

Theres an article on Chris Martensons site about the importance of couples not getting too far out of step.
Just dont know how you can achieve this once youve taken the red pill and all they want to do is watch the mind control stuff pumped out of the tv.


Regarding buying strategies , I got caught in two opposing arguments, one that said dont leave it in the bank, convert it to PM's as soon as you can and another that said cost averaging was the sensible way.

So the house got sold, the money ( ok half of the balance ) was in my bank account and gold had 'entered a steeper trend' ......
I fought to get it into a Goldmoney account, cos they really dont make it easy and once it arrived, I converted the lot into gold. Phew what a relief.

Dont care what happens now ....... ok I do care about a 15% beatdown, the largest drop EVER ! But its nearly back to where it was just a few weeks ago ......

I guess Im trying to say it really doesnt matter how much or when, the only important thing is to recognise whats coming and not hold any paper.
The whole financial system is unstable and could topple any time, or they could maintain a semblance of order for several years. It will fail though.

As for holding coins, while I am tempted, I see several risks -

Is it gold / silver ?
Will your coin dealer hand over his client list when someone threatens him ?
Will you hand over your stash when they threaten your family ?
How do you sell and who do you sell gold coins to, when money is broken ?

The risks of holding it in a Bullionvault or Goldmoney vault ( in Zurich ) are -

If theres 40 claims on every ounce, will 'bigger boyz' turn up at the vault with a prior claim ?
If the internet goes down, how easy will it be to sell some ?

In the event of things going badly wrong, I accept my PM's will be of no benefit and know that real wealth resides in our ability to meet our needs -

food
water
shelter
warmth
health

probably best put in place before the system fails though.

And maybe when the dust settles and a new gold backed currency is launched, our selected store will come good.

good luck rblong2us
 

bushi

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wow. really good stuff, Bug! Quite obvious, once pointed out, but so much counter-intuitive and in fact in-your-face, that the problem is I've never get to think about it!

:)
 

11C1P

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I wonder if that guys wife is screaming at him "no, no more silver! The last batch of that crap you paid $35/oz, now it's only worth 24! Hell no!"

Of course if he was smart, he just went and spent another couple grand at times it was under 20 the last couple months.
 
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