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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Numismatic value of US coins made of precious metals
#19913580 - 04/28/14 07:40 PM (9 years, 9 months ago) |
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So when silver maxed out I cashed out most I had in gold and silver. Sold the rest of my personal silver/gold coin collection as well which I hadn't realized had grown in so much value. Never really thought of it like that.
I spent "profits" (as compared to $20 usd today) on fun things like 1955 and 1972 double die pennies and 1932 Washingtons and 42/41 type errors and fractional currency. Its awesome as hell to hold something in your hand thats 200 years old and looks brand new. I also desperately needed the money for an injury that put me out of work for 2 years so this market fluctuations couldn't have happened at a better time.
Collectable US coins (esp non precious metals) were taking a steady and hard dive because everyone was buying massive amounts of Englehards or maple leaves or krug. Silver and gold prices shot up and coin dealers in the tristate area and eBay were selling on the cheap. Coin auctions here were also a buyers market). Some bids for awhile there were below melt and I scooped up a ton of that fast.
I'm liquidating a lot of my certified coins that have gone up in value substantially. I'm buying up silver en mass now with even more free money. I'm good on gold for the time being and would rather have a thousand dollar face value bag to go through and have fun with.
In the end I'd say I'm sitting pretty good on this whole thing and played both markets well. There are so many facets to gold and silver that should all be explored.
Coin collecting is an incredibly interesting hobby. I've been at it 25 years and this boom only made it better. Now that I've grown up and life happened it just turns out you can make so much off of having a hobby.
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thescientist
Registered: 03/09/02
Posts: 807
Loc: Dade County
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Re: Numismatic value of US coins made of precious metals [Re: Adden]
#19914711 - 04/28/14 11:35 PM (9 years, 9 months ago) |
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Sweet! What price did you sell at?
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Numismatic value of US coins made of precious metals [Re: thescientist]
#19917331 - 04/29/14 03:25 PM (9 years, 9 months ago) |
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Edit.
Edited by Adden (10/24/14 11:09 PM)
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Galaxy

Registered: 06/03/13
Posts: 61
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Re: Numismatic value of US coins made of precious metals [Re: Adden]
#19965865 - 05/09/14 11:54 PM (9 years, 9 months ago) |
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I decided to start buying silver after hearing about the marking a few years ago and I decided to go the flea market to try and find some coins. I didnt find anything at the flea market and I was kind of bummed, but on the way home I stopped at a gas station and bought a drink.
As I was walking out a guy walked in with a hand full of half dollars and asked the clerk if they wanted to buy some silver, the clerk shook his head and I walked back in to see what he had. I wasnt to aware of the prices at the time and he had 12 Kennedy halves, we agreed at 14 dollars and I bought them. Later I check and four of them were clad but two were 90% silver and the rest were 40% silver. It was a good way to get in to collecting.
About 6 months later I was working at a grocery store and a kid came in and said that he had these coins for a while and wanted to exchange them for bills. I noticed while I was working and I told the cashier that helped him that I wanted to buy the bag of coins, so I bought them at $40 face value.
I walked out to the car to put them up and I reached in and the first I pulled out was a 1889 morgan silver dollar. There were 4 morgans 3 peace dollars, 8 90% Kennedy halves and a Franklin 90% half and 48 40% kennedy halves. I was shocked to say the least.
I have since been buying coins here and there and I have a small collection mostly from the two storys above. I also save my wheat pennys and any star notes that I come across. I have a few sets of concurrent star notes.
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j_db69
Forever learning shaman



Registered: 02/09/04
Posts: 897
Last seen: 1 year, 8 months
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Re: Numismatic value of US coins made of precious metals [Re: Galaxy]
#19967291 - 05/10/14 11:16 AM (9 years, 9 months ago) |
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Be careful all when buying coins/bars from others. Chinese put into circulation fakes that are very hard to distinguish. The coating is pure but people are going to end up with expensive alloys. I honestly think the market is moving so slowly b/c of the uncertainty of money. Used to, gold/silver was hard currency, but with the fakes, it becomes just like printed paper money. It would be wise to hold what real metals you have and don't be scared of digital currency, but if you don't understand it, stay away It will be the only way to "prove" worth in the coming years. That or turn what you have into physical useful things.
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Numismatic value of US coins made of precious metals [Re: j_db69]
#20015059 - 05/20/14 01:49 PM (9 years, 9 months ago) |
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Quote:
j_db69 said: Be careful all when buying coins/bars from others. Chinese put into circulation fakes that are very hard to distinguish. The coating is pure but people are going to end up with expensive alloys. I honestly think the market is moving so slowly b/c of the uncertainty of money. Used to, gold/silver was hard currency, but with the fakes, it becomes just like printed paper money. It would be wise to hold what real metals you have and don't be scared of digital currency, but if you don't understand it, stay away It will be the only way to "prove" worth in the coming years. That or turn what you have into physical useful things.
Thank you for posting this. Hopefully people looking into coins and metals comes across this post and doesn't become the next sucker.
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