Let's talk about silver spot, mint's coin & bullion

too many thread talking about gold. now let's talk about silver, spot silver, mint's products such as american eagle bullion silver dollar coin and (w) mint mark proof and unciruclated american eagle dollars for collectors.

silver right now is below $10.00. it reached a high of around $21.30 per ounce. and a low of$8.53. currently, as of this writing is $9.15 bid and $9.25 ask.

should we enter the market?. are silver stocks or silver related stocks good to invest?. or are mint's products either bullion or collector's items?. what is your opinion?. what will you do?.

 

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I think I actually want to be able to buy ASEs at 12 bucks

 

not the case

american eagle silver bullion dollars quote:

based on $9.41 bid and $9.45 ask. the wholesalers bid is now $10.91 and ask is $14.20 for 500 pc and above. $14.70 for 60 pc and above. coin dealers still selling at around $16.00 to $18.00 each.

so there is no way you can buy $12.00 a piece yet.

 

Why spend money on paper when for almost the same price you can have physical silver? Paper bullion is a bigger gamble than going to Vegas with a wad of cash. There is never enough physical bullion to back the certificates, as we've discussed before, so when it comes time to sell, you have to convice some other sap a piece of paper is as good as precious metal.

Not true at all. You won't find these prices on Ebay or APMEX or any other retail source. But, I've been buying ASE's for under $10 lately from a local pawn shop. The guy sells them at whatever spot is, no premium. I imagine such bargains can be found elsewhere.
Guy~

 

to coleguy

you are very lucky and got that silver bullion at around spot price. but let me ask you. is that american eagle silver dollar?. is that uncirculated?. if american eagle and what year is that?.

secondly, what about silver mining stocks. is that good or bad?. is that better than physical silver?. to buy american eagle unc silver dollar for 500 pc now cost over $7,000.00.

 

Yes, they are all American silver eagles, uncirculated and of various dates. Mining stocks are high risk, always have been. Mines can be doing good one month, and go under the next without any warning. I see it every day where I live. The largest gold producing mine in North America is withing an hour's drive and I've seen it close it's doors twice this year so far.
Guy~

 

to coleguy

thanks for your good advise. you thought is really correct. i have been at that situation. mining stocks.

 

Don't take it as advice elaine. It's just personal preferance as an investor. I've never been one to gamble with my money, but that doesn't mean other people might not have done good on investments I didn't like. I'd just rather have physical bullion in hand than a piece of paper that says I have virtual bullion.
Guy~

 

to coleguy

i should have bought physical silver and gold coins more. and now those coins still make a lot of money. but stocks market. no way jose. i lost a lot. beside that, we control the price of coins. but stocks, they control it.

 

IMO if you want to invest in precious metals then own the metals not the paper. After saying that I only have a very small amount I consider an investment. And the metals I own are in coins, not bullion. There are always people that are suppossed to be experts in every aspect of investting with some telling you to buy and some saying to sell. The old saying the higher the risk the greater the reward, but it can also be the greater loss. Investing (not saving) can go either way from one day to the next. I like some precious metal around for just in case, and coins are nice to look at. Investing seems these days to make big jumps in areas then fall hard. It seems the stock market has done this two or threetimes over the last twenty years or so, then comes the real estate market. Very easy these days to make millions over a two to three year tume span if you have good batteries in your crystal ball. If you don't have that then diversify and remember the difference between saving and investing.:thumb:

 

why the platinum catching up gold?. at one time the different is only $13.60. and why the palladium and silver keep coming down too?.

 

I've said this before but it's worth repeating. The spot price is a paper price related to the cash settlement of COMEX futures contracts. Very few of these contracts are settled in bullion and the COMEX even limits how much silver can be taken in delivery. The physical price is higher. For that matter, the LME paper price is higher too. Too much credence is given to the spot price when valuing silver coins.

 

elaine 1970 is back with us as coinsider007!

Welcome back elaine 1970! You never left us, you could never leave us, you are a true collector/investor. Hope your surgery went well!

 

I split between paper that says i have silver and having silver in hand. Form what i have seen form watching various modes of selling, the real silver in hand is selling better than paper becuase of the demand for it. If anyone follow's kitco's website, you may have seen several times when all they were selling was shares in the poolaccounts because of the lack of silver on hand. They were also buying at a premium, ASE's maples and the like for over spot to accomodate the demand.

 

If you have money in a pool account, then you don't own silver. You own a financial promise that is only as good as the sponsor of the pool account. With financial institutions failing all over the place, you have a good chance of ending up in line with the other unsecured creditors in a bankruptcy proceeding.

 

well, maybe the mining silver stocks is the answer and better than the coins.

 

i wonder why gold stay high and silver down more than half. anyone?.

 

IMHO gold is higher because it is the precious metal of choice. Some people don't consider silver a precious metal for two reasons: 1. It has a hudge industrial use while gold doesn't 2. Most of the mined silver is a secondary product while gold isn't. I have read and seen charts where there is actually more money to made with silver than gold even though silver can be much more volitale than gold. It seemed strange to me that the price of gold and silver tracked the price of oil so much when oil was so high. I know alot of people will disagree with me, but I still think silver is the metal to own.

 

silver coins is also the most widely collected. silver then gold. but not platinum nor palladium.

 

To 007: So what do you prefer to actually own as a precious metal and in what form? I'm so nosy.