How to convince my love one....

Hi everyone,
I've been buying silver coins for the last couple months but i still cant convinced my wife on the reasons.
She think im wasting my money and our money buying worthless coins.Im not sure what to do at this point.
Here what ive purchased so far.....maybe im wasting my money according to my recent purchase.

Any advice from anyone is greatly appreciate



[TD="class: xl24, width: 264, colspan: 3"]AMERICAN SILVER EAGLE[/TD]
[TD="class: xl24, width: 88"]16[/TD]

[TD="class: xl24, colspan: 3"]CANADIAN SILVER COUGAR[/TD]
[TD="class: xl24"]2[/TD]

[TD="class: xl24, colspan: 3"]40% KENNEDY HALF DOLLAR[/TD]
[TD="class: xl24"]18[/TD]

[TD="class: xl24, colspan: 3"]90% KENNEDY HALF DOLLAR[/TD]
[TD="class: xl24"]2[/TD]

[TD="class: xl24, colspan: 3"]WALKING LIBERTY HALF DOLLAR[/TD]
[TD="class: xl24"]2[/TD]

[TD="class: xl24, colspan: 3"]MORGAN SILVER DOLLAR[/TD]
[TD="class: xl24"]1[/TD]

[TD="class: xl24, colspan: 3"]PEACE SILVER DOLLAR[/TD]
[TD="class: xl24"]1[/TD]

[TD="class: xl24, colspan: 3"]SILVER EAGLE GOLD SELECT[/TD]
[TD="class: xl24"]1[/TD]

[TD="class: xl24, colspan: 3"]CANADIAN SILVER GOLD SELECT[/TD]
[TD="class: xl24"]1[/TD]

[TD="class: xl24, colspan: 3"]AUSTRIAN PHILANTROPIC[/TD]
[TD="class: xl24"]1[/TD]

[TD="class: xl24, colspan: 3"]CANADIAN 1/2 OZ SILVER[/TD]
[TD="class: xl24"]1[/TD]

[TD="class: xl24, colspan: 3"]CANADIAN 20$ COMMEMORATIVE[/TD]
[TD="class: xl24"]4[/TD]

 

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If you are investing in silver I would not buy 40% coins. I would go junk silver US, (90%), or .99 pure. Reason is demand for junk silvr or pure is always greater, and you will realize more when you go to sell.

 

It really depends upon how much you paid for these coins.

With silver dropping significant amounts over the past month ($5 per ounce since 11/28), unless you're "collecting" then she's probably right in that some money has been wasted.

Of course, if some magic occurs over then next 6 months and silver goes back up, then you may have made a couple of bucks but again, it depends upon how much you paid.

 

Do you have any investments like 401k, IRA, mutual funds, etc.? Holding PMs should be a part of any savvy investor's portfolio. Analyze data, see what other guys are doing, chart a course, then show her what you are doing! Your call: 5%, 10%, 20%, or whatever. Educate with kindness.

 

Good point. This is why I hold mine, as a contra asset to my other investments. Calculate what your other investments are worth, and put your silver in relation to them. Most financial professionals recommebd 5-10% of assets in commodities.

 

First of all, welcome to the neighborhood!

Your list isn't much help without photos and the prices that you paid. You may very well have gotten good deals on them. Then again, you may have gotten hosed. Most of what you listed sells at a premium, and if you've entered the hobby as an investment for the future, you're making a big mistake.

One thing is sure, if you're unable to give your wife good reasons for these purchases, you're liable to be sleeping on the couch.

Chris

 

clint,

i am 29 and my wife 27....we owned two houses and have 401k and ira setup, also life insurance well established. I figured i needed to add some PM to our assets.

 

clint,

i am 29 and my wife 27....we owned two houses and have 401k and ira setup, also life insurance well established. I figured i needed to add some PM to our assets.

 

All collectors waste their money when it comes to buying.

But don't buy anything with only 40% silver in it. Maybe even getting some bullion might be better for investing.

 

I say buy Key Dates-Graded Only at the best Grade you can afford. Collectors come in and out of this hobby but KEY DATES keep going up.

Buys what makes you happy. I don't like modern coins but prefer coins at least 70 years old. The Silver Ann Sets though are not bad if you got them at $299

 

29 here too. My wife is 30, and she sees my coin buying hobby as a bit nuts.

Still, I've probably spent less on my coins than she has on the shoes in her closet. And I can generally resell my coins for 90% or more of what I paid for them (especially the silver I bought years ago when melt value was less than $10).

As for investing strategies, I recommend spending time and money learning before you put money down buying coins. An easy way to do that is to get involved in local coin clubs, or just hang out in a coin shop for an afternoon sorting through their junk bin. Pay attention to what other people come in and buy vs. what the dealer is buying from sellers. Some of what you observe will be pretty counter intuitive at first.

 

Buy her a dozen roses, with the note that you love her just the way she is.

 

The quickest way to convince her would be to buy some PM and sell it at a profit... of course, easier said than done, but once that happens she may she the possibilities, or at least see that you're not throwing money away.

 

This is a love that's just not meant to be. I say divorce her and find someone willing to enable your addiction! :thumb:

 

This won't work either unless you turn the profit over to her to go on a shopping spree.

Chris

 

I'm lucky and my wife allows me to handle our investments for the future. I've found with my own wife if she doubts anything I do that she might not understand, I just hand it all over to her and tell her to handle it then. It might not go so smoothly depending on the wife but mine quickly turns down such offers and I go on my merry way. I'm actually more cautious than my wife when it comes to money anyways, the only way my wife saves money is by buying stuff on sale on items we don't even need in the first place.

 

Buy her a beautiful silver panda..if she likes shoes, she'll like the panda (at least I do...!) Then she'll appreciate YOUR hobby. A bit anyways

Welcome here to CoinTalk!


Lucy

 

I don't get the impression they're doing it for a hobby, but rather for investment purposes.

 

In my case it wasn't about the money. It was about not spending enough time with her. Compared to past obsessions, diving into coins is very conservative. I would find some good threads on bullish silver opinions and print that off. Proove to her that it is only a small investment, and that she comes first. GL

 

You are correct. I take it back. Don't buy her a Panda. Woo her with investment strategy.. Yep, that ought to do it...