Bullion Purchase

Discussion in 'Bullion Investing' started by CoinBlazer, Mar 30, 2019.

  1. CoinBlazer

    CoinBlazer Professional Teenager

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  3. Collecting Nut

    Collecting Nut Borderline Hoarder

    Very nice, but where does a 16 year old get all this money from?
  4. rte

    rte Well-Known Member

    Those are Nice. I had plenty of jobs when I was 16.
    Yeah that was a different time, but some youths today are still motivated and by the OP's name....I'd say he made a buck somewhere.
    There are a few different bars that share the same back aswell as different sizes.

    I'd have a few more questions :D
    Did you score a good deal on it?
    Last edited: Mar 30, 2019
    Randy Abercrombie likes this.
  5. myownprivy

    myownprivy Well-Known Member

    I doubt a 16-year-old would have trouble coming up with $75. In many big cities in the country now that is only 5 hours worth of work. In many other parts of the country, it's only 6-8 hours worth of work. Most teenagers can work that single day after school at a real job, earn money in under the table work, or save up some allowance from parents if they get one.

    However, we should focus on how that 16-year-old spent his money. I know I made some purchases back then I regret. I'd recommend using that $75 next time to put into high earning savings account or CD, opening your first mutual fund or ETF, or if you insist on buying bullion, going for government-issued coins, not bars. Another good choce is junk silver due to the very low premiums.

    However, I think you made your silver bullion purchase a good time after the significant decline in price in the last few days.
    Seattlite86 likes this.
  6. Collecting Nut

    Collecting Nut Borderline Hoarder

    He has a lot of nice coins for his age. Also, he tried to sell a nice one recently but the sale failed. Yes, I had money as a teen but jobs were scarce and my education was more important.
  7. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Had three jobs at the same time in my early teens. Two paper routes and pumped gas after school... Exactly so I could buy coins! Then I discovered girls and all that went to pot.....

    JCKTJK Supporter! Supporter

    Nice bar! I had two jobs when I was 16, I dropped out of school to help my mom with medical bills, rent etc. so for a couple of years disposable income was scarce, I am glad you are able to collect and invest in your future, you seem to be on the right path!
    CoinBlazer and green18 like this.
  9. green18

    green18 Sweet on Commemorative Coins Supporter

    Women can sometimes make you want to smoke 'pot', but I prefer scotch.......
  10. CoinBlazer

    CoinBlazer Professional Teenager

    by the OP name? What does that mean?
  11. CoinBlazer

    CoinBlazer Professional Teenager

    A simple strategy
    I have a job, I work 30+ hours a week.
  12. CoinBlazer

    CoinBlazer Professional Teenager

    I paid $87, which was alright.
    -jeffB likes this.
  13. Collecting Nut

    Collecting Nut Borderline Hoarder

    Good for you.
    Two Dogs likes this.
  14. rte

    rte Well-Known Member

    I was looking more at the professional teenager part.
  15. rte

    rte Well-Known Member

    Yes Not Bad....I've paid more for the same type bar.
  16. Garlicus

    Garlicus Debt is dumb, cash is king.

    Food for thought:

    Coins are for collecting, not investing. PMs as a small percentage in your portfolio can be a good thing, and 5% is generally recommended, but don't ignore traditional investing.

    Since you are working, you can open and contribute to a ROTH IRA.
    As the law is currently written, ALL withdrawals from that account after age 59 1/2 (I believe it is) are tax free. This includes growth and dividends, not just principal.

    If by age 20 (I believe you are 16) you contribute "just" $5,000, and make no other deposits, you will have $74,872.29 at age 60, assuming you get a consistent 7% dividend, and reinvest that dividend annually.

    If you consistently add just $1,040 every year ($20/week) to that $5,000, and reinvest the dividends, you will have $297,026.24 at age 60.

    It is possible to get dividends higher (and lower) than 7% (I am getting over 10%), so if you want to look at that, using 10%, the total value at age 60 would be $732,622.16. All from starting with $5,000 and adding $20 each week.

    This is for illustration purposes only. I did not make any allowance for fees (which you want to keep below 1%) in my calculations.
    Last edited: Mar 31, 2019
    CoinBlazer likes this.
  17. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Here,s it,s big brother, actually was looking for a good one for a long time
    But most the ones on the bay are beaten up.
  18. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  19. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  20. Mr Roots

    Mr Roots Underneath The Bridge

    It’s easier to write “eBay” than “the bay”.
  21. JCKTJK

    JCKTJK Supporter! Supporter

    [QUOTE="mpcusa, post: 3445736, member: 265[​IMG][/QUOTE] I really like the design. I think they released these to keep a lid on silver prices at the time??
    mpcusa likes this.
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