Gold or silver?

See www.coinflation.com for silver values, constantly updated. You can buy junk silver at most coin shops, but will probably pay sales tax. The chances of you getting a fake "junk silver" dime, quarter, or half are virtually NIL.

I buy junk silver because:
1. it has the lowest premium of any type of silver
2. it is already in a small, convenient size for bartering
3. everyone recognizes the coin designs
4. the odds of getting a counterfeit are exceedingly small
5. when you sell, you don't have to "prove" to anyone that it is silver
6. when the dollar tanks, all the premiums you paid for eagles, US Mint coins, bars, etc., etc.,
will evaporate - so why pay any premiums up front?

====================
agree on silver war nickels - nobody wants them, although if you happen to have the opportunity to choose the ones you want, and can pick out AU's or borderline UNC's, then it's a good deal. Most of them you now find are slick underweight culls.

Let's say you buy Eagles. Bad things have happened in this country, and silver's $90/ounce.
You want to buy a loaf of bread. No one accepts Federal Reserve Notes anymore, except at a substantial discount. How's anyone going to make change for you? Worse, you bought bars or rounds. The merchant says, PROVE to me that's silver.........

Collectors and stackers have rehashed this argument for YEARS.

 

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Would it be a good idea to buy silver coins on ebay?

 

NO.
High postage.
No idea what you're really getting.
Possibility of shill bids.
Buy face-to-face; when you find a reliable local Seller, give him repeat business. I have been buying from the same man over 2 years.

 

1960's Roosevelt dimes right? How much does a roll cost? Do coin shops sell rolls of these coins or do I have to buy them one by one?

 

come on guy. you know thats not accurate. i have picked up mercuries, roosies, washingtons, kennedys, etc at below spot, INCLUDING shipping (or free shipping) many a time. you just have to be patient and snipe.

 

laser...be very careful with the information you are getting here. grain of salt theory.

 

The only reason I mentioned 60s Roosevelts is that they are nice heavy coins due to minimal wear, so you will max out on silver weight, possibly the equivalent of getting one extra coin compared to, say, slick Mercury dimes. A coin shop may or may not have rolls made up, I prefer to buy loose (although I buy from an individual, not a coin shop, due to better service, no waiting, and no sales tax). Hint to the coin dealer that you'll be back over and over as you save up to buy junk silver, but I'd be looking for a reliable individual. Keep a detailed accurate list of what you bought, and what you paid (with the coins), you will need it for tax purposes someday.

 

Likewise, rhysherms. I will NEVER buy junk silver off eBay, for the reasons I stated. I like to deal face-to-face.

Also, deal with an eBay Seller, you are probably leaving a paper trail which the Feds may someday follow. All my purchases are cash. The first six months or so, my Seller did not even know my last name, and that's the way I like it. I like to keep a low profile in my investing and my purchasing.

Finally, deal with a coin shop for a large amount, and they will probably fill out a 1099, another reprehensible paper trail. I've heard the threshold is now $3000 instead of $10000. Anybody know for sure?

 

I see we are off the topic of safes since I've last checked and are now on 90%. The truth is you have to find your own answers Lasers. Doug444 likes 90% and dealing face to face. Others like EBay and others like different forms of bullion and different places to buy it. This is why you need to do as much research on your own as you can and find what works for your situation. There is no right or wrong answer. Doug444 has valid points and so does rhysherms.

 

Here's a quick summary. I figure the less people know my name, my collecting interests, my sources, my checking account number, my personal details, and how I protect myself, the better off I am.

 

The NSA will just get everyone's IP and Misc info off the coin forums anyway.

 

while i do agree with you on the paper trail, i keep my ebay purchases under control. i also have a nifty little firewall as far as identity goes on forums, ebay, etc, so i am not to concerned about that. lets just say i was a twin and leave it at that. if you were to evaluate my purchases by dollar amount, 95% are made cash, in person with dealers who only know my first name and not even a phone number. i would suggest the same as did doug444.

short version funny story, one of the dealers i buy from since day one of my collecting, i call him mr pink, and he calls me mr black. loooong story.

 

LOL. You have received the doug444 Stamp of Approval. Where shall I send it?

 

Back to talking about safe's, Could I be able to add an extra lock somehow so that the safe is more secure?

 

Do whatever you want too, but if you go back and reread, rysherms spoke of hiding his valuables in places other than the obvious (you know, obvious.... like a safe) and I told you of storing a significant amount of metal in the basement of a rental property. The point here is that even with your family concerns, you probably do not need a safe. Believe it or not, the "hidden in plain sight" idea is worth considering.

 

Yeah I know I was actually thinking about doing that but I just want to know if I would be able to add an extra lock IF I bought a safe.

 

I would assume that all depends on the type of safe. If a non-fire metal model, surely you could bolt and/or weld something for added security. If a fire safe, I am not sure, but assume all would depend on it's construction.

 

Alright thanks.

 

I know, I know... but he's going to do what he's going to do, and if a lesson comes hard-learned, so be it.