How many people purchase silver and gold like this? So stupid...

Discussion in 'Bullion Investing' started by Jason.A, Jul 21, 2017.

  1. Jason.A

    Jason.A Active Member



    Damaged gold?
    Colorized silver?
    I would be very upset if this is what I received. Then again, does APMEX tell you there's a chance this is what your random date or random 999 silver might contain?
     
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  3. Clawcoins

    Clawcoins Well-Known Member

    Yes those are available for generic or even ASEs. You can get damaged or colorized, etc.

    Provident Metals ==> https://www.providentmetals.com/off-quality-1-oz-american-silver-eagle-dates-our-choice.html

    APMEX, though colorized would fall under their "etc" description ==> http://www.apmex.com/product/6912/1-oz-silver-american-eagle-cull-damaged-etc

    I briefly thought of buying these as you save some $$ (not much) compared to BU ASEs.

    If you stack silver or gold, so you really care what it looks like, or are you more peculiar and want more BU items? For some people it doesn't matter if you've even seem some of the totally scattered generic round collections they have.
     
    Last edited: Jul 21, 2017
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  4. Blissskr

    Blissskr Well-Known Member

    I'd never buy 'our choice' of anything from big dealers as you probably have a better odds of winning the lottery than getting anything good. Why people think an outlet that sells all the other stuff itself at higher prices would gift it to them is beyond me.
     
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  5. spirityoda

    spirityoda Coin Junky Supporter

    that colorized crap. ugh. random gold is just wrong. If I buy gold it will have no damage on it.
     
    Last edited: Jul 21, 2017
  6. Speedbump

    Speedbump Not a New Member

    Depending on the premium you pay, it can be a better way to buy if all you are concerned with in metal content. That said, APMEX premiums on random stuff is not wonderful. You can often times buy new stuff from other dealers for less than APMEX's random secondary market bin.
     
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  7. V. Kurt Bellman

    V. Kurt Bellman 2016 Secretary, Red Rose CC

    If that's the case, be sure your "mental health coverage included" health insurance premiums are paid up. :eek::D Jus' sayin'.
     
  8. sakata

    sakata Devil's Advocate Supporter

    I see nothing to complain about in that video. He ordered generic silver and gold and got generic silver and gold. In fact, with a Victorian I think he probably got better than expected. I once ordered a tube of random date sovereigns from them and they were all 1958 or 1965 - not an old one in sight. I admit the colorized rounds are annoying, but they are still generic silver and some of them may even bring a premium if sold in the right place.

    All-in-all, I think the creator of that video is being very unreasonable.
     
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  9. Santinidollar

    Santinidollar Supporter! Supporter

    Nothing misleading about those two dealer ads. After all, what is it about "cull" not to understand?
     
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  10. ddddd

    ddddd Member

    I agree completely. Buying a random lot is basically just a gamble. If the premium to spot is lower than other generics, then this is a fun way to get cheap silver or gold (with a small chance of receiving something good). However, if someone decides to pay a significant premium, then that is no better than forking out funds for unsearched rolls on ebay.
     
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  11. Jason.A

    Jason.A Active Member

    I'm often amazed by how many dumb people have so much money to blow in this country on such a stupid gamble like that buy.
     
  12. sakata

    sakata Devil's Advocate Supporter

    How can you say that? You don't know what he paid.
     
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  13. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    When buying or selling damaged/cull bullion "our/their choice, one does so at near spot prices. If that comes scuffed, scratched, colored, etc... it shouldn't be a problem really as they shouldn't be considered collector quality. Believe it or not, some of the colorized stuff can go for a premium in the right venue. IMO.
     
    Last edited: Jul 22, 2017
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  14. V. Kurt Bellman

    V. Kurt Bellman 2016 Secretary, Red Rose CC

    I do believe you about having such a venue, I just haven't seen it yet.
     
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  15. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    EBAY, coin shops, free-market, etc... maybe not so much in Amish territory, apparently.;)
     
  16. V. Kurt Bellman

    V. Kurt Bellman 2016 Secretary, Red Rose CC

    Often, in my area, the next word heard after a colorized coin is whipped out is one that is "Not Safe For CoinTalk". And that IS the Amish. The other folks' language would make a sailor blush. As for me personally, I cuss a blue streak at ANY non-governmental generic silver or gold. I'd never buy it at any price.
     
  17. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    Lol, now it's time for you to show your gold plated state quarter set, and hologram Eagles.:)
     
  18. V. Kurt Bellman

    V. Kurt Bellman 2016 Secretary, Red Rose CC

    Yeah, don't have any of those either. My usual numismatic rule is "if it's advertised on TV, I ain't a-buyin' it". Every time Bill Devane comes on TV hawking gold, the day I buy any gets farther away.

    I made a fair bit of profit buying metals with the intent of selling them later. The thing is I bought every scrap when nobody was into PMs, and nobody was advertising them on ideological channels on cable.

    When washed up actors come on ideologically narrow audience TV channels telling people "it's time to buy silver or gold", that tells me one thing - it's time to sell every shred of it you can.
     
    Last edited: Jul 22, 2017
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  19. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    You are right. This knowledge must be a secret though as they must be selling a lot of them to someone, or wouldn't continue to make/ruin the coins one would think anyway.
     
    Last edited: Jul 22, 2017
  20. Clawcoins

    Clawcoins Well-Known Member

    I've won the lottery a few times I guess .... gotten most of my BU ASE collection through the Provident Choice Program.
     
  21. mynamespat

    mynamespat Dingus

    Colorized and hologram coins/medals seem to be fairly popular in Eastern Europe at the moment. ...but .. I'd reckon the risk of selling them in E. Europe markets supersedes the potential profit.
     
    Johndoe2000$ likes this.
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