Junk Silver???US Mint Silver Proof Sets?? What type of Gold?? Sorry for all the ???

Discussion in 'Bullion Investing' started by mcxnarf, Sep 13, 2011.

  1. mcxnarf

    mcxnarf New Member

    Looking for some answers that have most likely been asked prior...but here goes!

    Financial Advisor says to purchase "junk silver" pre 64 coins...how much?? from who?

    Gold Bullion...foreign or US? Gold American Eagles, Buffalo Gold Coins...

    Are Silver American Eagles still a good investment?

    What about US Mint Silver Proof Sets? Do they have as much silver in them as a pre 64 silver coin?

    Thanks and I apologize for all the questins.

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  3. McBlzr

    McBlzr Sr Professional Collector Supporter

  4. gboulton

    gboulton 7070 56.98 pct complete

    Local coin shop, craigslist, ebay, or even in the classifieds here.

    Dozen different answers here, DYODD. Bottom line...an ounce of gold is an ounce of gold. Unless you buy bullion coins in extremely high grades (and pay the premium above gold price to do so) you're unlikely to realize any return as a collectible. So...bluntly...buy the metal you want for as inexpensively as you can.

    Same answer as above.

    Yes. US Mint Silver Proof Sets contain half dollars, quarters, and dimes in 90% "coin silver"...the same amount of silver as pre-1965 circulating coinage contained. SOME places will pay slightly better for these coins, as they are considered to have 'all of their original metal" and have not been worn down, due to their nature as uncirculated proof struck coins.

    You will, of course, also pay a bit of a premium above silver price, if purchasing from the mint, since they are minted as collectibles.

    No apology needed, and :welcome: to CT!
  5. Lon Chaney

    Lon Chaney Well-Known Member

    1. Buy as much as you want/can afford from local dealers, online sites like apmex or provident, ebay, craigslist, your brother-in-law, wife's coworker, etc.
    2. US gold bullion would be easier to liquidate in the US, but foreign or private gold is usually just about the same.
    3. Yes, ASEs are still a good investment, as are maple leafs, etc. It sells for more than generic, but generic is ok too.
    4. Silver proofs are .900, like pre-64 coins (other than the 1976 .400 proofs). They buy and sell at a small premium to junk silver, however, since they're proofs. If you're just looking for bullion, I'd look elsewhere, but if you enjoy proofs, go for it.
  6. SorterX

    SorterX New Member

  7. gboulton

    gboulton 7070 56.98 pct complete

    Competitive with anyone in the market, better than APMEX usually, and exceptional service, quick processing and shipping, and high quality coins.
  8. Lon Chaney

    Lon Chaney Well-Known Member

    I agree, except for one aspect. Apmex, I feel, is better for buying generic. You just specify how many ounces you want, and they send you what they have. Provident requires you to specify 1 oz. rounds, bars, etc. when buying generic and the better sellers (1 ounce rounds, etc.) are often out of stock.
  9. mcxnarf

    mcxnarf New Member

    Wow...thanks for all of the good info....
  10. thedabbler

    thedabbler Member

    How much? Ask your financial adviser. I'm guessing 5% - 10%. Why is your adviser telling you to buy junk silver (as opposed to Silver Eagles (.999% pure), Maple Leafs (.9999% pure), ETFs, or stocks?

    Another source to consider purchasing from: http://www.cointalk.com/t191897/ (I've never used him; this isn't a recommendation).

    Uh - if your financial adviser recommended silver, why are you looking at gold?

    As for the Silver Eagles, whether you should get them instead of (or in addition to) junk silver depends on why you are buying silver.

    The Silver Proof Sets are 90% silver. If all you want is the silver, buy the proof silver dollars, and not the proof sets. If you really want junk silver, though, it is cheaper to forgo the proofs and buy junk silver on EBay (although you may lose a few auctions).
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