New here (America Silver eagles collector)

hey yall, Im from Kentucky and just made a post under introductions. I am new to the hobby and my uncle tells me to buy buy buy silver. He has a bunch. So I bought 10 American silver eagles today at A+ coinstore. Paid $210 for 10 of them. The guy said if I walked in the next day and wanted to sell them that I could get $17.50 for each. Not bad. Hoping that prices will stay low for about a year or so so I can collect. Then hoping that prices will rise. What do you all think? Good investment or are coins better? I don't know much about coins but have read up on silver. btw I have between $200-400 extra income a month that I plan on using for American silver eagles. thanks

 

Log in or Sign up to hide this ad.

Ya wanna be a stacker or a collector.? The endeavors are mutually exclusive.

 

I want to collect silver. and maybe one day when I have enough money collect coins. what is the best investment?

 

Uh oh, you said the I-word. You'll get some bites there.

I don't think the two are mutually exclusive. I'm mainly a collector but stacking silver is fun too. And junk silver falls into both realms I feel.

 

Using precious metals and/or coins as an investment is a slippery slope, IMHO of course.

Over the long term (I assume you're relatively young), there are much better places to park your money.

Collect and have fun. But don't expect to get rich.

 

They are if ya wanna make money.......not that I ever could, but I did make some decent profits with stacking a few years ago.

 

well better late then never I guess. my wife and I calculated that I have spent $5,000 on drugs in the last year. I gave up drugs and turned to the lord. Now I have all of this extra money. I did the math and if I had saved that money I could have 250 American silver eagles. the way I look at it as long as I keep my head on right I can gain 250 in the next year. in 2 years I hope that prices will double and I can sell them and take my wife on a cruise. silver is my new addiction.

 

Don't expect prices to double any time in the near future. There have only been two huge increases (above $25) in the last 36 years, and it didn't last long.

Chris

 

Agreed with @cpm9ball about not counting on your silver doubling. If you are going to invest in silver, space out your purchases over time. This will help account for influxes in value. There is no magic solution to getting rich or everyone in this forum would be millionaires. However, if you continue to take the money you spent on drugs and put it into silver, you'll always have something you can liquidate for cash in an emergency. Also, I recommend buying silver online and finding the best price, or making sweet with a dealer and getting a better deal. Check out www.coinflation.com for silver values and https://comparesilverprices.com/ for where might be the best place to buy silver. Best wishes.

 

Welcome to Coin Talk.

 

Welcome!

 

First off welcome. Secondly congrats on kicking the habit. Coin collecting can be a lot of fun. If we are all lucky and make smart purchases on places like ebay where you can get super deals (because I think a lot of people are panicking and dumping their silver for cheap) and silver goes into orbit, then we scored big. But that happens once in a blue moon. But at the same time it will not drop much more than what it is now. That is my opinion. Best of luck to you and stay clean.

 

Welcome bgkentucky123. American Silver Eagles, IMO, are a good choice. Stack on.

 

Silver, and more importantly gold, are usually kept as a hedge.

 

I purchase metals to diversify (and it's kind of fun), but I expect other investments to do far far better. Still, one never knows what will happen and diversification can pay off when the unexpected happens. And it will.

 

Silver and gold bullion, IMHO, should only be part of a well diversified investment portfolio. I don't consider collectable coins to be an investment. If my coins go up in value, goodie for me. But those are for fun.

By the way, welcome to the lodge!

 

Thank you

 

Collecting or Stacking will drive you to drinking ....check out CPM9BALL cabinet...

 

Guys, he switched a drug addiction into a silver addiction. That's the best investment he's ever made; even if silver drops to an ase's face value

 

I am also addicted to American Silver Eagles and American Gold Eagles. Since you are new to the gang I would like to give you a little advice. Make sure you are dealing with reputable dealers. There are many scammers. I tend not buy from foreign dealers, and online buying is great, again make sure they are reputable. Visit the US Mint online and they have a list of authorized silver bullion dealers. One scam I remember reading about was the one from china where they coated lead with silver, the silver began to wear off the edges and it did not weight 31.1 grams give or take a tenth.