Once again not sure if this is the right place to post but sure hope so.I was wondering if any of you who have been around coin collecting alot could advise me as to what you would do with the silver coins you have knowing there is no key dates in your collection and not worth more than spot.Would you sell now at spot price or hold until later,i guess what i want to know is do you feel silver will go up much higher or is it at about tops,i know no one knows for sure but whats your gut feeling?thanks
I just hold onto mine. Selling... I guess that depends on where silver (AG) was at when you bought it. Personally, I think AG has tremendous potential. It was a couple of years ago on another list I recommended that AG was a screaming buy at $6.00. Several there wanted to know what I was basing my speculation on and when I responded with "gut feeling" I was rightfully laughed out on my butt. But, look where it's at now. http://forums.collectors.com/messageview.cfm?catid=26&threadid=426802&STARTPAGE=1 I think AG will touch $20 before 2007 is out and retreat to the $18.00 level by the end of the year. In short, I've very bullish on the metal Ben
Ben is right, unless you REALLY need the money hold onto them, silver is bullish right now, and this time, thru the Spring is usually (traditionally) the low point for silver. Annaully the high points for silver (& gold) are usually the fall and around Christmas. If you have to sell, and coin dealer can give you a price, but, generally, stay away from pawn shops.
I would n ever think about selling my junk common date silver coins. Now if silver gets to $50/oz, maybe i would sell off some of my Kennedy 40% halves, but i still don't think I could sell off my junk coins...even dateless SLQ's
the only coins i allow myself to spend is the candian and other forighn coins i get. i haven't sold any of my coins since i started 4 years ago!
I sold off a good bit for a friend of mine---when I sold it Spot was at $12 and I was able to get him $13/ounce. Speedy
I agree with Ben. This might be about the worst time in the past couple of decades to sell silver. It's been asleep for a very long time and is just beginning to wake up. There are very few other things in life that you can buy now for the same price they sold for in the 1970s. The price is up by about $8 or so over the past few years, but moves like this tend to take longer and go much much higher than anyone expects. If you don't need the money for something else, hang in there.
I have been buying and selling various silver coins for about 30 years now. Mostly buying, but occaisionally selling. Both Mint rolls of Silver eagles, and the so called "junk" silver rolls of mostly halves, but sometimes quarters and dimes. I bought singles of higher grade (XF-AU) Walking Liberty halves from a bulk bin of a local flea market dealer for $2.50 (5X face value) only 2 years ago. Now he wants $5.00-$5.50 for each coin. When he has them. No more XF-AU either. Silver is nearing recent highs. Gold as well. See Kitco.com for gold and silver prices. They have Daily, Weekly, Monthly, Yearly CHARTS. You can look up charts for the last One Year,5 years, 10 years etc. NO ONE KNOWS where precious metal prices are going. If we knew in advance, we would all be rich.
Howdy, Well, I can understand the temptation - what with silver over $13. It'd be wrong for me to tell you what to do, so I can only tell you what I'm doing. Back in the 70's, I was stashing silver out of circulation at face value. I wasn't really financially positioned to stash serious money, but as a kid just starting out running restaurants, I had access to a lot of change . . . and took advantage. In the late 70's, I went back to school on the GI bill (what was left of it) and augmented this by slowly selling my silver 'hoard'. Can't say I sold much at the peak, but I did very well considering I had only 'paid' face value. Over the past 20 odd years, I've been resupplying my hoard and adding to my coin collection in general. I buy a roll of silver eagles every year, have some gold eagles, a bunch of silver ingots and rounds, etc. This is all separate from my coin collection and is my bullion hoard, if you will. I'm still adding and am not even considering any selling . . . not even close to selling. I just bought my annual roll of silver eagles a couple of weeks ago at $285 and was glad to get it under $300. Personally, I think that silver and gold are just starting out on a bull market and that before it's over we'll see them both at much higher levels. Much higher. Who really knows how high. I could easily see gold at $2-3K and silver north of $50. Will it get there? Gee, I don't know. That's what I call upside potential. And this has to be balanced against downside risk. And as for downside risk, I think it's really minimized by the strong demand from overseas for gold. So, I'm holding and adding because I see a great potential upside gain and don't see much downside risk. peace, rono
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