Commercials to buy gold

[Allen]

I have about 100 silver dollars I paid around $10.00 for and I have twenty 1/4 oz Canadian maple leaf .999 gold I paid $5,050. Gold is down to $1850. When Gold got up to over $2,200,I would have sold out but that was during the COVID shut down and I could only get into the bank with an appointment (7 working days) and by then it was down to $2K.

The Israeli war crisis ought to up the price to 2K+.

Melt value wise your gold and silver both have doubled in value. Coins in decent shape are worth more.

[Johnny P]

You are correct about the recent increase in the cost of metals. Gold is up about 50% from 5 - 6 years ago. I bought some silver in the 1980s when it was $5.00 - $7.00 an ounce, both bullion "junk" coins and collectables and sold them a few years later to help pay for our sons college. I made a bit on them but not enough to mention. So, as a, hedge against hyper inflation - OK, hobby - OK, investment to make a killing on later, IMHO, probably not, and if you do speculate be prepared to "strike while the iron is hot."

I had a friend who, when silver was really cheap, in the late 1960s to early 1970s bought "junk silver" coins by the bank bag. I figure he had a foot locker full of the stuff. He also collected numismatic coins and later in his life got heavily into US Mint gold bullion and collectable coins. He's also the fellow I mentioned on a previous post had the very large collection of American Indian spear points and arrow heads. He loved talking about his hobbies and was very entertaining when he did.

Also, there does seem to be a silver shortage, the mint, I have heard, did not strike some numismatic coins last year due to a shortage of silver. That obviously doesn't help the retail price of silver either. It seems there is some truth in what the TV hucksters tell you on that point at least.

The current price of "junk" U.S. silver coins is far above their melt value.

https://www.apmex.com/category/25830...rolls-bags-all

[Art]

The current price of "junk" U.S. silver coins is far above their melt value.

https://www.apmex.com/category/25830...rolls-bags-all

That is true. Smart folks have to shop for the best prices. Junk silver dollars sell for $35.00 a pop generally, but can be had several dollars cheaper if one spends some time looking around. The reason "junk" coins sell for more is their value and weight is not in doubt, and they have some limited numismatic value. Silver bricks, silver bullets, nondiscrept silver rounds can be had for a few dollars over spot but you can run into issues over actual content of the precious metals. There is no debate over legal tender currency. All this according to my previously mentioned buddy who knew a heck of a lot about this stuff. He also said when metals are high to buy numismatic coins and bulk silver when its cheap. Just his take on it. He bought his bags of bulk "junk" coins when the spot price was $5.00 - $6.00 oz. Very interesting guy in a lot of ways, I miss him.

[dogtag]

Years back I was in Safeway, Lady checker asked if I wanted
four Silver Eisenhower dollars someone had used to buy
whatever. I gave her 4 dollars for them. They look nice and
shiny but are just 40%.

[Johnny P]

A scarec 141 year old silver dollar minted at the Carson City, Nevada mint. Someone must have put it up when it was newly minted.

The silver dollars were made with about as much care as making washers. They were stamped out, ran down a belt where they were dumped into a canvas bag, tied up and thrown on a cart. Most had small scratches on them before they hit circulation.

[Ltdave]

i dont remember exactly when but i bought 10 1-oz US Gold coins. i think they were called Double Eagles? someone will know for sure. face value was $50. so for "$500" in coin, i paid just under $3800 ($380-ish per ounce).

it wasnt long gold had gone up almost double (maybe it WAS double?) and i was leery of it crashing or going stagnant so i sold them all for $6300-$6800. i just cant remember exactly.

kind of disappointed in myself when i think about it. would have been $20,000 at one point in the not so distant past

[Johnny P]

My bank use to send me one of the 1 oz. "Walking Liberty" silver coins every year, but haven't received one in several years.

[PaFrank]

I have always dabbled with coins. mostly silver but occasionally some gold. If you ever attend a large coin show and talk to the big (reputable) dealers, they are hesitant to buy "raw" gold coins from people they do not know. Even at melt. reason is, because of the current prices, it is worth it for counterfeiters to fake em and they are quite good. So if your gonna buy gold, best to buy certified coins. even bullion coins unless you are buying directly from the mint, but not sure you can still do that. And by certified, I mean graded by PCGS or ANACS or even PGC

[Art]

I have always dabbled with coins. mostly silver but occasionally some gold. If you ever attend a large coin show and talk to the big (reputable) dealers, they are hesitant to buy "raw" gold coins from people they do not know. Even at melt. reason is, because of the current prices, it is worth it for counterfeiters to fake em and they are quite good. So if your gonna buy gold, best to buy certified coins. even bullion coins unless you are buying directly from the mint, but not sure you can still do that. And by certified, I mean graded by PCGS or ANACS or even PGC

Correct. The surest way to guarantee the value of a coin is to have it certified, short of that "legal tender" coins, those struck by government with a face value are the way to go. American numismatic (pre 1933) gold coins, or current US Mint bullion coins which also have a nominal face value on them. Foreign legal tender coins such as gold pesos or British Sovereigns are also a good bet. As I said above, generic rounds, and little bricks have little to no guarantee of authenticity. There are tests to verify the metal is correct but of course how many people have access to them.

Yes, my understanding is that as of right now you can still buy directly from the mint.

Our son has been deployed to the middle east several times and while there he discovered that high rent locations like The Emirates actually have gold vending machines .