Should I buy Silver and Gold?

[hags]

For anyone that questions Warren Buffett's smarts, according to Wikipedia, he bought 4000 metric tons of silver in 1997 at 4.41/oz. Now that's what I'd call an investment.

As for me I've got several hundred pounds of copper stashed upstairs with no sign of the ceiling cracking yet.

------------billy

Ye ever wonder ifn' Warren really knows exactly what he all owns?...bet it be a real chore to keep it all straight...

hags

[billyjoe]

For anyone that questions Warren Buffett's smarts, according to Wikipedia, he bought 4000 metric tons of silver in 1997 at 4.41/oz. Now that's what I'd call an investment.

As for me I've got several hundred pounds of copper stashed upstairs with no sign of the ceiling cracking yet.

------------billy

[billyjoe]

Stocks,
I like U.S. silver coins, dimes ,quarters, halfs, or silver dollars. Negotiate a price with skiracer or check out this site and read about junk silver. I wish I'd bought some when I first went to the site. As you can see price has been going up significantly. http://www.cmi-gold-silver.com/90circulated.html Good luck.

-----------------billy

[stocks54]

Billy,

Which coins do you suggest and place to buy them?

Thanks,
Stocks

[skiracer]

I am still holding around $100 of silver quarters. dated from late 1800's / 1900 - 1964. nothing mint but good general good condition and real silver coin. i will be negotiable if dealing in cash.
i also have some silver bars from the old sunshine mines. 10 oz. bars stamped Sunshine Silver inside a circle with an American Eagle and the date 1982 stamped in the circle. underneath the circle is stamped .999 / fine silver / TEN TROY OUNCES and SUNSHINE MINES with the serial # at the bottom. on the other side and is stamped SUNSHINE BULLION. they are old and you cannot get them anymore. it was a famous silver mine company and these pieces are so neat lying on your living room coffee table. plus they will appreciate from their old time uniqueness and because they are silver. the silver bars are expensive because of their being so unique. i dont really want to sell them but i would let a few go.

[billyjoe]

stocks,
I like silver but can't stand paying the premium for bars. Unless you eventually sell to someone very familiar with the brand name on the bar they'll question the purity and it will be difficult to get rid of. That's why I'd stick to coin silver even though it will cost you a slight premium I'd rather pay it for the coin as you can always find a buyer in the future. Or you could invest in sterling silverware as the stamp insures .925 purity and is commonly accepted at least for the old U.S. flatware.

-------------billy

[stocks54]

Thanks

Thanks. In terms of physical coin I was thinking of buying Mapple through Monex which is $50 higher than spot price. Any suggestion there? I did speak to Monex representative yestarday and he was pusing towards Atlas account and leavrage which I am not interested in. Any other coin or seller do you have in my mind?

In terms of Silver I was thinking of buying bars. Any suggestion what to buy and from where?

Thanks,
Stocks

[peanuts]

Hi Stocks,

If this is strickly for investment, then buy the most liquid types of precious metals. ETF's only trade during market hours, so you can get burned on overnight moves. If you buy on the COMEX, then you are buying future contracts... options to take physical delivery in the future. These are both very liquid. For silver, the single ETF is SLV, the double is AGQ. For goldm the single ETF is GLD, the double ETF is UGL. You need an account with a broker that has access to the PM market in order to trade futures.

The other option is physical possession. Typically, these are cash deals. You pay a premium to spot, but then again, you also sell at a premium to another individual. Coin dealers are the best source for information and available supply (sometimes). The types of bullion available are wide and ranging. But what it really comes down to is gold is gold, silver is silver... buy what you like at the closest to spot price as you can find.

If you can't hold it, do you really own it?

Hi peanuts/billyjoe,

Any suggestion on how to buy silver?

For Gold and Silver I am planning to invest money in following way:

1) Buy some metal in accounts
2) Physical delivery
3) ETF's

Gold:
I have purchased some gold through bullionvault account. I am planning to buy few coins through Monex. I am also looking to invest in GLD.
-- Any advice here?

Any suggestion on how to go about in terms of investing in silver? If you have any other ideas or suggestion please do share.

Thanks in advance for your time.

Best Regards,
Stocks

[stocks54]

Interested in buying some gold/silver

Hi peanuts/billyjoe,

Any suggestion on how to buy silver?

For Gold and Silver I am planning to invest money in following way:

1) Buy some metal in accounts
2) Physical delivery
3) ETF's

Gold:
I have purchased some gold through bullionvault account. I am planning to buy few coins through Monex. I am also looking to invest in GLD.
-- Any advice here?

Any suggestion on how to go about in terms of investing in silver? If you have any other ideas or suggestion please do share.

Thanks in advance for your time.

Best Regards,
Stocks

[billyjoe]

I must have missed something....You're able to sell pennies for the value of the copper content???

Webs,
Maybe not today but within the year very possible. They are selling bulk copper pennies on e-bay and even with the shipping people are paying more than .02 each.

------------billy

[Websman]

Just tallied 2nd 10,000 penny batch.

1st 10,000 - 3419 or 34.19% copper

2nd 10,000 - 3473 or 34.73% copper

very consistant while rolls from bank are staying around 30%. Have regularly gotten pennies from 6 different banks in 2 counties.

------------billy

I must have missed something....You're able to sell pennies for the value of the copper content???

[billyjoe]

Just tallied 2nd 10,000 penny batch.

1st 10,000 - 3419 or 34.19% copper

2nd 10,000 - 3473 or 34.73% copper

very consistant while rolls from bank are staying around 30%. Have regularly gotten pennies from 6 different banks in 2 counties.

------------billy

[peanuts]

Finally got all the pennies from the church carboy. It contained 23,300 , that's 466 rolls, 145.62 pounds, $233.

-------------billy


forgot to add, approx. 52.42 lbs. copper pennies. Current copper value is 3.1575/lb. Making my profit $83.88

Billy, I think I know just what you need for Christmas: http://www.ryedalecoin.com/

Only $500 and you can sort more pennies than you ever dreamed!

Keep it up!

[billyjoe]

Finally got all the pennies from the church carboy. It contained 23,300 , that's 466 rolls, 145.62 pounds, $233.

-------------billy


forgot to add, approx. 52.42 lbs. copper pennies. Current copper value is 3.1575/lb. Making my profit $83.88

[billyjoe]

Peanuts,
I sold the last of my GRS at 10.97.

My mother's church got a donation of a large amount of pennies for the organ fund. I told them I'd count and roll them if they'd sell them all to me. So far I've rolled 20,000 pennies , that's 400 rolls weighing about 125 pounds. Of the first 10,000 pennies, 3,419 (34.9%) were copper. These are mostly from the top half of a large carboy. So I'm expecting a greater % of copper in the last half. Most are no later than 2003 so they were collected in the years prior to that. Over $200 and I haven't got them all yet, maybe Monday. This job pays way less than minimum wage but I find it interesting. Call me obsessed.

-------------billy