Should I buy Silver and Gold?

[billyjoe]

http://news.yahoo.com/mining-gold-silver-copper-retirement-income-182146442.html

For some reason I can't find any cheap gold so I'll just have to collect cans, copper pennies, and find silver change for my retirement. If River ever saw my pile of aluminum cans in the garage I'd have to fight her off , hee hee !


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

[billyjoe]

River,
If only I were Mormon !

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

[riverbabe]

Silver find update 2011 YTD

Wartime Nickels 35% silver 1942-1945 worth 1.84 X129 =237.36

Silver dimes 90% silver pre-1965 worth 2.37 X 365 =865.05

Silver quarters 90% silver pre-1965 worth 5.91 X 2 =11.82

40% silver half dollars 1965-1970 worth 4.84 X 103 =498.52

90% silver half dollars pre-1965 worth 11.83 X 18 = 212.94

Total silver value as of 12/1/2011 is $1825.69 face value $103.95


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

Will you marry me?

[billyjoe]

Silver find update 2011 YTD

Wartime Nickels 35% silver 1942-1945 worth 1.84 X129 =237.36

Silver dimes 90% silver pre-1965 worth 2.37 X 365 =865.05

Silver quarters 90% silver pre-1965 worth 5.91 X 2 =11.82

40% silver half dollars 1965-1970 worth 4.84 X 103 =498.52

90% silver half dollars pre-1965 worth 11.83 X 18 = 212.94

Total silver value as of 12/1/2011 is $1825.69 face value $103.95


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

[peanuts]

Buy Gold and Silver without fear. This is going to be quite a run.

Au = $1749.00
Ag = $32.83

I like them both equally right now, but silver price seems low on a GSR basis.

[billyjoe]

I've determined the odds of finding a silver dime is 1 in 1911 after searching through 255,000. The percentage is .052%. I'll search through at least 105,000 more dimes before the end of this year and will find at least 55 more silver dimes. These numbers have remained relatively stable over the last 185,000 searches.

Occasionally somebody cashes in the old piggy bank and it skews the numbers, but it's a rarity. I'll check back with an update around Dec. 1st. I've got the schedules local banks get coin pickup and 1 calls me regularly to pick up dimes so I've got a good idea of how many I'll see each week (minimum 17,500). As of 11/16/11 silver dime worth is $2.44.

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

[alexkube11]

Gold / 1943 (silver) penny

Great thread. The 1943 penny is probably actually made out of steel. They made a lot of steel pennies during WWII. But if you find a copper penny from the year 1943, it is worth around $500,000+, only 13 were minted during 1943 so they are very rare.

Silver and gold seem to me to be the only safe investments right now. What with many saying the double dip is coming in 2012 and gold prices predicted to hit $2000 an ounce: http://bit.ly/sd1RP6. I think that, like the article says, we will need to see more spread of default, even hitting the United States. We will need to see more institutions fail. But for now, I am holding onto my coin collection tightly, but might cash a few in to help pay for the holiday season spending spree.

[wooish]

Wooish,
The simple test is to turn them sideways. If the edge appears to be a 2 tone color, especially with an orange tint, it's not silver. If it looks dirty or a light silvery color check the date. Save anything up to 1970. 1971 and most anything afterwards, spend it.

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

Thanks Billy. I looked through my 300 coins and found

1 1965 half dollar
1 1967 half dollar
1 1962 half dollar
1 1943 penny that looks like a silver (not sure if it worth anything)

The rest are all 1971 and later which I can spend them away

[skiracer]

Regarding SLV. The only thing holding me back from buying is the death cross on the daily chart. On the weekly chart it's currently banging against the resistance 50MA. Keeping my fingers crossed.

wooish,
I wouldn't judge it by the daily chart but I think you will see a surge in SLV here shortly taking it back close to at least the $40 range.

[wooish]

Regarding SLV. The only thing holding me back from buying is the death cross on the daily chart. On the weekly chart it's currently banging against the resistance 50MA. Keeping my fingers crossed.

[billyjoe]

I have a jar of half $$$, 1 $$$ etc that I've collected since 15 years ago.. How do you tell if they're silver or not? Is there any web link to learn how to spot a silver coin?

Wooish,
The simple test is to turn them sideways. If the edge appears to be a 2 tone color, especially with an orange tint, it's not silver. If it looks dirty or a light silvery color check the date. Save anything up to 1970. 1971 and most anything afterwards, spend it.

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

[skiracer]

I have a jar of half $$$, 1 $$$ etc that I've collected since 15 years ago.. How do you tell if they're silver or not? Is there any web link to learn how to spot a silver coin?

Almost everything pre-1964 would be silver. I am not an expert, billyjoe or peanuts would be much more astute about it, but I'm pretty sure that would be a yardstick Wooish. I like the chart right now. If you take a look at the weekly you will see it has fallen on very low volume but there have been days where the advances were made on higher volume. Some people are quietly acquiring it. It is a great hedge against an otherwise crappy worldwise economic situation. There are a number of countries and banking institutions within those countries ready or close to toppling. Plus China is way overextended in a number of areas with bubbles in their housing and financial markets just waiting for something to trigger a domino effect there. The entire ball of wax is on thin ice yet the market continues to move higher. This Greek thing is only one of a number of European countries in as bad a shape as Greece or worse. They are containing the news regarding them but eventually the shit will hit the fan. I like silver and gold but gold is way to high to purchase other than options or some ETF's. But silver is still affordable in a number of ways.

[wooish]

I have a jar of half $$$, 1 $$$ etc that I've collected since 15 years ago.. How do you tell if they're silver or not? Is there any web link to learn how to spot a silver coin?

[skiracer]

11/1/11

Time for an update in my efforts to make my fortune by searching through coins looking for silver. I've blown by my $1000 of silver goal with these finds to date:

129 wartime nickels 1942-1945, 35% silver worth 1.87 ea. = 241.23

333 silver dimes 90% worth 2.41 ea.---------------------= 802.53

--2 silver quarters 90% silver worth 6.02 ea.-------------= 12.04

103 half dollars 40% silver 1965-1970 worth 4.92 ea------= 506.76

18 half dollars 90% silver 1964 or earlier worth 12.04 ea.----216.72

----------------------------------------------------Total $1779.28

Face value of above coins is $100.75

This does take some time and effort as I've searched 220,000 dimes. Under normal circumstances you'll find 1 silver dime for each 1900 you look at. I've been fortunate to find 2 what I call "motherloads" that accounted for 230 silver dimes.

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

Sweeeeeeet Billy!!

[billyjoe]

11/1/11

Time for an update in my efforts to make my fortune by searching through coins looking for silver. I've blown by my $1000 of silver goal with these finds to date:

129 wartime nickels 1942-1945, 35% silver worth 1.87 ea. = 241.23

333 silver dimes 90% worth 2.41 ea.---------------------= 802.53

--2 silver quarters 90% silver worth 6.02 ea.-------------= 12.04

103 half dollars 40% silver 1965-1970 worth 4.92 ea------= 506.76

18 half dollars 90% silver 1964 or earlier worth 12.04 ea.----216.72

----------------------------------------------------Total $1779.28

Face value of above coins is $100.75

This does take some time and effort as I've searched 220,000 dimes. Under normal circumstances you'll find 1 silver dime for each 1900 you look at. I've been fortunate to find 2 what I call "motherloads" that accounted for 230 silver dimes.

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