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View Full Version : Some newbie ??'s about silver market



Little Ant
21st January 2008, 09:33
OK, I'm new to silver investing but I would like to buy a $250 face value 90% bag with some money I have saved. I see that AMPEX has a quote right now at $2809.16 and $19.95 shipping. I really am trying to prepare for economic hard times ahead. I'm a single parent to 3 kids and have eliminated credit debt. Only a few payments left on car and have a very small mortgage payment with balance <$25,000. I've stocked the pantry etc. so now I see this as my next step.

Anyway, what are your thoughts on the next few days and weeks? Not sure if I should wait for a correction or if this is as low as it gets. I am trying to do as much research on the market and silver in particular though there is of course alot of conflicting info. Any advise on good avenues for learning is greatly appreciated.

goldminer
22nd January 2008, 15:00
IMO having some 90% is always smart business. You might want to check local dealers and the calendars for upcoming gun and coin shows in your area. Do a google search. Dealers at coin shows usually have bullion and not infrequently, bullion can be seen at gun shows.

If you can trade your FRNs in person cash and carry, there's no electronic or paper trail created that reports you have the coins, and many times dealers at these shows sell at or even below APMEX prices so shipping and insurance is saved.

You just have to shop around and get the best deal you can find...and 90% dimes, quarters, and half-dollars give the most silver per FRN traded.

strawman
5th February 2008, 20:42
Reply With Quote "...and 90% dimes, quarters, and half-dollars give the most silver per FRN traded."

Are you sure about that? Wouldn't some .999 bullion give more value?

Little Ant
6th February 2008, 07:14
Thanks for the suggestions. I ended up buying $250 face value of 90% halves when the price got down to $15.55. Since then I've been checking out SAE's and have started buying a few here and there. There's a coin show this sunday so I'll go there and see what I can pick up.

wolf1929@bellsouth.net
6th February 2008, 17:31
The Denver Mint is actually producing the Amero. I've seen it and my coin broker has one. Take that together with the neoconservative 'big picture' and I do believe these boys are going to destroy the dollar, tell the gullible public the only way to save the day is with a new currency backed by silver and/or gold, then set about confiscating all gold and silver bullion.

This being a rich man's sport, numismatic coins will probably be passed over in the confiscation. It should take years (anyone's guess how long) for gold and silver prices to reach mania stage and at that point you have to convert to something else anyway because you cannot get caught holding precious metals at the top as the market begins to fall.........again, anyone's guess.

The point is Homeland Security is now online with all dealers in precious metals and books will be opened; bullion purchases will be persued. In my opinion.......which is very limited as I am not an expert...........it seems numismatic coins are a better choice in the current atmosphere.......

strawman
6th February 2008, 18:24
Fear of confiscation has been used as a way to steer the general population away from the precious metals and into the 'safe' investments of the stock market, t-bills, etc. IMO the next time the People have to rely on PM's as a means of survival, the country will already be in such a dire state that the people will rely on that 'other precious metal', lead, to keep what they've got.

silverstash
7th February 2008, 18:55
Someone told me today that if we were in a confiscation phase, that it would be illegal to confiscate foreign coinage. So canadian silver or perhaps panda's........etc. Can't say one way or another, but I'll pass this heresay on.

goldminer
7th February 2008, 21:53
"Reply With Quote "...and 90&#37; dimes, quarters, and half-dollars give the most silver per FRN traded."

Are you sure about that? Wouldn't some .999 bullion give more value?"


Statement is based in the fact that non-government struck .999 generally trades at .50 to .75 over spot vs. spot for 90%.

More for your FRN = more bang for your buck with 90% for reasons that need to be weighted and accorded value. Firstly 90% coins are government struck. This means they enjoys legal tender status, have unquestionable authenticity and legitimate government guarantee re Ag content and purity, and subsequently are more liquid.

Further, 90% served as currency at one time and can serve in that capacity again. The coins are difficult to counterfeit, are easily recognized and readily accepted, and offer small amounts of Ag that will provide a means for trades/transactions of items of relatively small value...yet can also be stacked to provide a greater total value.

These things can not be said about .999 rounds and bars....and government struck 1 oz. coins may well have too much value to use in small value exchanges in 10-20 years when the price of silver is through the roof.

Just my 2-cents.

prahudka
10th February 2008, 00:56
people will rely on that 'other precious metal', lead, to keep what they've got.

Spoken like a true alchemist. :wink:

However, I am not sure lead for depleted Uranium would be such a good trade.

prahudka
10th February 2008, 01:04
Someone told me today that if we were in a confiscation phase, that it would be illegal to confiscate foreign coinage. So canadian silver or perhaps panda's........etc. Can't say one way or another, but I'll pass this heresay on.

You could get gold for Indian scalps in Hackensack in the 17th century. Infants fetched somewhat less than adult warriors.

I think they can do just about whatever they want to do.

strawman
10th February 2008, 16:06
Spoken like a true alchemist. :wink:

However, I am not sure lead for depleted Uranium would be such a good trade.

Die on your feet or live on your knees.

chux03
5th March 2008, 16:25
They'll get my silver and gold when they come to get my guns.....NEVER. I read an interesting story about the last time they confiscated gold right before WWII. It seems some scholarly estimates of the actual gold confiscated at about 20%. They found the sure bet for confiscation, should it ever come to that again, would be for them to start emptying safe deposit boxes located in banks and credit unions, which it seems some federal law gives them the O.K. to do that. But to actually come around knocking on doors wanting your guns and precious metals...that could happen. And they'll knock on the wrong door and get some of that previously mentioned semi precious metal in a warmed up stage....hot lead @ about 4k ft per second on a collision course with...history.