any hardcore silver buyers here?

Discussion in 'The Club House' started by mountainman13, Jun 25, 2012.

  1. mountainman13

    mountainman13 New Member

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    I'm contemplating buying a small amount of silver on my credit card. I have a high apr. Has the upward trend been enough to cover say 30% interest?
     
  2. vincent

    vincent New Member

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    I've contemplated that myself...the silver, not the cc question. I betcha BKT could give you good advice when he sees this thread...
     

  3. mountainman13

    mountainman13 New Member

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    Yeah I haven't really been following the prices so I don't have a clue on the short term investment value. I just know its better than having a safe full of dollar bills and less likely than gold to be confiscated by the feds in a shtf scenario.
     
  4. c3shooter

    c3shooter Administrator Staff Member

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    No. If you had bought 4 years ago, yes. Price has declined. While holding some silver is a good idea (I happen to like American coins) buying them and paying 30% interest is a losing deal.

    You can try this for VERY little money. Visit banks and credit unions, and ask for ROLLS of half dollars. Take them home, carefully remove, keeping wrappers intact. Look thru them check for 1964 and earlier and 1970-1965.

    Here is why- Prior to 1965, US dimes, quarters, halves and dollars were 90% silver- in 1965, the US pulled silver from it's coinage- EXCEPT- half dolars remained 40% silver until 1970. Those are worth $4.05 each at today's prices. No good ones? Return the orinary halves to the wrappers, cash them in at another bank.

    What are US coins worth for the SILVER? http://www.coinflation.com/silver_coin_values.html

    This is NOT any collector's value a coin may have.
     
  5. mountainman13

    mountainman13 New Member

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    Cool. Thanks for the info. I figured I was asking for too much of a return. It would only be viable if we had a total economic collapse. God forbid
     
  6. Gonzilla

    Gonzilla New Member

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    Try stock symbol FCX they own some gold mines but primarily copper. Price is way down right now but could shoot up and double w a nice dividend approx 3.4% while you wait. Just another way to invest in precious metals and I am rather fond of dividends...:D
     
  7. 44ablast

    44ablast New Member

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    I was buying silver on a regular basis for about a year and the prices were going up, that was a good thing. I think it hit 46$ per ounce at one time
     
  8. mountainman13

    mountainman13 New Member

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    I've done well in stocks in the past. While everyone was loosing their shirts I more than quadrupled my money. If I were to invest in stocks right now they would be all foreign. Chinese money and products sadly.
     
  9. 44ablast

    44ablast New Member

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    Woops hit the wrong button. As i was saying after it hit the 46$ mark two investment firms dropped 10 tons back into the market and that pretty much was the end of the silver rush,:eek:(
     
  10. mountainman13

    mountainman13 New Member

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    It sounds like a good time to buy to me.
     
  11. MrWray

    MrWray New Member

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    I have a few coins, i would like a ton more.

    20120625_190152-1.jpg
     
  12. mountainman13

    mountainman13 New Member

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    Nice I'd like one of those stacks in troy ounce silver coins.
     
  13. MrWray

    MrWray New Member

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    That would be sweet :)
     
  14. mountainman13

    mountainman13 New Member

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    Yeah I was talking to a buddy of mine a few months ago and he said he was getting them for like $25 a coin. If/when I can swing it I think $200 worth would be a good start.
     
  15. ellwood45c

    ellwood45c New Member

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    I have been doing the bank thing for about five years now been doing ok. I got to looking into small town banks alot more here latley. I'm in indiana and have been looking at areas with omish or dunkards. The tend to have alot of old coins on hand still. I happened on a gas station were the elderly lady a couple people ahead of me got $60.00 in gas. She paid with rolls of quarters, after studying the wrappers and listening to the teller complain about all those quarters i bought the. They were 6 rolls of silver quarters in original mint wrappers. I couldn' believe my luck, once in a liftime happening. I have had alot of good offers but just cant bring myself to part with them. I was told about 5 months ago they were worth about $6.15 each, but who knows maybe more in the future.
     
  16. mountainman13

    mountainman13 New Member

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    C3 posted a link with some values. They may be listed if you want to back track to it.
     
  17. MrWray

    MrWray New Member

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    My wife is an asst manager at one of the Murphys gas stations by where we live. Since the economy has been rough, some people will occassionally pay for gas or tobacco with silver dollars. I tell her to buy everyone that she sees.
     
  18. texaswoodworker

    texaswoodworker New Member

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    c3, I'm going to try that tomorrow. Do many banks actually have half dollars, or is it hit and miss?
     
  19. MrWray

    MrWray New Member

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    My ex wife works at a bank, she has told me that getting silver coins from them is VERY hit and miss. She said that the reason why is because the bank employees buy them up as soon as they get them. Larger banks may be different though
     
  20. JonM

    JonM Moderator

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    i would honestly wait until after the november elections. its very very likely the bottom is going to fall out of precious metals if obama loses. less of a drop if the supreme court upholds or only partial removes obamacare.

    political uncertainty is the only thing driving the price of metals atm.

    i think a lot of people are going to get burned bad if obamacare is repealed and obama loses the presidency