Question About Silver Coin

Discussion in 'Money, Investing & Precious Metals' started by Jeani, Jun 9, 2010.

  1. Jeani

    Jeani Member

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    I just bought a silver piece from Apmex by computer/mail.

    It's .999 Fine , one troy ounce of silver.

    Since I know 'nothing' about gold/silver, did I make a wise choice?

    I notice it has 'Apmex' on the back of the coin.

    Does that hurt the quality of the coin?

    I notice Apmex is advertize on this forum,and what is your thoughts about Apmex?

    I got Apmex from a Christian article that highly recommended them...

    Thanks....
    ~Jeani
     
  2. NaeKid

    NaeKid YourAdministrator, eh?

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    Automatic advertisements in the GoogleAds there. The advertisements are based on your internet cache - meaning that if you are surfing for sites looking for information on silver, the advertisements will be about silver. If you are looking at dating sites, the advertisements will all be dating-related.

    Now, if you internet cache is "cleared" after every session, there will be nothing for the Google-advertisements to work off of - so - the ads will be all related to what is on the current page. You may see sites about silver and dating in the boxes below.
     

  3. sailaway

    sailaway Well-Known Member

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    I would pick up a copy of Coin World and go to some coin shows in your area. Get an education before you start buying. Personally I would lean toward U.S. Coins, they can be easilly spent and traded.
     
  4. bunkerbob

    bunkerbob Supporting Member

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    I agree with sailaway, US coins are easily identifiable, other silver bullion whether coinage or bars aren't. I usually buy junk or non-collectable silver coins from established coin shops. Junk or not the percentage of silver never changes. My last buy was half dollars same percent but was cheaper that dollar coins per face value.
     
  5. firemanjim478

    firemanjim478 New Member

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    I would check on amazon.com for coin books. Look up this seller, Jimmywarhorse , he is from Ohio. He has brand new 2010 Coin World books at a great price. Also watch Ebay, type in the search window "silver 10" this will show you 10 troy ounce bars to bid on. If you want smaller 1 ounce bars , just adjust your search to "sliver 1" . Buy when the market is down and store them for when you need them...... Jim
     
  6. Jeani

    Jeani Member

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    If the dollar falls, do you think any 'silver' or 'gold' will be used?

    Will the government take all of our silver and gold?
     
  7. AlaskanWilly

    AlaskanWilly Member

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  8. nj_m715

    nj_m715 www.veggear.blogspot.com

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    Silver is at record levels and no one's talking about it?

    I put a few dollars into US silver coins over the summer. Most of it was war nickels. I could get them much cheaper than 90% coins.
     
  9. The_Blob

    The_Blob performing monkey

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    now if you could juuuuuust find a 1943 copper penny... OR a 1944 steel one! :D
     
  10. nj_m715

    nj_m715 www.veggear.blogspot.com

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    I don't enough about coins to know what's rare. I just know the basics, pre '64 silver and some 40% commemorative coins, war nickels etc. I use the coinflation site to know if I'm buying at a good price.
     
  11. bstickler92

    bstickler92 Well-Known Member

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    if you are going for copper, pre 1983 pennies are solid copper and worth more than $0.01 than their weight in copper. i'm interested in silver coins from a collector's stantpoint, i've got an 1881 morgan and a couple recent ones. any silver coins you all would recommend as a better investment?
     
  12. nj_m715

    nj_m715 www.veggear.blogspot.com

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    The pre '83's are 95% copper, 5% zinc, but I guess I'm splitting hairs now.

    I think most guys here are looking for "junk" silver coins for their scrap/barter value. If things get bad and you had to trade a silver coin for something that you need, I doubt anyone will care how rare your coin is. They will only care about it's weight in silver.

    I have a few war nickels (35% silver) and some pre '64 dimes and a couple quarters.
     
  13. The_Blob

    The_Blob performing monkey

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    exactly right... of course with the mindset here, my advice is usually to sell the 'valuable, rare' stuff now so that you can get the 'barter' stuff for the future
     
  14. Clarice

    Clarice Well-Known Member

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    I don't trust the government not to confescate any PM. As with any other prepping, do it quitely. I visit pawn shops & flea markets, go to estate sales and auctions. Always pay in cash. I do not order anything over the web using a credit or debit card. You can print your order and send it along with a money order.
     
  15. Victor23

    Victor23 Well-Known Member

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    I have found some of the vendors in the flea markets to be quite reasonable. Silver eagles will run about $2 over spot prices. I am a fan of "junk silver". that is the Pre-65 silver coins. 64 and earlier coins are 90% silver. If you stop by one of your local coin shops and buy a little each week, you will be amazed at what you accumulate over time.

    No one knows the future but if the election does go well in 6 weeks, Silver and gold will most likely continue their climb.

    There was recent article that I read about Sen Weiner and one other senator that wanted to have hearings on Gold sales. Apparently, the purchase of precious metals has cut in to the buying of treasuries so the Govt can't finance thier debt. I tried to find the link.
     
  16. Victor23

    Victor23 Well-Known Member

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  17. nj_m715

    nj_m715 www.veggear.blogspot.com

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    My local coin shop wants to pay 1/2 of spot and charge 1.5 spot price. I had to bite my lip not to laugh. I thanked him for his time and walked out. I found most of my stuff on ebay, but I alway pay under spot to make for the shipping.
     
  18. Victor23

    Victor23 Well-Known Member

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    That coin shop wont stay in business very long. I understand the need to make a profit but that is theft. IF silver is 14 times face value, I can understand paying 13 times face to a customer and reselling at the 14. He has to pay rent and utilities but the above example is very upsetting. Vote with your feet.
     
  19. The_Blob

    The_Blob performing monkey

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    wow, what a thief... of course MANY people are ignorant; and there is always the criminal element to do business with... low-mid level value collectible coins have always been near the top of the list for burglary/fencing because they are so hard to track and/or prove stolen.

    as a buyer/seller (of many things) I can tell you that unless you are dealing in volume buying something for x & selling it for 2x is pretty standard, any more & you risk going out of business because you'll get a reputation for robbing people (deservedly so), any less & you risk going out of business due to lack of revenue... don't forget people, vendors have overhead costs and assume risks that the customer doesn't and THAT is why there is a vendor price & a retail price... DON'T want to pay retail (like me) buy a local vendors' (county) license for $25 (fees vary) & delve into the distributor & auction 'trades'. Many shows/swap meets/flea markets etc etc have their own vendors' licensing that will allow you to sell there even if it isn't your county or even state.
    I mark down my prices a mere 10% below MSRP (or 'book value') & never fail to sell my inventory in a timely manner, but then again I only sell wares I'm intimately familiar (product & customer base) with
     
  20. nj_m715

    nj_m715 www.veggear.blogspot.com

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    I understand the man needs to make a profit, but I agree with you guys and that's why I left. He seems to be doing well, the shop has been there forever. I guess an uneducated person would jump all over 10$-12$ per oz. if they didn't know it's worth $20.

    I use coinflation to get the spot price and these guys have a good example of what I would consider a fair mark up 90% U.S. Silver Coins They show the spot price and their buy and sell prices right on the site.

    I can't see him asking well over spot when I know he paid well under spot and most likely it's silver that has been sitting on for months or yrs so he may only have $5-10$ per oz into it. He can pound sand. I spent almost $2,500 on ebay this summer. By carefully shopping I was paying about $15 per oz. He could have had all that business if he wasn't greedy. Oh, well. His loss and I probably made out better. It just took time looking for the deals.