My Unexpected Foray Into Silver Coin Investing
You know what they say in investing, when no one else wants it - it's time to buy!
That is kind of what is going on with silver, there is no buzz about it. The masses aren't investing in it and it's near the bottom of it's historical price range.
Diversification Continues...
Decided I wanted to get some exposure to silver a few months ago, the plan was to cash out a little crypto to make some long-term investments in silver miners.
Then I got a phone call from an old day trading buddy who needed to raise a little capital. He was selling off his silver coin holdings.
Coins wasn't the initial route I was looking to go, but having actual silver is probably a good idea as part of my silver exposure. Plus, he was selling them at a discount to current price to get quick easy cash.
He had an assortment of coins and of course I decided to go with the Australian ones, because apparently I love everything Aussie.
Pic of One of the Coins
Grabbed 25 coins in total for $1K; so $40 a coin, which I was happy with since the cheapest I could find them from a dealer was $59 and they were out of stock to boot.
Not a huge investment, but it's a start. I really wanted the gold coin he had worth about $3,500! If only he had called me a month ago when crypto was 50% higher..lol!
Anyway, time to put these in the safe deposit box and forget about them until the price of silver doubles :-)
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
I was literally JUST telling my roommate he needs to start buying silver bullion. The market is coiled like a spring and ready to jump in the next year or two tops.
It was double this price in 2011 and I fully expect $50/oz in the near future. Remember prices are being kept suppressed by PAPER trades, so only stock on on physical metals ok :)
Did you comment on my post, then upvote your comment, but not upvote the post? Say it ain't so!
Oh lookit you with your fancy graded Aussie silver coins - haha XD
Glad you got into some silver as I know you were pining to invest in this sector for a few weeks now. I really should get on my article where I lay out my top 5 or so silver miners for the year. Maybe tomorrow.
The to do list is ever growing my friend! I only bought about half of what he had, probably should have grabbed all of it, but not feeling as crypto rich as I was a month ago LOL.
Next to crypto, silver is the thing that interest me the most as far as investing goes. It's a solid buy that will always have some value, and you can carry the coins with you if the apocalypse comes and you need some kind of currency everyone accepts. ;)
I'm confused. The price of silver is less than $20/oz but you paid $40 each for 1oz coins?
you always pay a premium over spot price for graded semi numismatics like the coins he is showing
Up voted Very well put articleGreat job
Haha - I thought from the headline that "silver" was a new ICO i hadn't heard about yet...
Haha, give it a week....I'm sure someone has the ICO brewing ;-)
Smart move, I'm a huge fan of Perth mint coins. Look into the Lunar coins in the odd weights. I found a way to stack silver at wholesale prices and collect MS 70 coins and make money doing it. http://mtbus.com/mintbuilder/869731.html its a way to become your own mint.
Nice, thanks for the info.
Good investment, Will always have value. Besides nice to look at.
WAit, I want to see these before you put them away!
They are still out. I probably should have bought more, he had more. Why can't steem be at 7 when I need it too lol
I think is a good choice to diversify your portfolio. Cryptocurrencies looks promising but nobody knows what will happen