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RE: AREA51.fm "Reporting from Roswell" alt news podcast with Guy Malone has moved to STEEMIT
Hello ibringawareness, are you into coins ??? ( I got this impression from the above post contents ? )
Hello ibringawareness, are you into coins ??? ( I got this impression from the above post contents ? )
Not coins per se, but I consider Silver and Gold to be honest money, that can withstand crises, and therefore good to have. That's why I feel good linking to a reputable dealer. Thanks for asking, and sure, I'll take all you want to send me, haha ;)
Silver and Gold are never ever a good buy. These are the most reliable proven forms of money of value for hundreds or thousands of years.
Thus these in demand items are always overpriced. If I want to exchange fiat currency I will buy at one price and sell at a few cents less, there is never an 'even' swap.
To buy things on credit cards is even worse since they charge the transaction fees plus their own slightly different exchange rates. With precious metals it is the same deal, buy lower and sell higher...
Millions of Americans buy the one ounce Silver American Eagle $1 coin, a terrible terrible investment, you get the privilege of buying US$25 worth of one ounce of Silver for $35, 45, 55 even $65 (estimating those prices if Silver were really worth $25...)
However each year hundreds of millions of identical coins are minted; put another way, simply having the year 2010 stamped on your coin instead of 2011 is very unlikely to help this identical lump of slag Silver metal maintain that price point premium.
Why would millions of identical coins increase in value; the answer as the US Mint never reveals is that 99% of those coins cannot. That is why all marketing says 'keepsake', "heirloom", 'pretty coin' or other meaningless terms to promote jump metal. The term they never use is investment, to suggest these coins as actual investments they know will land them in court.
Many coin dealers in the past described coins as investments and were convicted, the US Mint chooses not to go down that roadway. The smart money way to buy Gold or Silver (which is almost never worth buying) or Platinum is as artwork [ as I mention in a different post ].
Crazy rich people will always have money to buy perfect rare or scarce works of gorgeous art; whereas many people often do not have money to buy food.
I myself choose to buy ultra scarce small portable coins in perfect condition that are likely to appeal to future buyers. There are difficult strategies to buy investment coins, but in the past I trade in trading cards and own some of the rarest cards in the world, each sells for thousands and thousands of dollars.
But with any learning curve the learning phase was painfully hard and expensive to learn. This is why I try and work with other in steemit so the learning curve is faster, more efficient and less painful...
Anyways I am sure i will see you on the BlockChain : )
/ hugz ; )
Totally agree with you on the "marketing" bs aspect of coins, I own/buy bullion only, like rounds and such. Not much of course, I am a waiter for a living after all. But I also agree that perfectly minted coins is a great investment if you can afford to speculate on numistic value. I can't, and also I'm not disciplined enough to keep them in good condition long term, and I've even LOST the 1/10th gold Panda I bought awhile back at spot, just own one iece of gold, haha!
Ultimately tho, gold and silver are like baseball cards and comic books - they are worth what you can get for them, from someone who wants them badly enough. All else is specualtion and marketing. I like and recommend silver for bartering in emergency situations especially tho.