TO ALL - I have a theory on the potential of Numismatics that I have shared in my most recent video "Numismatic silver vs silver bullion" And I want to hear what other people think about it.
So anyone who would visit my video and give me your thoughts on it I would really appreciate the feed back, cheers.
in the states there is a law that prohibits the melting down of US coins because the metal value of pennies and nickels are higher than the face value of the coin.
Late comment, but about your mention of impatience. I just want to add, we once had silver money, they are trying to trick us out of it yet again. Silver going down is local currency (USD) going up, and vice-versa. All currencies fail. If you've bought silver, you've lost lost nothing in purchasing power.
Regarding negativity and impatience: Silver (and gold) is real money. It's a store of wealth to keep from getting screwed by inflation. Will Rogers once said, "Im not so much interested in the return on my money as I am the return of my capital."
Regarding the negativity, I have been at this since the beginning of 2008. You need to have a time horizon of at least 3 years with silver. The market seems to have lost momentum, bit this can be back very fast when the next shoe drops or gold blasts through 1000 USD. The manipulation and the volatility has this wearing down effect if you watch the price all the time, especially when silver tanks, which it often does. This is all part of the game, you just have to endure.
Check out the Swiss coins e.g. 5 Francs before 1967. They contain 12.5 grams of silver and you pay about 6 or 7 bucks for it. And they have still the nominal value.
My state of California is goin' nuts!! (I.O.U.'s???) LMAO!!! I don't know about my fellow Californians but i'll survive off of my junk Silver because there's NO WAY --that Stores will accept that I.O.U. CRAP!!
And to those that are selling or that's "Thinking" about selling their Silver.. "I'M BUYING!!" haha
I haven't bought much silver for a while (had other things to buy/save for), I never got into it expect big money, I just like the stuff and want to diversify/hedge my (very limited) assets. The short term fluctuations are irrelevant so I don't keep track of them much or worry about it.
Hey someweirdgayguy, personally I recommend some in bars and bullion coins, and some in junk, but everybody has a different strategy. My other videos have some info/opinion on it, as well as stellaconcepts and davincij15.
thats exactly what got us in this economic mess, everyone wants the bimmer and 3 bathroom house even when they can't afford it lol, now ppl are slowly waking up to reality and that u just can't print money without having massive effects on the rest of the economic environment...
drutter thats part of the problem in the world, ppl want everything NOW and they will slowly realize things don't work like that, silver is a long term investment, if u can't hold it for 20 years don't bother becoming a silver surfer.
Yeah MzProgressive, that sounds about right. If you pay attention and are good at eBay you can probably get a haul like that for $45 or even $40 with lots of patience. But a few bucks isn't worth missing out completely on getting the metal in your hands of course :)
Hey wait, two rolls of dimes? Each roll has 50, right? So 100 dimes, that would be almost $100 at spot. I guess you meant one roll of dimes.
17 dimes of 90% silver like pre 1964 US = 1 troy oz so 2.94 troy ozs per roll @ 13.35 spot = $39.26 so a $50 a roll price would equate to approx $5 above spot per oz
OH, I didn't know that....so the "Melt Value" is adjusted for 40%...I get it...don't plan on Ever selling my Junk anyway I have 11 troy pounds, mostly US some Canadian:) I love the Mecury's they are my Favorites, I also like the Bens and the 90% JFKs
Not sure what you mean by 40%, but yes, the melt value of a coin is the value of the metal contained, should you melt it and separate it. So it includes half a cent or so worth of copper in most cases, but in silver coins almost the entire melt value is due to the silver.
Never going to sell? What if silver hits $300 this winter? ;)
Still won't sell....in case I need Intergalactic barter chips...lol The Melt value of coins is also based on % of silver...mine is mostly 90%, I have a few 40% Kennedys but all my dimes and quarters are 90%...I dont know the Canadian junk percentages...thanks for the coinflation tip.
if one looks back through the Kitco Ag & Au forums they will find people crying about silver not going to da moon years ago using the same arguments one uses today.
You must remember most numismatic old coins that equal a dollar, do not equal one once of silver, and 1 troy ounce of silver is about 32 to 33 grams which is slightly over an ounce. combine the fact that numismatics are mostly 90% silver content. for exp. 2 walking liberty halfs are 12.5 grams a piece at 90%, which makes them .79 oz silver or 21% below spot.
Hey, since you are talking about the walking liberties you must be from the US. in the US dealers use the fornula spot price x .715 x face value of coin to determine the price you pay. so where silver is now (about $14) a half dollar is worth $5, a quarter $2.50, and a dime $1 or $1.10 sometimes. so when you buy your 2 half dollars you should expect to pay $10 (for lower/average quality coins) so for your .79 oz. of silver you are not paying full spot price (hopefully) :)
Coininfo (dotcom) has a running spot price ticker (as well as PM price ratios), and updated pricing on most common coins and bullion based on current spot (in USD). I keep it up in a dedicated window. They also have a link to a news page which features PM and related economic news features. I highly recommend it. =^[.]^=
I checked out price on a bag of "junk" dimes coupla weeks ago - $1,000 face value, dealer wanted close to $10K (ouch!!) Of course they'd sell split bags but with additional surcharges.
Great advice Drutter, especially regarding the negativity. The only downside to the low prices is I dont have any money to BUY BUY BUY as I have put all spare cash I had into the stack. Now would be a great time to be starting a stack.
I hear ya! I was there a couple months ago, during a pullback and I had not a cent to put into it. Luckily I managed to get a hold of some dollars and take advantage of the low prices recently, which I'm thankful for.
Even if you can get $50, get 2 or 3 nice shiny Maples, or go to eBay and bid on some junk silver lots.
Hell, cancel your cable bill and spend it on silver. Two birds, one stone! :p
Yeah, maybe there's some kind of conspiracy going on BEHIND the conspiracies! :-O
In all seriousness, I dunno. I saw Davinci and Stella both drop videos earlier today, and since it's Canada Day and I'm not doing anything, I decided to slap one together also. :)
Hopefully we've provided you with information and smiles.
My Pappa gave me some:-) If you need to strengthen your position in Silver, why not diversify, makes sense and it is easily recognized as well, not to mention it's good to use as smaller trading units for potential Barter i.e. quarters/dimes and such!
in the last silver rush, you never got paid as much for numismatic because of the process required for refining. You will get good premiums for 999 if history repeats and you may be cutting yourself short if you get too much numismatic... dont get me wrong - i have both... but just be aware - you might not extract full value for your silver down the line.
Good point John. Perhaps the cost associated with separating the silver from the copper is why junk silver can be purchased for spot - even lower than spot at times.
That said, maybe the copper content will have some value of its own, helping to offset the cost of separating the mixture of metals?
it wasnt so much the content of the silver, it was that there were huge backlogs at refineries when people were selling their silver in the last silver rush (early 80's) - some reports say there were stockpiles of up to TWO YEARS at some refineries so the price for numis when way down (compared to 999 fine where there was no refining required and that could be sold right on to industry).
My numis are more for insurance against total collapse.
junk silver = street transactions. low weight in hyper-inflated economy. or as in Argentina(crash) or Mexico City show bling lose thing... attached. Easy transactions and non-flammable too!
Great video Drutter...I am huge fan of numismatic silver..Thanks for adding value!
soumangue 6 months ago
I found a couple of silver quarters when I was working as a cashier at Tims. Safe to say they accidentally ended up in my pocket.
DunbarConfederalist 11 months ago
TO ALL - I have a theory on the potential of Numismatics that I have shared in my most recent video "Numismatic silver vs silver bullion" And I want to hear what other people think about it.
So anyone who would visit my video and give me your thoughts on it I would really appreciate the feed back, cheers.
Excidium567 2 years ago 2
there is only 1 problem with numis. silver
in the states there is a law that prohibits the melting down of US coins because the metal value of pennies and nickels are higher than the face value of the coin.
law in effect since 2006
kfrogs13lover 2 years ago
Yeah well there's a law against going more than 30mph on most streets, too. ;)
drutter 2 years ago
haha yes but you cant disagree that the law does create a problem when you are collectiing numismatic/junk silver.
i stick mostly to cheaper 1 ounce rounds and some government issued rounds
kfrogs13lover 2 years ago
Late comment, but about your mention of impatience. I just want to add, we once had silver money, they are trying to trick us out of it yet again. Silver going down is local currency (USD) going up, and vice-versa. All currencies fail. If you've bought silver, you've lost lost nothing in purchasing power.
odinmage 2 years ago 2
Regarding negativity and impatience: Silver (and gold) is real money. It's a store of wealth to keep from getting screwed by inflation. Will Rogers once said, "Im not so much interested in the return on my money as I am the return of my capital."
sizzlot 2 years ago
Regarding the negativity, I have been at this since the beginning of 2008. You need to have a time horizon of at least 3 years with silver. The market seems to have lost momentum, bit this can be back very fast when the next shoe drops or gold blasts through 1000 USD. The manipulation and the volatility has this wearing down effect if you watch the price all the time, especially when silver tanks, which it often does. This is all part of the game, you just have to endure.
wildpett 2 years ago
Check out the Swiss coins e.g. 5 Francs before 1967. They contain 12.5 grams of silver and you pay about 6 or 7 bucks for it. And they have still the nominal value.
qminusis 2 years ago
Cool, thanks for the tip qminusis, I'll have a look for some of those. :)
drutter 2 years ago
When Silver gets low it is time to buy more, when it goes up its time to buy more. I hope it drops to 5.00 First
silverbuyer 2 years ago
wish you could get spot price silver anything here in the UK!!!
ev06dre 2 years ago
My state of California is goin' nuts!! (I.O.U.'s???) LMAO!!! I don't know about my fellow Californians but i'll survive off of my junk Silver because there's NO WAY --that Stores will accept that I.O.U. CRAP!!
And to those that are selling or that's "Thinking" about selling their Silver.. "I'M BUYING!!" haha
PM me..
PEACE.
IIIJHUSSLEIII 2 years ago
Patient everyone silver will rise The US economy is going down. Everyone is predicting a 10:1 ratio for gold to silver again but it may take a year.
sljs1010 2 years ago
I haven't bought much silver for a while (had other things to buy/save for), I never got into it expect big money, I just like the stuff and want to diversify/hedge my (very limited) assets. The short term fluctuations are irrelevant so I don't keep track of them much or worry about it.
shaurz 2 years ago 2
You're not along...
IIIJHUSSLEIII 2 years ago
me too i can put away a few grand and just let it sit, if it goes way lower i'll just buy a few more grand, no biggie
solojam 2 years ago
When I can start getting my financial life on track, I'm planning on investing in silver and gold for my retirement.
Should I buy it in bars and what are the advantages to silver over gold?
Or do you have videos addressing this very thing?
someweirdgayguy 2 years ago 2
Hey someweirdgayguy, personally I recommend some in bars and bullion coins, and some in junk, but everybody has a different strategy. My other videos have some info/opinion on it, as well as stellaconcepts and davincij15.
drutter 2 years ago
thats exactly what got us in this economic mess, everyone wants the bimmer and 3 bathroom house even when they can't afford it lol, now ppl are slowly waking up to reality and that u just can't print money without having massive effects on the rest of the economic environment...
solojam 2 years ago
drutter thats part of the problem in the world, ppl want everything NOW and they will slowly realize things don't work like that, silver is a long term investment, if u can't hold it for 20 years don't bother becoming a silver surfer.
solojam 2 years ago
Nice to hear from you Drutter!
So, would you say $50 for two rolls U.S. silver dimes is a fair price right now? (Seems to be average bid on Ebay)
MzProgressive 2 years ago
Yeah MzProgressive, that sounds about right. If you pay attention and are good at eBay you can probably get a haul like that for $45 or even $40 with lots of patience. But a few bucks isn't worth missing out completely on getting the metal in your hands of course :)
Hey wait, two rolls of dimes? Each roll has 50, right? So 100 dimes, that would be almost $100 at spot. I guess you meant one roll of dimes.
drutter 2 years ago
if it's a US Dime roll 17= 1toz so $40 bucks per roll would be spot $50 bucks per roll inc shipping would be a very good deal, imo
CosmicDramaQueen 2 years ago
YT keeps eating my comments! ARG!
CDQ, what do you mean by 17?
Here in Canada a roll of steel dimes has 50 and is worth $5. A roll of silver dimes (nearly ten times the value of steel) would be worth almost $50.
drutter 2 years ago
17 dimes of 90% silver like pre 1964 US = 1 troy oz so 2.94 troy ozs per roll @ 13.35 spot = $39.26 so a $50 a roll price would equate to approx $5 above spot per oz
CosmicDramaQueen 2 years ago
Oh, interesting. Perhaps a simpler calculation is 50 dimes x $0.965 per dime = $48.25 :)
coinflation. com/silver_coin_values. html
drutter 2 years ago
Must have a slightly higher Melt value;-) over Spot that is.
CosmicDramaQueen 2 years ago
No, "melt value" is the spot price of the metal contained in a coin.
So anyway, the metal in a roll of dimes is currently worth $48.25 so $50 is certainly a good price, especially since it includes shipping.
drutter 2 years ago
OH, I didn't know that....so the "Melt Value" is adjusted for 40%...I get it...don't plan on Ever selling my Junk anyway I have 11 troy pounds, mostly US some Canadian:) I love the Mecury's they are my Favorites, I also like the Bens and the 90% JFKs
CosmicDramaQueen 2 years ago
Not sure what you mean by 40%, but yes, the melt value of a coin is the value of the metal contained, should you melt it and separate it. So it includes half a cent or so worth of copper in most cases, but in silver coins almost the entire melt value is due to the silver.
Never going to sell? What if silver hits $300 this winter? ;)
drutter 2 years ago
Still won't sell....in case I need Intergalactic barter chips...lol The Melt value of coins is also based on % of silver...mine is mostly 90%, I have a few 40% Kennedys but all my dimes and quarters are 90%...I dont know the Canadian junk percentages...thanks for the coinflation tip.
CosmicDramaQueen 2 years ago
Hehe, yeah that's all calculated in on the coinflation site. Pretty handy :)
intergalactic barter chips lol :D
drutter 2 years ago
if one looks back through the Kitco Ag & Au forums they will find people crying about silver not going to da moon years ago using the same arguments one uses today.
halfasheep 2 years ago
You must remember most numismatic old coins that equal a dollar, do not equal one once of silver, and 1 troy ounce of silver is about 32 to 33 grams which is slightly over an ounce. combine the fact that numismatics are mostly 90% silver content. for exp. 2 walking liberty halfs are 12.5 grams a piece at 90%, which makes them .79 oz silver or 21% below spot.
strawjam59 2 years ago
Hey, since you are talking about the walking liberties you must be from the US. in the US dealers use the fornula spot price x .715 x face value of coin to determine the price you pay. so where silver is now (about $14) a half dollar is worth $5, a quarter $2.50, and a dime $1 or $1.10 sometimes. so when you buy your 2 half dollars you should expect to pay $10 (for lower/average quality coins) so for your .79 oz. of silver you are not paying full spot price (hopefully) :)
kfrogs13lover 2 years ago 2
That one goes to you strawjam59
kfrogs13lover 2 years ago
Coininfo (dotcom) has a running spot price ticker (as well as PM price ratios), and updated pricing on most common coins and bullion based on current spot (in USD). I keep it up in a dedicated window. They also have a link to a news page which features PM and related economic news features. I highly recommend it. =^[.]^=
Raycheetah 2 years ago
I appreciate that bit of info!
I checked out price on a bag of "junk" dimes coupla weeks ago - $1,000 face value, dealer wanted close to $10K (ouch!!) Of course they'd sell split bags but with additional surcharges.
MzProgressive 2 years ago
Great advice Drutter, especially regarding the negativity. The only downside to the low prices is I dont have any money to BUY BUY BUY as I have put all spare cash I had into the stack. Now would be a great time to be starting a stack.
my1956effie 2 years ago 3
I hear ya! I was there a couple months ago, during a pullback and I had not a cent to put into it. Luckily I managed to get a hold of some dollars and take advantage of the low prices recently, which I'm thankful for.
Even if you can get $50, get 2 or 3 nice shiny Maples, or go to eBay and bid on some junk silver lots.
Hell, cancel your cable bill and spend it on silver. Two birds, one stone! :p
drutter 2 years ago
Why are all the silver video posters making videos all of a sudden? It's weird....
AndyMH182 2 years ago
Yeah, maybe there's some kind of conspiracy going on BEHIND the conspiracies! :-O
In all seriousness, I dunno. I saw Davinci and Stella both drop videos earlier today, and since it's Canada Day and I'm not doing anything, I decided to slap one together also. :)
Hopefully we've provided you with information and smiles.
drutter 2 years ago
They all saw the same Window of opportunity and jump through simultaneously...Gotta Love it!
CosmicDramaQueen 2 years ago
ahh yes cheap silver is good silver... gives us all the chance to stack that much more :)
Milt0nBradley 2 years ago 5
please tell me where you find numismatic silver for spot price!!
ugotknockedthefugout 2 years ago
it's also fractional silver and comparing it to fractional bullion say 1/2 oz rounds and you can say that it's the best deal in town
mike6459 2 years ago
My Pappa gave me some:-) If you need to strengthen your position in Silver, why not diversify, makes sense and it is easily recognized as well, not to mention it's good to use as smaller trading units for potential Barter i.e. quarters/dimes and such!
CosmicDramaQueen 2 years ago
in the last silver rush, you never got paid as much for numismatic because of the process required for refining. You will get good premiums for 999 if history repeats and you may be cutting yourself short if you get too much numismatic... dont get me wrong - i have both... but just be aware - you might not extract full value for your silver down the line.
thanks for the vid drutski
stellaconcepts 2 years ago 3
drutski, hah! :p
Good point John. Perhaps the cost associated with separating the silver from the copper is why junk silver can be purchased for spot - even lower than spot at times.
That said, maybe the copper content will have some value of its own, helping to offset the cost of separating the mixture of metals?
drutter 2 years ago
it wasnt so much the content of the silver, it was that there were huge backlogs at refineries when people were selling their silver in the last silver rush (early 80's) - some reports say there were stockpiles of up to TWO YEARS at some refineries so the price for numis when way down (compared to 999 fine where there was no refining required and that could be sold right on to industry).
My numis are more for insurance against total collapse.
stellaconcepts 2 years ago
junk silver = street transactions. low weight in hyper-inflated economy. or as in Argentina(crash) or Mexico City show bling lose thing... attached. Easy transactions and non-flammable too!
143DREWID 2 years ago 2