Newbie just starting out...have a basic question

Discussion in 'Silver Coins' started by JimS514, Jan 12, 2011.

  1. JimS514

    JimS514 New Member

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    I would like to start purchasing some silver, but live in a fairly small town and don't really know where to start. From my research, coinage looks good as my father in law runs an auction house and he sometimes has old coins.

    My question is this: In a situation where silver is needed to buy goods, does it matter what the silver is formed in to?

    Reason I ask is that our local bank has recently had silver coins printed up for their 150th anniversary. They are 1 troy ounce and are 99.99% silver I believe. They have a authentication card with them. They are $30 per coin.

    Would this be a good start to pick up some of these, or in a hyperinflation situation are coins like these of less value or hard to sell?

    Also, I read somewhere to go to a bank and buy rolls of Kennedy half dollars and look for pre 1964 coins. Is that viable as well?

    Thanks in advance for any help you can provide!
     
  2. Dynoman

    Dynoman Active Member

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    I'd say if your able to purchase 1 troy ounce pure silver coins or rounds for $30 that's practically spot plus nothing. Sounds like a great deal ! I'd be really happy to pay that.
     
  3. Stedlar

    Stedlar Active Member

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    At $30 each the bank coins sound too good to be true. I wouldn't hesitate to purchase a large quantity if it was all legit.

    As far as what to stack, it really depends on your purpose.

    If you want coin to buy stuff with then work out how long for, and how much per day, and then by the silver in a form that is tradable and recognizable by those with whom you might need to trade. A variety of ounce sizes to accommodate different needs. Getting change in silver might be hard.

    If you are looking at purely investment, then you decide how much liquidity you want, the premium you are prepared to pay, and go for bar sizes that match your needs. Smaller bars, more premium, more liquid or larger bars, less premium less liquid.

    As far as where to purchase from, what part of the world are you in?
     
  4. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    If you can buy the 1 oz rounds for $30 than its a great deal.
    you can register on eBay and look for silver or gold there as well.

    and yeah, welcome to the Forum ;)
     
  5. pmfiend

    pmfiend New Member

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    In a S*** Hit The Fan scenario your best bet would be junk coins like the pre-64 coins.

    These fractional silver coins allow you to pay for smaller items (clothing, cans of food, etc) without having to worry about overpaying.

    They will also be fairly recognizable (I would only buy junk coins belonging to your own country).

    They should also have low premiums so you get more metal for your buck. (stay away from the numismatic items).

    I wouldn't exclusively stack anything, diversify your stack.
     
  6. JimS514

    JimS514 New Member

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    Wow, thanks for all of the replys.

    I will stop by there tomorrow and pick up one and get the certificate. I will take a picture so you guys can see and then let me know.

    My wife and I are debt pretty far but realize what is possibly happening around us. We are trying prepare as best we can so I am only looking for small amounts now as we can afford it

    I live in the US.
     

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