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$Investors needed$-silver assistance please

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posted on Mar, 25 2011 @ 10:54 AM
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I am not looking for investment advice. I know that is inappropriate on ATS. i am not even sure this is the right forum, but it says meltdown, and I think of meltdown as in melting silver so MODS, feel free to handle your biz.

I have a smidgeon more knowledge than ive elaborated to. I have tracked metals for 5 years now, just was too broke to be able to buy it at $12/oz back in 08. I ve received packets for goldline and another company i heard of on the radio. but actually buying it ive never done. hopefully some people here have actual experience trading silver coins, buillion, etc..



1. I am finally ina financial position to invest a little bit ($3-5k). It will be in silver coins, bullion, something i can touch.
2. I know of the gold/tungsten bars so I am scared of fake silver floating around.
3. I am scared of not knowing which are the most reliable/reputable sources to buy it. there are quite a few mints out there. ------which are the top 3?
4. which countries coins are the most trusted to not be fakes?
5. which countries coins are the ones an amatuer should avoid?
6. which mints should one try to avoid?
7. which coins are the "best deal"?
8. what is better to go through the goldline types companies or the actual mints?

----I AM NOT INTERESTED IN NUMISMATICS- i feel they are a rip-off, the schmucks choice.




posted on Mar, 25 2011 @ 10:58 AM
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Originally posted by rebeldog
I am not looking for investment advice. I know that is inappropriate on ATS. i am not even sure this is the right forum, but it says meltdown, and I think of meltdown as in melting silver so MODS, feel free to handle your biz.

I have a smidgeon more knowledge than ive elaborated to. I have tracked metals for 5 years now, just was too broke to be able to buy it at $12/oz back in 08. I ve received packets for goldline and another company i heard of on the radio. but actually buying it ive never done. hopefully some people here have actual experience trading silver coins, buillion, etc..



1. I am finally ina financial position to invest a little bit ($3-5k). It will be in silver coins, bullion, something i can touch.
2. I know of the gold/tungsten bars so I am scared of fake silver floating around.
3. I am scared of not knowing which are the most reliable/reputable sources to buy it. there are quite a few mints out there. ------which are the top 3?
4. which countries coins are the most trusted to not be fakes?
5. which countries coins are the ones an amatuer should avoid?
6. which mints should one try to avoid?
7. which coins are the "best deal"?
8. what is better to go through the goldline types companies or the actual mints?

----I AM NOT INTERESTED IN NUMISMATICS- i feel they are a rip-off, the schmucks choice.






posted on Mar, 25 2011 @ 11:00 AM
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Watch for the next weeks. I think there will be a pullback. Then try and find silver eagles, or bars around. Try Kitco or midas resources. I am a fan of numismatics, and I think they have a potential to out gain other silver investments.



posted on Mar, 25 2011 @ 11:02 AM
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i get silvertowne bars but i am no pro investor, I just think they are reputable and the stamping indicates that its all silver etc etc.



posted on Mar, 25 2011 @ 11:04 AM
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Not an expert but there a few on here. I started a thread yesterday and have received some sage advice I believe:

www.abovetopsecret.com...

I am sure there are others here as well but that's about all I can do to start steering your direction.

Maybe use the search engine here as well.

Good luck!



posted on Mar, 25 2011 @ 11:06 AM
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reply to post by rebeldog
 

OOPs sorry about the last post. Your best bet (esp in small amounts) is to buy 90% silver coins (1964 and before) they can be had at the spot price of silver (.715 x face value). You could go with bullion coins where you would pay a $1-2 over spot but there is a small risk that you might buy some fakes (albeit miniscule if you stick to recognized mints). IF you want 100% assurance then you can go for national mints like Canadian maple leafs or US silver eagles but they carry a higher premium (2.50-2.99 over for maples and 2.75 to 3.99 over for eagles). Kinda late to the party up here at 37+ so be mentally prepared to take some heat but in the long run you will be rewarded.

Personally, I have lightened up on the rally and am waiting for a bigger correction. Anecdotaly, a relative who has been in the metals and jewelry business since 1979 sold most of his silver yesterday (has a small core position left and his gold). He doesnt necessarily believe in the NWO stuff but has held on due to the weakness in the dollar....until yesterday that is.That was a multiyear accumulation and locked in over the phone to one of the biggest dealers in the country.I think a lot of people's "spidey sense" is saying that this market needs to correct before going to the moon.



posted on Mar, 25 2011 @ 11:10 AM
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reply to post by thegoods724
 

Silvertowne is great....back in 2008 when the price nosedived to $9~ (actually lower but I was early) and the premium on silver eagles was $5-7 (and already locked some in from a major dealer at $5 over) I contacted Silvertowne and contracted them for a private run of bullion coins at 2.50 over. They had to back order them due to the demand and it took about 7-8 weeks to get delivery but they were nice (proof like) and I didnt have to pay for them until they were ready to ship and they took my personal check. Great people.



posted on Mar, 25 2011 @ 11:30 AM
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reply to post by rebeldog
 


I buy coins on E-bay and at local auctions. On E-bay look for the higher rated sellers, don't exclude the sellers with lower feedback ratings though. The local auctions are also a good source of coinage. I own a few Silvertown bars in 1oz and 5oz weights, stay away from any bar that isn't a "name brand". Silver Eagles from the US mint are another good choice.

When buying "pre '64" coins...remember this formula - $1.50 in face value = 1oz of silver. Coinflation has a calculator that gives the current value of coins in melt value. An interesting factoid....a modern nickle, an average, everyday 5 cents is worth more than 5 cents in melt value (for the nickle content) so that is also a viable option for you. Coinflation is a great resource.



posted on Mar, 25 2011 @ 11:41 AM
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reply to post by rebeldog
 



I know of the gold/tungsten bars so I am scared of fake silver floating around.


Avoid "german silver" aka nickel silver for a start.


Nickel silver is named for its silvery appearance, but contains no elemental silver unless plated.



Nickel silver has recently been used to produce counterfeit coins and medallions purporting to be silver rounds, generally in an attempt to trick unsuspecting buyers into paying prices based on the spot price of silver. An example of such a counterfeit coin is shown. This metal has also been used to produce counterfeit Morgan dollars.

More outright attempts at nickel silver fraud include the production of replica bullion bars marked "Nickel Silver" or "German Silver", in weights of one troy ounce, that are sold without explanation that there is no elemental silver present.


en.wikipedia.org...



posted on Mar, 25 2011 @ 11:58 AM
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reply to post by Rob1971
 

Ebay prices are high for silver eagles (at least when I looked at them there a long time ago). It is a good source to buy other silver tho (I bot a bunch of Franklin Mint stuff years ago for spot when silver was around $4). As to counterfeit - if in doubt weigh them....a one ounce silver round should weigh 31.103 grams or 20 dwt (penneyweight). Now a counterfeit coins could still weigh an ounce but it would likely have to be slightly larger dimensions (so you might want to check your diameter and thickness dimensions if you arent sure). There are a lot of counterfeit US silver dollars that came out of China years ago ....so caveat emptor.



posted on Mar, 25 2011 @ 12:06 PM
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So you missed the boat at $6,$8, $12 but now you want in at $37?

So for example
This is just an example to put things into perspective) In Vegas back in 2000 a home cost $80,000-$120,000. Then over the next 7-8 years those same homes where being sold for $370,000. Would you want to buy one for $370,000?

A safer bet right now IMHO would be to SHORT silver with something like ZSL. I DID get some in at $8.32(only 200 oz and it was just luck) but most of my silver was bought at around $11-$13 and has been sold. Its silly right now to want to buy IMHO.


But if i HAD to buy right now, I would buy Numismatic NGC/PCGS MS69 silver eagles at as close to spot as i could. Your downside is less volatile , and upside is same as bullion.
edit on 25-3-2011 by Nomadmonkey because: (no reason given)



posted on Mar, 25 2011 @ 12:30 PM
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reply to post by CosmicCitizen
 


I agree on the premiums that Silver Eagles are going for on E-bay. I last ones I bought were over a year ago and they were nowhere near the prices now. I wish I had purchased more than what I have, but can't really complain with an average increase of 100%. Most of my Morgan/Peace dollars were bought for, on average, $17.00...the Silver eagles an average of $20 and $22 average (per oz) of bars. Not too bad for being behind, but not too late.



posted on Mar, 25 2011 @ 01:54 PM
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reply to post by john124
 


nice info
this is the kind of info that i had in mind when starting this thread. RIGHT ON!!

hopefully others will also get something from what ive started.



posted on Mar, 25 2011 @ 01:55 PM
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reply to post by CosmicCitizen
 


i don't have much to add since you obviously posess more knowledge than I do on this issue.

but i would like to personally thank you for the guidance.



posted on Mar, 25 2011 @ 01:59 PM
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reply to post by Nomadmonkey
 


as I stated in the beginning, I didn't technically miss the boat.

More like stood at the dock watching others board and set sail. personal finances don't always fit my ideal desires.



posted on Mar, 25 2011 @ 02:01 PM
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I did Glodline for a couple of years. Bought 1/10th Maple leafs every month.
I visit pawn shops, coin brokers, coin shops.
Don't do on-line purchases, but that's just me.



posted on Mar, 25 2011 @ 02:16 PM
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reply to post by Nomadmonkey
 


do you think im a moron just because i was unable to go all in early i silver? just because I wasn't able to buy it a few years ago doesn't mean i don't understand economics.
I made chump change a few years ago ($7-$10k amonth) designing/selling pump systems to geothermal plants, housing developments, shipbuilders, golf courses to name a few. without a degree, actually engineering firms with guys holding master's degrees would call my high school diploma butt when they made mistakes. I retired at 33, paid cash for my house post real estate crash (at 35% its asking price), paid cash for my two jalopies, and play with my kids all day, go to the beach, hit ATS whenever, play playstation, go shooting or fishing whenever. So just because had money tied up a few years ago in other things, don't think you know Oh so much more than I regarding investing.

I knew as well as anyone about the real estate scam. While associates were buying their houses five years ago I pleaded with them not to buy. I was ridiculed by morons buying houses on ninja loans for 450,000-550,000 from 2003-2005. i used every approach to stop them, but hey now they aren't so smart getting foreclosed cause they owe double what their house is worth. Or the bigger idiots who already owned but refi's every six months and bought toys that are now worth a third what they paid for them.

I did go heavy AIG, Cisco, and Sun back in 1997-1998, bailed out 44 days before crash. made alot of free money then.

if silver is at $50/oz next year better late than never^^
^^



posted on Mar, 25 2011 @ 02:26 PM
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reply to post by beezzer
 


thank you for your input. I shoulda been hitting silver coins instead of playing gold on margin 20to1. the taxes murdered me last year.



I discovered
, that usually when Goldline guy called me offering to sell at spot price/with no mark up the price was about to drop. I found the best time to trade gold online was when this happened. after the markup factors in on buying when it goes up, it was better for me to buy at no mark up.

example:880/oz plus premium=916/oz --------that was during gold rising..
but when offered at spot of 880/oz--even though it would "fall" to 860/oz. still better deal, since 20/oz loss better than 36/oz loss due to premium.



posted on Mar, 25 2011 @ 02:28 PM
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I posted on craigslist that I was a buyer and put my prices I would pay. In over a year I've purchased over 100 oz of silver around 12-14$ an oz. Make sure you meet people in public placess like a bank or secure location.@



posted on Mar, 25 2011 @ 02:29 PM
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reply to post by beezzer
 


do you know of any certain foreign coins that are "off radar", not wanted by the masses, silver content coins that are sold either below melt value, or coins that are just neat-o?






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