Silver coins/rounds question

[rondog]

Never put money in silver or gold that you can't hold in your hand and walk out the door with! A paper "certificate" or numbers in an account that "say" you own xxx amount don't mean shit. They may tell you that your metal is safe and secure, and that you can have it anytime, but they may also have sold 100 times more than the amount they actually HAVE on hand! If everyone suddenly demands their metal, the company will go tits up and a whole buncha people gonna be fucked. Only buy physical that you can take immediate possession of.

Metals "held" in an IRA? Yeah, right.

[Dryfli]

On a funny side note I stopped by the pawn shop yesterday on the off chance they might have a few silver dollars. I've been in there a bunch of times before and they never had anything. To my surprise they had 7 Morgan dollars 1881 ect. Nothing special they had obviously need cleaned, I asked to see them I knew silver was under $20 an toz. What really surprised me was the price 54.95 each??!??!! Need less to say I didn't buy and and was too afraid to ask what they wanted for the 1915 $2 1/2 dollar gold Indian coin

[rockhound]

Yeah I wondered that too. I guess the point was that you could invest in metals instead of stocks in your IRA? Seemed weird to me as well.
It was pointed out to me that you owe taxes on that silver and gold in your safe when you sell it and make a profit, so maybe that's why the IRA is used...?

Only over a certain amount would you owe taxes, silver in the safe can be traded, if it is foreign currency cannot be recalled, the ira gives you a tax deduction but makes all your metals taxable and traceable

[rondog]

On a funny side note I stopped by the pawn shop yesterday on the off chance they might have a few silver dollars. I've been in there a bunch of times before and they never had anything. To my surprise they had 7 Morgan dollars 1881 ect. Nothing special they had obviously need cleaned, I asked to see them I knew silver was under $20 an toz. What really surprised me was the price 54.95 each??!??!! Need less to say I didn't buy and and was too afraid to ask what they wanted for the 1915 $2 1/2 dollar gold Indian coin

That's because those were old US coins and "collectable", so they have a big premium tacked on. And they're only 90% silver. And it was a pawn shop.

Go to a COIN SHOP, and look for BULLION coins. They're not monetary coins, they're essentially pure silver stamped into coin form, called "rounds". They don't represent any currency and have no collectable premium, they only represent what they are.....which is one ounce of .999 pure silver, and their value is based on the price of silver, not a collectable value. Also look for silver bars, they run from 1/2 ounce to 1000 ounces.

[roberth]

On a funny side note I stopped by the pawn shop yesterday on the off chance they might have a few silver dollars. I've been in there a bunch of times before and they never had anything. To my surprise they had 7 Morgan dollars 1881 ect. Nothing special they had obviously need cleaned, I asked to see them I knew silver was under $20 an toz. What really surprised me was the price 54.95 each??!??!! Need less to say I didn't buy and and was too afraid to ask what they wanted for the 1915 $2 1/2 dollar gold Indian coin

I called Rocky Mountain Coin the other day and they were selling 1oz .999 Silver American Eagles for $25 each.

[Dryfli]

I know I've bought plenty of rounds and silver dollars I just thought the outrageous price was funny

[roberth]

will the sudden uptick hold?

[Batteriesnare]

It hasn't recently, but we'll see. Great buying opportunity right now!

will the sudden uptick hold?

[roberth]

It hasn't recently, but we'll see. Great buying opportunity right now!

Yes

[rondog]

will the sudden uptick hold?

No way to predict that, but who knows? People have been predicting for years that all Hell could break loose in silver anytime. This pullback could be an excellent opportunity, or it may languish longer. Many believe silver's being illegally suppressed by BIG money players who are using it to generate huge amounts of cash.

There's supposedly far more silver traded on the futures market than there is produced every year, so there's supposedly a supply/demand deficit. There's a lot of analysts saying there's not enough supply to meet the demands, yet the price is way too low. I just wish I had the means to load up on it while it's down right now.