Seems like in a shtf situation it would be nice to have some of the small 1/4oz coins? Maybe even some of the 1/10oz? The only downside I see is you're paying $22ish an oz by small like that...
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Official ODT Silver Thread
- Thread starter roscoe1911
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I hate you Patronus! (not really) You are an enabler!
I just ordered 10 Morgan rounds.
I just ordered 10 Morgan rounds.
Keep in mind that you also pay a premium for smaller denominations. 1 oz silver coins are still a relatively small denomination, particularly as compared to gold.
I buy PM's as a way to put up/save some "cash" for a later date in hopes that spot goes up from the time I buy it. I also have it as a reserve if you will, if the dollar/stock markets were to tank.
90% dimes, quarters, halves and dollars. Already pre-sized and denominated. And if you find a good seller you can get them at spot.
Provident sells 90% US coins at $1.79 over spot.:
http://www.providentmetals.com/90-junk-silver-us-coins-1-face-value-715-troy-ounces.html
And Coinflation makes a great free value calculator:
http://www.coinflation.com/coins/silver_calc.php
Yeah. gold is unwieldy for every day. No one knows what the market rate will be, whether an ounce will be worth a chicken or a feast. Whether a silver dime will buy a meal or a harem(lol). I like to have all the increments I can and if the time comes to spend I will surely be showing the least I possible can. So I plan to have a few dimes in my pocket and anything bigger in places you'd only find by searching my corpse or digging for hours in obscure places. And then only with a lotta luck.
Yeah I'm looking at it as a savings account that's here at the house. Banks are paying some fraction of a percent to let them use your money these days. So I'd like to keep money at home. But if I try to stash cash it will get spent. If I put all my extra $20.00 bills in silver ( and there ain't many of them lately) it will still be there in the sock drawer later on. Even if the price stays pretty much the same over the next year or two I know I'll still have as much as I put into it give or take a dollar or two.
The risk in that is when you need to liquidate. If silver isn't UP, you lose money. I keep liquid cash at home by buying dollar coins. Not silver, silver dollars but Eisenhower's that aren't collectible, Sussan B Anthony dollars, etc. I just toss them in an ammo can in the safe and so far I have been able to leave them alone. And this way they don't need a "conversion" to liquid cash, they ARE cash. They are heavy as hell so I don't grab the can and run to the gun shop. They are money so I could spend them or as I have considered I could use them as collateral for a short term loan at my bank to make sure I got a very low interest rate.
There is a very small shop in Warner Robins I have dealt with that I believe is called Wellston Gold and Silver Exchange. They sell for about $1.50 over spot and will do better for quantity purchases. Now they don't have the selection that Apmex or JMB does. But I don't have to buy the $100.00 minimum and I got my metal same day.Agreed, agreed and agreed some mo'. Ordering in $100 increments gets you the free shipping(which IMO is VITAL) and lets you place your orders small and more frequently. Small matters because you can hedge against impatience, stock more easily and you risk losing less if something should happen in transit. You can also respond more quickly to market fluctuations should the price drop right after you order, you can order againAlso be prepared for the fact that from the time you order until you actually get your metal in your hand will be AT LEAST a week, more like 10-14 days. They hold your payment until it clears THEN ship.
Before I found them I had asked around at a few pawn shops. I quickly learned that ain't where you buy metals. One shop was about $4.00 over spot. But I found a few shops that won't resell it at all. They'll buy all you got but they don't put it back out for sale.
When you go to buy there is one other thing to consider about prices that I don't think we've mentioned. Rounds and bars are taxable commodities. Coins are currency and are sold without sales tax. That includes junk silver currency coins and bullion coins like Eagles. Sales tax is a factor to be considered into your investment purchase price when you buy in person. If you can buy an ounce bullion coin for 5% more than a round the bullion coin is still the better buy.
