aggiedata said:

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Melting down US silver coins is illegal, correct?

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I don't think so. In fact, I'd say the Fed would probably encourage the practice as they don't want us transacting in gold or silver anymore. They would very much like for us to stick to their freshly printed and much less valuable fiat.

Your opinion is just like lobo everybody has one but for the sake of the thread your right. Junk silver will never be more than junk silver

And do you really think somebody would go out and buy all the junk silver up because lobo said it would have a hugh premium in 5 years

maddiedou said:

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Your opinion is just like lobo everybody has one but for the sake of the thread your right. Junk silver will never be more than junk silver

And do you really think somebody would go out and buy all the junk silver up because lobo said it would have a hugh premium in 5 years

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I think it's possible that opinions forcefully stated as absolutes that are non-factual and flat out wrong could be acted on by novice investors to their detriment unless they're debunked. Go back and re-read his messages, if you'd like.

Call me Archie DeBunker, if you must.

maddiedou said:

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Your opinion is just like lobo everybody has one but for the sake of the thread your right. Junk silver will never be more than junk silver

And do you really think somebody would go out and buy all the junk silver up because lobo said it would have a hugh premium in 5 years

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I absolutely love junk silver, right down to the 40% Ikes. Junk silver is simply SHTF money. It's not something I would try to sell back to a PM seller like APMEX or SD Bullion...or even a coin shop for that matter. I keep some in a bag and that's it. It will be the first to go in a bad moment; strictly for an emergency.

I'll also say that a lot of people had to re-think owning junk silver when silver went on a tear in January. The big buyers and even local coin shops wouldn't touch it with a 10-foot pole. They would buy .999 fine and very little else because smelters said they were covered in junk. Since most coin shops often sell junk silver to smelters for cash flow, LCS'es found themselves in a pickle.

Well you kinda made lobo point

I dont really care but if the smelters were covered up on junk silver then if there is a next time of high silver the junk will again be smelted and to this day they are still smelting junk silver

So in a 100 years junk silver will probably and maybe possibly have a slight premium above spot silver.



I am not saying to go buy junk silver because I really do not care what you buy

I don't have time to fully develop my thoughts right now. I'll try to put something together next week.

For now, I'll say that the reasons to buy junk silver go beyond immediate returns.

The US has confiscated gold before and there's a high chance they'll do it again and expand the confiscation to silver.

The type of silver and gold that has the lowest chance at confiscation is actual currency. Along these lines I love graded pre-1933 gold.

Gold US currency the only thing targeted in 1934 because of hoarding during the depression.

You really think the US government will come back after our Aggie rings?

aggiedata said:

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Gold US currency the only thing targeted in 1934 because of hoarding during the depression.

You really think the US government will come back after our Aggie rings?

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Heaven forbid!!!

I know this is the "buying" thread, but what about selling?

I have a couple handfuls of 1oz american eagles that I need to sell.

Should I just get a few different quotes and go with the best? Sell back to the place where I purchased them over a decade ago (AJPM)?

Thanks for the help

I've bought off here a couple times. Always looking for a deal

Thanks for the suggestion.

I suppose a dealer is the best place to sell as one single lot, one single check.

But I imagine selling as singles and pairs/trips is probably more likely in the classifieds.

I watch a major nation wide coin auction once a month

And 65.00 -67.00 was the goingnprice for ASE

No buyers premium which means the seller probably only got 48-55 per coin

Monster boxes. 67.00 per coin also


Edit. I am not a buyer just posting the auction prices

Charismatic Megafauna said:

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You said a couple handfuls, is that a couple tubes? So 40oz x $61 today is $2440. That's not a lot. If you want to get screwed go to a shop, if you want spot or maybe even better post it here

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Not always true. Had someone on here offer multiple times way under spot (in fact, i could sell back to monex and most pawn shops for more than they were offering) and try telling me it was a good deal, despite me saying I would only let go at spot or better.

I bet they didn't try to beat you up in the open here and I would make it a point not to deal with that person going forward. As the post above yours shows, the dealers won't give you spot for ases anymore but you can't buy them from a dealer for spot either, so it's a good deal on both sides

Rain Man said:

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Sorry, my mistake. I should have clarified.

These are 1oz gold coins.

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What are they exactly?

Rain Man said:

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Sorry, my mistake. I should have clarified.

These are 1oz gold coins.

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I posted this on the previous page but will repeat on this one. I've bought and sold at U.S Coins and Jewelry on I-10 West in Houston. They have daily set prices above/ below the spot price where they buy and sell silver and gold coins. They buy below the spot price and sell above the spot price every day. You can go there and get an appraisal/ offer any time. There was a line inside and maybe a 20 minute wait for an appraiser the last time I stopped there.
'As far as I know, this is by far the biggest/ best place to buy / sell in person in the Houston area and they have been in business there for years. Family owned iirc. Police officer onsite at the door entryway. So safe and secure.

No, they PM'd me. And after saying i wouldnt take $14 under spot (on 100oz), they tried again at around 10% under spot. I think I finally got my point across that i wasnt willing to part with it for under spot unless I was going back to monex.

100 ounces was alot

I assumed you sold it and hopefully in the 90 dollar range when it was so high

TTUArmy said:

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Heineken-Ashi said:

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TTUArmy said:

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Probabilities of Fed rate change
Ease - 0.0 %
No Change - 66.3 %
Hike - 33.7 %

I'm in the "No Change" category. That "ease" percentage is probably going way up around mid-terms. Anyone that understands the mechanics of the Fed and the underlying fundamentals of the economy knows the "hike" position is absolute BS...ain't going to happen. Bring on the QE printing, another credit cycle, and higher prices for precious metals.

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Long story short, as always, follow the bond market and you will know what the FED will do.

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All hail the bond vigilantes! Thanks for your input H-A. Always valuable, man.

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After the Yen-tervention by the US Treasury, I have to wonder if the tail is wagging the dog now. Coordinated effort to keep the dollar weaker?

histag10 said:

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maddiedou said:

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100 ounces was alot

I assumed you sold it and hopefully in the 90 dollar range when it was so high

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I did not sell it. The offer i got on here was around 6000 when it was sitting around 74 spot. Contemplated selling it back to monex st that point for around 70/oz but decided to hold onto it. It fell extremely quickly after that. But thats okay. I have faith it will go back up. Just hopefully not as quick and volatile as last time. For now it sits untouched and hopefully growing in value lol.

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Well. Good luck It is a hard market and I am not a silver buyer

I still buy alittle but mostly graded if I can

TTUArmy said:

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aggiedata said:

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Melting down US silver coins is illegal, correct?

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I don't think so. In fact, I'd say the Fed would probably encourage the practice as they don't want us transacting in gold or silver anymore. They would very much like for us to stick to their freshly printed and much less valuable fiat.

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Is there still a functional ban on junk silver refineries buying product? I can't see anything, even though SLV has declined into the $50's.

1oz gold American eagles

nortex97 said:

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TTUArmy said:

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aggiedata said:

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Melting down US silver coins is illegal, correct?

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I don't think so. In fact, I'd say the Fed would probably encourage the practice as they don't want us transacting in gold or silver anymore. They would very much like for us to stick to their freshly printed and much less valuable fiat.

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Is there still a functional ban on junk silver refineries buying product? I can't see anything, even though SLV has declined into the $50's.

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I'm not terribly sure. I haven't heard anything lately. I'm sure the refineries have melted down enough .999 fine to get the COMEX vaults restocked. It seemed like the more those vaults emptied, the more shady the tactics became to protect their market at all costs. So, they lived to fight another day but, I think China was just testing the waters. It's one thing to tamp down a Hunt Brothers type run on silver. It's quite another situation to tamp down a silver market run when sovereigns are having a go at it.

Anyway, I don't see much of a reason why refineries wouldn't be buying and refining 90% again.

aggiebrad16 said:

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AggieT said:

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Plus, most of us won't rob you in the parking lot when we meet up!

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Not sure I agree with this… AgEng06 damn near robbed me blind looking back on the price I paid

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Yeah, well, there was a time after the sale where you robbed me!

AgEng06 said:

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aggiebrad16 said:

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AggieT said:

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Plus, most of us won't rob you in the parking lot when we meet up!

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Not sure I agree with this… AgEng06 damn near robbed me blind looking back on the price I paid

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Yeah, well, there was a time after the sale where you robbed me!

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I won the battle, you won the war