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Old 04-13-2013, 10:02 AM   #26 (permalink)
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Silver is projected to opening Monday at $21.85...I would refrain from buying silly over the weekend
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Old 04-13-2013, 10:49 AM   #27 (permalink)
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Silver is projected to opening Monday at $21.85...I would refrain from buying silly over the weekend
Great advise. I heard somewhere that the best time to buy gold is early in the morning... is the same for silver? Will wait till Monday and see what's what. Thank you!
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Old 04-13-2013, 10:53 AM   #28 (permalink)
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Silver is projected to opening Monday at $21.85...I would refrain from buying silly over the weekend
Thanks for this. I was going to go buy a solid amount of silver this weekend.

I'll hold off until Monday.
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Old 04-13-2013, 11:00 AM   #29 (permalink)
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Thanks for this. I was going to go buy a solid amount of silver this weekend.

I'll hold off until Monday.
Who said the forum never served a purpose?

I wonder what gold is projected to open at...
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Old 04-13-2013, 11:05 AM   #30 (permalink)
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Gold under $750/oz
Silver under $12/oz

Both will occur in the next 4-7 years.

Historically:
Precious metals are sufficient short term hedges.
Precious metals are one of the very worst longs.


If I were a gambling man with disposable income I would short as much gold as possible.
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Old 04-13-2013, 11:30 AM   #31 (permalink)
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I think this thread needs locked and sticky up top. I beleive this is the first time EVER on blowout where everyone is getting along in a thread! Haha

Sorry back to the subject!
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Old 04-13-2013, 12:32 PM   #32 (permalink)
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I think this thread needs locked and sticky up top. I beleive this is the first time EVER on blowout where everyone is getting along in a thread! Haha

Sorry back to the subject!
Screw You Dan!

kiss my a$$


there, we better now?
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Old 04-13-2013, 01:09 PM   #33 (permalink)
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Screw You Dan!

kiss my a$$


there, we better now?
Haha reported for trying to interweb bully me

Kidding... Kindof..
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Old 04-13-2013, 03:43 PM   #34 (permalink)
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Gold under $750/oz
Silver under $12/oz

Both will occur in the next 4-7 years.

Historically:
Precious metals are sufficient short term hedges.
Precious metals are one of the very worst longs.


If I were a gambling man with disposable income I would short as much gold as possible.

Thing is though, did your dollar buy you more gasoline this month? What about food? It didn't. So why would silver (I can understand gold) be dropping so precipitously?

The highest I ever bought silver for non-graded was $29, so if it goes down to $15, it sucks, but it isn't the end of the world. Hell, I'll buy it like crazy at $15. I'll go back and get all those years I'm missing of the Silver Liberty coins.
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Old 04-13-2013, 04:07 PM   #35 (permalink)
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Thing is though, did your dollar buy you more gasoline this month? What about food? It didn't. So why would silver (I can understand gold) be dropping so precipitously?

The highest I ever bought silver for non-graded was $29, so if it goes down to $15, it sucks, but it isn't the end of the world. Hell, I'll buy it like crazy at $15. I'll go back and get all those years I'm missing of the Silver Liberty coins.
Obviously, no one knows for certain.

I believe both are overvalued, not simply climbing, because of irrational reasons. Historically, the same reasons have bubbled precious metals. I think everyone can agree that both metals are worthless as a monetary hedge if apocalyptic measures arise. Some expect the predominant fiat currencies to implode, which would enlist precious metals as an attract means of avoidance. I don't see the US Dollar being even close to that precipice. The media and the sensationalist maybe preach this idea, but from my understanding we are not even close.

The market value of both metals is much, much lower than even the all-time lows. Neither metal has any (maybe a small handful) of untapped uses. The premium over useful value has always been a strange aura that pulls humans to shiny, attractive things.

I agree with short-term hedges, but would never invest in either for longs greater than 12 months.

I see silver doing exactly what it did in the 80s and 90s. I bought one ounce liberties through Coin magazine for under $5 each in the 90s. Silver could easily return to the $5 level (adjusted for inflation.) The want/need/demand will continue its cyclical cycle.

The percentage of household income spent on food is at an all-time low. Energy has irrational forces working on market costs.
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Old 04-13-2013, 04:18 PM   #36 (permalink)
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Lots of great info here, great thread! I've been thinking of picking up some silver for a bit now.

Here's a small tip for anyone who's interested. Every time I'm out at a store I'll always try to get as much coin change back as possible. When I get home I'll dig through them before putting them in my jar. I've gotten over 10 quaters/dimes that were old and made of 90% Silver. 10 quarters = $2.50, 10 quarters pre 1965 = about $45

Not much like I said but something extra to look at.
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Old 04-13-2013, 04:23 PM   #37 (permalink)
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Lots of great info here, great thread! I've been thinking of picking up some silver for a bit now.

Here's a small tip for anyone who's interested. Every time I'm out at a store I'll always try to get as much coin change back as possible. When I get home I'll dig through them before putting them in my jar. I've gotten over 10 quaters/dimes that were old and made of 90% Silver. 10 quarters = $2.50, 10 quarters pre 1965 = about $45

Not much like I said but something extra to look at.
Seriously? You must have found a nice area for loonies.

I haven't received a silver dime/quarter in change since probably 1988. I wonder if kids are starting to inherit estates and don't understand the content of old common coinage.

My grandparents owned a coin laundry and they only received maybe five per week by 1985. They saved all the silvers that they took in.

I do save all my 1982 and older pennies.
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Old 04-13-2013, 04:26 PM   #38 (permalink)
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Seriously?

I haven't received a silver dime/quarter in change since probably 1988. I wonder if kids are starting to inherit estates and don't understand the content of old common coinage.

My grandparents owned a coin laundry and they only received maybe five per week by 1985. They saved all the silvers that they took in.

I do save all my 1982 and older pennies.
I am with you.. I haven't gotten a pre 65 coin in change since the late 90's...

Also note half the of 82 pennies are worthless. You have to weigh them
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Old 04-13-2013, 04:28 PM   #39 (permalink)
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I am with you.. I haven't gotten a pre 65 coin in change since the late 90's...

Also note half the of 82 pennies are worthless. You have to weigh them
Correct, that was the experimental year, with the inclusion of zinc.
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Old 04-13-2013, 04:30 PM   #40 (permalink)
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Seriously? You must have found a nice area for loonies.

I haven't received a silver dime/quarter in change since probably 1988. I wonder if kids are starting to inherit estates and don't understand the content of old common coinage.

My grandparents owned a coin laundry and they only received maybe five per week by 1985. They saved all the silvers that they took in.

I do save all my 1982 and older pennies.
My best find recently was a 1943 penny. It's not in good condition at all but I believe it's the copper version which to my understand makes it worth $$$. Will have it checked out soon and possibly send it in for grading if I plan to sell it.
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Old 04-13-2013, 04:34 PM   #41 (permalink)
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I am with you.. I haven't gotten a pre 65 coin in change since the late 90's...
My exgf used to work at Jamba Juice and this lady came in and bought her $5 smoothie with all pre65 quarters... 20 of them!

and what does my stupid ass gf do? she leaves them in the register instead of changing them out for the fiver she had in her pocket.
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Old 04-13-2013, 06:09 PM   #42 (permalink)
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I will post pics of how I make money with silver. Maybe I can enlighten some of you who buy to flip
Investing in bullion is limited on return and value in the overall scheme of the metals market.
I do not see silver hitting fullmetals estimate simply because there is no way to define the future market based on the current and projected geopolitical climate. You can assume, based on past trends,true, but they are invalid simply because our resources are limited and our population increasing.
With the threat and fear of peakoil being a reality,the market can only be suppressed and manipulated for so long. In 7 years peak oil will be proven fact or myth...NOW....if technology comes out and wifely available they decreases or removes the need fo fossil fuels, metals will bottom out,but that won;t happen for at least 20 years, based on oil projections and the need, by world governments, to reduce population
Grim, but,reality
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Old 04-13-2013, 06:21 PM   #43 (permalink)
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My best find recently was a 1943 penny. It's not in good condition at all but I believe it's the copper version which to my understand makes it worth $$$. Will have it checked out soon and possibly send it in for grading if I plan to sell it.
These are actually pretty easy to fake. The 2 scams I know of were to shave off part of the 8 on a 1948 cent or to copper-plate a 1943 steel penny. The second is easy to check for - if it sticks to a magnet it's steel. The 1948 penny should be obvious if you compare the date to a 1943 steel. Good luck!
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Old 04-13-2013, 06:37 PM   #44 (permalink)
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These are actually pretty easy to fake. The 2 scams I know of were to shave off part of the 8 on a 1948 cent or to copper-plate a 1943 steel penny. The second is easy to check for - if it sticks to a magnet it's steel. The 1948 penny should be obvious if you compare the date to a 1943 steel. Good luck!
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Old 04-13-2013, 06:46 PM   #45 (permalink)
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Definitely not a '48, but I can't use magnets over the internet
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Old 04-13-2013, 06:48 PM   #46 (permalink)
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Definitely not a '48, but I can't use magnets over the internet
really? put one on your screen, it'll be fun
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Old 04-13-2013, 07:09 PM   #47 (permalink)
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Definitely not a '48, but I can't use magnets over the internet
I was not showing you images to appraise
I was showing the poster what one looks like
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Old 04-13-2013, 07:26 PM   #48 (permalink)
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I would only ever do speculative purchasing of bullion. Bullion is tied to swaying tastes and market manipulation. Also, buying bullion that isn't fungible currency is mighty risky. Bullion is great, if you have a buyer.

I am invested in coins that are comprised of silver and gold in nice condition. They have the double effect of being scarce and finite. Also, rarer bullion sets: (2009 St. Guadens Ultra High Relief, $50 Gold Buffalo, 25th Anniversary Silver Eagle set, etc.) These are bullion, but they're also much harder to find than just the average bullion coins made for investors. These are common and un-special outside of their base material.

Important: Do not invest in anything that ins't tangible. Re-hypothecation is a real problem and it happens at every level of investing.

I would buy at the moment, but not in large quantities. The older the better and graded old coins are a plus (i.e, their value is largely unaffected by poor economies because their demand is constant).
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Old 04-13-2013, 07:29 PM   #49 (permalink)
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These are actually pretty easy to fake. The 2 scams I know of were to shave off part of the 8 on a 1948 cent or to copper-plate a 1943 steel penny. The second is easy to check for - if it sticks to a magnet it's steel. The 1948 penny should be obvious if you compare the date to a 1943 steel. Good luck!
Thanks for the tip, will try a magnet when I have a chance. Like I said it's condition is bad but if it's real I'd imagine it would still hold some value. If it passes the magnet test I'll see what my local coin dealer thinks before trying grading.

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I was not showing you images to appraise
I was showing the poster what one looks like
Thanks for the pic. Now, is this what a fake would look like ( the shaved 8 that peanut said?)
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Old 04-13-2013, 07:32 PM   #50 (permalink)
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Thanks for the pic. Now, is this what a fake would look like ( the shaved 8 that peanut said?)
No, this one is legit. The obverse die is different than the one used for Steel Pennies, hence it has a different lower serif on the "3".
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