[Gabriel]

I have been looking at putting a chunk of money in silver. My dad collected silver coins when they stopped minting them and my mom turned a big profit after he died. A good friend of mine, that is pretty sharp with his money, used E trade this week to buy silver. They messed up the $20k order and he missed out on a $3,500 increase before it got sorted out. All I know is it can tank just as fast.

 

[Kentucky Fisherman]

My opinion (worth what you paid for it) is that you MUST look at precious metals as insurance, not as an investment. I liken it to my stores of ammunition and long-term food supplies. When I die, if my PMs, ammo and rice get passed along to my children, then they have done their job of helping me sleep. If the nation/world get all crazy and gold/silver/.22LR bullets replace the paper dollar as mediums of exchange, then my physically held PMs will help me survive.

I advise most folks to only buy PMs if they plan to take physical possession and secure it properly. If you can't help yourself and simply must "play" in the PM markets, you should be well heeled and look at it as entertainment, just like going to Vegas or day trading on the stock market.

I can recommend coloradogold.com and montanararities.com. I have dealt with both and trust them. They are pleasant to talk with by phone and seem more than willing to spend some time educating a newbie who might become a regular customer.

 

[Gabriel]

My friend Don, who just bought the silver is pretty sharp and has done very well as a business man, as in millionaire, probably a few times over, said it is protection for his buying power right now not an investment.

 

[JRinKY]

Silver is used in a lot of applications so it will always be worth having.
When I was a mailman, an old eccentric? pepper fella would get a 68# of "Machine Parts" thru the mail. It was Registered, so It obviously was "Sumpin."
Other old carrier used to be on the Route told me what it was. A 68# block of Silver. He passed long ago and I wondered if his kids dug it all up.
I was told that "Scrap Silver Dollars" was a better idea, cause they at least worth a Dollar.
That is all.

 

[jwbeauchamp23]

Precious metals, you must be talking about copper plumbing fittings. I just paid $8.50 each for 3/4" male threaded adapters that used to be .59

 

[Gabriel]

No kidding China has started buying a lot of it in resent years.

 

[Ken]

On our trip to Owattona last week my wife sold $500.00 worth of silver jewelry for scrap at her favorite jewelry shop. Yesterday she asked about investing in silver. We found hundreds of silver coins at Galen's, but they legally belonged to her son o we parted with them. What he will do with them remains to be seen.
Silver, 22 ammo, and gold are good to have on hand right now. I don't have enough of any of them.

 

[bill61080]

Whats the best way to market silver coins.....????

 

[Ken]

Sell them for collectors value. Or sell them for scrap value.
Shop around for buyers. You should get 80 to 85 percent of value, any less go find someone else. Pawnshops are generally greedy.

 

[Kentucky Fisherman]

Bill, I couldn't tell if you have coins or if your question was just a casual inquiry. Are you selling .999 silver, like Eagles or Maple Leafs, or are these old pre-1964 U.S. coins? As has been mentioned, I'd for sure stay away from pawn shops. Coin shops can be fair or they can try to skin you. I'd recommend you get on Ebay and check out the prices there, remembering that some of what you see will be auctions. I think there's a filter so you can tell it to show you coin prices for auctions that have ended.

Here's some pretty good advice, with links to additional info: 3 Ways to Sell Silver Coins - wikiHow . Here's an excellent site that will tell you the "melt value" if you have pre-64 common coins. U.S. Silver Coin Melt Value Calculator - Coinflation

The precious metals sold here on the GoGo board are usually brass, lead, and whatever primers are made of. However, there are probably several members who keep a little silver and gold. I'd be comfortable dealing with many of the long-time members of GoGo.

 

[JSH]

Mine is silver colored. Last guess I had of all my alloys, close to 4000lbs.
I bought a pile of unknown alloy at a sale years ago. There were a couple of round balls in a bag, I thought maybe it was tin, took it to a jeweler buddy, I had almost 2lbs of silver. It was oh so close to getting thrown into a lead pot.
Traded for a nice model 19 and 223 rifle, got a pair of earrings for the GF.