
TO BUY BULLION OR NOT TO BUY?
Hi everyone! I don't know why I said that my blog's seem not to help anyone. That's not going to stop me from writing. I heard a collector state the he does not buy bullion. So I asked him do you buy the one ounce silver liberty that just celebrated thirty years? He said yes to my surprise! I replied well that's bullion. He was shocked. I told him look it up in the RED BOOK. Then I informed him that the mint also makes gold bullion. It hit me that maybe other's don't know what bullion is and what it is not. Quick example. You have a collection of silver. Let's say silver hits sixty dollar's an ounce. So you need some money,and you collect the coin's to bring to the smelter. Now you have silver bar's and collectable coin's. What do you bring? You will get the same price for bullion as your collectible coin's. You see they don't care if your coin is a proof 70 or a one ounce bar. They don't care how much you paid for it either. So I say like I have said before diversify your collection. Yes buy bullion. Or should you rather melt a two hundred dollar coin. Some of today's bullion is very appealing,and not to expensive based on the market of the day. You can buy two ounce coin's for fifty dollar's. The five ounce bullion is cheaper per ounce. If you get a catalogue from Coast to Coast I saw five ounces for one hundred and thirty nine dollar's. What will you melt? Really if silver goes where the supposed experts say. You will be on your way to make some money! It's natural.
Comments
jsheng
Level 3
First of all, your blogs do help. This was a great post and I learned quite a bit from it. Even though I'm not interested in investing in precious metals for profit, I still enjoy collecting silver coins because they are appealing to look at.
Mike
Level 7
Thanks 7180 for your comments. I see you agree. That means a lot. Even if you disagree that would be fine. I take any info I can get it all helps. Take care mike
user_7180
Level 5
Diversity in any collection and financial plan is like having insurance against bad times!
Mike
Level 7
Longgstrider! I must say congratulation to you! The first thing my mentor told me is buy what you like! Not the coin someone's trying to sell you. You buy it because of the art,detail,workmanship. Remember you have to look at it. And yes some are bullion. So what. If and when the time comes take the bullion coin's slabs and go make some money. Why don't people get it? I wathced a show last night. One hundred and twenty nine dollars ten dollars cheaper than the company I mentioned. For five ounces! Do the math 50 x5 equals 250.00. Think you made some money! Sure did! Thanks
Longstrider
Level 6
Glad you agree. If we all work together, we will be one wise bunch of collectors!
World_Coin_Nut
Level 5
Well put Mike. I don't typically purchase bullion coins but if silver goes high enough it can all become bullion.
Longstrider
Level 6
Once again, I agree completely but for a couple of reasons. First is as you say. Having a little "hard" cash on hand can't hurt. Quite a few Morgan dollars were melted down when silver went sky high in the past. Like the man says, silver and gold american eagles are bullion. You can buy them as MS 70's or Proof 70's or BU. All the same when it goes bad and your turning them just for money. All one ounce of metal. I also collect some bullion as I enjoy their beauty. Some of the Canadian, Mexican and Australian coins are works of art. Not to mention some of the island nation in the South Pacific like Niue and Tuvalu. Their governments saw how much money they can generate having these high quality coins made. I don't buy a lot but I buy the ones that "talk" to me. I'm not talking about silver stackers. That's a whole 'nother thing. You can see some on you tube. AS as always in our hobby one should be as well read as possible. Thanks!
Mike
Level 7
Thanks it means a lot.mike
ShriekenGriffon
Level 5
yes your blog do help :)!