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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 04/20/2008 : 16:10:39
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quote:
Originally posted by davboz
"I don't know where you guys get your money but...."
,.......uhhhhhhhhh,......WORK!??!
Lots of hard working people here who find it difficult to make enough money to buy precious metals. A copper penny buying habit alone can put a strain on many a person's budget these days. |
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Think positive. |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 04/20/2008 : 20:19:02
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quote:
Originally posted by davycoppit
Right now I only buy the really good deals I can find(usually cheap sterling and gold filled items). But,I'll be graduating this May, then every spare penny will be going into metals for the next couple of years.
I sent some gold filled stuff to a refiner once. They pay $30 a pound. I worked the numbers and realized that was a fair price, but not worth my time to fiddle with.
About silver: It will be about two years to make a profit, maybe double then. You can double your money immediately in copper pennies, with a good chance of a further increase in the same period. So it makes better sense to buy copper now, rather than silver. |
A penny sorted is a penny earned!
Please use tinyurl.com to post links. Long links make posts hard to read. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/21/2008 : 08:13:29
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quote:
Lots of hard working people here who find it difficult to make enough money to buy precious metals. A copper penny buying habit alone can put a strain on many a person's budget these days.
Yep....a buddy of mine is on board with the copper hoarding but just doesnt make enough money to do it on the scale he wants to. In other words, he works just as hard as anyone else, but the resources are limited for him to obtain a large amount of pennies to come up with 5,000 copper cents to resell. So it may make you say wow, this is only $50 in pennies but everyone has their limits based on their personal situations. I am lucky to have a good paying job, so I am taking advantage of the extra income and buying PM's quite a bit lately. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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misteroman
Administrator
USA
2565 Posts |
Posted - 04/21/2008 : 20:21:11
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Bought over $1K of silver this weekend and wake up and its down 53 cents!!!!At least it went back up 10 cents
D
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Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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JSutter
Penny Pincher Member
214 Posts |
Posted - 04/21/2008 : 20:34:19
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You can double your money immediately in copper pennies
In theory you can. There's not enough of a market to do it consistently yet though. They're a good investment for down the road but it's mighty hard to get a 100% profit right now. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/22/2008 : 06:49:23
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Hit a side walk type of sale that returned to a local shopping center. Same old guy and his wife were there with their coin stand. At first he was wanting outrageous prices, contrary to last time. He was kinda rude. He told me I couldn't get SAE's ANYWHERE for the price I offered for his. He wanted $23 and up on his circulated SAE's. 10 oz Ag bars for $210.00!! I politely told him his prices were too high, and I passed on all his coins. This was Friday night.
Now to Saturday. First thing in the morning I hit my usual coin dealer. Easily pick a roll of circulated (only type I buy), SAE's for $360. That's $18 each. So....I go back to the old man. I hand him the roll and tell him the price I paid, and if he wanted to buy some from me....Immediately his prices dropped. His 10 oz Ag bars went down below spot, and now he had some junk 90% that he told me the day before he didn't have. Now we are talking. I make a few purchases and he told me they would be back this summer.
That was my experience. In my opinion, he was charging high prices because he knows he can sell all day to the uninformed public.
Deal
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Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/22/2008 : 07:01:32
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Oh yeah, while I was at the coin stand, a guy came up and bought ten normal Ike dollars for $1.75 each! Ouch. Old man offered a guy $81 dollars for a 1/10 oz GAE. Guy passed. I took the guy aside and offered $90. Sold.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/22/2008 : 08:07:41
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quote:
That was my experience. In my opinion, he was charging high prices because he knows he can sell all day to the uninformed public.
The old saying "buyer beware" fits nicely here. Some people buy coins not knowing what their metal content or market value are and get hosed in the process. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/22/2008 : 08:09:10
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| Bought some junk silver coins this past weekend from a local guy and will buy another very small collection today. They are tiny but eevry little bit helps and if it's something I can get much more cheaply than from a coin dealer or without the hassles of EBay, then I will keep doing it. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/23/2008 : 17:02:31
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Monthly PM budget after all 401k, retirement accounts and mutual fund deposits (all of which I'll be increasing next month to take advantage of current and future market lows):
Platinum and/or Gold 40%
Silver 20%
Numismatic (slabbed coins) 20%
Copper 20% (with zincs from initial purchase of $800 in pennies, as well as all newly acquired zincs being constantly rolled back into Cu fund) I have made it clear to relatives, friends, and coworkers, that I only want boxes of pennies as gifts (otherwise they're just wasting their money, as I'm not "into" supposed luxury items, fashion, gag gifts, or anything having to do with popular culture).
It should be noted that I am now officially hoarding cash (only the Cu penny hoarding will continue as usual). IMO there will have to be a major correction before PMs can truly
advance again. I will be waiting patiently, and I should be well-positioned to make a move.
*Figures are based on a minimum of $1,000 in disposable income per month.
(I may not be rich, but somebody up there is taking good care of me)
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/23/2008 : 17:13:01
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quote:
It should be noted that I am now officially hoarding cash (only the Cu penny hoarding will continue as usual). IMO there will have to be a major correction before PMs can truly
advance again. I will be waiting patiently, and I should be well-positioned to make a move.
I am doing the same thing. I had moved some of my savings into PM's but not the level of PM's that I want. I am holding the cash savings until the next low hits and then will hopefully be able to buy quite a bit. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/23/2008 : 17:13:02
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quote:
Originally posted by starwarsgeek171
Monthly PM budget after all 401k, retirement accounts and mutual fund deposits (all of which I'll be increasing next month to take advantage of current and future market lows):
Platinum and/or Gold 40%
Silver 20%
Numismatic (slabbed coins) 20%
Copper 20% (with zincs from initial purchase of $800 in pennies, as well as all newly acquired zincs being constantly rolled back into Cu fund) I have made it clear to relatives, friends, and coworkers, that I only want boxes of pennies as gifts (otherwise they're just wasting their money, as I'm not "into" supposed luxury items, fashion, gag gifts, or anything having to do with popular culture).
It should be noted that I am now officially hoarding cash (only the Cu penny hoarding will continue as usual). IMO there will have to be a major correction before PMs can truly
advance again. I will be waiting patiently, and I should be well-positioned to make a move.
*Figures are based on a minimum of $1,000 in disposable income per month.
(I may not be rich, but somebody up there is taking good care of me)
Sounds like a fair plan. It doesn't matter if the budget allows for $100 a month or $10,000. Every bit counts. Glad to see I'm not the only one buying AND "patiently" waiting for a correction.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/23/2008 : 17:17:55
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"I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks."
My older son does that for me all the time now. I have only done it once. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/23/2008 : 17:23:58
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quote:
Originally posted by starwarsgeek171
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"I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks."
My older son does that for me all the time now. I have only done it once.
Nice. Sometimes there is some nice stuff in there.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/23/2008 : 17:36:02
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| He found a wheat one time! |
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Nickelless
Administrator
USA
5580 Posts |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/24/2008 : 23:38:58
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quote:
Actually, after seeing this Wall Street Journal article, I think now's the time for me to stop planning to make the major food purchase I'd been planning and actually make the purchase:
You must be logged in to see this link.
Good article and something I have been telling the girlfriend for awhile. Now they are rationing rice at Costco and Walmart which I pointed out to her a few weeks ago could happen. I dont mean to sound alarmist, but I plan to stock up some more this weekend. If you have a Big Lots store in your area, hit it up. If your store does the 10-for-$10 deal, load up too. The worst case scenario is that prices stabilize at this point, and you end up with alot of food that you will eat anyway. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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eharrison
Penny Pincher Member
USA
234 Posts |
Posted - 04/25/2008 : 01:03:16
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wow biglots and dollar stores. Didn't think about that. I am going in the morning (it actually is morning.....) to make a few drop offs and make some more long-term food purchaces.
More to the point of this thread I also plan on making a small silver buy (maybe $50-$70)
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Freedom is popular
That's why I voted
Ron Paul! |
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What are you doing, purchasing wise.
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