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Crap! I thought I was the only one doing this.
Nop, me to :)
Sometimes I can't believe I can buy coins at melt value that are XF and 150 years old.
I recently also bough 9 Napoleon 5 francs coins (age 8 to 14 with B mark Belgium occupation) (27gr 900 Ag) for 400 euro and they are all XF and VF. I don't think those are expensive.
I have a huge lot of south american silver coins all before 1900, from every european country before 1900, American and English coins, a hughe lot of Belgium silver...
I'm actually selling 1 oz coins to buy antique coins now because of they have all this history behind it and it's just so fascinating to read about them and learn their history.
You need to really check those coins, but so far I only had about 13 fake coins and paypal refunded all of them.
If silver would ever go to 300, I'm switching to gold coins.
Yea, I stick with uncirculated US silver at less premium than Eagles.
You can buy uncirculated 40% Kennedys below spot!
Confiscation? C'mon, people. I can count the number of people I know personally that have divested outside of their normal thought process, and into PM's on one hand - and that was purely the result of me pleading.
America is fast asleep, and the gub'mnt would get all of a handful of ounces after declaring such a draconian move, all the while we all watch communist China encourage it's citizens to run out and buy them - and then point to our constitution (the part where it describes legal money)
This would be stupid. But hey - who ever said we Americans aren't stupid
i hedge my silver with jacketed lead.
Isn't numismatics fun!?
This is an investment; I don't give a shit what the forking coin looks like; 200% silver bullion, in bars; in a bank not too far away from you; on margin; eh? for the other 100%. Paying off big throwoffs in dollars; which, of course, unless, you're a complete lunatic; you understand you will be using for the next five years; at enormous profits to me. Wake up; please. Your retirement account is not a coin collection. and vice versa.
Sure, that's cool.....enjoy your coins. My roll of 50 cent "Bugs Bunny" Franklins always make me smile....in 1955 the US mint clashed their dies and accidentally gave some of their Ben Franklins buck teeth!
However, when you get into graded coins at high prices (many multiples over their melt) as this salesman is suggesting, it's a whole nother story.
Grading is extemely subjective, even from the major grading companies like PCGS, NGC, etc!
I've known people that have lost huge amounts of money buying graded and slabbed coins that nobody would by for any price near what they paid.
Also, if the shit really does hit the fan, all silver dollars will be equal.....
I'm an official thousandairre!!
No thanks, I'll hedge with Beanie Babies first.
believe it or dont, a good friend of mine was convinced those damn beanie babies would have value forever.
i tried to talk sense into him.
he bought a shitload at their peak prices.
it was his(no shitting you) retirement plan.
like 70k dollars worth of the things that are now worth prolly 70 bucks for the lot.
how many people collect value free crap like that, longaberger baskets,franklin mint collectible plates
and they truly believe it is a store of wealth that they can one day draw upon
makes me ill.
Too bad there wasn't a way to short the Beanies. Absurd.
I'm selling a lot of basement collectibles/crap on eBay right now. 10 years or more after purchase, I'm getting 20 to 50 cents on the dollar for a lot of stuff. Collecting just doesn't make sense unless you really enjoy it as a hobby.
It only makes sense when no-one else is doing it, and you are in an economic uptrend. Then you can capitalize on the nostalgia of the new rich.
When too many people start making money, everyone does it, and those things that are collected never actually gain any value.
Exactly. Like baseball cards or comic books; they were quickly discarded, but once boomer nostalgia set in: Action Comics #1 value $1,000,000... Suddenly everybody thinks the mass-produced stuff of today will be their ticket to riches in the future.
So there's still yet hope for my SNES cartridge collection!?
That is sad in so many ways.
If the fear is gold/silver bullion confiscation, then roughly made jewelry will be far better than collectible coins. Collectibles may also be confiscated and be reimbursed at the official rate. The chances of jewelry confiscation and destroying a whole industry is nearly zero.
See the story I posted sometime ago. click on the post below:
I would have belt buckles that would make rodeo champs and pro wrestlers cry!
Lets assume we're IDIOTS.
The Gv't says we want em.
A 1oz Eagle Gold, is legal tender for $50.00, you think for ONE second you will get SPOT?.
Dream on. The US Gv't supposedly has approx 8100 metric tons of gold bars, official price is at an unreal stupid price of $42,xx per ounce.
I read an article that said they WERE going to seize,order it turned in, when it hits $2k per oz, YOU will receive $200.00 per oz.
Mighty white of em I'd say.
And to add to that, they can kiss my ass, as I will give them Mao's special first.
My version of Political ower.
The roiling hatred I have for thieves , esp the ones elected to take the best care of their country,the Const & BOR's, and people beggars description.
Especially when I KNOW its on purpose.
Call me Santa Anna,because there will be no mercy if it comes down to show em, or fold em.
No Mas, No Mas.
+ Dos Mas!
In that case one could just invest in a welding torch and a bucket of water. If worried about the man, melt your bullion into gold or silver shot and claim its for your hobby of making jewlery. You'll lose all that premium but still have your metal.
I have wondered if it would be worth creating a rough mold of a rare coin of each metal. Worse case scenario...you cast a bunch of fake collectibles that won't pass the sniff test of a real collector but at least the IRS lackey reviewing your holdings may believe them rare (if collectible coins are exempt).
Silver confiscation is not a realistic possibility, because total private silver holdings are so small and diffuse.
I am holding some mint original BBs with mint tags. Let me know if you're interested. I will accept only gold and silver as payment...
Beanie Babies? My niece a few years ago sold one on e-bay for 525.00US. I was stunned. She picked it up at McDonalds with here kids value meal. What a deal.
How about a few dozen complete Barbie and Kens, or Howdy Doody Lunch boxes,Lone Ranger, Roy Rogers,etc,etc.( those are going for a small fortune now).
When I was a kid, their was nothing but copper, silver and gold coins, and Silver and Gold certs.(cashable at the only bank in town).
We were young and stupid, always on the lookout for a Lincoln 43 copper, or a '09 VDB "S".
How many treasures I passed over.
One, really two still make me sick, we kept baseball cards in shoeboxes.
I had, HAD, a Honus Wagner card, and a Ty Cobb, the BABE,Pee Wee Reese,Ted Williams were a dime a dozen,Mantle, Maris,etc.etc.
I have NO clue were Mother threw them away.......lo, those many years ago.
Coin Collection=Beanie Babies; same thing. utterly riduculous.
I like numismatics just for the collection/history value. It's fun to have an assortment of history, plus they make great gifts for kids!
VERY mature KIDS.
I worked in the early 70's part time 7-11, had a kid bring in a $20 St Gaudens,to buy candy and crap.
I knew, someone was going to be dead later..............LOL
Luckily his Mom came in, described it, and said she had to get it back, or else.(the kid was DOA).
I laughed and told her I knew someone would most ,likely come in frantic, so once she told me what it was, I returned it to her.(the kid, to this day owes me his life), LOL.
I remember that when I was a kid, I traded my mothers jewelery for a cheap ass watch.
When my parent found that they went crazy and went to the other kid and their parents.
The parents first said they didn't have them anymore and closed the door.
All I remember is that my dad had the cop come over and forced a search of their house.
The jewelery was found and given back to my mother.
Now my sister has those jewels but they where worth about 75K in todays money (euro).
Needeles to say, that the other kids wasn't a friend anymore :)
And all I got was a lecture of a few hours.
Why does this read like an advertorial rather than like useful ZH material?
Because it's a "sponsored post" - which seems to be the first of its kind?
TD - not a fan of this development. As a preference, why don't you ask interested contributors to somehow subscribe to your blog with an annual donation of some sort?
But having sponsored posts seems to be a slippery slope...
Noticed those words after I posted.
Not a good development. Although if this is a new trend, do us all a favor and charge madhedgefundtrader $100k (or more) for each post of tripe he submits.
Well, ZH is probably becoming a victim of its own success, meaning the need to cover increased costs. This isn't Wall St., the rules of economics actually apply here!
Perhaps Tyler needs to stop hosting all of Robo's gratuitious T&A pix and charts from the casino?
That would be a step long, LONG overdue.
Also dumping Leo Kolonasskiss and his smug and venal defences of the status-quo.
I would think if we ALL sent ZH a check, then this would not have to be the case.
Lear is far better than Goldline, bought a ton of crap from them for a while, could not take the delivery times.
At least his post for Nuimismatics/Mix makes sense,,,,,,GL tries to sell you rotten shit right off.I puke evertime their commls come on.I have noticed a 10 fold DECREASE in ads for Gold sales on T.V. over the past year.
Beware, Glenn Beck and Goldline were pushing "numismatic" swiss gold fracs wayyyy above spot. You have to know alot for numismatics and they can very risky (more so than the metal price even!!)
Want to have some fun and stick it to rip-off, boiler-room scams... and have a LOL day?
Some how Goldline got my tel# a couple of years ago... (probably fenced to them... I'm not sure by whom)... so every time they called I would play stupid with them. Let them spin out their BS.
Then I would start in on them acting the rube, telling them I got all this cash and I just have no idea how to buy gold.
I would be ever so polite, asking really naive questions...kept one of their, self-described "Gold Experts" on the line for an hour first time. Told him he would have to call back after I talk to the Old Gal. Left him with the impression I was just another mark.
Finally after playing the game out a couple of more times with this dolt, I asking him where he got my number for their sucker list to call and peddle their lies?... about why spot prices were half of their quotes? Brought up the GATA Gang... Jim Sinclair .... James Turk... asked them how much was their commissions... etc.
I about busted my gut laughing as he sputtered and then finally just hung up on me. Needless to say I was never called back again.
It was fun while it lasted.
Trust me, its not Glenn, he hasn't a clue whats being pushed.
The Sponsor sure as hell does,still doing it after facing a Congo committee.
Which is fine w/me, if a man is too stupid to do due dilgence on whatever he buys, its on HIM.( you buy cars,or trucks,TV's, Big Screens, w/out kicking tires?.
Uhhhh, no thanks.
Lear capital can shove their "collectable" crap right up their ass.
Here's a hint: during gold confiscation, federal agents NEVER went door to door. Further, only about one in 10,000 own any silver. Hell, lets be generous and say one in a hundred. How much is it going to cost to check the other 99 homes? How much BLOOD will be shed when everyone's home is torn to splinters looking for silver or gold?
It's not going to happen. Maybe in some Mad Max jerk-off fantasy, but then it won't be the government doing it, and owning "collectibles" won't help you.
Edit: just noticed this is a "sponsored post". Nice. I'll work in some money for a donation for ZH next month. I would advise everyone else to do the same.
If they ever would, they would go into a pit in my yard :) 2 FEET UNDER! :)
hedge your physical silver with IEDs under the floorplan!!!
I don't see how PM confiscation would make sense in light of the current dollar system. It wouldn't help their cause to admit that gold and silver are money rather than just commodities.
That's right. They'll bring no light upon the validity of gold as money until they revalue the Ft. Knox (alleged) holdings from the current $42.22 to market prices. When they do that I'll look at doing some selling.
Yeah thanks, Lear Captial for encouraging my mother to spend $650 dollars on a Peace Dollar that is gonna end up buying the same amount of chicken scratch as the beat to shit one I just paid $28 for. Douches.
It's been several months since I threw any money in the kitty. If it helps avoid this shit, I'll go do it right now.
Had a discussion on this topic recently with a friend who, let's say, is in a distant version of this game - perhaps the reason Tyler cannot charge a subscription/membership fee to readers and commenters is of a regulatory nature. Would be interested to hear if that's the situation in the case of ZH.
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