So the question is would you jump on the bandwagon and start cracking out all those graded florins only worth $30-40 numi value to sell for melt or would you attempt to hoard and preserve them from the melting pot?
I for one hoard these coins and have saved a large amount from the melting pot due to their melt only value and I am interested in hearing how many others do this
IF Silver ever gets to $200 per oz our dollar would be super inflated and it would be a "Best Bet" to hoard whatever silver coins that you owned.
Not only because you would only be swapping a PM for inflated fiat but because all the other fools will melt the coins and make whatever you keep far more collectable because they would be far scarcer :)
Just my take on this :angel:
Anyway I think I would rather do it tough than melt even my crappy Aussie silver coins :ok:
I only hope it does go to $200 per ounce. A few years ago I heard that it might reach these types of heights, so I bought 275 ounces. So bring it on.
I wish...
I'd be happy if it went back over $700/Kg so I could offload these truckloads of predecimal silver I shouldn't have bought. ;)
But what I would do if it did skyrocket is to ditch all that NCLT crap filling up the money bin's sub-basements. $200/Oz should almost cover the inflation over all these years. :(
lol fulvio.
I like that granny bait stuff.
it so shinnnnny
I'd sell them and buy some really tough coins.
QuoteI'd sell them and buy some really tough coins.
Been there , done that :whistle2::)
wasn't the 1966 fifty cents melted like the blazes when silver hit $55 an ounce in the 70's?
Quote from: 'robbiegal' pid='52697' dateline='1402922461'wasn't the 1966 fifty cents melted like the blazes when silver hit $55 an ounce in the 70's?
Yep. Did nothing for its value either, did it? I bought a hundred or so UNC ones for $3 each a while back.
wanna double your money fulvio :P
I wish I had bought a few thousand a while back for $3
QuoteI bought a hundred or so UNC ones for $3 each a while back.
Any double bars in that lot Mate :angel:
Quote from: 'serial' pid='52715' dateline='1402962398'wanna double your money fulvio :P
I wish I had bought a few thousand a while back for $3
Thanks for the offer, but I'm not that desperate.... yet. ;)
Quote from: 'Fulvio' pid='52705' dateline='1402930482'Quote from: 'robbiegal' pid='52697' dateline='1402922461'wasn't the 1966 fifty cents melted like the blazes when silver hit $55 an ounce in the 70's?
Yep. Did nothing for its value either, did it? I bought a hundred or so UNC ones for $3 each a while back.
jeepers
how far while back?
my cheapest was $6.50 @ but that was a few years ago ... maybe about 6-7 years ago (but not a bulk lot)
they don't show up in unc too often
actually I have heard of several large hoards in wa owned by people who have owned them since new and just wont sell them as they are convinced they will go up in value
( am talking more than $30 each) they are older people who think that they have picked the next rare Australian coin
you try telling them how many million have been minted
Quote from: 'serial' pid='52736' dateline='1402981258'actually I have heard of several large hoards in wa owned by people who have owned them since new and just wont sell them as they are convinced they will go up in value
( am talking more than $30 each) they are older people who think that they have picked the next rare Australian coin
you try telling them how many million have been minted
Mintage is not relevant for the 50c round.
I shifted over 500 in Jan 1980 and cashed in for over $10,000.
During Jan 1980 silver hit about $55 an ounce for a coupe of days.
(Russia invaded Afghanistan)
(http://i679.photobucket.com/albums/vv160/ford_prefect/Australian%20Coin%20Forum/silver_all_data_o_usd_zps4b7557fe.jpg)
(http://i679.photobucket.com/albums/vv160/ford_prefect/Australian%20Coin%20Forum/silver_30_day_o_usd_zps0aec9c6a.jpg)
PAAAAARRRRTTTTYYYYYYY !!!!!
QuoteWhat would you do if silver went to $200 an ounce
It does depend entirely on how/why that circumstance occurred.
If it hits $200/oz because the price of silver suddenly soared sky-high, I'd probably cry a lot - at all the nice coins I could no longer afford anymore and at all the nice coins I couldn't afford being sold off to the scrap metal merchants instead of the coin dealers.
If it hits $200/oz because the economy has collapsed and the Australian dollar went into a hyperinflationary death spiral, I'd probably try to find out where those people lived, who have long predicted such a thing would happen but whom I'd always written off as tin-foil-hat-wearing whackjobs, and ask them if there was a vacancy for an analytical chemist in their secret fortress.
If it hits $200/oz because the price of silver suddenly soared sky-high, I'd probably cry a lot - at all the nice coins I could no longer afford anymore and at all the nice coins I couldn't afford being sold off to the scrap metal merchants instead of the coin dealers.
this one
ha ha Sapx
I like your sense of humour there!
"If it hits $200/oz because the economy has collapsed and the Australian dollar went into a hyperinflationary death spiral, I'd probably try to find out where those people lived, who have long predicted such a thing would happen but whom I'd always written off as tin-foil-hat-wearing whackjobs, and ask them if there was a vacancy for an analytical chemist in their secret fortress."
On the serious side of things if the long predicted Middle East dramas really explode then Gold could easily hit US$2000+ which would drag Silver up to US$50+ which would make life interesting.
Can't wait for bullion to sky rocket as I am holding around several ounces of gold and silver.
Roll on the revolution.
Amen to that GS :)
VIVA LA Goldie, VIVA LA Goldie, VIVA LA Goldie :yahoo:
Goldie for el president :wavemulticolor:
I don't think anyone here has to worry about silver ever getting to $200 an Oz but then stranger things have happened :winkectra:
silver is being consumed in record amounts. Note I use the term consumed as it is not being recovered and once used it is gone. a us cruise missile has 15kg of silver in it alone and once fired it is not coming back
Iphones, solar panels, gym clothes, medical sterilisation equipment, computers, deodorants, advance weaponry the list goes on.
this was not the case 35 years ago, then it was used in day to day items eg coins, cutlery, cigar boxes, watches, tea sets etc so it was in abundance and recoverable.
we are slowly getting though these old reserves and not creating new ones eg no current circulation coinage is silver, peoples household goods are not silver anymore who here has more than 5kg of silver in their house?
it is a finite resource that just hasn't had a shortage... yet. if there is suddenly a demand for it eg found to cure cancer then the price could very well get to $200 without the economy collapsing.