So I decided to stop at a local coin shop to check out their inventory and ask some questions and ended up purchasing three 1oz plata pura mexican silver coins. I did it more as a tiny investment and may be looking into purchasing more as a bit of a hobby and safety net due to poor monetary policy by the Fed. Anyway, since I’m not really about having an attractive showcase, should I be looking into just purchasing junk silver (half dollars, dimes, etc)? Is buying silver bullion purchase a smarter choice? Any input is appreciated!
Both can be profitable. I think junk silver is better for large investments because it takes more of it to see a gain when the value increases. And it’s more subjective when you sell it. You almost have to shop, at least in my experience.
Rounds are better buy for smaller purchases because it’s spot/bid straight across, every time. Stay away from anything with an added nuimismatic value. At that point, you end up buying it like a baseball card. So, unless you have like a collection of rare coins it’s not really doing anything but preventing you from buying more.
It might also be a good idea to mix in some quarters, tenths of gold if you can.
Get both. Get different stuff each time. And once you have about 100 oz or so, start getting exclusively 10 oz bars and fill briefcases with them. Then get two 100 oz bars to use as bookends.
of course for the metal, youd have to mint it for use.
What exactly do you mean when you say “mint it?” Why is it necessary before use? Use for what?
He means that most commercially produced silver bars arent of suitable dimension for bookends, I think. And he is right. Still, I thought there was a brand that was more blockish, but I cant seem to find it.
If you decided to buy because you chose silver as an insurance against inflation and/or like to collect coins, it was the right call. Junk silver coins are more of a low level collectible item (due to the enormous quantity available) than an investment and with silver supply, chiefly from Mexico, more than capable of meeting demand it makes no sense to buy low grade silver as an “insurance policy”.
I will now give you the same advice I give everybody else: silver is tempting because it’s still pretty cheap, but if you are serious about your “insurance policy” please consider buying gold. There are many lower values coins available for purchase: T/3 Indian Head $1, 1/10th Krugerand, 1 Rand, Soviet Chervonetz (surprisingly cheap given the gold content), Mexican 2 and 2 &1/2 Pesos.