Need help deciding what to do with my clad!

[helgriffan]

Ive decided with all the clad that i have found over the years I would purchase some silver or gold with it. Im trying to decide tho if I should purchase Silver bullion considering that silver prices are decently low right now. Or if i should purchase coins that I would really like to own someday, but probably wont spend the money on? (example a $5.00 Gold Indian head coin) Obviously if the market ever crashes It would be a good idea to have the bullion for when prices go up. But on the other hand i may not ever be able to afford to purchase coins that I would really like to own?
What would you do and why? And do any of you already do this?
Thanks Helgriffan

 

[utmike]

I turn mine into 1 oz. Silver rounds and use it as my emergency fund.

 

[Prep1957]

Man you really do need advice, new detector,new gun,new boat,new fishing gear.

 

[Elton]

If a collector of coins..Sure buy some Silver and Gold coins... just know when to sell them for a profit..
And remember they will be sitting in a safety deposit box or a drawer.LOL with all the other coins you have found..

 

[Agseeker]

If you are looking for a hedge against inflation I'd buy U.S. gold eagle or buffalo coins if you want gold. If you want silver I'd buy U.S. silver eagles. Why? Because they are 1 oz of gold or silver - you don't have to figure out what the precious metal is worth by going through a bunch of calculations to make sure you're getting your money's worth based on the current value of gold or silver.

If you like collecting coins then buy the best condition coins you can afford in whatever coins types you find interesting or attractive. Keep in mind you are going to pay more (and possibly a lot more) than what the content of gold or silver contained in the coin is worth. This becomes especially important in an economic collapse scenario where numismatic value may not carry any weight (no pun intended) - people might only be interested in the precious metal content (ie. you pay $1200 dollars for a gold coin that only has $300 worth of gold in it.)

Also remember that not all coins are 90% gold or silver, particularly if you're looking at foreign coins. So if you're looking at buying coins you need to do your research and become knowledgeable concerning precious metal content in the coins you want to purchase.

Also, gold and silver coins sitting in safe don't earn interest - they only gain value if gold and silver prices increase. And when buying gold/silver you are going to pay a certain amount above spot and when selling you will sell for a certain amount below spot. So gold/silver prices have to increase enough to cover this difference before you make a profit when you sell.

I'm not trying to discourage you from buying, just understand the system so you don't lose money.

 

[NebTrac]

Send it to me. I'll take care of it for you....free of charge. Only a fellow Nebraskan is eligible!

On a serious note. I'd buy gold coins. That's what I'd like to do.

NebTrac

 

[helgriffan]

Thanks everyone for the replys and ideas. I think I have decided to buy silver bullion coins and then if the market goes up I can always sell them and then purchase whatever else I want. But i do believe at some point in the future Silver will go back up again! And so I think that will be my best option at this point.
helgriffan

 

[helgriffan]

Send it to me. I'll take care of it for you....free of charge. Only a fellow Nebraskan is eligible!

On a serious note. I'd buy gold coins. That's what I'd like to do.

NebTrac

HAHA I would consider doing that but since your on the other side of the state looks like you missed out... dang... Ill save up my pop tabs for you though!