Price of Silver and Gold

[Sir Henry]

I can’t believe the price of gold and silver. I own very little gold but do have a bit of junk silver coins. I purchased most of mine between $4 and $16 an ounce so I’ve had it awhile. The biggest problem of owning silver is selling it for full spot prices. Anyone else into metals?

[Hatchdog]

I have some junk coins that I am thinking of selling. Washington State just earlier this year put a 10% tax on the sale of precious metals. Figures . Of course I can drive across the border to Idaho and avoid the tax.

[cooperhawk]

Ten or fifteen years ago we bought some gold or silver. We bought the gold when it was about a thousand dollars an ounce and the silver was twenty nine. Gold went up pretty well over the years but I was disappointed on the silver.
How much did we buy? Well we spent ten thousand dollars each year. One year gold and one year silver.

Last Fall when I purchased the Bronco I sold a bunch of silver at almost sixty dollars to help pay for it. Now that wasn't too bad.
The gold however we are hanging onto as it's really appreciated very well.

I also have several shot bags full of nickels, dimes, quarters and half dollars that are all pre 64. These are considered melt value and I plan to hold onto them and pass them on to Grandkids. Someday the collector value may be more than melt.

I also have a few silver dollars put away.

[Sir Henry]

Ten or fifteen years ago we bought some gold or silver. We bought the gold when it was about a thousand dollars an ounce and the silver was twenty nine. Gold went up pretty well over the years but I was disappointed on the silver.
How much did we buy? Well we spent ten thousand dollars each year. One year gold and one year silver.

Last Fall when I purchased the Bronco I sold a bunch of silver at almost sixty dollars to help pay for it. Now that wasn't too bad.
The gold however we are hanging onto as it's really appreciated very well.

I also have several shot bags full of nickels, dimes, quarters and half dollars that are all pre 64. These are considered melt value and I plan to hold onto them and pass them on to Grandkids. Someday the collector value may be more than melt.

I also have a few silver dollars put away.

I’m thinking of selling and adding onto the house. It wouldn’t pay for the entire remodel but would take care of more than half. Then I think I should hang onto it for when SHTF. When eggs hit $20 a dozen I bet I can get a dozen for a pre-64 quarter. Right now I can buy three gallons of gas for a quarter.

[cooperhawk]

We hang on to most of it for when the SHTF as well. I sold enough silver to pay eleven thousand dollars down on the Bronco. We plan to sit on the rest for now.
I recently went to a birthday party for my now twelve year old grandson. I gave him a silver round, (1 ounce) and a half dollar with the date line (1776-1976). I asked if he knew what that year meant and what this year is. Sadly, he did not. He's a product of a liberal mother and the Minneapolis school system.
I explained that this year is the 250th birthday and he brightened right up. Now I am told by his Father he is watching the silver market. My job is complete there.

[cooperhawk]

I’m thinking of selling and adding onto the house. It wouldn’t pay for the entire remodel but would take care of more than half. Then I think I should hang onto it for when SHTF. When eggs hit $20 a dozen I bet I can get a dozen for a pre-64 quarter. Right now I can buy three gallons of gas for a quarter.

Carol and I have saved and invested for years and now I am in my eighties and she is younger. (I am sworn to silence by fear of vengeance if I reveal her age). However, we are now of the age that we saved the money for. The hardest thing for Carol is to start withdrawing money from investments because for years we did just the opposite.

It's your money Gene, you must learn to reverse your frugality of the past and enjoy it now.

[Sir Henry]

I’m thinking of selling and adding onto the house. It wouldn’t pay for the entire remodel but would take care of more than half. Then I think I should hang onto it for when SHTF. When eggs hit $20 a dozen I bet I can get a dozen for a pre-64 quarter. Right now I can buy three gallons of gas for a quarter.

Carol and I have saved and invested for years and now I am in my eighties and she is younger. (I am sworn to silence by fear of vengeance if I reveal her age). However, we are now of the age that we saved the money for. The hardest thing for Carol is to start withdrawing money from investments because for years we did just the opposite.

It's your money Gene, you must learn to reverse your frugality of the past and enjoy it now.

I hear you there. I don’t want to be the richest man in the cemetery. I’m going to add the addition it’s just a matter of which money I use. If I sell the silver I would have more cash in the bank. And if I use the cash in the bank I would still have the silver.

I don’t need a bigger house, a newer car and more toys than my neighbors. What I want is to have is a home I can live to be 100 in and a reliable car. Right now the house barely meets my needs and wouldn’t in another ten years. I would sell and buy the perfect house but I would be giving up a million dollar view.

For $120k to $240k I could build the perfect addition to live out the rest of my years. Watch for a new post in my remodel thread.

[cooperhawk]

I hear you there. I don’t want to be the richest man in the cemetery. I’m going to add the addition it’s just a matter of which money I use. If I sell the silver I would have more cash in the bank. And if I use the cash in the bank I would still have the silver.

I don’t need a bigger house, a newer car and more toys than my neighbors. What I want is to have is a home I can live to be 100 in and a reliable car. Right now the house barely meets my needs and wouldn’t in another ten years. I would sell and buy the perfect house but I would be giving up a million dollar view.

For $120k to $240k I could build the perfect addition to live out the rest of my years. Watch for a new post in my remodel thread.

The dollar bill depreciates over time but gold and silver do not. I would use the cash. Every year we earmark so much money to do capitol improvements to our home. This year we will replace some fencing around the pool and repair the front deck. It's really hard for Carol to have to take disbursements from her investments, but it is required by law. You will run into that soon I think. We try to invest the money wisely into things that improve lifestyle and value of our home.

[Sir Henry]

I hear you there. I don’t want to be the richest man in the cemetery. I’m going to add the addition it’s just a matter of which money I use. If I sell the silver I would have more cash in the bank. And if I use the cash in the bank I would still have the silver.

I don’t need a bigger house, a newer car and more toys than my neighbors. What I want is to have is a home I can live to be 100 in and a reliable car. Right now the house barely meets my needs and wouldn’t in another ten years. I would sell and buy the perfect house but I would be giving up a million dollar view.

For $120k to $240k I could build the perfect addition to live out the rest of my years. Watch for a new post in my remodel thread.

The dollar bill depreciates over time but gold and silver do not. I would use the cash. Every year we earmark so much money to do capitol improvements to our home. This year we will replace some fencing around the pool and repair the front deck. It's really hard for Carol to have to take disbursements from her investments, but it is required by law. You will run into that soon I think. We try to invest the money wisely into things that improve lifestyle and value of our home.

I’ve had to do the mandatory withdrawals for several years. It’s a traditional IRA that I’ve earmarked as a tithe. If it’s paid directly to the Church I don’t pay income tax on it. Most of my assets have already been taxed and only the dividends are now taxed.

I only get 4-6% on it but will get that every year. Gone are the years of making 40% or loosing 20%. At my age I might not live through another recovery should I take a loss. It’s a plan I started about 55 years ago to take higher risks young and slowly go to more secure as I got older.

The silver was always a smaller percentage for if/when the SHTF.

[cooperhawk]

The silver was always a smaller percentage for if/when the SHTF.

I sold a bunch of silver when I purchased the Bronco last Fall. I made pretty good on it, finally.
The silver has been slow getting there.

At my age I'm just spending our children's inheritance anyway.