Good Or Bad Idea ??

bubbaron · Apr 10, 2018

Hello To All,
I had a quiet day and did not go out hunting today. I cleaned up my clads and have made a decision, I have decided to buy some silvers with my clad cash -ins since I don't seem to find many silvers. Good idea ??? Back at it tomorrow. The snow we had overnight is all melted so it's back to digging. HH everyone
Bubbaron NOX 600, AT PRO, AT CARROT PIN POINTER

GroundSweeper · Apr 10, 2018

Why not

lots do that or gold. I cash mine in and end up spending it willie nillie :lol:

bmattioli · Apr 10, 2018

I would say that's a good idea.. You found it so spend it anyway you want.. Mine goes into a fund to supplement my flea market finds..

Stiffwrists · Apr 10, 2018

bubbaron said:
Hello To All,
I had a quiet day and did not go out hunting today. I cleaned up my clads and have made a decision, I have decided to buy some silvers with my clad cash -ins since I don't seem to find many silvers. Good idea ??? Back at it tomorrow. The snow we had overnight is all melted so it's back to digging. HH everyone
Bubbaron NOX 600, AT PRO, AT CARROT PIN POINTER

I've been buying silver coinage with my clad finds this year. I picked up 5 Morgan dollars just last week. :clapping:

Dave1904 · Apr 10, 2018

Great idea..
I just learned the hard way that the amazon card I got from the coinstar machine cannot be used to buy coins on amazon. :laughing:

Life of a noob.

bubbaron · Apr 11, 2018

It's ironic that you mentioned Morgan's. I too have started buying them. HH

Scooterjim · Apr 11, 2018

It's a great idea if you want some silver coins. It's not so great an idea if your looking for an investment.

amc rulz · Apr 11, 2018

Key date silvers can be a great investment, with values hopefully at least keeping up with $ inflation.

Mud-puppy · Apr 11, 2018

Good Idea! Find a good local source for your purchases...Local Coin Shop, Private Party, Local Coin Club, or right here on the Forum you can buy some silver...
You will get pretty excited when you start converting your clad finds into Halfs or Mercs, or Q's or Dollars...Then, even just hunting totlots or clad snatching seems to make the whole day worthwhile when you can come home basically with a 'Walker Half' every Sat or Sun am just by kicking totter chips for an hour or so...

Puts everything into perspective regarding finds......Up here in Michigan, we have a dime deposit on all empty cans....So 12 empty cans will buy a guy a Merc dime! Slamming clad and cans and having a conversion plan is a viable, easy and fun Detecting strategy...

dirtykneese · Apr 11, 2018

HI MUD,, I wish Indiana had a deposit on cans like you have up their. People here toss them every place. You can go to the park on a nice summer day and clean house on a garbage bag full of cans. I could buy silver dollars every week.
Happy Hunting

KEN

Mud-puppy · Apr 11, 2018

dirtykneese said:
HI MUD,, I wish Indiana had a deposit on cans like you have up their. People here toss them every place. You can go to the park on a nice summer day and clean house on a garbage bag full of cans. I could buy silver dollars every week.
Happy Hunting

KEN

Right Ken? Once I started going out metal detecting, I soon discovered the various Sub-Cultures of other like minded Urban Vultures!

Dumpster Divers, Freegans, Cannies, Curb Side Set out Hunters, Trashers, Scrap Metalists...Estate/Garage Sailers, Good Will Hunters, Beach Blanket Bingoists, etc....Its all very interesting!

Like us, they get up and out on the prowl super early! One ancient Septagenarian Cannie I interviewed last year, little wiry guy trying to survive on his SS check, snatched up 16000 empties! Bragged about it and rightly so! Thats $1600! For riding around on a bicycle in a 15 mile radius before Sun-up and snatching up ditch cans!? Remarkable! Thats like one of us finding an OZ of gold and 10 Morgan Silver dollars! So yeah..

So here we are, Detectorists, a specialized subset of an Urban Vulture, going out looking for coins..keep an eye out for the real valuables, learning skills from the others...free food is always good...

metaladdict · Apr 11, 2018

Good idea because silver prices fluctuate.Buy low, Sell high.(If possible).

diggin4clad · Apr 11, 2018

Spending clad on silver or gold coins is nice if that's what you like. I cash in my clad coins at the end of each hunt season and turn them into silver and gold. These are some of the things I've recently bought with clad finds.

Oldsjunkie · Apr 11, 2018

Scooterjim said:
It's a great idea if you want some silver coins. It's not so great an idea if your looking for an investment.

Why exactly? Precious metals and real estate are really the only viable hedge against inflation and I doubt many of us are buying real estate with our clad...

The silver coin bought with found/dug fiat coinage and saved is a great investment. When the US dollar tanks and dies, that clad will be scrap to melt for utilitarian uses or to barter and the silver will be used to purchase goods and services.

Hell, I still buy junk 90% with extra cash earned working, as instructed at age 9 or so by my grandfather. Hard to argue the silver I/he was buying for $3-4 an ounce back in the day was a "bad investment", even considering the artificially low $17 we're sitting at now...

Sounds like a great idea to me Bubbaron! :aok:

Scooterjim · Apr 11, 2018

Oldsjunkie said:
Why exactly? Precious metals and real estate are really the only viable hedge against inflation and I doubt many of us are buying real estate with our clad...

The silver coin bought with found/dug fiat coinage and saved is a great investment. When the US dollar tanks and dies, that clad will be scrap to melt for utilitarian uses or to barter and the silver will be used to purchase goods and services.

Hell, I still buy junk 90% with extra cash earned working, as instructed at age 9 or so by my grandfather. Hard to argue the silver I/he was buying for $3-4 an ounce back in the day was a "bad investment", even considering the artificially low $17 we're sitting at now...

Sounds like a great idea to me Bubbaron!

Silver and gold coins are a great investment if you want to keep up with inflation but you have to sell it to get a return. They also might be good in case of a total breakdown of the economy, but dividend paying stocks reinvested over time have a better chance of surpassing the rate of inflation and they can pay you money without having to sell. The only investment professionals who recommend more than a small percentage of your portfolio be placed in silver or gold, sell silver and gold. I buy a few silver and the occasional gold coin from the us mint every year because I enjoy the art work and the wife thinks they are a great Christmas present. I know that it will keep up with inflation, but I don't consider it an investment as much as a hobby that I might make money at. Kind of like detecting.

It's not a "bad" investment, just maybe not the best if you are trying to build a retirement portfolio. Silver and gold are a safe investment and like most investments the safer it is the less return on investment.

amc rulz · Apr 11, 2018

Scooterjim said:
Silver and gold coins are a great investment if you want to keep up with inflation but you have to sell it to get a return. They also might be good in case of a total breakdown of the economy, but dividend paying stocks reinvested over time have a better chance of surpassing the rate of inflation and they can pay you money without having to sell. The only investment professionals who recommend more than a small percentage of your portfolio be placed in silver or gold, sell silver and gold. I buy a few silver and the occasional gold coin from the us mint every year because I enjoy the art work and the wife thinks they are a great Christmas present. I know that it will keep up with inflation, but I don'a t consider it an investment as much as a hobby that I might make money at. Kind of like detecting.

It's not a "bad" investment, just maybe not the best if you are trying to build a retirement portfolio. Silver and gold are a safe investment and like most investments the safer it is the less return on investment.

PM's are a much better investment than homeowner's or auto insurance, for sure. No return on those investments, for me, thousands of dollars in loss, three decades of no claims.

Stiffwrists · Apr 11, 2018

amc rulz said:
PM's are a much better investment than homeowner's or auto insurance, for sure. No return on those investments, for me, thousands of dollars in loss, three decades of no claims.

I agree that PMs are a nice way to spend clad if you like silver/gold and it is a small percentage of your overall portfolio. But insurance premiums should never be looked at as investments. They are just insurance. Hopefully, my insurance never has to pay me. I'd rather have no claims. Just have to look at having peace of mind that it is there if something happens. Although I'm probably worth more dead than alive at this point. Lol. And don't get me started on "whole" or "universal" life insurance. Investments and insurance should never mix.

Jeff (or) · Apr 11, 2018

sure, why not.

Dewsweeper894 · Apr 11, 2018

That's what I do Bubba

All my finds are treasure . Even a zink penny that isn't too crusty . Those I'm saving if I ever get behind on my taxes

,Dew

Surf Master · Apr 11, 2018

Depends

I like finding silver , not buying , basically no family here to leave it to, if i crock , i have silver in a safe deposit box that hasn't seen light in 15 year's, just saying, happy hunting Earl

Good Or Bad Idea ??

bubbaron

GroundSweeper

bmattioli

Stiffwrists

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Dave1904

bubbaron

Scooterjim

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amc rulz

Mud-puppy

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dirtykneese

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metaladdict

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Oldsjunkie

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Jeff (or)

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Dewsweeper894

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