Your Questions About Storing Junk Silver Coins

0
0
0
0
0
0
0
0
0
or copy the link

Daniel asks…

Should I be buying up these silver coins?

My local coin store has 40% Kennedy halves at 3% off spot. Should I be jumping all over this and buy them up or should I just spend my money on an internet purchase of several 10 t.oz silver bars @ spot + over spot cost + shipping?

i’m not into coins for collecting purposes, coin grades don’t matter to me. I’m into silver for securing my savings into something of worth rather than worthless federal reserve notes.

Justin answers:

Which do you think will make the easiest thing to sell? I don’t buy “the sky is falling” scenarios of a lot of these disaster-merchants who say that somehow we’ll be able to trade junk silver for food – Coz food will probably be more valuable than silver if the shtf…

Practically, your own local coinage may have a premium added by the coin shop, (buying below spot is always a good thing) but that could be offset by the fact that since they are legal tender, they don’t attract Capital Gains Tax.

Your 10oz silver bar is bullion – that WILL attract CGT when it comes time to sell it.

Honestly, I personally would buy the bullion coz that tends to be priced at spot, plus a reasonably small premium. Coins bought purely for their silver content are ok for the aforementioned reason, but they’re bulky.

Powered by Yahoo! Answers