Floridian Posted August 19, 2020 Report Share Posted August 19, 2020 @Pitcher @coorslite21 @NEPatriotsFan1 @ChuckFinley @ladyGrace'sDaddy and anyone else interested in this topic. I've been trying to buy as much silver as I can, but I don't have any gold. I've been listening to videos from Lynette Zang of ITM Trading. She advises that "collectible" gold and silver is what she is buying and no one should buy anything else because the bullion coins, (which is what I bought) won't be worth as much and can be confiscated by the government. (Bullion are gold or silver bars, rounds, Eagles, etc.) Today, I called ITM Trading and spoke to a 40-year "expert" in the field. I had lots of questions. This "advisor" told me that the government confiscated gold in 1933 (which I knew) and confiscated silver in 1934, but if you buy "collectible coins" they are REAL MONEY, not like bullion coins and the government won't confiscate your collectible coins, if such a thing should happen again. She advised me to sell my silver and buy collectible silver coins. I said "I don't know anything about the grading of collectible coins, etc. Also, I said, if bullion coins are not good, why do you sell them? She responded that some people insist on buying the bullion coins, so they sell them, but she is here to help "educate" people. She said the collectibles hold their value - whatever the price of gold is, this is what you will get per ounce when you sell, because these coins are REAL MONEY. Also, some collectibles are worth a lot more than the gold value. As far as bullion coins, if the bank or government wants to give you half the price of an ounce of gold, that's all you can get for it, and she gave some examples of this happening in other countries. So just to compare, I inquired about the price of a 1 oz. Gold Eagle, $2,078 and 1 oz. Gold Collectible Coin $3,600 to $30 million (depending on how rare/perfect it is). I realize that ITM Trading is trying to make the most money possible, but are they right about "real money" vs bullion coins? Does anyone have any information to add, besides telling that woman to "go jump in the lake"? I guess my question is - Are we doing the right thing by buying bars, rounds, Eagles, etc? 1 1 1 Quote Link to comment Share on other sites More sharing options...
NEPatriotsFan1 Posted August 19, 2020 Report Share Posted August 19, 2020 I’ve gone back and forth on this subject... the truth is no one really knows... all these billion deals are selling and make a profit for the Over the spot price. I just had a friend sell me silver for $10 over spot because his wholesaler charged him a high premium... I don’t know what to believe anymore. You can always sell it privately or barter with it. I don’t think the govt is going to try to do that again. I bought mine simply to barter with during a transition so I could care less about the collectible nature of it 2 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted August 19, 2020 Report Share Posted August 19, 2020 (edited) Very limited knowledge on collectables as far as Gold or Silver go.... Yes in the early 30's they confiscated metals....and sure they could do it again.. and yes this organization profits from a sale to you....and the person on the other end of the line makes a Commission... No go for me on this one.... Now....just like Art.....Fine Jewelry...or any other collectable... if you care to take the time to learn the nuisances of what ever you are interested in.....then you would be making an investment you had researched..... That's my 2 cents.. CL Yes to Rounds and Bars..... Edited August 19, 2020 by coorslite21 1 1 Quote Link to comment Share on other sites More sharing options...
Floridian Posted August 19, 2020 Author Report Share Posted August 19, 2020 23 minutes ago, NEPatriotsFan1 said: I’ve gone back and forth on this subject... the truth is no one really knows... all these billion deals are selling and make a profit for the Over the spot price. I just had a friend sell me silver for $10 over spot because his wholesaler charged him a high premium... I don’t know what to believe anymore. You can always sell it privately or barter with it. I don’t think the govt is going to try to do that again. I bought mine simply to barter with during a transition so I could care less about the collectible nature of it I was thinking the same - that the government won't do that again. I don't think all the people that bought gold and silver would stand for it. It would cause riots, especially now that people are so experienced at rioting. 1 Quote Link to comment Share on other sites More sharing options...
Floridian Posted August 19, 2020 Author Report Share Posted August 19, 2020 29 minutes ago, coorslite21 said: Very limited knowledge on collectables as far as Gold or Silver go.... Yes in the early 30's they confiscated metals....and sure they could do it again.. and yes this organization profits from a sale to you....and the person on the other end of the line makes a Commission... No go for me on this one.... Now....just like Art.....Fine Jewelry...or any other collectable... if you care to take the time to learn the nuisances of what ever you are interested in.....then you would be making an investment you had researched..... That's my 2 cents.. CL Yes to Rounds and Bars..... Yes, rounds and bars are what most people have. I think we'll be okay. Although, I was seriously considering the $30 million gold coin. 😂 😂 😂 1 1 Quote Link to comment Share on other sites More sharing options...
TinBadge Posted August 19, 2020 Report Share Posted August 19, 2020 Have a centrifuge and a case full of wax figures on hand and if they want your silver just melt it down and make rings, pendants and charms. Doesn’t have to be pretty just needs to qualify as jewelry! its a very simple process. 2 1 Quote Link to comment Share on other sites More sharing options...
umbertino Posted August 19, 2020 Report Share Posted August 19, 2020 Interesting....Thanks Floridian for starting this thread 1 Quote Link to comment Share on other sites More sharing options...
Floridian Posted August 19, 2020 Author Report Share Posted August 19, 2020 Well, whaddaya know? Lynette Zang just came out with another video. I just listened to it. She gave the opposite advice than the “consultant/40 year expert” I spoke to this morning. From 13:17 to 18:05 minutes, Lynette says “you don’t need collectable silver because silver is about barter-ability”. She also gives her reason for collectable gold rather than bullion. From 18:05 to 19:90 minutes, she says it’s okay to pay the high premium for Silver Eagles because there’s a finite amount. That is more reflective of the true supply and demand dynamic. Additionally, silver is severely undervalued so it’s a bargain. It should be at least $600 or more an ounce. So yes, it makes all the sense in the world to pay the higher premiums for both gold and silver. Get it while you can. Then, she talks a little about the digital dollar. 2 Quote Link to comment Share on other sites More sharing options...
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