Monday, February 21, 2011

Silver Investing - Are You A Collector Or Investor

I decided to escape the winter weather of the upper mid-west for a few weeks and head for warmer parts - namely Laughlin and Las Vegas NV plus Palm Springs CA later. While in Laughlin, I attended a local coin dealers show. There weren't a lot of dealers there but the ones that were had impressive inventories of coins with silver far outweighing gold coins.

There were many, many Morgan Silver Dollars, Peace Silver Dollars and Silver American Eagles being bought and sold but what struck me were the majority were slabbed and graded. MS-63s, MS-64s and MS-65s on the 1878-1921 dollars and MS-69s and MS-70s on the Silver Eagles. Of course there were some pretty hefty prices on most of the merchandise and I can't say I got too excited about most of these graded coins.

I'll admit I did enjoy looking at many of them but it just reinforced in my mind that I am a silver bullion coin investor and not a silver coin collector. Not only is it less expensive but the knowledge to wisely invest in silver bullion coins is much less. God bless the gold and silver coin collectors but for me it is quantity over quality. Unless it is a coin I am really interested in such as a Morgan CC Silver Dollar, coins grades of XF or AU will do just fine. So which are you?

At the time of this post (in Laughlin), spot silver is at $33.91 for a gain on the day of $1.25! Very impressive. Let's see where this leg up takes us.

Thanks for reading.

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