ownyourfuture
Thinks s/he gets paid by the post
- Joined
- Jun 18, 2013
- Messages
- 1,561
I'm ‘not’ looking to amass hundreds of pounds of silver, & I'm not a doomsday prepper.
I just want to have a small percentage of my total assets in this metal. I'd like to amass at least 500 ounces.
*No political comments please*
I decided to go with 90.00% silver 50 cent pieces. I started buying ‘lots’ on eBay in early March. I'm up to 292 coins consisting of around 70.00% 1964 Kennedy’s, 20.00% Franklins & 10.00% Walking Liberties. As far as the condition of the coins, the Franklin & the WL’s I'm buying are in circulated condition, & the Kennedy’s are mostly circulated as well, although there's probably about 20 that would be very close to brilliant uncirculated, & another 40 near mint.
At this point, my ‘total’ cost for the 292 coins is $2,122.84 or $7.27 apiece.
90.00% 50 cent pieces have 0.362 Troy oz. silver.
0.362 x 3 = 1.086 Troy oz. Translation: 3 halves = just over 1 ounce silver.
To get a total of 500 oz, I’d have to buy 1,382.00 of them.
1,382.00 x 0.362 = 500.284 oz
If my cost basis per coin stayed at $7.27, I’d spend $10,047.14 for the 500 ounces. ($20.09 per oz)
1,382.00 x 7.27 = $10,047.14
I'm beginning to wonder if it wouldn't be a lot easier to go this route ?
https://www.usmoneyreserve.com/shop/bullion/silver-american-eagle-500-coin-monster-box/
$10,111.46 for 500 1-ounce 99.9% pure silver American Eagle Coins. ($20.22 per oz)
Or this.
https://www.jmbullion.com/1-oz-sunshine-silver-round/
$9,020.00 for 500 1 oz Sunshine silver rounds, version V2 with anti-counterfeit technology. ($18.04 per oz)
It’s my understanding that there is no sales tax on these transactions. And I don't believe the government is informed in anyway, unless the transaction is $10,000.00 or more ?
This would make option 3 even more attractive in my opinion.
Look forward to any & all, suggestions/tips, opinions, etc
I just want to have a small percentage of my total assets in this metal. I'd like to amass at least 500 ounces.
*No political comments please*
I decided to go with 90.00% silver 50 cent pieces. I started buying ‘lots’ on eBay in early March. I'm up to 292 coins consisting of around 70.00% 1964 Kennedy’s, 20.00% Franklins & 10.00% Walking Liberties. As far as the condition of the coins, the Franklin & the WL’s I'm buying are in circulated condition, & the Kennedy’s are mostly circulated as well, although there's probably about 20 that would be very close to brilliant uncirculated, & another 40 near mint.
At this point, my ‘total’ cost for the 292 coins is $2,122.84 or $7.27 apiece.
90.00% 50 cent pieces have 0.362 Troy oz. silver.
0.362 x 3 = 1.086 Troy oz. Translation: 3 halves = just over 1 ounce silver.
To get a total of 500 oz, I’d have to buy 1,382.00 of them.
1,382.00 x 0.362 = 500.284 oz
If my cost basis per coin stayed at $7.27, I’d spend $10,047.14 for the 500 ounces. ($20.09 per oz)
1,382.00 x 7.27 = $10,047.14
I'm beginning to wonder if it wouldn't be a lot easier to go this route ?
https://www.usmoneyreserve.com/shop/bullion/silver-american-eagle-500-coin-monster-box/
$10,111.46 for 500 1-ounce 99.9% pure silver American Eagle Coins. ($20.22 per oz)
Or this.
https://www.jmbullion.com/1-oz-sunshine-silver-round/
$9,020.00 for 500 1 oz Sunshine silver rounds, version V2 with anti-counterfeit technology. ($18.04 per oz)
It’s my understanding that there is no sales tax on these transactions. And I don't believe the government is informed in anyway, unless the transaction is $10,000.00 or more ?
This would make option 3 even more attractive in my opinion.
Look forward to any & all, suggestions/tips, opinions, etc