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Strategies & Market Trends : Strictly: Drilling II
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To: jrhana who wrote (26388)1/23/2003 11:30:27 AM
From: Roebear  Read Replies (1) of 36161
 
Back in December I recommended buying some 2002 Silver Eagles as they were selling around 6.00 at the time due to an oversupply at the mint. Checked some prices and they are around 6.80 now, so that was a good tip and a cheap way to buy silver coin (Uncirculated):

Message 18368848

I just had to take advantage of the mint's overproduction of 2002 Silver Eagles and the reduction in premium afforded which increases their viability as a bullion holding. The Mint had given notice to coin dealers that to obtain 2003 Eagles they had to buy two 2002 Eagles for every three 2003 Eagles (silver). SO dealers dropped prices on 2002 Eagles to move them out, saw prices as low as 5.80 (100 coin purchase) on 2002's. Either those were teasers or I missed the bottom, but did get some low 6's. 2003's going for (last time I looked) 7.20-7.45, 2001's around 7.05 (quantities of 100), making the 2002's very attractive from a silver bullion aspect.

I would also note that at the time of my purchase last week prices were rising on 2002 Silver Eagles....

IMHO, anyone with profits from the gold and silver bull so far should buy at least a coin or two of gold and a 100 or more of the silver coins to serve as support for the market and as a souvenir of the successful hunt. Trophies to hang on the wall so to speak.

In a world of electronic fiat, it's nice to have some good doorstops against the future.

Best,
Roebear
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