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- - Give the UberNoob a grade.... (http://goldismoney.info/forums/showthread.php?t=207502)

UberNoob | 12-03-2007 08:34 AM
Give the UberNoob a grade.... Been lurking here for a while...I have a decent grip on the individual personalities....so I'd like you to give me a grade on my initial silver purchasing activity for this past weekend. Yep...I'm as wet behind the ears in this game as you can be. First...I'll say that I'm looking to get my wealth away from the US$....I don't have a lot of money....but I hope to be socking away about $300/month in PMs for the foreseeable future. So...I entered this weekend and decided to go the eBay route to get my toes wet. I'm not afraid of getting screwed over...PayPal will go after those who do not deliver for me....no biggie. I will say that a typo cost me a few more dollars on one of the auctions. And the excitement of it all made me add a buck or two to insure a win on a couple auctions....(But this Morgan dollar was soooooo pretty!!!!....I'm sure you understand) Anyway...here are the metrics...... I paid: $525.51 (including s/h) I will receive: $44.20 face value in 90% silver coins I will receive: 34.00834 oz. silver Now...I have seen folks harp on this 10x face value thing....and then we have the spot (which was 13.98 this weekend)...so let's see how I did. --I purchased the 90% silver coins at 11.89 times face value. --I purchased the silver for $15.43/oz. Help the UberNoob by grading his absolutely first time in the deep end of the pool. I think it's somewhere around a B or B-. I hope there is a big learning curve...I saw my later purchases were significantly better than the earlier ones...I do not think I went too far above the spot and 10x measuring sticks...but I have no frame of reference....I have YOU helpful folks....I do think that silver will be worth more than $15.43/oz. in a couple years.....though I do not know how bullish I should be. I do not have $10k to throw at a bag of coins...Do you think that this is the best way to slowly and surely gather silver?...What would you do with limited means? Thank you so much for your attention and advice! --UberNoob

RiverRat | 12-03-2007 09:24 AM
Re: Give the UberNoob a grade.... :rolleyes_m: Hello,and welcome to GIM. Not bad at all... No one can hit every PM price dip except Silver Sammy. :bear_w00t::bear_w00t::bear_w00t: The spreads on 90% silver go up and down...depending on demand and availability. Stock up...especially small denominations like dimes. Congratulations...I'd say a big A is in order. But,you probably should have took the BLUE PILL... :yes::yes::yes: Opps...to late now. :D:D:D

twenty4karat | 12-03-2007 02:23 PM
Re: Give the UberNoob a grade.... How much of the $44.20 face is Morgan (or Peace) Dollars and how much is .10, .25, .50? The reason I ask this is that there is more silver in Morgans or Peace Dollars .7735. A $1.00 face of any other combination (except silver war nickels) is .7234. 1942-1945 Silver War Nickels (20) = 1.126 These numbers may change your percentages. Oh yes, WELCOME ABOARD! (now hang on). Maranatha, :smile:

UberNoob | 12-03-2007 02:37 PM
Re: Give the UberNoob a grade.... Quote:
Originally Posted by twenty4karat (Post 857391) How much of the $44.20 face is Morgan (or Peace) Dollars and how much is .10, .25, .50? The reason I ask this is that there is more silver in Morgans or Peace Dollars .7735. A $1.00 face of any other combination (except silver war nickels) is .7234. 1942-1945 Silver War Nickels (20) = 1.126 These numbers may change your percentages. Oh yes, WELCOME ABOARD! (now hang on). Maranatha, :smile:
Ahhh...I see what you mean.... Well..I used the Melt Calculator to figure out the exact amount of silver....(so I know how much I paid per oz.).....but I assume there is something else I'm missing there.....(I guess that would effect the 10x Face calculation then?) Anyway....here's the breakdown: 3 Dollars 30 Half Dollars 56 Quarters 137 Dimes 6 40% Half Dollars

UberNoob | 12-03-2007 02:39 PM
Re: Give the UberNoob a grade.... Quote:
Originally Posted by skyvike (Post 857404) You did fine. As RR said, Silver Sammy is the only one who hits all the dips.
Note to self....pay attention to this Silver Sammy character.... Quote:
Originally Posted by skyvike In a year, you won't care whether you got the price you did, 10% less, or 10% more.
This is pretty much my feeling.....With eBay....I can enjoy the thrill of the chase...and I can build up my stash slowly since I only have a limited amount to save/invest....

goldminer | 12-08-2007 10:50 PM
Re: Give the UberNoob a grade.... Welcome & smart job. You're way ahead of Joe six-pack. This is a game in which learning hopfully never ends. Frame your perspective as trading FRN's for metals OVER THE LONG TERM. Sometimes you'll pay a bit more, sometimes you'll hit it good and pay some less...let this all be ok. Cost-average your trades over the long haul. Most of us here believe (as posted above) that it won't matter in 1 -5 -10 - 20 years whether we traded 14 FRNs or 15 FRNs or 20 FRNs today. Many folks here also believe that it's not what you pay that's important. What's important is that you have the metals in hand. You might want to consider in-person trades - no name and no electronic or paper trail. FRNs - and carry out the door.

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