Gold Supporter
Silver Supporter
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Have to agree. If SHTF silver would be tradeable for simple things. A $1500 gold coin cant be easily divided. Bagged old silver. Dimes and quarters.Silver is a better buy.
1/10 ounce gold bars or coins are worthy investments in my opinion.
Silver is a better buy.
"Thinking of buying gold coins..."
You should see a psychiatrist about thoughts like those, especially if you think a reputable dealer is going to let you "test" your purchase to make sure you're "not getting ripped off."
So you're saying its not illegal to melt down currency?
I'd leave my money in the bank and when the market crashes again (and it will eventually) Buy more real estate. Diversify and go into commercial property or buy your self a cabin on a lake.
I didn't say this was all my money though. This is just a small portion of it. I have enough to buy 6 more houses here, I just want to diversify a little bit...I am also looking at a vacation house in Las Vegas and Florida since I go to both frequently. I usually take 2-3 trips a year either to those or Hawaii, London, etc.
But yes I am buying more real estate, although after issues with 3 of my tenants in the last couple months, I'm really starting to hate being a landlord lol. Entitled liberals are a PITA to have as tenants. Gotta love people who can't afford to even rent a house unless they do it with 4 people total, yet want to tell me how to be a landlord when I can carry all my mortgages by myself and own multiple rentals with huge down payments....
I look at gold as a long term investment, 20k in cash you stashed away in the 80's is worth less now, gold obviously much more, a 20k down payment on Realestate in the 80s and you now own the home and its appreciated way more than the gold. Are you trying to invest diversify or just buy a couple thoseand in yellow stuff you can admire?
I don't have a coin purse so..
Maybe if you are buying 5K
Man, I'm learning a lot from this thread.Practical question. Once you've melted it down and poured it into a different shape/size/whatever -- who's gonna know?
1. Is it illegal to damage or deface coins?
Section 331 of Title 18 of the United States code provides criminal penalties for anyone who fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the Mints of the United States. This statute means that you may be violating the law if you change the appearance of the coin and fraudulently represent it to be other than the altered coin that it is. As a matter of policy, the Mint does not promote coloring, plating or altering U.S. coinage: however, there are no sanctions against such activity absent fraudulent intent.
I was curious, so I looked it up.I like buying silver. Especially bars and rounds that have cool historical lineages that are not price influencers. For example.....this 10 oz bar minted in 1981.
View attachment 660133
Man, I'm learning a lot from this thread.
Your comment made me go and search out the actual law that says its illegal.
Here's what I found out....
I couldn't find anywhere where it said that this is illegal (despite quotes I've seen in the past! ).
I did, however, find this...
The keyword here would be "fraudulent".
When you take a 25 cent piece and try to pass it off as a Sacajawea Dollar, that's fraud.
When you take a Buffalo Nickel, and scratch out one of its legs and try to sell it as a rare collectible, that's also fraud.
When you melt a pre-1982 cent, and sell it for its copper value, that is, apparently, genuine and legal.
So, that's what I'll got with, until another thread, and the rest of the internet, says otherwise.
Dean
...and 14 years ago when that article was written, that was true, but I found a more up-to-date article (only has a 2020 copywrite at the bottom) that is a little more comprehensive than the one I quoted earlier, but it still pretty much backs up what I wrote in post # 37.
Check it out.... Is It Illegal to Melt/Destroy US Pennies and Other Coins? | Make it From Metal
Dean