I collect stuff. As you can tell by this blog I collect guitars. But I’ve been known to collect diecast cars, albums, coins and a whole array of other stuff. About 4 years ago I noticed the price of silver going up and the American Silver Eagle coin I bought for $24 was now worth nearly $60! I thought “What a great idea. Collect coins and make some money!” So I started buying up ASEs. Both uncirculated and proofs.I watched as the price of silver went up and was delighted at my decision. But then the economy started to turn around. Here’s how it works. When the economy is bad people invest in precious metals like silver and gold. This drives up the price. If the economy is good people tend to not invest in precious metals and the price drops. I’d check the silver price daily and each day it would drop. Maybe a few cents…maybe over a dollar. I got rid of my silver and lost a couple of bucks. But it could’ve been worse. My girlfriend wants to sell some of her mom’s old silver coins, quarters and dimes and silver dollars. I told her I’d buy them. I still like coins. I told her I’d buy them for the melt value and I was shocked to see that silver is now $14.90 and ounce! Man am I glad I dumped my silver collection when I did!

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