It has been an interesting week. Not necessarily in a good way as we suffered the cryptogeddon of all crytpo assets with Bitcoin plunging down to $60,000. It wasn't the best of days that much is certain. Today BTC has shown some resilience with a bounce back to $70,000 today. But I sure do miss $125,000!
Another asset of mine that has been up and down is silver, right now it's making a nice recovery as well, thank goodness. Today I decided to share a coin I picked up many long years ago. I bought it mainly for the toning pattern it had, which is the discoloration you see on the surface. It's usually caused by oxygen reacting with sulfur, but it leave some beautiful patterns. I kind of like how the toning brings out the lettering on the reverse on the bullion, have a look:
About the coin:
From numista.com
This was minted at the West Point Mint in New York state. Right now they are trending around $93 in this condition, so there is a nice premium over the silver value alone. This was by far not one of my better pictures I've ever taken of a coin, I think it was one of my earlier attempts. I was trying to pick up the toning clearly, it worked much better on the reverse than the obverse (front) of the coin. Toning can be really beautiful on some coins, and this one is pretty nice. Interestingly, there are collectors that only buy coins/bullion that are toned. It's just there thing!
At any rate, this is one Troy ounce of pure silver. In the end, that's the most important thing about it. Silver is real money you can hold in your hand and will always have value. Lately silver has been on a rollercoaster ride pricewise, crashing down to $70 yesterday along with the rest of the markets. Today it has made a nice recovery up to $78.
Kitco.com, silver prices over the last five days
It's a great time to buy silver, chances are prices will increase once again as the shortage persists. I do miss the days of being able to buy silver for around $20 or less, but I'm glad I did buy back then because it is worth a lot more now! If you haven't started your own silver/gold stack it's never a bad time to start, and it protects your wealth against inflation. And it can be very pretty too!
I hope you enjoyed seeing the American Silver Eagle today, toning can be a lot of fun in some coins. Some people may find it unappealing visually, but I like it in some cases. Please feel free to leave any comments or questions below, and as always thank you for all of your support. It's greatly appreciated. Have a great weekend everyone!
References:
https://en.wikipedia.org/wiki/American_Silver_Eagle
https://www.kitco.com/charts/silver
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
All pictures are mine unless otherwise indicated.
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