Wow — in 2020, I created an account here and I think I sent out one email. Then I forgot this entirely.

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I’m going to start posting here regularly about coin collecting and technology.

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Today’s subject is selling some coins recently.

Lessons From Gold, Silver, and a Car Lease Buyout

When unexpected expenses forced me to rethink my forgotten assets

​Anthony (Tony/Pcunix) Lawrence 👀​

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Summary

The article describes the author's experience using collectible coins and bullion to supplement their retirement income. The author highlights that gold and silver prices tend to rise when stock markets fall, making them a viable alternative investment. The author also emphasizes the importance of doing thorough research and choosing a reputable dealer to avoid getting scammed.

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RETIREMENT

According to surveys, about 70%–80% of retirees rely on Social Security for at least half of their income, and only about 30% say Social Security alone is enough to fully meet their living expenses.

My wife and I fall in the “need more” bracket; typically needing anywhere from a few hundred to a thousand dollars or more every month. We are fortunate to have enough resources to meet those needs, usually from our RMD money (Required Minimum Withdrawals from IRAs, etc.).

However, this year I decided to buy out our car lease rather than lease again, and that sucked away all the remaining RMD cash. So what to do? We also have some non-RMD stock accounts, but that market is depressed.

I did not want to sell any stocks.

Another resource

While grumbling about that, I reminded myself that I have two other forms of retirement investments. One of them is collectible coins, a market that is also somewhat low at the moment. The other is bullion, gold, and silver.

That market is thriving. All I needed to do was find a reputable dealer to sell to. With prices at the levels they currently are, I wouldn’t have to sell very much to get enough extra cash to last us through the summer.

I have some prior experience

Years ago, before I started my consulting business, I spent a year working for a friend who was a coin dealer. He’s retired and living in Italy now, but I fully remember that the bullion and scrap jewelry part of the business was high volume, low profit margin. Most small dealers sold to people like my friend; he in turn sold directly to refiners, the people who melt this stuff down and purify it. I figured my knowledge of how this type of business works would help me avoid being scalped by a greedy dealer.

I needn’t have worried. When I checked what dealers and online buyers were paying, I found it was so close to refinery prices that I’d be getting a fair price wherever I went and, for the small amount I was selling, the difference between big online buyers and the little guys was not worth any fretting at all and not even worth using any extra gasoline!

I decided to go with the dealer physically closest. I could have done slightly better online, but then I’d have to wait for a check. At the local dealer, I had my check in fifteen minutes and immediately used my bank’s app to deposit it.

Something learned

I had never thought of my small hoard of coins and bullion as having anything to do with funding our retirement, but I realize now it makes sense: if stocks are falling, gold and silver might be rising. And who knows: with the penny being eliminated and the nickel already costing almost fifteen cents to produce, maybe collectible coins might perk up over the next few years if stock resources are still faltering!

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This article is also available at https://medium.com/tonys-junk-drawer/lessons-from-gold-silver-and-a-car-lease-buyout-82fbb5f532d8​

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Help me buy a coffee. Or a Vision Pro? If you enjoy my posts, please consider making a contribution, recurring or not. Thank you. https://ko-fi.com/pcunix​

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