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 Replies: 21 / Views: 3,571 |
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Valued Member
United States
463 Posts |
Its a waste of money thats why I dumped all my ASE except the one that filled my album. This has been talked about by many and I totally agree with it so I dumped all of them and bought pre 1965 silver, isn't the main goal to get as much as possible with your money. For example say you want 1000 troy oz of silver and we will use todays spot which is closed at 34.35 ASE $2 over spot 1000 x $36.35 = $36,350 (spot for total $34,350) now lets use the same money used to invest in the 1000 ASE ($36,350) 1368 Peace dollars = 1058.0803 troy ounces of silver = $36,345.06 wouldn't you want about 60 oz more in silver for the same price? and another thing to consider is if silver falls you now loose more due to the higher make up |
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Pillar of the Community
United States
2424 Posts |
Bingo bryan!
gotta love that 90%
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Valued Member
United States
198 Posts |
The problem is if you are a coin shop like I work in. You have competition. A person brings in a 100 oz bar.At 36 an oz we paid 3400 for each 5 bars last week. Now silver has dropped to what we paid for it.We have to sit on it till it gets to 36 again.
Had our Eagles at 42 lately. Did not sell many. Dropped to 40 today sold 900.
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Valued Member
Cyprus
349 Posts |
sounds like lots of competition in the USA for silver. Wish it was the same in Australia.......
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Bedrock of the Community
Australia
21788 Posts |
I don't like paying anything over the spot price. All of my scrap silver coins have been acquired almost accidentally as part of a lot or parcel of coins, some of which would have been scrap silver. I only have about 6 ounces of scrap silver, which is not really enough in my opinion to be bothered with selling.
If I sold them to a dealer, he would probably offer me way below the ASW spot price for such a mixed lot of world coins in poorer grades.
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Rest in Peace
United States
9104 Posts |
If you don't like what dealers charge for stuff, run an ad in the paper buying silver, and get it for 20% under melt. Then sell the 99% of what you buy that you didn't want.
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Pillar of the Community
Canada
3692 Posts |
Hey Bryan, I realize that the following is a moot point because you're talking about price, but if I had the choice I'd take the pure because it would take up less room. If we're talking about a lot like you are then I think storage might be an issue. You have to look after those Peace dollars, making sure they don't numismatically become worth less than before (unless they are "junk"). And packaging each individual coin that way takes up even more room than the 10% copper, whereas the pure is all in tubes or physical stacks. A question, if you wanted to dump your load at a critical point, which would be easier to sell all at once? |
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Rest in Peace
United States
9104 Posts |
Quote:
demand is causing stores to overcharge hence your seeing prices like $5+ over spot
What you suggest is impossible. If dealers ask too much, the customers just won't buy. The premiums are there because that's the price buyers are willing to pay, and therefore is the market price, not an overcharge. |
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Valued Member
United States
425 Posts |
Quote: "A question, if you wanted to dump your load at a critical point, which would be easier to sell all at once?" And this is the real issue! I went in my local shop to trade some Silver for Gold. He did not want to give me anything for the 90% or a few 10 oz. bars, but he was begging me for my ASE's! If you are holding 90% as an investment, you must understand that when you try and cash it in, someone has to have it melted and refined. An ASE is already there and can be bought and sold in hand! |
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Valued Member
United States
463 Posts |
"If you are holding 90% as an investment, you must understand that when you try and cash it in, someone has to have it melted and refined. An ASE is already there and can be bought and sold in hand!" I have to disagree, silver is silver and 90% is better then pure silver any day. It doesn't have to be melted down its still silver regardless, but if we go to 35% or 40% silver then your talking about a big chunk profit loss as less people want them as that truly takes up way more space then 90% or pure silver. I have traded/sold almost all my pure silver for 90% and it doesn't take up that much space plus there is a little history in them and not just common silver rounds. I dont know the exact number but I think it was 30 million ASE produced last year and I will take the 1 million mintage bear or wolf over these. Does it make more sense to spend $3-5 over melt vs buying most silver 90% for spot or less and at the current price of silver I think I would rather pay $3-6 over spot an oz for the ATB 5 ozers then the common ASE. I did the trade with you for the gold for those and I had no problem selling them for around spot in a few days, you just need an out let or a place you know you can sell them. I have 2 regular buyers from me that will buy any silver or gold from me when I have anything I'm willing to sell. Another thing to consider if silver falls you loose more money as you put more money into it paying over spot |
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Valued Member
United States
104 Posts |
OMG you're both right! thanks for a night of confusion! LOL. so I was going to buy a bunch of Peace dollars, but they are so expensive right now, I thought, why not buy the eagle, and some walking halfs too. what do you think of that idea? |
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Pillar of the Community
United States
4008 Posts |
Quote:
If dealers ask too much, the customers just won't buy. I agree with that, BiggFredd, when one is talking about experienced buyers. Today's market, however, has quite a few new buyers coming in that do not yet know the difference. Many of them have stars in their eyes from the recent silver price run-up and are willing to pay $5-8 over spot, particularly for the ASEs. They WILL learn, though.  |
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Pillar of the Community
United States
4989 Posts |
Last time I checked our local dealer pays spot for eagles and sells for spot plus 2. Anything else is a ripoff given how fast these coins sell. Don't let a dealer steal your money and never buy on ebay since you will be crushed by sellers passing through auction fees. |
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Valued Member
Canada
442 Posts |
I also suppose dealers have a bigger overhead compared to ebayers that just sell from their home. I'm lucky the one we have in my city has been around for a while and is also quite fair with his pricing.
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New Member
United States
33 Posts |
Probably should have a mix of .999 and .90, but I'm partial to the 90% myself.
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Replies: 21 / Views: 3,571 |
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Posted 03/16/2011 12:19 am
