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A Little Advice?

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Author Previous TopicReplies: 6 / Views: 1,331Next Topic  
New Member
Gab10's Avatar
United States
6 Posts
 Posted 11/30/2009  6:04 pm Show Profile   Bookmark this topic Add Gab10 to your friends list Get a Link to this Message Number of Subscribers
Hey everyone, if you read my last post you will know that I am new to coins. I am currently looking at some nice coins on ebay and, if giving advice on this forum is legal, I would like to know how much some experienced coin collectors would be willing to pay for it. It is a 2003 10 oz. .999 silver coin and it says that it is called "Patriots" On the coin is the picture of a minuteman and the other side has the old American Flag.
Thanks,
Steve
Bedrock of the Community
United States
10284 Posts
 Posted 11/30/2009  6:13 pm  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
Sounds like a bar of bullion and you can expect to pay maybe 10% above spot price of silver. Today Spot was $18.47 an oz. So Make it $184.70 for 10 oz. value and a premium of 10% would be another $18.47.
That would be $203.17.
If I were buying legitimate and respectable silver bars or rounds today. I would hope to get a 10 oz bar for around 200 bucks shipped.
You might find you have to pay up to 15% premium too.
.999 Siver is .999 silver, art bars can cost more but when you go to sell, a dealer will usually not pay you extra for fancy silver bullion.
You are not looking at a coin, you are looking most likely at a round 10 oz bar or round or silver.
Edited by TNG
11/30/2009 6:20 pm
New Member
Gab10's Avatar
United States
6 Posts
 Posted 11/30/2009  6:17 pm  Show Profile   Bookmark this reply Add Gab10 to your friends list Get a Link to this Reply
Thanks, that's right around where I was thinking, I just wasn't sure how much of a premium would be necessary for the coin.
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biokemist6's Avatar
United States
12437 Posts
 Posted 11/30/2009  6:23 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
Items like that are typically valued as bullion since it is privately produced and not monetized(hence, it is bullion and not a coin). Unfortunately, marketing companies that sell these things charge multiples of bullion value= instant money loss when purchased.
Bedrock of the Community
United States
10284 Posts
 Posted 11/30/2009  6:25 pm  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
I bet this is your listing.
[eBayItem]120465503864[/eBayItem]
Looks about right
Personally I would go with Englehard or other major bullion names.
I think you might want to look at APMEX dot com
Edited by TNG
11/30/2009 6:26 pm
New Member
Gab10's Avatar
United States
6 Posts
 Posted 11/30/2009  6:51 pm  Show Profile   Bookmark this reply Add Gab10 to your friends list Get a Link to this Reply
Yes that is it, I was actually looking for Englehard but then I found that one and it looked too good to not consider buying. But thanks for the advice
Edited by Gab10
11/30/2009 6:52 pm
Valued Member
markapsolon's Avatar
United States
207 Posts
 Posted 12/03/2009  12:21 am  Show Profile   Bookmark this reply Add markapsolon to your friends list Get a Link to this Reply
Just be careful on ebay. I have seen bullion bars go for well over what they should.
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