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 Replies: 49 / Views: 5,652 |
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Rest in Peace
United States
9104 Posts |
Quote:
That would be news to me and completely contrary to the definition of the word. Not at all. Quote:
Legal Tender: (Noun) Currency in specified denominations that a creditor must by law accept in redemption of a debt. Keywords bolded. |
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Valued Member
United States
410 Posts |
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Then again, if you think silver may drop below $5, are you buying it at $30? 1. Sometimes investments don't go as planned 2. Silver was @ $5 per oz from 1991 through 2003. It could happen again. 3. The Canadian dollar has been strengthening against the US dollar for more than a decade. I look at it this way. If I can buy an Eagle or Maple for the same price, why not purchase the one with the higher face value. Edited by JSH
01/19/2012 12:23 pm
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Rest in Peace
United States
9104 Posts |
Compare mintage figures for your answer.
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Valued Member
United States
410 Posts |
Quote:
Compare mintage figures for your answer. I'm not sure I follow you. Neither are rare, but there at least 4 times as many Silver Eagles as Canadian Maples. Given two coins at the same price why not purchase the rarer coin? |
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Rest in Peace
United States
9104 Posts |
Because the ASE apparently is four times as popular as the one with the doubie grass on it. |
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Valued Member
United States
410 Posts |
Quote:Because the ASE apparently is four times as popular as the one with the doubie grass on it. Which means a Silver Eagle is less likely to hold value because the market is flooded with the things. The US Mint has made more Silver Eagles in the past 2 years than the total production for Silver Maples. What happens when all those people that bought Silver Eagles in the past 2 years decide to dump them if financial Armageddon doesn't materialize? Is there really long term demand for 30 Million Silver Eagles per year? |
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Rest in Peace
United States
9104 Posts |
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Pillar of the Community
United States
3670 Posts |
JSH when my boss was quizzing me about the purest gold coin I said Buffalo of course, but mentioned Canada gold eagles as being 24k, and he was like yeah but we just don't get those here in the south, lol.... We have 40 silver eagles 2012 from the clearing house on the way. It does not matter how many they are, there real popular. He knows if they don't sell out of the case to the public, they will too me, lol.... The Saint Gauden gold coin is the purest of them all, over 24k.... Seems like 24k converts to .957 pure, and the fore mentioned are like .965 perhaps.... They all sell, heck those ugly Christmas bars with Santa toned out sell, anything that is silver sells close to spot on ebay, as silver is simply silver, right at spot value. I don't care if it is an ASE, a cougar, grizzly, panda, or maple leaf, any of the fore mentioned is a fine investment plan IMO.... Edited by Silverhawk74
01/20/2012 12:03 am
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Rest in Peace
United States
9104 Posts |
Quote:
Seems like 24k converts to .957 pure, and the fore mentioned are like .965 perhaps....  you talking about, grasshopper? |
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Pillar of the Community
United States
3670 Posts |
The St. Gaudens is .9675 and only 90%
And the Buffalo is 24k .9999
That part of the paperwork info is incorrect or more likely I am simply misremembering it lol like I did that 7, to quote another. I will have to check that out tom....
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Rest in Peace
United States
9104 Posts |
Quote:
The St. Gaudens is .9675 and only 90% Old twenties were 2000/2067* of an ounce of gold content, in the form of .900 gold. So, if you divide that out, you get 0.9675 oz of gold in a coin weighing 1.075 oz. Multiply that by 31.103g/oz and you get 33.439g, vs an official spec of 33.431g *gold was $20.67 at the time, so $20 worth was that fraction of an ounce. |
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Pillar of the Community
United States
2168 Posts |
It's nice to read about when money was money! It was so easy back then
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Valued Member
United States
410 Posts |
Quote:We have 40 silver eagles 2012 from the clearing house on the way. It does not matter how many they are, there real popular. He knows if they don't sell out of the case to the public, they will too me, lol.... They all sell, heck those ugly Christmas bars with Santa toned out sell, anything that is silver sells close to spot on ebay, as silver is simply silver, right at spot value. I don't care if it is an ASE, a cougar, grizzly, panda, or maple leaf, any of the fore mentioned is a fine investment plan IMO.... Yes everything sells for spot or above right now. Heck, even 35% War Nickels are selling for spot. Of course spot is twice what it was 5 years ago and silver is in very high demand. What happens if silver drops in price and the pendulum swings from buy to sell? Will everything still sell for spot or will some items command a premium and others sell at a discount compared to spot? I personally think it is prudent to look at the potential down side of an investment and take what steps I can to mitigate losses if that investment goes bad. How long has your store owner been in the gold and silver business? I'm curious what the prices relative to spot were back in 2005 when silver was $15 per oz and there wasn't a buying frenzy. |
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Pillar of the Community
United States
2168 Posts |
Well my local shop sells junk and most other silver for spot plus 3 percent. Last I saw the Eagles were spOt plus $1.50. In Nov 2010 it was spot plus 5 percent and eagles were plus $1. Can't help with 5 years ago since that was when I first bought. In business over 20 yrs. FYI gold was spot plus $100 last time I asked. Have never purchased so I don't keep up on that.
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Pillar of the Community
United States
2168 Posts |
Forgot so say they use .715 for silver calculation on junk
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Replies: 49 / Views: 5,652 |
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Posted 01/19/2012 12:22 pm
