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 Replies: 59 / Views: 13,862 |
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Pillar of the Community
United States
1795 Posts |
I bought junk silver off an elderly gentlement for melt just last week cause I wanted him to have a fair price. Just added it to my collection. I feel good about doing it that way.
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Pillar of the Community
Canada
2019 Posts |
Quote:
Stocking up on gold and silver bars, rounds, and coins is what we stackers do, but we also need something fractional for trade units. That's the role of 90% as I see it. The premiums on 90% are far more attractive than the premiums on fractional bullion. I could be wrong. Hmmmm never thought about "Junk" silver that way, I have always bought new .999 silver fractional and well 1oz, 5oz etc ,but maybe I should be stocking up on 90% as well. |
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Pillar of the Community
United States
711 Posts |
It is a fun task to build a North American Silver type set. US, Canada, Mexico. Most of it can be had from 'junk' silver bargain bins.
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Valued Member
United States
105 Posts |
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Hmmmm never thought about "Junk" silver that way, I have always bought new .999 silver fractional and well 1oz, 5oz etc ,but maybe I should be stocking up on 90% as well. Keep thinking. Junk silver is dead money. If you are going to pay premium retail prices, at least get some value-added benefit. Consider buying 5 pc silver quarter proof sets. They are available on ebay below the melt value of junk. Don't rush off until you understand something. Whenever you pay less than the Red Book price, you have given yourself an instant discount. This discount is not reflected in the price you paid. It must be applied to your final cost before its true value can be realized. The Red Book price for a silver proof quarter is $8. You can pick up a 5 pc. set for $25. That is $15 less than retail. Apply that discount to the price (25-15=10) and congratulate yourself on buying 90% proof below the melt value (15.50) of 5 junk silver quarters. |
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Pillar of the Community
United States
589 Posts |
@ Buffalow, that sounds good but where can you buy 5 proof silver quarters for $25.00 because I want in on that action. I haven't seen that on the bayor at my LCS.
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Pillar of the Community
Canada
2019 Posts |
Quote:The Red Book price for a silver proof quarter is $8. You can pick up a 5 pc. set for $25. That is $15 less than retail. Apply that discount to the price (25-15=10) and congratulate yourself on buying 90% proof below the melt value (15.50) of 5 junk silver quarters. I think you just broke my brain...lol |
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Valued Member
United States
324 Posts |
The Mexican silver is also worth a look. I have always it found it of the highest quality.
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Pillar of the Community
United States
898 Posts |
Meixcan silver has a unique design compared to US/Canada and is very appealing.
Just bought a roll of roosevelts today for 13x, so not too bad.
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Valued Member
United States
105 Posts |
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@ Buffalow, that sounds good but where can you buy 5 proof silver quarters for $25.00 because I want in on that action. I haven't seen that on the bayor at my LCS. On ebay. There was a buy-it-now silver State Quarter proof set for 23.95  when I wrote that. Keep in mind this isn't about making money. At this minute the lowest price for a 5 pc silver quarter proof set is 28.00. That's good. Apply the abstract discount theory to that: Red Book price minus cost ($40 minus $28) is $12 discount. You pay $28. Subtract the $12 discount from that. In theory, your cost is $16. Which is $0.50 above melt. I hope that demonstrates the point about value-added. Is it real savings? No. It's theory. What good is it? It's useful in establishing a price point which makes proof silver more attractive for prepping/stacking than junk silver. At the end of the day you won't be left with a stack of dead money fit only for the recycling barrel. P.S. I just bought one for $24.95 and left two for you. Item: 131379035663Edited by Buffalow
12/15/2014 09:04 am
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Pillar of the Community
United States
4333 Posts |
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What good is it? It's useful in establishing a price point which makes proof silver more attractive for prepping/stacking than junk silver. At the end of the day you won't be left with a stack of dead money fit only for the recycling barrel. I see where you're coming from Buff. But for the stackers/preppers, it's 1964 and earlier. Why? Joe Smith down the road knows that 1964 is the cut-off date. Try convincing Joe that your proof State Quarter dated 2014 is silver. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
105 Posts |
Quote:I see where you're coming from Buff. But for the stackers/preppers, it's 1964 and earlier. Why? Joe Smith down the road knows that 1964 is the cut-off date. Try convincing Joe that your proof State Quarter dated 2014 is silver. I agree that preppers/stackers know that, but Joe and Jose may need convincing that those old quarters are worth more than twenty-five cents a piece if clad is all they have ever known. The 5 pc. silver State Quarter proof set speaks for itself. It is in original government packaging as shipped from the San Francisco Mint with a Certificate of Authenticity. Edited by Buffalow
12/15/2014 12:45 pm
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Pillar of the Community
United States
2824 Posts |
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Valued Member
United States
274 Posts |
Buff, I don't get the math. $40 - $28 = $12 discount. Ok, makes sense. Now, $28 - $12 = $16 cost. That doesn't make sense. It sounds like you are double counting your discount. If you sell at $20, did you just take an $8 loss or did you gain $4?
Do you remember the Jeff Foxworthy "you might be a redneck" jokes? If you can sell something for less than you bought it, and can still find a way call it a profit... you might work for the government.
In the end, doesn't it really come down to how many $/oz, no matter when it was minted or how you calculate your discount?
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Pillar of the Community
United States
589 Posts |
@ Buffalow, Just bought one of those silver quarter sets for $ 23.00.
Thanks for the heads up.
John
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Pillar of the Community
United States
1005 Posts |
I'm also lost here. If you pay $28 for $15.50 worth of silver, you're paying substantially more than melt. Your cost is $28, in theory and in practice.
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Replies: 59 / Views: 13,862 |
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Posted 12/13/2014 12:17 pm
