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Replies: 65 / Views: 11,223 |
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Pillar of the Community
United States
1158 Posts |
I have no guarantee that a random silver round is actually silver. I know nothing about it. For all I know it is silver plated nickel. An old half dollar, I have history and experience telling me it is 90% silver. If you really are a doomsday prepper, you want coins you can trade. People know US coins. They don't know what a coin with a bible verse or a crude reproduction of Morgan dollar is. Not to mention in a world where silver is currency, counterfeiters will be out in force. You couldn't trust a generic.
Edited by tkbslc 06/13/2015 4:11 pm
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Pillar of the Community
United States
6478 Posts |
Quote: I am not against the numis; just have seen too many rip-off in this market. Stay away from any storytelling sales pitch, that's how my dealer friend warned me. And certainly I have no energy to sell each of my coins through storytelling technique.
Why don't we stay with purity, that much you don't have to explain. Wow. Ok. Real numismatists buy the coin, not the, we are selling for a person trying to retire, and why would you lie to sell your coins? Please stop generalizing numismatist. And if you listened to our posts you would not have to ask that last part.   
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Pillar of the Community
Canada
3692 Posts |
100% agree. Premiums are what we tack on if we covet things. Otherwise the raw material is much more useful than something "used".
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Pillar of the Community
Canada
3692 Posts |
Quote: An ounce of silver is an ounce of silver regardless of form. It's not. Try to refine your 90% quarter for "melt value" and you'll see what I mean. It's the "same" if you're trading with someone, but if somebody needs silver (raw .999) and you give them .925 they will pass up on it if they know about alloys and refining. Most people don't know so they get weighed down by the copper content and other metals. True "stacking" is cramming a safe with .999 quadrilateral bars that don't waste space like round discs.
Edited by Libertad 06/13/2015 8:10 pm
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Pillar of the Community
United States
6478 Posts |
Quote: True "stacking" is cramming a safe with .999 quadrilateral bars that don't waste space like round discs. I disagree. Stacking is an art form. Lol. It is an art form where you acquire as much silver as you need/want while doing it in a manner that gets you the most bang for your buck, while having fun at the same time. Junk fills all of those needs.
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Pillar of the Community
United States
1192 Posts |
I'm a bit afraid of reselling bullion rounds due to widespread plating and fakes. I know the designs and specifications of 90% or even Canadian 80% well enough that it's a lot easier to spot a fake. It makes me trust them even more then American eagles.
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Pillar of the Community
United States
632 Posts |
Tell me if I'm naive but I never worry about buying fake silver because I only purchase from established and reputable dealers...
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Pillar of the Community
 United States
586 Posts |
99.9% or 99.99% fine silver from government mint is always better, as long as the premium is low.
About the plating and fakes, I thought well-recognized coins are more likely targets than generics. For examples, there have been fake gold coins found during 2011-2012; they were all recognized brands like Krugerrand, Kangaroos and AGEs, etc. I haven't heard about any story on faked generic bar, like OPM.
Edited by leon1998 06/14/2015 08:36 am
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Pillar of the Community
United States
7390 Posts |
Ummm... I have a VERY convincing fake 4 troy ounce credit suisse "fine gold" square bar "certified 999.9" with a serial# on it so DON'T think they aren't out there!
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Pillar of the Community
United States
5854 Posts |
Quote: I haven't heard about any story on faked generic bar, like OPM. If you search for them, there are several threads on the topic of fake bars. Here's one of them: https://goccf.com/t/141097It has been mentioned by several people. I think trust is more important to the majority of people than purity. It's easier to trust a product made by a government than by a private company or individual. 90% silver has been in production in the U.S for a far greater period of time than 999 silver has and the specifications/standards are familiar to most looking for bullion silver. I'm not much of a stacker but on the occasions that I do, I usually look at premiums over/under melt relative to what is typical for that product and other products. I will get the product I feel offers the best value.
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Pillar of the Community
United States
5854 Posts |
Quote: Don't know if that's the exact reason for trading coins at Xfacevalue but that's what he told me. It seems to me that for dealers using the times face method is quicker especially for small transactions that weighing them. For the seller is much easier to check the math with the times face method than to check whether or not the dealer's scale is giving an accurate weight. Bags of a $1000 face of 90% and 40% silver are typically assumed contain 715oz and 295oz of silver respectively.
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Pillar of the Community
 United States
586 Posts |
If silver becomes expensive and highly sought in the future, there would be no trust on any brands; since the counterfeiting could be rampant due to the potential profits.
I would think many different kinds of test technology/equipment will be developed; and purity might be an advantage.
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Pillar of the Community
United States
4085 Posts |
Quote:
Quote: An ounce of silver is an ounce of silver regardless of form.
It's not. Try to refine your 90% quarter for "melt value" and you'll see what I mean. It's the "same" if you're trading with someone, but if somebody needs silver (raw .999) and you give them .925 they will pass up on it if they know about alloys and refining. Most people don't know so they get weighed down by the copper content and other metals. True "stacking" is cramming a safe with .999 quadrilateral bars that don't waste space like round discs. Your original post didn't mention melt or refining. You mentioned silver as a store of value or for trading purposes. Of course if someone needs pure silver, they will prefer it in it's purest form. But that's probably not why most people hold it. I don't see some fundamental change coming where suddenly .999 silver carries a big premium when you want to sell.
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Pillar of the Community
United States
6478 Posts |
Quote: If silver becomes expensive and highly sought in the future, there would be no trust on any brands; since the counterfeiting could be rampant due to the potential profits.
Correct me if I am wrong, but then the people would sue the big companies for false advertising. BAM the company falls into dept. No major smart company would ever start creating fake silver bars when the people would go to them because they know that they have real silver bars. As soon as someone finds out it is all over with.
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Pillar of the Community
United States
6478 Posts |
Your original post is redundant because YOU stack 90% silver also. This quote is from the thread that asks what you like to stack, leon1998 said, Quote:1 oz. 999 Silver Buffalo (just for the material) Roosevelt dimes (in case you need bartering) ----------------------------------------------------------------- next three are going to have some numis values: Standing Liberty quarter with Date Barber quarter at least AG Any silver proof half dollar So you do stack 90% silver and you are just trying to rile people up.
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Replies: 65 / Views: 11,223 |