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Valued Member
175 Posts |
HI, I'm new to coin collecting and precious metals and bullion. I was wondering what the value of a 1oz silver engelhard is. Want to check before I buy one.
Thank you, glad I found this website. I know I probably sound like a total noob but I am lol. Edited by Ron2012Paul
05/30/2011 08:21 am
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Pillar of the Community
United States
2661 Posts |
I really do not know why people pay a nice premium over spot for these things, they are just silver and in my opinion are worth only spot price. It is my understanding that prices range anywhere from 10% - 25% over spot for Engelhard's depending on where you buy them.
Edited by Tim Stroud
05/30/2011 09:36 am
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Valued Member
 175 Posts |
How much is the spot price?
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Pillar of the Community
United States
648 Posts |
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Valued Member
United States
487 Posts |
I'm with Tim. I refuse to pay a two digit premium for silver in any form. If I can buy a generic round/bar at a savings, I will. Be careful with your PM money, buy wisely.
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Pillar of the Community
United States
830 Posts |
I'd rather have an ASE, but I'd bet the 1oz engelhard is worth about the same.  |
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Valued Member
175 Posts |
Im a total coin noob so what is PM? tell me if I'm way off here the spot price for 1 oz of silver is almost 38 dollars so I shouldnt spend more than 38 dollars on an ASE or 1 oz engelhard? |
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Valued Member
United States
487 Posts |
Ron2012Paul, Pm is short for precious metals. Everybody here collects metals in their own way. Some find it not a problem paying higher premiums. Some don't. That is fine. No ones right, no ones wrong. You have to find whats comfortable for you, and your household budget. Just saying. Oh, by the way. Welcome to CCF!  Edited by rastatodd
05/30/2011 10:56 am
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Valued Member
175 Posts |
Thanks, this is a great web page.
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Pillar of the Community
United States
672 Posts |
As everyone has their opinions on PMs and saving as a hedge, I prefer junk silver (90% old US coinage) as my primary means (40% and 35% US silver regularly trade below spot). It has a lower premium over spot than 0.999 silver and is a little more interesting to look at, as well as being a part of our history of a gold standard. |
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Valued Member
United States
271 Posts |
It is funny how much engel sell for!!
silver is silver!!
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Pillar of the Community
United States
3670 Posts |
I think what the frugal minded forget is.... Engelhard's cost more but they always bring more, so those factors cancel each other out in my mind.... I have spent some big premiums on higher priced silver and gold, as that is what I like to collect, so like RastaT said, to each their own.... I bought a silver Britannia a couple weeks back, which is a 2010 graded MS 69, and it is only 1 of 26 on the books so far at MS 69, and 7 at MS 70. Granted, more will be added I am sure, as it is only mid way through 2011(who knows if you graded all 500,000 of them, you might have 100,000 MS 69 I know, lol), but in time less and less will be graded, and as far as I am concerned that piece will always command at least double beyond spot for its rare nice quality, as only 500,000 from 2010 were minted. Even if 250 get graded MS 69, it is still a rare hard to find piece, so I am happy to have it.... I figured that paragraph above, would help you take into account many different prices and listings for the exact same piece of silver and the grading system, as MS 70 is the highest grade I do believe. I could have payed 54 bucks for the coin above NOT graded, but I forked out a bit more for the nice rare graded coin. You will notice many other members here spitting off letter and number combinations for other graded coins that I have not wrapped my head around yet, lol. So much to learn for all of us, have fun and good luck! Edited by Silverhawk74
05/30/2011 12:08 pm
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Pillar of the Community
United States
931 Posts |
To me it's a safe ounce of pure silver. I don't collect bars, but if I did I wouldn't payomits than 2 or 3 dollars over spot no matter who refined and manufactured it. I do have one bar from when I was a kid because it has a beautiful portrayal of Secretariat on it. Somehow I managed to hold on to it through some pretty hard times, so I like it a lot. I can understand buying fancy bars of silver because I am a fool for American Silver Eagles and I also payed way too much for a few Chinese Silver Pandas and a Chinese Silver Unicorn. To each his own and welcome to this great forum.
Edited by junior e
05/30/2011 12:24 pm
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Pillar of the Community
United States
3670 Posts |
Of course you can get the Engelhard in silver rounds as well, via the 1 oz. prospector, very popular version....
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Bedrock of the Community
United States
14454 Posts |
I think the reason they cost more is some of them are collected just as you would collect varieties of any other minted item. They usually do sell for more than spot but as was said above they usually bring more when time to sell also so someone that refuses to pay more than spot may lose 10% when it comes time to sell, and the higher spot goes the more that 10% will add up. Of course this is if you sell in the right venue, if you sell to a scrap metal place you are going to get spot or under, but if you sell where the collectors can see it chances are you are going to get spot plus that 10% for the item
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Pillar of the Community
United States
648 Posts |
Just some advice - as many have mentioned there are several ways to buy 1 oz of silver. From a generic 1 oz, to a premium name such as Engelhard or Johnson Matthey etc. At the end of the day, they all have 1 oz of .999 silver. When it does come time to resell, the Engelhards and JM's can fetch you a higher sell price (as can an ASE). All of the items below are at an average of $38 dollars per oz, no tax, no shipping that I've collected from coin shows & dealers. These items are very common and popular among bullion and numismatic collectors. Good luck & welcome to the forums.  Edited by tripncoins
05/30/2011 3:21 pm
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Replies: 24 / Views: 4,457 |
Posted 05/30/2011 09:43 am
