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Do You Collect Silver Dollars For The Bullion?

 
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Pillar of the Community
United States
1200 Posts
 Posted 09/25/2019  9:51 pm Show Profile   Bookmark this topic Add hfjacinto to your friends list Get a Link to this Message
I found a local coin shop that has Peace dollars (in pretty good shape mostly AU) for $3 over spot, I've been getting ASE for bullion, but at the cost the Peace dollars make sense. What are your thoughts on getting Peace dollars as a bullion coin?
Pillar of the Community
United States
4450 Posts
 Posted 09/25/2019  10:47 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
Current spot is about $18/oz.

Value of the silver in a Peace dollar is about $13.50.
$3 over that is greater than 20%.

Even $3 over spot is over 15%.

Either way I see that as too high.
Describe it as if there were no picture.
Picture it as if there were no description.
Bedrock of the Community
Australia
16457 Posts
 Posted 09/25/2019  11:25 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I collect any World silver coin including American,
provided I can buy it for below the ASW melt price.

That doesn't happen often. I have only accumulated about a kilo of silver coins, mainly as unwanted coins in lots of multiple coins at public auction.
The cheapest way of acquiring bullion silver at below melt.
Low grade American silver is represented by country as the largest proportion in this accumulation.

I have even acquired a small amount of 500+ year old unidentified Islamic silver coins in this way. As they are identified, the value shoots up by a factor of 10 or more, as they then become numismatic items.
Edited by sel_69l
09/26/2019 05:03 am
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