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 Replies: 19 / Views: 3,730 |
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New Member
United Kingdom
7 Posts |
On E Bay I can buy all manner of commemorative silver crown coins from the UK and Commonwealth countries, weighing 28.28 gms )0.84 troy ounces) at about a 60% premium to the spot silver price. So, around £28-30 each vs £20/oz spot. Why the high premium for what is basically an investment in silver?
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Pillar of the Community
United Kingdom
2889 Posts |
Well if the seller can buy them at spot price (that's if) then to sell them on ebay will probably cost around £1 to list plut the 10% ebay commission, another £3, plus paypal fees - say 50p. So the £20 coin would have to sell at £24.50 to break even. It wouldn't be worth anyones time to not make a few pounds profit - hey presto - £28 to £30. |
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New Member
 United Kingdom
7 Posts |
Please direct me to a place where I can buy them at spot. I never thought of that one! Doh.
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Pillar of the Community
United Kingdom
2889 Posts |
The only place I know that sells bullion is Chards, but if you want close to spot price I think you'll have to be buying £1000's of pounds worth - hence dealers exist :)
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Valued Member
United Kingdom
298 Posts |
Commemorative modern silver crowns are not intended as investment silver is your basic answer surely?
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New Member
United Kingdom
7 Posts |
I suppose you're right, but don't you think these modern commemorative silver coins are really an exercise in marketing a known public warmth for the Royal Family by mints keen to generate top line growth? I can't pay a 60% premium for that.
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New Member
United Kingdom
7 Posts |
...although the same premium needs o be paid for US Peace or Morgan or modern Eagle dollar coins.
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Valued Member
United Kingdom
298 Posts |
Agreed, they actually hold no interest for me and I would rather buy dirty old junk shillings for silver content than these. But they aren't marketed towards the silver stacker at all. If you're looking for the cheapest dealer for a limited purchase you need to find a small dealer in the EU and you wont pay any more vat than is required in their country if they do business below £70,000 between their country and the UK. For instance one I know has ASE & Philharmonics at £25.65 each + £2.50 shipping. |
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Valued Member
United Kingdom
298 Posts |
Quote:
...although the same premium needs o be paid for US Peace or Morgan or modern Eagle dollar coins. And British crowns too. |
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Pillar of the Community
United Kingdom
2889 Posts |
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New Member
United Kingdom
7 Posts |
Yes, it's shameful. You can pick them up for a few pounds only on E Bay.
On another subject, what's your take on pre-2011 5p and 10p coins to hoard for their cupro-nickel content?
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Pillar of the Community
United Kingdom
2889 Posts |
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Bedrock of the Community
Australia
21788 Posts |
I have about 60 World silver crowns. Almost all of them date between about 1800 and 1930.
Stopped collecting them when the silver price started to rise about 20 years ago.
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Valued Member
United Kingdom
298 Posts |
I think he probably means hoarding them for now waiting for them to be demonetised since its perfectly legal to melt down all the predecimal and larger 50, 20 & 10ps. I'm a bit impatient for all that malarkey though.
I buy quite a few lots of foreign coins from time to time and always put away the french francs & dutch guilders into a pot. They're pretty worthless numismatically but are pure 999 nickel - since nickel is approximately $18 a kilo it seems much more worthwhile than copper hoarding.
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New Member
United Kingdom
7 Posts |
Yes, Coinaholic, I did think of the hoarding possibilities in future years. I might collect the 5ps anyway in my change.
Interested to hear about your French and Dutch nickel coin hoarding!
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New Member
United Kingdom
33 Posts |
On the basis of the nickel content, a Franc or a Guilder is worth 10c.
If the Euro currency collapses, and countries return to their national currencies, then the Franc should be worth 20c and the Guilder 61c.
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Replies: 19 / Views: 3,730 |
Posted 01/31/2013 11:05 am
