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 Replies: 8 / Views: 1,440 |
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Pillar of the Community
United States
898 Posts |
So silver has been going down recently, not plummeting by any means but it spiked above 19.50 today then back under to 19.37.
Obviously most coins are worth much more than their worth in silver but do silver coins ever track the spot price? Especially with a silver maple leaf/silver eagle?
I'm not expecting Morgans to go down or anything, more just curiosity than speculation. What if silver hit 10.00 by year end, just for fun (unless you're hoarding silver).
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Bedrock of the Community
13014 Posts |
Coins worth melt track the price of silver. Bullion maples and ases for example are priced directly off spot.
Junk silver does as well. If silver got down to 2 or 3 for spot they may have some numismatic value return, but right now spots higher than their numismatic value so spots all that matters for them at the moment.
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Pillar of the Community
United States
1234 Posts |
Quote:
What if silver hit 10.00 by year end, just for fun (unless you're hoarding silver). Bring it ON  !... Buy LOW!  $22 per Morgan and I just got 2 more today. |
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Pillar of the Community
 United States
898 Posts |
$22 per Morgan is real good right? And paying 15x face is a good deal, or no? I feel like that's what most people try to get, between 14-16x for junk silver or silver dimes/quarters.
I feel like I haven't seen a Morgan of any type below 25. Who knows with silver going down. Crazy to read that silver once was $0.34 an ounce in the 1940's. Crazy to imagine.
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Bedrock of the Community
United States
20753 Posts |
NORMALLY, the prices of Gold and/or Silver has little effect on coin prices. Of course this is basically only true with coin collectors. For the average person that has little to do with the hobby, a Silver coin is just Silver so the Silver prices are the only important thing. Most collectors that go to coin shows, coin stores, hobby stores worry about the coin prices. People that only want the metal normally would just as well melt a thosand dollar coin for it's Silver price.
To answer your question as simply as possible, it purely depends on the people. People are people and some would just as well use the Mona Lisa painting for the canvas and could care less about the painting. People throw out many millions of dollars worth of items every day and could care less what they are worth. Ever watch the Antique Road Show on TV. So many people find stuff worth a fortune in the garbage.
I've seen people take all kinds of Silver items to jewlers for the Sillver price without any cares of what it is. A silver coin is just Silver.
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Pillar of the Community
United States
1234 Posts |
Quote:
Mona Lisa painting for the canvas It's actually painted on wood, so you could use it for kindling to start a forge to melt down CC Morgan's  One of my other collections is Computers, when I hear about someone wanting to strip an Amiga or a BOAT Anchor of an early Atari Home Computer (yes they made one of the first Graphical User Interfaces, the same time the Macintosh 128k came out) it just makes me cringe. To a computer collector a Mac 128K in working order with software package is worth tons but it' only a few grams of gold/silver/etc.  That is what a $22 Morgan looks like (better quality pics would just just make you cry: Hammer + Kid is my guess)... $20 for one dollar face on halves, quarters, and dimes at my LCS, from the cull bins. Same price as it was last month when silver was a buck higher per ounce. |
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Moderator
 Australia
16834 Posts |
The "tracking" is only clearly visible when the silver price is going up. It's been my observation that people who have silver coins to sell are very quick to raise their prices when the silver price goes up, but are very slow to lower their prices again once the silver price goes down.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Canada
1005 Posts |
I agree with sap
Price goes up fast, down really slowly.
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Valued Member
United States
337 Posts |
The best I ever did was get a coin just over spot when spot was $20 an ounce, and the coin had a face value of $20 Canadian, and it was a numismatic Calgary Olympics coin minted in the 80s. At the time the Canadian dollar was just over the U. S. dollar. Found several such coins at a show on closing day, and had I looked at the denomination and known the conversion rate I might have bought more than the few I did buy. Triple support is an easy way to risk buying precious metals. I backed off of buying more because I did not know he silver content, and was not familiar with the coins. So, if spot falls, watch for these sweet deals.
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Replies: 8 / Views: 1,440 |
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Posted 02/03/2014 11:14 pm
