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 Replies: 17 / Views: 3,605 |
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Pillar of the Community
United States
586 Posts |
Was going to buy silver bullion, well... instead got two coins, total $15  |
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Pillar of the Community
 Canada
2360 Posts |
Really nice, I have a few 80's commemorative dollars on their way.
Nice price at $7.50 per.
The 1980 Polar Bear came only in proof, mintage 389,564.
The 1984 comes in Brilliant Uncirculated and Proof versions.
More Proof coins were minted (571,079) than BU's (133,563).
Edited by SilverDon
11/25/2014 7:17 pm
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Pillar of the Community
 United States
586 Posts |
Thanks for the numis education, SilverDon.
I was demanding a price below spot since it was only 50% (harder to melt for refiners).
Oops.
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Pillar of the Community
Canada
2360 Posts |
Starting in 1992 Cdn commems were 92.5% and from 2003 to 2006 - 9999.
I think anyone holding any inventory at all is ready
to make a deal.
At 50% you should at least get the copper value if they are
destined for the furnace. I worked in mining and have seen a few pours.
My sense is you could get a better return selling them as numis on e-bay.
At $7.50 your cost of goods sold would be tiny.
Plus just think of what we're talking about here.
Raw silver refined into bars, sent to the mint refined further,
then double pressed with dies with a brilliant or cameo finish,
only to be melted into a bar for bullion value.
Value added products turned into raw materials, it's backwards.
Edited by SilverDon
11/25/2014 8:25 pm
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Pillar of the Community
Canada
2360 Posts |
.375 ounces per coin x 2 = .75 ounces silver
$16.64 USD per ounce x .75 = $12.48 in Silver
Another $1.00 or less in Copper.
Not worth it to melt.
Edited by SilverDon
11/25/2014 8:36 pm
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Pillar of the Community
United States
589 Posts |
While I'm all for the concept of making coins more valuable, keeping them locked away in collections for decades is a better way than destroying them. Plus, since they are coins, they carry a premium. If you want profit, ebay is the way to go. Might not get much of a premium, but you could walk away with maybe $5 profit (I don't really know, haven't looked them up on ebay, but I'd figure a $5 net profit is easy) |
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Pillar of the Community
United States
606 Posts |
Why would the LCS allow their inventories to get so low? Are they going out of business?
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Pillar of the Community
United States
586 Posts |
MontanaCMR, I am sure they have some inventory; but don't want to sell at a loss.
You know LCS usually doesn't have hedge.
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Pillar of the Community
United States
606 Posts |
That is an interesting concept given many think we are heading for even lower prices. Perhaps this shop feels we are near a bottom.
Part of the reason I have loved following the price of silver is because I have no idea where it is headed.
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Pillar of the Community
Canada
2360 Posts |
I really think they have been holding stale inventory for
far too long. These are 80's commems, (not really low mintages)
and new stuff comes out every year, so the shelves get rather full if you are stocking well.
Can't hold everything forever, so blow out
the old to purchase new, all about cash flow. They get it
at a discount and are just getting their cost back.
It is a good time to fill holes in a collection.
Edited by SilverDon
11/26/2014 4:06 pm
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Pillar of the Community
United States
606 Posts |
Given the big price drop into the $14 range, I still can't see LCS holding back inventory for higher prices that may not come for years.
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Pillar of the Community
Canada
2360 Posts |
Got the proof 1984 for $10.95, and the Proof
1985 for $11.50. Two BUs sent by mistake, I
can keep. Proofs to follow. So 50% silver at
a discount, and two for free. 1.5 ounces NCLT for
$22.45 Cdn pre tax and delivery.   
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Pillar of the Community
United States
606 Posts |
Those are some great looking coins Don. I really like unique looking coins for close to spot, so what you bought is exactly the stuff I like.
The only downside is I have no idea where I would sell it if I wanted to.
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Pillar of the Community
United States
586 Posts |
MontanaCMR, looks like my LCS is right at least for now.  |
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Pillar of the Community
United States
606 Posts |
I thought about the LCS putting everything away during the night at $14.50 and then when the sun started to come out, they start "finding" product at $16+.
We have silver, we don't, we have silver, we don't.
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Pillar of the Community
Canada
2360 Posts |
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Replies: 17 / Views: 3,605 |
Posted 11/25/2014 4:50 pm
