| Author |
 Replies: 13 / Views: 7,183 |
|
|
New Member
United States
4 Posts |
I was at a local pawn shop today looking around and asking if they sell silver bars or coins and the owner pulls out a stack of fresh 1 oz indian buffalo coins but wasn't interested until he pulled out a 8 oz JFK silver coin (over sized of course). Now the coin wasn't obviously wasn't for sale at the moment but he did say if the person who pawn it doesn't return for it he will let it go for 145.00. Is that actually a decent price for a silver 8 oz coin like that? I don't know how much they go for these days..I'm hoping I can pick it up come June 3rd if the owner doesn't show up for it.
|
|
|
|
Moderator
 United States
54280 Posts |
The Washington Mint made one that was 8 troy ounces, even though marked "half pound". They weigh about 248-249 grams. There is the same coin in a box marked The Morgan Mint, with a COA from the Collector's Mint. On ebay these are LISTED for up to $250 or so. They are SELLING for around the amount you have been quoted. There are also versions that are "enriched" silver (meaning plated), so be sure of what you are buying. PLATED:  NOT PLATED:  Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
|
Pillar of the Community
United States
757 Posts |
I have some of the oversized silver ASE rounds. You need to be careful though because they say one half pound of silver. The things is they are not 8 Troy ounces they are usually 8 ounces. When you do the conversion they weigh roughly 7 Troy ounces. With silver (up) at 16.76 an ounce you have about 117 worth of silver. The asking price is rough 4 over spot per ounce. That's a pretty high premium. |
|
Pillar of the Community
United States
6326 Posts |
My father bought a bunch of non-US Mint products years and years ago. While he was alive I never could convince him they they were only worth spot price on any given day, despite any beautiful proof-like quality coins that were there. Mostly his were Franklin Mint products. Personally, I avoid non-US Mint products like the plague. I think the money is better spent on quality US Mint coins. But like most living creatures, shiny glittering objects get our attention and make us desire to hold/own them and carry them away to our homes where we can hoard as much or as many as possible. ...  Smeagle/gollum comes to mind with how I feel about MY "shiny objects"  (My preciousssss...)  Edited by eaglefoot
04/19/2016 08:32 am
|
|
Pillar of the Community
United States
1913 Posts |
Quote:
The asking price is rough 4 over spot per ounce. That's a pretty high premium. I agree. Plus, given the issues with the weight and it potentially not even being silver, I'd avoid it. That is, unless he can prove to you that it's 99.9% silver (scan gun), puts it on a scale to prove the actual number of troy ounces and lowers the premium to $0.50 at the most. If you want a large real coin, the America the Beautiful 5oz quarters have a lower premium and seem to hold value decently well. If you want to go even larger, the Perth Mint (Australia) makes some 10oz and 1kg (32.15oz) coins. I have one of their 1kg coins and it's certainly a handful. BTW, it's a coin if it has a face value that is backed by a government. Otherwise, it's just a silver round. |
|
Pillar of the Community
 United States
4588 Posts |
Also be clear - these are NOT US Mint coins. They are bullion, privately minted with the designs of US coins. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
|
Pillar of the Community
United States
4211 Posts |
 kingwon! I bought an "8"oz. ASE at a coin show last year. It was priced just over spot and I liked it. |
|
New Member
 United States
4 Posts |
It is a risky buy at that price. Just thought it looked pretty cool in my collection.
|
|
Valued Member
United States
411 Posts |
a few years ago my wife was at the jewelry mart in Atlanta and came across two very large silver eagles. she called me and ask me about them. I told her that I knew nothing about them. she said the guy told her they were copies of the real silver eagles and pure silver, 8 troy ounces. she ask him the price and he said I think they are around $25 each. I ask her if they had 999 on them. she said yes. while she and I were talking he told her that he had made a mistake on the price but she could have them for (both) $120.she bought them and they are real silver. do not remember weight.again I can't find my camera as I'm packing to move, but will get pictures as soon as I can find it.
|
|
New Member
United States
4 Posts |
Never seen a 8 oz silver before only except for the 5 oz. Both for 120 is a steal.
|
|
Pillar of the Community
United States
4211 Posts |
|
|
New Member
United States
4 Posts |
Looks weird with the gold plated coins on the back.
|
|
Valued Member
United States
422 Posts |
I'm a JFK fan I would buy one of those.
|
|
Moderator
United States
54280 Posts |
How can it be .999 fine silver, with that gold on there? That has to be at least .002 of the total weight.
:)
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
| |
Replies: 13 / Views: 7,183 |
|
Posted 04/19/2016 07:56 am
