| Author |
Replies: 46 / Views: 8,763 |
|
|
|
Pillar of the Community
 United States
2869 Posts |
Wow! I am looking for such finds buying worn coins and revealing stuff but do not have anything nearly as nice.
|
|
Bedrock of the Community
Australia
21788 Posts |
Just remember that bullion is just like any other commodity, inasmuch that the more that you buy in a single purchase, the smaller premium overall that has to be paid for both buy and sell.
|
|
Pillar of the Community
United States
876 Posts |
I purchase junk/Constitutional silver on a regular basis because it offers the lowest premium which is not so low now. If anyone pays silver spot price or more for 90%, you are wrong. Junk should always be under spot. Spot x .715 = melt value for 90%. Junk is priced in relation to melt price, not spot. Why would you ever pay spot or more for 90%? Premiums have gone through the roof on junk. I used to pay about 8% over melt less than a year ago. Today I pay around 20%. However, I will continue my purchases based on dollar cost averaging. To me,collecting junk silver is a small investment for protection from fiat money and cryto. ASE, rounds, Maple Leafs, Krugerrands, .999, higher premium. An increase in premiums for junk indicates a smaller supply. It is becoming more difficult in my area to locate pre 65. There is a limited supply that is being depleted more rapidly. Cull Peace dollars I have picked up for $28 recently. I hope this helps. I will continue to aquire the junk as long as there is some left. $
|
|
Pillar of the Community
United States
876 Posts |
Do not buy junk silver as close to spot as you can. Buy it as close to melt as you can. Today,20% over melt is still less than spot.
|
|
Pillar of the Community
 United States
8750 Posts |
Quote: Do not buy junk silver as close to spot as you can. Buy it as close to melt as you can. Today,20% over melt is still less than spot. You are correct,I misspoke when I said spot, I'm aware of what melt value is on coinage and usually just use 3/4 for quick figures in my head, when bidding on the bay. Thanks for correcting me though. I get ahead of myself sometimes. 
-makecents-
|
|
Pillar of the Community
United States
876 Posts |
The actual silver content of Constitional silver pre 65 is higher than .715. This is a compromise figure based on wear and lost weight due to circulation.
|
|
Pillar of the Community
 United States
8750 Posts |
Quote: The actual silver content of Constitional silver pre 65 is higher than .715. This is a compromise figure based on wear and lost weight due to circulation. Cool to know, I did not realize that. I buy mixed lots that will include well worn coins though and love to buy mercs to search for overdates.
-makecents-
|
|
Pillar of the Community
 United States
5184 Posts |
My problem with investing or stacking silver, gold, or bullion is liquidity. Buying is easy, but selling always seems difficult or shady. Do I really have to go to a guy's basement to sell my coins?
Edited by NumisEd 07/30/2021 8:36 pm
|
|
Bedrock of the Community
Australia
21788 Posts |
1. Anyone know what the current melt price is of .925 British sterling scrap silver? (I have quite a lot of very worn old British silver coins), In comparison, 2. What is the current price of spot silver?
|
|
Pillar of the Community
 United States
8750 Posts |
Quote: Do I really have to go to a guy's basement to sell my coins? I think you need to find some different clientele. 
-makecents-
|
|
Pillar of the Community
 United States
2869 Posts |
Yeah, my town you go into a little office in the back of a ac workshop. Hardly any lights too.
|
|
Pillar of the Community
 Canada
9864 Posts |
In my town he's like Comic Book Guy with a vault in the basement. Not many people know he buys and sells silver and gold. As long he has the smallest margins for both buy and sell I'll continue dealing with him as I have for about 25 years now.
"Dipping" is not considered cleaning... -from PCGS website
Edited by DBM 07/30/2021 9:52 pm
|
|
Pillar of the Community
 United States
8750 Posts |
 I am coming to the realization that I need a basement guy. 
-makecents-
|
|
Pillar of the Community
 United States
2869 Posts |
Not a bad idea. The morgans I posted a month ago, the 4 mercs the1901 barber, the 4 1981 proof sets that I got for mm varieties come from there.
|
|
Pillar of the Community
United States
2049 Posts |
"About 20 years ago, a professional investment advisor suggested that no more that about 5% of your total assets should be in bullion, coins or artworks etc."
I always get a kick out of hearing this. Those types make their money off of commissions from clients moving their money into stocks, securities, etc. They don't make a dime if you go online or to your LCS to buy bullion so they are not going to encourage it. Personally, I would rather have a higher percentage than what he suggested as I sleep better at night knowing I have physical assets that are in my possession and are easy to unload if I need cash.
|
| |
Replies: 46 / Views: 8,763 |