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Question About Spanish Silver Coins, Please Advice!

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Pillar of the Community
Kingz's Avatar
Netherlands
626 Posts
 Posted 01/17/2011  10:11 am Show Profile   Bookmark this topic Add Kingz to your friends list Get a Link to this Message Number of Subscribers
I need some advice again from some of you more experience buyers / collectors when it comes to silver. I am first and formost a coin collector, wether it's silver, copper or bronze. But lately I'm buying more silver coins for the simple reason that it is Silver. But those coins are mostly with a nice grade / quality.

But now my question is, I can buy a lot of old Spanish Silver Peseta's which are placed in hangers (for necklaces). The quality of the coins are not great, or even really bad in some cases. But I think the silver alone is worth the price, I have 3 pictures with the coins and hangers.
I'm hoping you guys can tell me if I payed too much, or if I had a good deal!? I think it's the latter one, but maybe I overlooked something

If I'm correct, these are all 1 & 2 Peseta's from late 19th century.
1 Peseta has 5gr. / 0.8350 Silver X 18 Coins
2 Peseta has 10gr./ 0.8350 Silver X 9 Coins

Question-About-Spanish-Silver-Coins,-Please-Advice!
Question-About-Spanish-Silver-Coins,-Please-Advice!
Question-About-Spanish-Silver-Coins,-Please-Advice!

In total it should be around 150gr. in Silver
The euro price for 1 gr. is €0,68

So the total worth is around €100

Valued Member
Greece
425 Posts
 Posted 01/17/2011  12:27 pm  Show Profile   Bookmark this reply Add epop to your friends list Get a Link to this Reply
In this lot you can find nearly 5 ounces of pure silver.Nearly ,because 5 ounces are 155.5 grams, and your coins contain, is 150.3. An ounce today worth 21.17 euro. So 5 ounces cost 106 euro.If you buy for 100 euro then you do fairly well.But you must keep in mind that jewelery coins worth only for bullion(except really rare pieces) and melting silver at a licenced refinery is an expensive project.
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swamperbob's Avatar
United States
5362 Posts
 Posted 01/17/2011  6:18 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
In the US, you would get about 85% of the spot price of silver for these items. So you would be buying at a premium at 100 Euros.

Since these really are bullion only you might be better off buying a bullion coin where the margins are lower.
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Kingz's Avatar
Netherlands
626 Posts
 Posted 01/17/2011  9:34 pm  Show Profile   Bookmark this reply Add Kingz to your friends list Get a Link to this Reply
cool! Thanks for the info guys... I can buy them for €55, that will do I guess

As for the coins, I will get thes best out of the hangers, since some are pretty rare but still descent looking IMO.... I have worse coins in my collection. For the rest I can trade with a Dutch guy purely for the silver content. He is a bullion hoarder, so I can trade with him for other nice stuff (He doesn't mind the quality )

So I think in overall it will be a good deal!
Pillar of the Community
Kingz's Avatar
Netherlands
626 Posts
 Posted 01/22/2011  2:24 pm  Show Profile   Bookmark this reply Add Kingz to your friends list Get a Link to this Reply
... So I guess I wasn't correct with some of the details...

There were indeed 9 coins of 2 peseta's which is 8.35 gram in Silver.
However the 19 other coins were not 1 peseta's but 50 centimos
Which is 2.0875 Silver, so the total silver comes down to a little less then 115 Grams of silver content. And the silver price has come down again a little bit to €0,65 a gram, which is €74,63 for total amount.

Question-About-Spanish-Silver-Coins,-Please-Advice!

So according to Swamperbobs explenation I'm still way under the spot price, which is still nice ofcourse

And also got some other non silver coinage in the lot

20 Centavos - Peru
Question-About-Spanish-Silver-Coins,-Please-Advice!
I love those coins!

& 10 Centimos - Spain
Question-About-Spanish-Silver-Coins,-Please-Advice!

All in all a nice deal I guess
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