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 Replies: 20 / Views: 2,628 |
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Valued Member
United States
155 Posts |
Unfortunately the thing looked like it had a cigarette stamped out on the obverse. I couldn't believe when they wanted to charge over melt value for it. When I inquired about the price the sales person informed me that they would have to check because the price of silver fluctuates and then informed me that the silver value of the ASE was $38 today. I politely passed. |
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Pillar of the Community
United States
4897 Posts |
What time of day? Maybe they thought they had some insider knowledge that Au was gonna jump 4 dollars today. JK. That tactic probably works for them though.
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Pillar of the Community
United States
4897 Posts |
Sorry, silver. Sometimes read things then think of other things while I type. Lol
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Valued Member
United States
467 Posts |
Awful price, I picked up some 2011 BU Eagles for $35.50 ea today. :)
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Pillar of the Community
United States
594 Posts |
$35.50 isn't too bad considering silver closed at $33.30 today (2/25/11). At the pace it's going the $35 mark isn't too far off in the future. But $38 for a trashed one, I would have passed too. Just like I did when he told me his junk Mercury dimes were $2.50 each today. Passed and told him, not for above melt price. Bad part about it, they were $2.25 last time I was in there about a week and a half ago. It's just going to get worse. Edited by KenRingold
02/25/2011 8:33 pm
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Valued Member
United States
307 Posts |
I stopped by the coin shop on the way home. He has added a sign that shows the current spot on gold and silver. He told me that he has been selling filler silver coins for spot. He still demands a higher price for coins in demand. He claims that this is the first time in 20 years that he is getting a substantial return on his investment and he is buying and selling more. He buys at spot less 15% it works out to be what you would receive if you sold on ebay. I am happy because in the past he said he might have to close the shop as he was not making rent. Silver prices have helped him.  |
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Valued Member
 United States
155 Posts |
coin chaser I think silver prices are helping a lot of coin shops. There was a canadian man in the shop at the same time as me and he walked right to the morgans I had on the counter and inquired about the silver content. I told him as the attendant did not know (this is a jewelry store that happens to have a nice silver coin selection). He bought 10 Morgans at $30 a piece. One of them was worn nearly smooth on the obverse. He then turned to me and said, "what are these called?" and then after I told him they are called Morgan dollars, he asked, "why do they call them Morgan dollars?" Back to my point, silver is selling and helping shops make rent for sure. |
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Valued Member
United States
91 Posts |
I'm not sure if I like that story or not...
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Pillar of the Community
United States
594 Posts |
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Pillar of the Community
United States
1510 Posts |
dont feel bad I saw a 90 percent silver commemrative for $45!
Retired USAF 1983-2003
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Pillar of the Community
United States
594 Posts |
Was just looking at the new Medal of Honor Commemorative silver dollar. It's 90% and the Mint wants an introductory price of $49.95 for the uncirculated and $54.95 for the proof. And the price goes up March 29th.
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Pillar of the Community
United States
4901 Posts |
The will always be a difference in issue price between a commemorative issue coin (90% silver)and a bullion coin (99% silver)...apples and oranges. It would not be prudent to buy the former because of its' silver content. It is a collectible... The gray area occurs when there is a limited mintage bullion coin a.k.a. 1996 ASE or the 2010 ATB 5 ounce beasts. SO a purely bullion issue becomes a collectible issue |
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Valued Member
United States
307 Posts |
 However silver eagles have value differentials due to the amount minted. Bullion value is tied to the spot price. On the other hand some new buyers are looking at silver value of commems since most other coins minted do not have the silver content as a hedge. |
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Pillar of the Community
United States
594 Posts |
Quote:The gray area occurs when there is a limited mintage bullion coin a.k.a. 1996 ASE or the 2010 ATB 5 ounce beasts. SO a purely bullion issue becomes a collectible issue So then the low end Mercury dimes have become bullion? And that's why they are selling for above melt, instead of the numismatic value? Quote:
It would not be prudent to buy the former because of its' silver content. It is a collectible That's why I'm not buying the Mercury dimes. |
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Valued Member
United States
307 Posts |
 Sad to say all low end silver coins have become bullion grade. Some have never been worth what they are now. People are watching silver with their finger on the trigger.  |
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Pillar of the Community
United States
4901 Posts |
A coin does not "become" bullion. If you read my comment it pertains to bullion (ASE/ATB pucks).
A coin may be worth just the silver it contains but it is still a numismatic issue. What something is worth does not change what it actually is.
A lot of the low grade early issue silver dimes, quarters, half dollars, and silver dollars are only worth their intrinsic value but that doesn't make them less collectible...
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Replies: 20 / Views: 2,628 |
Posted 02/25/2011 7:32 pm
