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 Replies: 13 / Views: 1,732 |
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New Member
United States
9 Posts |
Hi all, new guy here. I've been accumulating silver the past few months mostly in 90% coins. I'm using it as a hedge against my stocks (instead of buying SLV) and to teach a little history to my kids. All my coins have been purchased near spot, as I'm not into the "collecting" aspect of the hobby. I guess the term is I'm stacking?  I don't know, I'm new... Anyway, a friend of mine says (and I've read), it is and it may be harder to sell coins with less than 90% silver for various reasons shipping costs are higher because of the extra metal or in a doomsday scenario they may not be as easily tradable. What about Canadian coins? Think the same would be true for 80% or the 50% coins? My friend also says in the doomsday scenario, the gov't couldn't confiscate Canadians - and that's the reason some prefer the Maple Leaf bullion. He gets a round from each major country yearly. I've been mostly accumulating halves and quarters. Think I should stick with that or get into dimes and dollars? Or bars? Any help is appreciated! |
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Pillar of the Community
United States
511 Posts |
If a greedy, tyrannical government wants to confiscate gold, silver or any other item, everything is fair game for the goosestepping goon squads. Get what you like for the best possible price. Personally, I think silver dimes are the way to go because of divisibility (14 or $1.40 face value = an ounce of silver).
As for .800 fine Canadian, it's not a bad thing to have if the price is right, as in less per ounce than U.S. 90 percent.
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Pillar of the Community
United States
3294 Posts |
I have found Canadian silver coins much harder to get a fair price for then US coins in the US. That is because the main avenue of sales that I deal with does not have much demand for Canadian coins and so only offers around 50% of spot, leaving me to have to sell on craigslist. Not saying it can't be done, but it is more pain to me then it is worth. |
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Pillar of the Community
Canada
1502 Posts |
I agree with nod2003
Even here in Canada I find it a bit difficult to unload silver Canadian halfs for the prices I'm looking for unless they are numismatically valuable.
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Pillar of the Community
United States
931 Posts |
My opinion on Canadians is that they arE nice people but some are sort of unruly at Sabre's games. As far as 80% silver, why buy silver that is hard to sell when you can buy silver that is easy to sell. If you get a great deal on Canadian silver at a yard sale or something definitely don't pass it up though.
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Pillar of the Community
Canada
834 Posts |
We Canadians are unruly at sabre games because the darn NHL won't give us another team in between Buffalo and Toronto. But I must admit with the signings in buffalo I'm looking forward to this season (season ticket holder). As for 80% silver coinage if you get offered 20x face for it take it and run! I'm sitting on $500FV in 80% cdn silver a e know when the time cones will have a hard time getting close to spot for it
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Valued Member
Canada
321 Posts |
alot of canadians seem to completely ignore the fact that 1908-1919 canadian silver is 92.5% :)
Edited by Imohtep
09/16/2011 08:05 am
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Pillar of the Community
United States
931 Posts |
It's amazing how many Canadians make the trip to Sabre's games. Crossing the border to make it to a game is above and beyond the call of duty. they should give you a team in Hamilton.
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Pillar of the Community
Canada
834 Posts |
From my understanding it's now 50/50 American to Canadian season ticket holders for the sabres. For me living 10 mins from the fort Erie boarder makes it worth the drive. Plus my sabers season tickets, bills season tickets combined are still far cheaper to get than leaf season tickets. Though if we got a team in Hamilton I could see me making the drive there, but I do love that cheap American gas... Well compares to our prices
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Rest in Peace
United States
9104 Posts |
You must remember that there are twice as many impurities in 800 as 900, requiring more chemicals to remove them. Some refiners won't take anything under 800.
Even on the good side, it takes 12.5% more 800 to get the same output as 900. Even refineries have a capacity.
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Valued Member
175 Posts |
The NHL just gave you back your Winnipeg Jets :). I like 90% silver coins. They have silver value and some have numismatic value. If a doomsday scenario every did happen the 90% silver coins would be the easiest to barter with imo.
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Pillar of the Community
United States
535 Posts |
As you can see there is a lack of interest in not only Canadian silver, but foreign silver in general. That is not only true in on-line forums, it is also true in general as you start paying attention at auctions, antique stores, and even in coin shops and coin auctions.
I have a local coins shop that lets me dig through her box of Canadian (which includes pre 1920) and buy it for spot (calculated at the 80% purity) before she ships it off to the smelter. Everything from G2 to BU coins. That is a very economical way to build my collection!
About a year ago I picked up over 5 ounces ASW in foreign silver at a local coin auction for $13. At an antique store a few months ago I bought a tin of foreign coins for $3. It had $2.10 face of Canadian 80%. Yesterday I bought a 1936 German 5 mark at an antique store for $2. Earlier this year I bought a box of foreign coins and currency for $100. I traded the currency for nine 64 Kennedys($100 spot at the time) and kept the 7 New Zealand and Australia silver florins.
Yes, my recommendation is to STAY AWAY from foreign silver - its just not worth the hassel and it costs too much to ship.
And don't fool yourself, the gubment will do whatever they want.
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Rest in Peace
United States
9104 Posts |
 ns2a- If you were in Canada, the market for 80/50 would be better, as 90/40 is in the states. Just as some refiners won't mess with 40, 50 has a limited market, especially because of the small amount made. |
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Pillar of the Community
United States
4008 Posts |
Quote:
My friend also says in the doomsday scenario, the gov't couldn't confiscate Canadians - and that's the reason some prefer the Maple Leaf bullion. I have to agree with 3Stooges on this one. Governments that are sufficiently desperate to steal private property aren't going to be the least little bit interested in allowing any minor inconveniences, such as the laws that the rest of us HAVE to follow, to get in their way. If we have it and they can get it, they will. I have found that I can often buy silver Maple leaf coins for about $1-2 less each than the price of ASEs a lot of the time. If there is only $0.50 difference, I would probably buy the ASEs but for double that or more, why not buy the Canadian coins? They sure do look nice.  |
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Replies: 13 / Views: 1,732 |
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Posted 09/15/2011 08:57 am
