Silver

[Guns4Fun]

DC Dalton where you at? Or anyone else.

Let's say i wanted to purchase about 1-2K worth of silver coins. What would you buy and where would you buy it? I have a couple hundred dollars worth of pre 64 silver coins that i used to get from my grandfather when i was a boy. I'd like to add some more to my stock pile. I'm not necessarily looking for collector grade silver---i'd just like to have a little extra around for my preps and to diversify my portfolio a little more.

[bogey1]

do they have to be coins? silver bars would probably do. i think silver is @ 13. something per ounce.

[dc dalton]

OK, you got my attention (like that thread title wouldn't)

Silver closed at $13.67 Friday (up over $4 since December BTW) but it is still low in comparison to last year, hence there are STILL some stupid premiums on all of it.

The 'pretty stuff' (e.g American Eagles, Maples etc) are running $17 - $18 each, sorry WAY too much premium for this boy

Bars and generic rounds are also running a premium still but not as bad. Bars are going between $14.50 and $16.00 an ounce (even on 10 and 100 ounce bars)

Last but not least is 90% (pre 64 US coinage) ... still a smaller premium. Right now you can buy at about 11.5 x face (melt is 9.9 times face) but that depends where you get it. Even apmex.com is as 11.2 times face BUT only when you buy a $1000 bag. They are getting 15.6 times face for $100 bags

Your best best right now is 90% but finding isn't always easy ... check your local shops and the coin show schedules to see if there are any in your area

http://www.coinshows.com/pennsylvania.html

I will also be making some calls to my connections this week to see if I can 'rattle any loose' as my customers are starting to jump back in .... we are all now seeing $20 an oz by mid summer could be a real reality and if this economy get too stupid (which it could easily do) there's no limit to what it could do.


The premiums SHOULD start backing off as the price gets up over $15 BUT there are still all sorts of problems actually finding it. I have talked to my main wholesaler and they are pulling teeth to find stuff right now .... half the investors that got the hell out of Wall street jumped right into gold and silver. We will see how many start taking profits when it jumps back up into the high teens ... not sure.

I also know a lot of people are holding back sending in sterling and junk to their refiners (myself included) .... not high enough to melt yet

[fungus57]

I have used Northwest Territorial Mint in the past for generic silver rounds and bars. Good bullion prices when you buy 50+ oz, no shipping charges, BUT very long lead times. We are talking 6-8 weeks last time I checked. If you can wait that long while they have your money, give them a shot. I do use APMEX quite a bit and they are very fast.

[renegadephoenix]

what are your predictions for 100 American silver eagles in the future? i'm sitting a at least 100 of them right now.

[dc dalton]

what are your predictions for 100 American silver eagles in the future? i'm sitting a at least 100 of them right now.

Well it's funny, the higher silver goes the lower the premium on them is. When silver was $20 an ounce last year I could buy them all day long at $21-$22. They will (or should) always have about a 1 - 2 dollar premium on them but right now silver so artificially low (suppressed many say) the premiums on them are really really high

[Guns4Fun]

OK, you got my attention (like that thread title wouldn't)

Silver closed at $13.67 Friday (up over $4 since December BTW) but it is still low in comparison to last year, hence there are STILL some stupid premiums on all of it.

The 'pretty stuff' (e.g American Eagles, Maples etc) are running $17 - $18 each, sorry WAY too much premium for this boy

Bars and generic rounds are also running a premium still but not as bad. Bars are going between $14.50 and $16.00 an ounce (even on 10 and 100 ounce bars)

Last but not least is 90% (pre 64 US coinage) ... still a smaller premium. Right now you can buy at about 11.5 x face (melt is 9.9 times face) but that depends where you get it. Even apmex.com is as 11.2 times face BUT only when you buy a $1000 bag. They are getting 15.6 times face for $100 bags

Your best best right now is 90% but finding isn't always easy ... check your local shops and the coin show schedules to see if there are any in your area

http://www.coinshows.com/pennsylvania.html

I will also be making some calls to my connections this week to see if I can 'rattle any loose' as my customers are starting to jump back in .... we are all now seeing $20 an oz by mid summer could be a real reality and if this economy get too stupid (which it could easily do) there's no limit to what it could do.


The premiums SHOULD start backing off as the price gets up over $15 BUT there are still all sorts of problems actually finding it. I have talked to my main wholesaler and they are pulling teeth to find stuff right now .... half the investors that got the hell out of Wall street jumped right into gold and silver. We will see how many start taking profits when it jumps back up into the high teens ... not sure.

I also know a lot of people are holding back sending in sterling and junk to their refiners (myself included) .... not high enough to melt yet

Holly shit batman---or in this case dc dalton---you mean to tell me that the 2-300 silver dollars dated from the 1920's thru 1964 that my granddad gave me as a boy are worth about 3k today? Wow, i had no idea because i don't keep up on this stuff.

So, if i were to purchase more pre 64 silver dollars, i should look to spend about $11.5-12 each?

Thanks, i knew i could count on you.

Edit, i think it's funny because my grandad gave me these coins everytime we were over at his house. Everyone of my cousins would go down to the candy store and buy candy with their dollar---not me, i kept every one of them---i thought they looked cool with the eagle on the back and how big they were---lucky me.

[dc dalton]

Holly shit batman---or in this case dc dalton---you mean to tell me that the 2-300 silver dollars dated from the 1920's thru 1964 that my granddad gave me as a boy are worth about 3k today? Wow, i had no idea because i don't keep up on this stuff.

So, if i were to purchase more pre 64 silver dollars, i should look to spend about $11.5-12 each?

Thanks, i knew i could count on you.

Edit, i think it's funny because my grandad gave me these coins everytime we were over at his house. Everyone of my cousins would go down to the candy store and buy candy with their dollar---not me, i kept every one of them---i thought they looked cool with the eagle on the back and how big they were---lucky me.

OK, back up the bus for a second.

First off the US stopped making silver dollars in 1935. The Morgan dollar ran from 1878 - 1904 and then one year of 1921, the Peace dollars from 1921 - 1935.

Silver dollars usually run more than scrap. They contain .77734 silver in them. Unless they are slicks (they look like they were dragged behind a car), are polished or cleaned they run about $15 - $20 each right now. Of course better dates are worth more.

When you talk 90% silver we are talking quarters, dimes and half dollars made before 1964 ... that is what 'junk' silver usually consists of.

BTW, there is also silver in 1965 - 1970 Kennedy halves. They contain 40% silver in them and are currently valued at 4 times face value (e.g. $2 a peice)


Sounds like grandpa was smart man, funny ,my grandmother got me started in coins way back in the 60s ... amazing how smart our parents and grandparents turn out to be isn't it?

[Guns4Fun]

OK, back up the bus for a second.

First off the US stopped making silver dollars in 1935. The Morgan dollar ran from 1878 - 1904 and then one year of 1921, the Peace dollars from 1921 - 1935.

Silver dollars usually run more than scrap. They contain .77734 silver in them. Unless they are slicks (they look like they were dragged behind a car), are polished or cleaned they run about $15 - $20 each right now. Of course better dates are worth more.

When you talk 90% silver we are talking quarters, dimes and half dollars made before 1964 ... that is what 'junk' silver usually consists of.

BTW, there is also silver in 1965 - 1970 Kennedy halves. They contain 40% silver in them and are currently valued at 4 times face value (e.g. $2 a peice)


Sounds like grandpa was smart man, funny ,my grandmother got me started in coins way back in the 60s ... amazing how smart our parents and grandparents turn out to be isn't it?

Okay, now you made me go look. I always assumed they were just pre-64's. After looking through the bag, it looks like the silver dollars are dated mostly from 1923 thru 1930 and they say peace on them. I also have a few of the Kennedy halves in there as well as some bicentennial dollar coins. Like I said, he would give them to me when I came over and for birthdays etc. I never spent them because I thought they looked too cool to spend. Hell, they would give me $20-$50 worth of 2 dollar bills too and sometimes the silver certificate bills. They were into that stuff. Me, again, I just kept them because I thought they were cool. Hell, if I were him, I would have never allowed my cousins to spend the silver dollars on candy. I had no idea they were that old---he must have had bags full of them stashed in his bedroom---that is where he always went to get them. I just assumed they were pre-64 because I wasn’t born until 67 and didn‘t figure he‘d still have coins from the 20‘s and 30‘s.

As to grandparents, we should learn a lot from them---but too often we don't take the time. I was very close with my grandparents on both sides. Growing up, they were a wealth of information on life and it's journey. I only have one grandmother left and we still get together at least once a month just to shoot the shit and she lives 2 hours away---but it is very important to me to make the time to be with her. You can never get time missed back once she is gone.

[dc dalton]

Okay, now you made me go look. I always assumed they were just pre-64's. After looking through the bag, it looks like the silver dollars are dated mostly from 1923 thru 1930 and they say peace on them. I also have a few of the Kennedy halves in there as well as some bicentennial dollar coins. Like I said, he would give them to me when I came over and for birthdays etc. I never spent them because I thought they looked too cool to spend. Hell, they would give me $20-$50 worth of 2 dollar bills too and sometimes the silver certificate bills. They were into that stuff. Me, again, I just kept them because I thought they were cool. Hell, if I were him, I would have never allowed my cousins to spend the silver dollars on candy. I had no idea they were that old---he must have had bags full of them stashed in his bedroom---that is where he always went to get them. I just assumed they were pre-64 because I wasn’t born until 67 and didn‘t figure he‘d still have coins from the 20‘s and 30‘s.

As to grandparents, we should learn a lot from them---but too often we don't take the time. I was very close with my grandparents on both sides. Growing up, they were a wealth of information on life and it's journey. I only have one grandmother left and we still get together at least once a month just to shoot the shit and she lives 2 hours away---but it is very important to me to make the time to be with her. You can never get time missed back once she is gone.

OK, yes you have Peace dollars ... while they aren't worth as much as Morgans they are still sought after ... hang on to them.

As far as you bicentennial halves you can pull those out and cash them into the bank, sorry but they are worthless as tits on a bull.

Keep the silver certificates, the modern $2 bills you MIGHT get $2.25 on eBay but not much more.