So, I'm selling some more circulated ASE's at $18
tneig
Posts: 1,505 ✭✭✭
Whenever I see a little spike I put some out, sold 10, then put some more out.
A short bit ago I was having a hard time getting a buyer at that price for none BU's.
COA
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don't fold, hold.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Rather some of this here and there than a mutual fund or stock that is temporarily down a bit. Just cleaning out some of the more circulated quality ASE's.
(What the transition point is between a BU eagle and one with a scratch, ding, or milky spot I'm still unclear of)
Ill bid $16.
Knowledge is the enemy of fear
Central banks now buying silver?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
tell, me please, how do they circulate?
bob
Interesting !!!
it's all about eye appeal. odd, of course. bullion buyers also want good looking hunks of metal. I'd buy them all day long but won't. I know I'd have a harder time reselling them. the market spoke and i listened.
Could be worth a premium to some, young people filling holes. Limited market. Worth a try for a premium I guess.
They're worth melt to me. Best of luck.
Stacks, and cowers. As opposed to _______ &__________. I'll go with the stacks and scratches for $16., Alex.
This is like that Jeapordy game.
They do kinda lose their eagle premium and sell like generic rounds when they are mishandled. I've seen it first hand.
My YouTube Channel
the premium was never deserved . There are 600 million + eagles floating around. It was some sort of collective mass psychosis that has nearly run its course
Just my term for lack of a better one as yet. Non BU with some extent of dings or scratches or blemish. I do have one that is as worn as a Buffalo nickel (I got as a random coin buy surprise from apmex which I didn't appreciate). Most buyers from me are at my level or way below on what terms mean.
I sold some because of dings, spots, and scratches and the buyer said they look pretty good.
Impaired might be a better word than circulated, except for pocket pieces
Liberty: Parent of Science & Industry
For stacking, I look for nice ASE's... not pocket piece quality. When they look nice, they will sell quickly....Cheers, RickO
Dang...thats 3x more than the entire mintage of Peace dollars.
Knowledge is the enemy of fear
How would you know @ricko? You don't sell coins.
bob
@AUandAG ....Very true Bob.... but I do watch the market... and pretty coins sell faster than the ugly one's....much like other markets.... Cars... not what you were thinking...
Cheers, RickO
Bullion is bullion, a few nicks and scratches makes no difference in price @ricko as far as I have experienced. Coins yes, ASE's no.
bob
I look at ASEs as overpriced bullion.
The only premium I see is getting real ones, in good shape BU, from a reputable dealer, and keeping them that way. From what I see in my POV is that silver is not in short supply. A few times my pawn shop said he can't get them. I expect that was because he was not able to pay as much as the seller wanted.
BU 'quality' Engelhard Silver Prospectors deserve their premium IMO.
I was wondering the same. Never saw a circulating ASE before. That said no problem buying BU at $18 (or less) so I can see why people wouldn't want circulated at that price.
Edit: should have read the entire thread before asking about circulated Got it now. Thanks
The whole worlds off its rocker, buy Gold™.
Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.
People want a nice one for their collection, they want a cheap one for their bag o silver.
Liberty: Parent of Science & Industry
Only to the mint , if you buy an ounce of silver you pay spot , then you do work to it. You make it you deserve the premium , everyone after that that expects a premium is a thief
don't you hate that they took away the disagree button ?
Not sure I understand the thief comment. Is every business in the world stealing when they make a profit?
There are numerous valid reasons for the premium, none of which anyone has to pay unless they want to. Here's a few of them. Feel free to add to the list.
Let's revisit this topic in 5, 10, 15 years and see if the premium on American Silver Eagles has "run its course".
I often wonder if the big minters are paying less than spot. Their margins must be very small with the amount of work they put into it (melting, forming, design dies, machines, etc.), then to sell wholesale to a vendor.
number 1 ok but its not worth an extra 3 bucks
Number 2 ? seriously
If I pay $18 for an ASE and spend it as $1 that is actually a - $17 premium
number 3 ? nobody knows or cares what these things are go watch the videos on youtube of guys trying to give them away on the street
number 4 ? Flood the market with a tired old design and call it demand
number 5? Why would you tell the government about your silver?
6 is irrefutable
Half the businesses I deal with every day are stealing from me. Passing on a silver eagle premium to the next guy when you didn't do any work is right up there with comcast charging 10 bucks a month for local channels they get for free with an antenna .
Theft was the wrong word , wishful thinking , or delusionary is better
You can flood the market with anything. Doing so creates zero demand.
Say I buy an ASE from a distributor for a $3 premium at $19 delivered. Should I sell for for less than $19? I am simply "passing on a silver eagle premium to the next when I didn't do any work". Which I guess means if you don't manufacturer something you don't do anything. I should eat the premium and sell it for $16 when the market rate is $19 minimum? I am not following this reasoning at all.
I currently work for a logistics company. We don't manufacture anything. Should we charge our customers the cost our suppliers incur manufacturing the products we buy from them, selling at a 20% loss? That is what you are writing.
Both are true. Yes that is possible.
But I now have the realization of the audience for such in my POV. Def not counting on silver in a shtf, only in a working economy with knowledgeable buyers. I feel a little better about gold.
Quotes:
Put another way , why should I pay you 19 for an ASE if I can get a fresh one for that? We have already established they are not rare so why do I need to bail you out? Your 3$ was a terrible mistake , if I bail you out you are not going to learn.
If the premium is a participation trophy. Real world premiums are actually expressed in ASW . If you think it should cost $3 to stamp one out today then you actually mean you are willing to forgo .18 ounce of silver to get your ASE. That is the opportunity cost of this strategy . Always take the .18 ounce of extra silver.
If silver is $50 an ounce when you need to sell I suppose you expect to sell an ASE for $59 ? good luck with that
Never happen. You threw away $6 plus all the inflation that happened.
You can't arrange the conditions of a future sale in advance your only control is the number of ounces you own.
Maximize ounces and minimize pipe dreams .
Maximize ounces and minimize pipe dreams
I like that.👍
Knowledge is the enemy of fear
There have been no dreams. Only sound logic. But your logic of "bailing me out" when you have to pay the same price elsewhere makes zero sense.
If I hold $100 in goods and there are buyers willing to pay $100 and they can't get a better price anywhere else no one is bailing me out.
I've sold a lot of ASEs over the years and always realized a premium when selling. I can usually shop around and get them for $1 or $2 over melt. It has never been a problem getting that back.
Another P.S: When silver went to near $50 in 2011 generic was available for 10% back of melt at every turn. ASE were bringing $50 minimum at the same time.
Good luck getting melt for your generic if silver goes to $50. Maybe somebody will pay 95% of melt and "bail you out".
what does getting melt have to do with anything? Each buy and each sale has its own set of conditions that are determined in that moment. I chose to maximize ounces and let the universe sort out the rest.
I don't buy generic I buy 90% the only form of silver in this world that's getting scarcer . If that never pays off so be it, I will still have more ounces.
In 2011 if you bought the generic for back of melt you would have more silver now than if you bought eagles then
I have completed hundreds of transactions for hundreds of thousands of dollars of all types of silver over the years. In nearly every situation generic silver trades under melt (net to the seller). You better get more when buying generic because you'll get less when selling.
At the end of the day owning some physical silver is good. My experience has been eagles and 90% sell best and return the most on initial investment. As always ymmv.
These three rolls just arrived this afternoon. 12x delivered.
Last of the batch in this grade set for sale at $18 and they have been moving.
I'm not sure how I can sell better ones for more.