So, I'm selling some more circulated ASE's at $18

tneigtneig 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

Comments

  • derrybderryb Posts: 27,421 ✭✭✭✭✭

    don't fold, hold.

    “We can ignore reality, but we cannot ignore the consequences of ignoring reality.” – Ayn Rand

  • tneigtneig Posts: 1,505 ✭✭✭

    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)

    COA
  • cohodkcohodk Posts: 15,840 ✭✭✭✭✭

    Ill bid $16.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • derrybderryb Posts: 27,421 ✭✭✭✭✭

    Central banks now buying silver?

    “We can ignore reality, but we cannot ignore the consequences of ignoring reality.” – Ayn Rand

  • AUandAGAUandAG Posts: 21,476 ✭✭✭✭✭

    tell, me please, how do they circulate?

    bob :)

    BST deals: Dozens of buys/sells. Will provide a list upon request.
    Registry: CC lowballs (boblindstrom), [email protected]
  • Timbuk3Timbuk3 Posts: 10,678 ✭✭✭✭✭

    Interesting !!! :)

    Timbuk3
  • MsMorrisineMsMorrisine Posts: 23,352 ✭✭✭✭✭

    @tneig said:

    (What the transition point is between a BU eagle and one with a scratch, ding, or milky spot I'm still unclear of)

    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.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • maplemanmapleman Posts: 862 ✭✭✭✭✭

    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.

  • TwoSides2aCoinTwoSides2aCoin Posts: 40,832 ✭✭✭✭✭

    Stacks, and cowers. As opposed to _______ &__________. I'll go with the stacks and scratches for $16., Alex.

    This is like that Jeapordy game.

  • ashelandasheland Posts: 14,060 ✭✭✭✭✭

    They do kinda lose their eagle premium and sell like generic rounds when they are mishandled. I've seen it first hand.

  • bronco2078bronco2078 Posts: 7,631 ✭✭✭✭✭

    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

  • tneigtneig Posts: 1,505 ✭✭✭

    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.

    @AUandAG said:
    tell, me please, how do they circulate?

    bob :)

    COA
  • BaleyBaley Posts: 21,272 ✭✭✭✭✭

    Impaired might be a better word than circulated, except for pocket pieces

    Liberty: Parent of Science & Industry

  • rickoricko Posts: 69,428 ✭✭✭✭✭

    For stacking, I look for nice ASE's... not pocket piece quality. When they look nice, they will sell quickly....Cheers, RickO

  • cohodkcohodk Posts: 15,840 ✭✭✭✭✭

    @bronco2078 said:
    the premium was never deserved . There are 600 million + eagles floating around.

    Dang...thats 3x more than the entire mintage of Peace dollars.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • AUandAGAUandAG Posts: 21,476 ✭✭✭✭✭

    @ricko said:
    For stacking, I look for nice ASE's... not pocket piece quality. When they look nice, they will sell quickly....Cheers, RickO

    How would you know @ricko? You don't sell coins.

    bob ;)

    BST deals: Dozens of buys/sells. Will provide a list upon request.
    Registry: CC lowballs (boblindstrom), [email protected]
  • rickoricko Posts: 69,428 ✭✭✭✭✭

    @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... :D :D ;) Cheers, RickO

  • AUandAGAUandAG Posts: 21,476 ✭✭✭✭✭

    @ricko said:
    @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... :D :D ;) 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 :)

    BST deals: Dozens of buys/sells. Will provide a list upon request.
    Registry: CC lowballs (boblindstrom), [email protected]
  • OuthaulOuthaul Posts: 6,503 ✭✭✭✭✭

    I look at ASEs as overpriced bullion.

    Never take a front row seat at a Bris.
    Proud recipient and founding member of the "YOU SUCK" Club since 8/31/04 - USAF Retired: 1974 - 1994

  • tneigtneig Posts: 1,505 ✭✭✭

    @bronco2078 said:
    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

    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.

    COA
  • maplemanmapleman Posts: 862 ✭✭✭✭✭

    BU 'quality' Engelhard Silver Prospectors deserve their premium IMO.

  • blitzdudeblitzdude Posts: 1,875 ✭✭✭✭✭
    edited February 1, 2019 11:53AM

    @AUandAG said:
    tell, me please, how do they circulate?

    bob :)

    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

  • VanHalenVanHalen Posts: 3,174 ✭✭✭✭

    @bronco2078 said:
    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

    Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.

  • BaleyBaley Posts: 21,272 ✭✭✭✭✭

    People want a nice one for their collection, they want a cheap one for their bag o silver.

    Liberty: Parent of Science & Industry

  • bronco2078bronco2078 Posts: 7,631 ✭✭✭✭✭
    edited February 1, 2019 6:52PM

    @VanHalen said:

    @bronco2078 said:
    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

    Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.

    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 B)

    don't you hate that they took away the disagree button ? :D

  • VanHalenVanHalen Posts: 3,174 ✭✭✭✭

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:
    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

    Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.

    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 B)

    don't you hate that they took away the disagree button ? :D

    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.

    1. U.S. Government guarantee of purity.
    2. Legal tender status in the strongest currency in the world.
    3. Worldwide recognition of value even among the general populace.
    4. Higher demand across the board.
    5. Only U.S. silver coins eligible for IRA accounts.
    6. Intangibles.

    Let's revisit this topic in 5, 10, 15 years and see if the premium on American Silver Eagles has "run its course".

  • MsMorrisineMsMorrisine Posts: 23,352 ✭✭✭✭✭
    1. paying for the cost of production.
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • tneigtneig Posts: 1,505 ✭✭✭

    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.

    COA
  • bronco2078bronco2078 Posts: 7,631 ✭✭✭✭✭

    @VanHalen said:

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:
    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

    Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.

    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 B)

    don't you hate that they took away the disagree button ? :D

    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.

    1. U.S. Government guarantee of purity.
    2. Legal tender status in the strongest currency in the world.
    3. Worldwide recognition of value even among the general populace.
    4. Higher demand across the board.
    5. Only U.S. silver coins eligible for IRA accounts.
    6. Intangibles.

    Let's revisit this topic in 5, 10, 15 years and see if the premium on American Silver Eagles has "run its course".

    number 1 ok but its not worth an extra 3 bucks

    Number 2 ? seriously :D 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

  • VanHalenVanHalen Posts: 3,174 ✭✭✭✭

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:
    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

    Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.

    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 B)

    don't you hate that they took away the disagree button ? :D

    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.

    1. U.S. Government guarantee of purity.
    2. Legal tender status in the strongest currency in the world.
    3. Worldwide recognition of value even among the general populace.
    4. Higher demand across the board.
    5. Only U.S. silver coins eligible for IRA accounts.
    6. Intangibles.

    Let's revisit this topic in 5, 10, 15 years and see if the premium on American Silver Eagles has "run its course".

    number 1 ok but its not worth an extra 3 bucks

    Number 2 ? seriously :D 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.

  • tneigtneig Posts: 1,505 ✭✭✭
    edited February 2, 2019 9:00AM

    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:

    • Worldwide recognition of value even among the general populace.
    • 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
    COA
  • bronco2078bronco2078 Posts: 7,631 ✭✭✭✭✭

    @VanHalen said:

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:
    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

    Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.

    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 B)

    don't you hate that they took away the disagree button ? :D

    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.

    1. U.S. Government guarantee of purity.
    2. Legal tender status in the strongest currency in the world.
    3. Worldwide recognition of value even among the general populace.
    4. Higher demand across the board.
    5. Only U.S. silver coins eligible for IRA accounts.
    6. Intangibles.

    Let's revisit this topic in 5, 10, 15 years and see if the premium on American Silver Eagles has "run its course".

    number 1 ok but its not worth an extra 3 bucks

    Number 2 ? seriously :D 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.

    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 :D 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 .

  • cohodkcohodk Posts: 15,840 ✭✭✭✭✭

    Maximize ounces and minimize pipe dreams

    I like that.👍


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • VanHalenVanHalen Posts: 3,174 ✭✭✭✭
    edited February 2, 2019 9:55AM

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:

    @VanHalen said:

    @bronco2078 said:
    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

    Or you could say the premium was always deserved. Mintage numbers never had anything to do with the premium.

    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 B)

    don't you hate that they took away the disagree button ? :D

    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.

    1. U.S. Government guarantee of purity.
    2. Legal tender status in the strongest currency in the world.
    3. Worldwide recognition of value even among the general populace.
    4. Higher demand across the board.
    5. Only U.S. silver coins eligible for IRA accounts.
    6. Intangibles.

    Let's revisit this topic in 5, 10, 15 years and see if the premium on American Silver Eagles has "run its course".

    number 1 ok but its not worth an extra 3 bucks

    Number 2 ? seriously :D 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.

    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 :D 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 .

    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.

  • VanHalenVanHalen Posts: 3,174 ✭✭✭✭

    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".

  • bronco2078bronco2078 Posts: 7,631 ✭✭✭✭✭
    edited February 2, 2019 10:50AM

    @VanHalen said:
    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

  • VanHalenVanHalen Posts: 3,174 ✭✭✭✭

    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.

  • tneigtneig Posts: 1,505 ✭✭✭

    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.

    COA
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