(Updated for more knowledge on testing) Let me bust your bubble Silver Eagle lovers.
oldstandard
Posts: 387 ✭✭✭
Ok here are the test results for your over priced Eagles now remember pure silver is 1.57, the plain old round has a surface reading of 1.65 and a through reading of 1.65 now that is an outstanding .999 fine silver and what it should be the surfaces matches the middle purity which is true .999 fine silver. For the dirty eagles the surfaces readings are always so so this one is 1.69 it is the through reading that are not good on them. This dirty Eagle reads 1.74 but we get them all the time at 1,85 almost off the scale for being legal .999 fine silver. So are silver Eagles silver yes just not as pure as they should be but remember who is putting them out pretty on the outside and ugly in the middle, so remember this when you are paying the premium for these Dirty Birds.
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Comments
This is well established, 999 silver with with copper added. Is there a silver product from a sovereign mint without a significant premium over generic rounds? What do you get when you sell? I pay spot +$1 or more over the counter for ASE's. If you bring me beaten up rounds, Ill pay spot if your lucky. Part of buying the higher premium/demand product is getting some of that premium over spot back when you sell. Just depends on how diverse you want your stack and where you see premiums/demand in the future.
No I understand the game we play it to as long as the herd follows you charge it I completely see why they are being sold at that just do not understand the love for them nothing more my friend plus I like to play with the eagle crowd they are very devoted to the dirty birds.
I really don't care if the ASE's .001 of something else is on the surface or in the middle. It's the .999 percent I'm buying.
"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
Yes I agree .999 fine as close to spot as you can get eagles are over price for what reason it is not for quality.
Don’t blame the minter but blame the refiner.
I will add some test when I have time some are way off the scale there is one year a lot don't even qualify as .999 fine more like .975 on some we should call them the almost American sterling eagles. If you call a bird a duck it becomes a duck I assume the premium is because of who puts them out like the other over priced foreign mints but they do regulate they purity to what they state. Private mints can be regulated and fined but no one regulates the regulator right thus the results of private minted silver having better purity.
what about coin silver?
I like ASE's.... I do not like the mint premium over spot....Cheers, RickO
Most liquid piece of silver in the United States. I'll take them all day long as there is never a shortage of buyers. If patient I can always get back the premium I put in. Can't say the same for any other silver, 90% junk is a close second.
The whole worlds off its rocker, buy Gold™.
So you are saying American Silver Eagles are several percent base metal? Gotcha.
I have no idea what in the hello the O.P. Is talking about. What do those readings signify? The price of tea in China?
Do specific gravity tests to back up or refute your claims.
Most liquid piece of silver in the United States. I'll take them all day long as there is never a shortage of buyers. If patient I can always get back the premium I put in. Can't say the same for any other silver, 90% junk is a close second.
And that's all there is to it. It's not "a game that the herd plays " - it's just the facts.
I knew it would happen.
there is one year a lot don't even qualify as .999 fine more like .975 on some
It would be interesting to have that documented to the Mint.
I knew it would happen.
Perphaps user error? https://sigmametalytics.com/instructions/manuals.html
Good (?) thing about ASE's is their qualifying for inclusion in an IRA.
Rounds aren't. These are.
American Eagle coins
Australian Kookaburra coins
Austrian Philharmonic coins
Britannia Bullion coins (2013 or newer)
Canadian Maple Leaf coins
1,000 oz. Silver bars
Why would anyone hold physical metal in a very long term IRA? There are equity/ETF IRA options to invest in metal.
"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
Its not yours unless its in yiur hand, right?
Knowledge is the enemy of fear
Oh ya lets tell uncle sam exactly how much silver we have
Hey, I'm not ADVOCATING physical metal in an IRA.
Just illustrating where SOME demand comes from.
Sheesh....
Topsurf, this a..a... COIN forum. Precious Metals!!
Precious, in hand, in safe, in a hole in the back yard, Metals.
Good try, though...
Now there’s a thought!
My problem with metal IRAs is the metal is tied up (not liquid) for a long time. At least with a metal equity/ETF IRA trades into and out of metals can be made quickly at any time.
"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
Considering the premium, do any silver eagles ever get melted?
My Adolph A. Weinman signature
It is reasonable to assume many damaged eagles have been melted in the last 33 years. The manufacturer that produces ASE blanks for the mint has had their share of planchets melted for various reasons as well.
another problem is that stackers overbuy . Imagine being overextended and having to tap that metals IRA before you are old enough? Pay tax on metal plus a penalty
No anyone that knows metals know they are not a very clean metal all are with in guide lines of .999 they are just not near the quality of private minted products. like derryb stated Premiums are made by supply and demand he is dead on. That also goes with everything in life cars, beer, water sports, Bitcoin gold silver in 2011, when the herd follows the lead sheep in anything the premium goes up. There is one year in the Eagles I trying to go through and find it they were in the 2000's there was obviously a bad round of silver made most of the are bordering .999 we had a few the show they are less they can't test them all but anyone that is seriously in to metals or has to test what they buy knows that no surprise. Now the first sigma put out is not good for silver the pro is, cooper consistency is near what silver is and is easily fake this would help explain the Eagles. Now if you have be around silver for a while you can pick the fakes out with a scale, caliper and a calculator it easy to pick them out like the prospector fakes. Here is a picture to so you how copper is so consistent with silver the first metal verifier can not read the difference so is it user error no just the truth and not a big deal just some extra knowledge for you to have. Included below is a reading of a kilo cooper bar and a one once copper first machine calls it silver for people that just stack a career criminal can easily deceive someone like the average joe collector and even some dealers. when we sat down with the secret service the stuff they showed us was so incredible of what these pro criminals can do I was so amazed, the criminals are so good at what they do I just do not understand why they picked the illegal way to do things when they are very smart and gifted people they would have made money staying on the right side of the law. So enjoy stacking your Eagles if you love them just some info for you. Also I am not call the first verifier bad it identifies what is consistent to silver you just have to do the math unlike the pro it reads and measure it for you so it is a good machine you just have to do the extra homework with the first metal verifier that's all.
Interesting
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No anyone that has to buy metals and test metals would know this is basic knowledge in bullion for people that test. All silver eagles are of .999 they are just not of quality of most privately minted silver and fluctuates on every year made. How ever in the 2000's there was one year that was an obvious bad batch most test the line on .999 fine and we have had some under the reading of .999 but you would not know this unless that's what you do daily not a big deal just some useful info nothing more someone the does test a lot would know this but I like others when it came to buying Silver Eagles I just bought them, I just happen to like to play around with test things and stumbled on to this. Using the pro you would have to be a clown to use it wrong not sure how you could after all the years I have used one very simple machine very accurate as well I love it.
Yes all 90% is great is there something you want me to test and post sorry it takes a day or two before I can reply life is fast.
Over 500 million bullion silver eagles have been minted so far, and probably a very small percentage of these have been melted. This represents a potentially huge source of supply if a shortage develops, but it's not likely to be tapped unless prices rise to the point where the premium disappears or goes negative.
My Adolph A. Weinman signature
Old news bit still out there in one form or another.
“Fake Gold Bars Turn Up in Manhattan NYC Breaking News”
That's why you have this scanner if you are buying that much bullion you would not invest $5000 in different equipment instead of going off hugs, kisses love and trust hell I don't trust family members selling to me. Now same thing like the consistency copper with silver as gold with tungsten it has to be measure as well as scanned the first metal verifier only gives you a reading not the proper size it has to be in order to be a real bar, the Sigma Pro does
Like the old saying... paraphrased, “Measure twice before the first cut.”
You are absolutely right and we pass on the bigger bars of gold what is the advantage we say let someone else buy them I would rather have 18 Eagles. But I have seen these dealesr not being honest themselves and buy them at 60% of value so there would be money to be made then if they turned out to be real.
that covers it
The smaller the sample the easier to be fooled I will add testing once copper versus a kilo with measurements. in hand if the details are done right like the prospectors you would never know.
Thanks.....but that was really hard to read.
Knowledge is the enemy of fear
Sorry I should slow down and proof read but I have no time I can only wish for a life of relaxation. The good thing is I will be able to afford a Walnut casket instead of pine on the positive side.
Sigma is junk, bottom line. MANY coins and bars can fool it. Scale, caliper and calculator much more accurate and about 1/50th the cost. lol
The whole worlds off its rocker, buy Gold™.
And experience handling the real McCoy for years...
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Agree. The "eye of the connoisseur" is one of the best counterfeit detection tools,
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
my silver eagle bubble remains fully inflated.
"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