Update: Would you or would you not? buying ASE

Ppp

Silver eagle premiums from a historical perspective is high and I think it is a great thing.

My problem is my primary stash which was acquired at much lower premiums, is preventing me from buying new stock. I know it’s a mental thing probably because I am old.

Example, right now I can buy 60 silver eagles (all type 1) 20 of which has some toning for $36- ea.

Should I or should I not? Would you do it?

Thank you in advance for your thoughts. 🙂

ricko

That is not a lot I would buy, but the price is not terrible. If silver takes a jump this year, it could be a good deal. Cheers, RickO

Crusty

I say pass… I got out of the silver game long ago… Got tired of hearing it’s going to the moon! When you go to sell you’ll need to sell privately now to recoup the premium. Selling on eBay after fees and Tax man will eat up premiums quick. Dealers certainly won’t pay you your premiums back. It’s only a matter of time before silver premiums go back to normal. If your going to buy silver just buy the lowest premium silver available. I know it’s all high now… so have patience.

derryb

buy quality silver with a lower premium. ASEs have the highest. When ASE premiums were competitive with other products I was among those who promoted ASEs as the best choice and current premiums prove this as having been correct. However there has been a shift in the premium paradigm and one must go with the flow and adapt one's thinking. More profit will prevail in lower premium silver. If ASE premiums continue their march upward they will float all premium boats.

Broadstruck

No... You're better off stockpiling 60 gallons of milk right now than ASE's.

coinandcurrency242

No thanks! I have a couple ASE, but that is enough for me.

silverpop

ASE's never got my notice so i never buy them if i want silver then i'll buy silver dimes and dollars

FrankH

Ever see a report on a nation's SILVER reserves ?

GOLD is the international money metal!

I learned that long ago. The swings and ping pong premiums on ..... ... silver aren't worth messing with.

Batman23

I'm still wanting a couple rolls of ASEs at spot+10%. Even though I don't even find them available for Spot+20%, your Spot+40% just does not seem right. But what do I know, I've never bought a roll of ASEs before... Maybe I have the wrong expectations about what Spot means...

MasonG

@Ppp said:
Example, right now I can buy 60 silver eagles (all type 1) 20 of which has some toning for $36- ea.

Right now, if you wanted to buy 60 silver eagles (BU, random year) from Apmex, the best price you could get them for is $41.29 ea.

Should I or should I not?

You're the only one who can answer that question.

lkenefic

I stopped stacking ASE's around the early 2010's. I sold everything when silver hit over $30/oz. I have one in my Type Set, but that's it. I don't get a lot of pleasure in collecting them, and my money is better spent elsewhere. Unless silver drops to below $15/oz, I'll likely not collect them in the future...

Jzyskowski1

@FrankH said:
Ever see a report on a nation's SILVER reserves ?

GOLD is the international money metal!

I learned that long ago. The swings and ping pong premiums on ..... ... silver aren't worth messing with.

Well then what does a poor boy do if silver is all he can afford. Is gold the only game that has value? 😉🙀🦫

 The silver I’m sitting on that cost 💲 10 an ounce seems ok to me. 

Swampboy

FWIW $37 - $37.50 is what everyone was asking for ASEs at a NW coin show last weekend. I know because I was after a 2021 T1 to finish out my Dansco.
I found one but I'm done collecting them now since that T2 reverse doesn't do the classic obverse justice IMO.
I couldn't resist a $37.50 '99 upgrade however 😅

Edit to say - to answer the OP's question no I wouldn't buy any ASEs to stack right now. As mentioned, the premium for this bullion option is currently just too far out of whack.

Downtown1974

I suppose if I was building a set or filling a Dansco, a $10 premium for an ASE wouldn’t be a deal breaker for me. At least I would get pleasure out of it. For stacking however? No way am I paying $10 over.

Downtown1974

@Jzyskowski1 said:

Well then what does a poor boy do if silver is all he can afford. Is gold the only game that has value? 😉🙀🦫

The silver I’m sitting on that cost 💲 10 an ounce seems ok to me.

You could always convert your silver to gold.

vplite99

Some 20 years ago I bought a ton (not literally) of milk-spotted ASEs paying spot. I'm selling them now for a substantial premium. The spots have turned into tarnish, some colorful.

I would not buy ASEs for the current premium, but I have often been wrong.

GRANDAM

@Broadstruck said:
No... You're better off stockpiling 60 gallons of milk right now than ASE's.

or 60 gallons of gasoline or 60 loafs of bread,,,,,,,,,,,,,, you will also need 60 gallons of wine to enable you to forget all your problems,,,,,,,,,,,,,

Ppp

Thank you to everyone who posted comments.

I agreed to the following trade with the seller: six tenth-ounce gold eagles for 46.5 toz of silver (45 are eagles).
I think this is a fair trade considering the gsa is about 77, therefore 0.6 toz of gold equals about 46.2 toz of silver. Suppose to pick up later today.

Ppp

Oops, I meant gsr not gsa. Dam auto correct. 🙂

CoinHoarder

Due to the current high premiums on silver eagles, I am NOT buying. I am satisfied with what I currently own that I obtained at much lower prices.

There is one exception. if I can pickup a certified silver Eagle for between $35. and $40, I will so.

I picked this one up for $35. At my LCS a month or two ago.