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State Quarter Silver Proof cheaper than junk silver

BearlyHereBearlyHere Posts: 279 ✭✭✭✭

https://monumentmetals.com/90-silver-modern-1-face-value.html

I've ordered these several times and have been sent a roll silver proof state quarters. This per $1 face value is cheaper than any junk silver I've seen both on their site and on others. Since they are proof, they haven't lost any silver from wear.

Highlights of these coins:
These coins are NOT minted 1964 or before. They are modern proof silver issues from the U.S. Mint.
Packaged in vinyl flips for purchases of $1 Face Value. Packaged in convenient tubes for purchases of $10 Face Value and bags for larger quantities.
You may receive all of one denomination of coins or a mixture.

Comments

  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭

    Well, my 6th order came back different...I got 20 of these

  • HigashiyamaHigashiyama Posts: 2,192 ✭✭✭✭✭

    @BearlyHere:

    Wow, that’s a cool way to accumulate silver!

    Higashiyama
  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭

    @dcarr said:

    @BearlyHere said:
    https://monumentmetals.com/90-silver-modern-1-face-value.html

    I've ordered these several times and have been sent a roll silver proof state quarters. This per $1 face value is cheaper than any junk silver I've seen both on their site and on others. Since they are proof, they haven't lost any silver from wear.

    Highlights of these coins:
    These coins are NOT minted 1964 or before. They are modern proof silver issues from the U.S. Mint.
    Packaged in vinyl flips for purchases of $1 Face Value. Packaged in convenient tubes for purchases of $10 Face Value and bags for larger quantities.
    You may receive all of one denomination of coins or a mixture.

    .

    Post-1964 90% silver proof coin, minted from 1992 to present, is a pretty good deal. No loss of metal from circulation, as you pointed out. But there is one aspect of it to be a little bit wary of.

    1964 and earlier coinage can be verified as to the silver content by the date and the overall authenticity of the coins.

    However, all of the 1992 and newer S-mint proof dimes, quarters, and halfs exist in both the silver and copper-nickel clad versions. If a 1992 or later copper-nickel clad proof was silver-plated, there would be no visible way to tell it apart from a genuine 90% silver version. A thin plating of silver would not generally affect the proof finish at all. Testing would be required to verify the content. Fortunately, the 90% silver coins weigh 25 grams per $1 face value and the copper-nickel clad coins weigh 22.5 to 23.0 grams per $1 face value. So that is a simple method for testing (but a tedious task for a lot of coins).

    No such issue with the 1982 Washington half dollars since they were only minted in 90% silver.

    .

    If I was buying from Ebay, I would be more circumspect. But I have been regularly purchasing bullion from Monument Metals since Feb. 2021. I don't think they would risk their business to save a few bucks. If you read their reviews, the only knocks against them are for lost or delayed orders. None are for poor quality or false advertisement. My only issue with them is that sometimes they combine my orders which increases the shipment over $1000, which forces me to sign for them.

  • dcarrdcarr Posts: 8,510 ✭✭✭✭✭

    @BearlyHere said:

    @dcarr said:

    @BearlyHere said:
    https://monumentmetals.com/90-silver-modern-1-face-value.html

    I've ordered these several times and have been sent a roll silver proof state quarters. This per $1 face value is cheaper than any junk silver I've seen both on their site and on others. Since they are proof, they haven't lost any silver from wear.

    Highlights of these coins:
    These coins are NOT minted 1964 or before. They are modern proof silver issues from the U.S. Mint.
    Packaged in vinyl flips for purchases of $1 Face Value. Packaged in convenient tubes for purchases of $10 Face Value and bags for larger quantities.
    You may receive all of one denomination of coins or a mixture.

    .

    Post-1964 90% silver proof coin, minted from 1992 to present, is a pretty good deal. No loss of metal from circulation, as you pointed out. But there is one aspect of it to be a little bit wary of.

    1964 and earlier coinage can be verified as to the silver content by the date and the overall authenticity of the coins.

    However, all of the 1992 and newer S-mint proof dimes, quarters, and halfs exist in both the silver and copper-nickel clad versions. If a 1992 or later copper-nickel clad proof was silver-plated, there would be no visible way to tell it apart from a genuine 90% silver version. A thin plating of silver would not generally affect the proof finish at all. Testing would be required to verify the content. Fortunately, the 90% silver coins weigh 25 grams per $1 face value and the copper-nickel clad coins weigh 22.5 to 23.0 grams per $1 face value. So that is a simple method for testing (but a tedious task for a lot of coins).

    No such issue with the 1982 Washington half dollars since they were only minted in 90% silver.

    .

    If I was buying from Ebay, I would be more circumspect. But I have been regularly purchasing bullion from Monument Metals since Feb. 2021. I don't think they would risk their business to save a few bucks. If you read their reviews, the only knocks against them are for lost or delayed orders. None are for poor quality or false advertisement. My only issue with them is that sometimes they combine my orders which increases the shipment over $1000, which forces me to sign for them.

    It is unlikely, but any dealer is susceptible to buying plated silver and unknowingly re-selling it as 90% silver.

  • inkdiverinkdiver Posts: 55 ✭✭✭

    I'd buy those.

  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭

    Back to proof state and atb quarters the last 2 orders

  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭
    edited July 21, 2023 6:52AM

    By the way, if you didn't already know, the mint has only made 2 modern (since the 50s) half dollar commemorative coins in 90% silver. The first modern commemorative was the Washington

    and Madison

    All the rest are clad.

  • HigashiyamaHigashiyama Posts: 2,192 ✭✭✭✭✭

    I had forgotten that the 1993 Madison was silver. If it had been a quiz question, I would have failed that one.

    Higashiyama
  • JimTylerJimTyler Posts: 3,433 ✭✭✭✭✭

    If their sell price is so great their buy price makes up for it.

  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭

    They are 90% proof coins being sold per $1 face value for $2 less than circulated pre 65s.

  • jmski52jmski52 Posts: 22,896 ✭✭✭✭✭

    What year did the silver coins in silver proof sets become .999? I recollect that it was a few years ago, maybe 4 or 5?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭

    Yep, 2020

  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭
    edited May 11, 2024 4:15PM

    duplicate

  • MsMorrisineMsMorrisine Posts: 33,230 ✭✭✭✭✭

    certainly won't be near slick either

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • meluaufeetmeluaufeet Posts: 764 ✭✭✭

    @BearlyHere
    Thanks for the heads up. Didnt use the link but noticed you can buy a full roll of one State for $260 at ebay. Mahalo

  • dcarrdcarr Posts: 8,510 ✭✭✭✭✭

    Nothing wrong with modern .900 silver or .999 silver proof coinage.
    But be aware that for pre-1964 90% silver coin, all you have to check is the date.
    It is possible to take modern copper-nickel clad proofs and put a light silver plating on them to mimic the .900 or .999 silver versions.

  • meluaufeetmeluaufeet Posts: 764 ✭✭✭

    @dcarr
    Have you seen a clad state quarter, silver plated? NO doubt I trust your knowledge. It wasn't a bullion purchase for me, just something I like. I don't think it would fool me, so its an interesting topic.

  • CoinHoarderCoinHoarder Posts: 2,589 ✭✭✭✭✭

    Only problem is, unless the coins are in the original OGP, the uneducated won't be able to determine by look, whether a S mint marked state quarter is clad, or silver.

    At least with pre 1964 silver, it is readily identifiable.

  • meluaufeetmeluaufeet Posts: 764 ✭✭✭

    These things tend tone in the red OGP. They may have some collector premium in the future, and they are full weight. Unless as dcarr said they can mimic, using silver plating on a proof clad (which seems price prohibited), and it doesn't weigh the same.

    As far as the uneducated, they must exist because they are buying fake gold bars, fake silver eagles, fake morgans etc. So that point is true and well taken. I do like to give our silver state quarter to younger people who are interested, and they always light up. It's worth the $6.50ish just to see it.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,360 ✭✭✭✭✭

    Silver discounted is silver , just the same.

  • WCCWCC Posts: 2,610 ✭✭✭✭✭

    Another poster pointed me to this thread.

    I can't explain why silver proofs will ever sell for less than "junk" US coin silver but it's not surprising that these are sometimes treated as bullion and not collectibles.

    It's because the collector preference is really low, and supply is far above collector demand. The mintages are absolutely huge, even with a 70%+ decline since around the end of the SQ program. The most recent data I've seen is for 2022 with about 300,000, but that's not even close to actually low.

    Decades from now, I expect the same outcome for older sets (1964 and earlier) too, even where the coin is of better quality.

  • BochimanBochiman Posts: 25,400 ✭✭✭✭✭

    @CoinHoarder said:
    Only problem is, unless the coins are in the original OGP, the uneducated won't be able to determine by look, whether a S mint marked state quarter is clad, or silver.

    At least with pre 1964 silver, it is readily identifiable.

    Unless something has changed in the last few years since I've stopped purchasing these, the OGP was able to be popped open and closed again. So that means nothing about what is inside the packaging. They weren't/aren't actually sealed like the PCGS/NGC/etc slabs.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    golden eagle coins puts these on sale at various times

  • jmski52jmski52 Posts: 22,896 ✭✭✭✭✭

    golden eagle coins puts these on sale at various times

    If these are reverting to bullion, I wonder if any of them will experience enough attrition to become "rare" or otherwise collectible?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • VanHalenVanHalen Posts: 4,026 ✭✭✭✭✭

    @jmski52 said:
    golden eagle coins puts these on sale at various times

    If these are reverting to bullion, I wonder if any of them will experience enough attrition to become "rare" or otherwise collectible?

    Unlikely. Maybe a PR70DCAM in a top tier holder but raw? Bullion.

  • Thanks, I'll look out for these.

  • JBKJBK Posts: 15,675 ✭✭✭✭✭

    @meluaufeet said:
    @dcarr
    Have you seen a clad state quarter, silver plated? NO doubt I trust your knowledge. It wasn't a bullion purchase for me, just something I like. I don't think it would fool me, so its an interesting topic.

    They've definitely been plated in platinum and I suspect silver as well. (And, of course, gold).

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    @VanHalen said:

    @jmski52 said:
    golden eagle coins puts these on sale at various times

    If these are reverting to bullion, I wonder if any of them will experience enough attrition to become "rare" or otherwise collectible?

    Unlikely. Maybe a PR70DCAM in a top tier holder but raw? Bullion.

    do people still buy PR70DCam garbage?

    I'm still waiting for the blue 1964 jefferson nickles I'm sitting on to go to the moon

  • VanHalenVanHalen Posts: 4,026 ✭✭✭✭✭

    @bronco2078 said:

    @VanHalen said:

    @jmski52 said:
    golden eagle coins puts these on sale at various times

    If these are reverting to bullion, I wonder if any of them will experience enough attrition to become "rare" or otherwise collectible?

    Unlikely. Maybe a PR70DCAM in a top tier holder but raw? Bullion.

    do people still buy PR70DCam garbage?

    I'm still waiting for the blue 1964 jefferson nickles I'm sitting on to go to the moon

    Yes - U.S. moderns, particularly 20th century pieces, are in high demand in PR70DCAM.

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    I ordered 2 from golden eagle coins as a goof and they showed up today.
    I paid 27 each I'll put them in my antique booth and see if there is any interest

  • CoinHoarderCoinHoarder Posts: 2,589 ✭✭✭✭✭

    Will dealers buy these 90% silver Statehood and 90% silver America the Beautiful quarters, for the same price they would pay for circulated 90% junk silver?

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    mine are not selling :D

  • CrustyCrusty Posts: 1,122 ✭✭✭✭✭

    My LCS buys them and sells them at the same price as junk silver.

  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭

    The nice part is they are full weight because there is no wear. They are still generally selling for the same price or cheaper at Monument Metals. Occasionally they're higher when the junk is on special sale.

  • BearlyHereBearlyHere Posts: 279 ✭✭✭✭

    If you're conerned about plated coins, all you need is a rare earth magnet to tell if they're silver.

  • Au100Au100 Posts: 22 ✭✭

    I like the 90% silver quarter state quarter designs and chiefly their fractional component. The 999 quarters look appealing minus their current premiums and ugly woke women designs…if I could melt them I would but that would defeat making them fractional coins. ha!

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