Is premium silver worth the extra money?

BearlyHere

Two schools of thought:
Silver Eagles and premium bars get a greater return when sold.
Buy generic and get more ozt for your money.
I tend to buy generic (occasionally spending a little more for a unique or desirable design). But my challenge to the community is this...
In 1980 and 2011 when people were lined up to sell their silver, did the coin stores pay more for premium?
The answer is NO.

derryb

Silver eagles, RCM bars sell for more because the buyer is willing to pay the premium just as the seller was. Considering that there is normally no loss on premiums paid one has better luck selling these products because the buyer pool is much larger.

Crusty

Stay away from all premium silver. It all melts the same. Harder to get the premium back out as prices get higher. There are typically bigger spreads at LCS’s on the higher premium stuff. Constitutional silver is best in my opinion. Low premium and very easy to sell.

BearlyHere

@Crusty said:
Stay away from all premium silver. It all melts the same. Harder to get the premium back out as prices get higher. There are typically bigger spreads at LCS’s on the higher premium stuff. Constitutional silver is best in my opinion. Low premium and very easy to sell.

Be sure to see this thread: https://forums.collectors.com/discussion/1092898/state-quarter-silver-proof-cheaper-than-junk-silver#latest

rte592

The Right Answer is buy Boutique/Premium silver at generic silver price and sell accordingly.

Wingsrule

.

asheland

At the shop I work at, I always recommend people buy the generic silver for the cheapest price.

The only time I recommend the Eagle is on gold…

Wingsrule

Double post

Jinx86

@asheland said:
At the shop I work at, I always recommend people buy the generic silver for the cheapest price.

The only time I recommend the Eagle is on gold…

For gold I tend to recommend Canadian Maples. Just as liquid as eagles and no duty tax if you take 9999 to Canada. Which is a bonus with us being close to the border.

tincup

For me, it depends on how you define 'premium' silver. I tend to rate silver into 3 categories. 'Premium' is the stuff that some buy at very large premiums; things like runes, zombies, silver bullets, Harry Potter, all similar gimmicks. Not for me.

At the low end, there is generic silver, with lots of different designs, but I tend to stay away because much is not identified as the source etc. Not necessarily an issue if selling to a dealer familiar with such silver and can test them if needed, but can be an issue to some as to purity, whether all silver, etc.

I prefer the in-between category... silver rounds/bars that are well known and easily identified. There are higher premiums than generic... but not that hard to get some good deals from time to time. Nothing wrong with Philharmonics, Britainias, Perth mints, etc.

And constitutional silver.... is a great way to accumulate silver. A known quality and standard of purity; easily recognized, etc.

OnlyGoldIsMoney

I think it is worth the extra cost to purchase interesting items.

BearlyHere

@rte592 said:
The Right Answer is buy Boutique/Premium silver at generic silver price and sell accordingly.

Nice if you can get it.

BearlyHere

@tincup said:
For me, it depends on how you define 'premium' silver. I tend to rate silver into 3 categories. 'Premium' is the stuff that some buy at very large premiums; things like runes, zombies, silver bullets, Harry Potter, all similar gimmicks. Not for me.

At the low end, there is generic silver, with lots of different designs, but I tend to stay away because much is not identified as the source etc. Not necessarily an issue if selling to a dealer familiar with such silver and can test them if needed, but can be an issue to some as to purity, whether all silver, etc.

I prefer the in-between category... silver rounds/bars that are well known and easily identified. There are higher premiums than generic... but not that hard to get some good deals from time to time. Nothing wrong with Philharmonics, Britainias, Perth mints, etc.

And constitutional silver.... is a great way to accumulate silver. A known quality and standard of purity; easily recognized, etc.

Monument Metals sells off quality minted coins for prices very close to their cheapest generics (and frequently they are the cheapest). The neat part is they usually don't have off quality and they will fill your order with perfectly good maples or other mints. I recently got 2 orders from the with Nuie Darth Vader coins:

https://monumentmetals.com/cull-silver-government-minted-round-random-mint-and-date.html

BearlyHere

@OnlyGoldIsMoney said:
I think it is worth the extra cost to purchase interesting items.

As long as you are willing to eat the premium if you decide to sell in a skyrocketing market. Personally I'm not, but then again, I won't sell, I'll trade for gold.

tincup

@BearlyHere said:

@tincup said:
For me, it depends on how you define 'premium' silver. I tend to rate silver into 3 categories. 'Premium' is the stuff that some buy at very large premiums; things like runes, zombies, silver bullets, Harry Potter, all similar gimmicks. Not for me.

At the low end, there is generic silver, with lots of different designs, but I tend to stay away because much is not identified as the source etc. Not necessarily an issue if selling to a dealer familiar with such silver and can test them if needed, but can be an issue to some as to purity, whether all silver, etc.

I prefer the in-between category... silver rounds/bars that are well known and easily identified. There are higher premiums than generic... but not that hard to get some good deals from time to time. Nothing wrong with Philharmonics, Britainias, Perth mints, etc.

And constitutional silver.... is a great way to accumulate silver. A known quality and standard of purity; easily recognized, etc.

Monument Metals sells off quality minted coins for prices very close to their cheapest generics (and frequently they are the cheapest). The neat part is they usually don't have off quality and they will fill your order with perfectly good maples or other mints. I recently got 2 orders from the with Nuie Darth Vader coins:

https://monumentmetals.com/cull-silver-government-minted-round-random-mint-and-date.html

Exactly what I was referring to! Monument Metals has those good deals from time to time!

MrEureka

If the plan is to hold tight until metals spike higher and then dump it all, zero premium stuff is best. But if you're a long term holder and are willing to trade in and out to take advantage of changes in the market, it makes sense to buy better stuff when premiums are low, and then replace it with something more junky when premiums move higher on the better stuff. Considering how volatile premiums can be, that approach can be very rewarding.

Ag100

I’ve done both really. But junk is so much more fun with the numismatic designs, etc. Years ago I would have said ASE’s and moderns, now I’m all in for junk. Junk is not junk! LoL!