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Tuesday's (9/23) Search for silver

rah1959rah1959 Posts: 964 ✭
in Precious Metals
Had to take the cat to the Vet as well as myself to the Dentist.

damn medical bills!


Was able to stop at 2 B&Ms looking for some silver.

Stop # 1: No rounds or bars of any size. This shop had a shoebox half full of cull, damaged, cleaned, worn 90% silver coins....at 12.5 x face purchase price. Had a few common date ASE for $19 each

Stop #2: This shop had no name brand rounds or bars of any size. Had maybe half a dozen of generic Christmas/holiday sytle 1oz rounds. They were $2.50 over spot. Fair amount of 90% coins in $100, $250 face bags. 12x face I believe. They had ASEs for $18 each for common dates and 2008. They also had some Presidential medals in silver, Medallic Art type...but way over price in my opinion. Many times I can get this stuff at near spot....but these were priced 3-5x spot. Perhaps they were some consignment pieces as I had not seen them before.

I bought nothing.....Vet and Dentist took my funds...plus...I have been a HEAVY buyer the last 6 weeks....and now watching the prices a bit.

I still think silver is a great buy at today's level....just out of funds...and can't find any bars priced right. image

RAH

Comments

  • 57loaded57loaded Posts: 4,967 ✭✭✭
    do you drive or the cat?

    j/k

    i was in a B/M yesterday

    i picked up some junk in his closeout bin 90% for 9x and treated myself to a SF Mint Commemorative
    cull 90% dollars were $13 ea, maybe i should go back and buy them?
  • DeadhorseDeadhorse Posts: 3,720 ✭
    OK, I'll bite.

    What's a 90% dollar?

    Silver Dollars aren't 90% silver coinage.

    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • OverdateOverdate Posts: 7,016 ✭✭✭✭✭
    Morgan and Peace dollars are 90% silver, but each dollar has a bit more silver (and other metal) than two halves, four quarters or ten dimes.

    A Morgan or Peace dollar contains about .7734 ounces of silver, smaller 90% silver coins contain about .7234 ounces of silver per $1.00 face value.

    My Adolph A. Weinman signature :)

  • konsolekonsole Posts: 795 ✭✭✭


    << <i>OK, I'll bite.

    What's a 90% dollar?

    Silver Dollars aren't 90% silver coinage. >>



    lolz sarcasm?

    hard to tell
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Hey Richard, man the cat took your silver spending money! You have been a big buyer in the last few weeks........now with you out for a little bit, more silver might be available to common guys like me imageimage j/k

    ASEs are 17.

    2008 ASES are 20

    Mexican Onzas are 15.25

    some plain generic silver rounds, they look like poker chips, Back is plain, front just says 999 silver 1 troy ounce. Those are 14.25. Are those worth buying??? Silver round is a silver round right guys???

    Mike
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>

    << <i>OK, I'll bite.

    What's a 90% dollar?

    Silver Dollars aren't 90% silver coinage. >>



    lolz sarcasm?

    hard to tell >>



    No, not sarcasm.

    Silver Dollars aren't considered 90% melt coins.

    They are in an entire different category.

    Frankly, I've never heard the term "90% dollar" before now.

    I was willing to learn if there was something I had missed in silver school.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • KipKip Posts: 852
    I can find no silver or gold in my town of 200,000image
    UCSB Electrical Engineering....... USCG and NASA
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>I can find no silver or gold in my town of 200,000image >>



    That doesn't surprise me, shouldn't surprise many.

    There is little to no silver in my metro area of 8+ million, save for ASEs and the few of them are way overpriced.

    Gold is available but even that is becoming scarcer.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>OK, I'll bite.

    What's a 90% dollar?

    Silver Dollars aren't 90% silver coinage. >>



    you're right my bad
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>

    << <i>OK, I'll bite.

    What's a 90% dollar?

    Silver Dollars aren't 90% silver coinage. >>



    you're right my bad >>



    No biggie. You just threw me off with that phrase.

    I was curious.

    OTOH, I will gladly pay melt price to any posters who want to sell me their Silver Dollars.

    The only ones I've bought at that rate were holed coins and worn slugs.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    i am rarely "all here"

    aren't peace and morgans 90% silver?

  • jmski52jmski52 Posts: 22,897 ✭✭✭✭✭
    aren't peace and morgans 90% silver?

    Yes, they are - and some folks on the "other forum" even consider these pieces to be "coins". Some people even pay a premium for these things.

    The confusion lies in the fact that a 90% silver dollar composition contains more than twice as much silver (.77344 oz.) than a 90% silver half dollar (.36169 oz.).

    So, you can't calculate "melt" for a 90% silver dollar by doubling the silver melt price for (2) half dollars.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>aren't peace and morgans 90% silver?

    Yes, they are - and some folks on the "other forum" even consider these pieces to be "coins". Some people even pay a premium for these things.

    The confusion lies in the fact that a 90% silver dollar composition contains more than twice as much silver (.77344 oz.) than a 90% silver half dollar (.36169 oz.).

    So, you can't calculate "melt" for a 90% silver dollar by doubling the silver melt price for (2) half dollars. >>



    image
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>aren't peace and morgans 90% silver?

    Yes, they are - and some folks on the "other forum" even consider these pieces to be "coins". Some people even pay a premium for these things.

    The confusion lies in the fact that a 90% silver dollar composition contains more than twice as much silver (.77344 oz.) than a 90% silver half dollar (.36169 oz.).

    So, you can't calculate "melt" for a 90% silver dollar by doubling the silver melt price for (2) half dollars. >>





    You beat me to it, but that's about as concise an explanation as one can put it.

    Silver Dollars always command a premium, just becasue they are Silver Dollars moreso than the silver content factor.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • OverdateOverdate Posts: 7,016 ✭✭✭✭✭
    Silver Dollars aren't considered 90% melt coins.

    They're valued more highly for melt purposes than lower-denomination silver coins, but tons of silver dollars were melted in the 1979-80 silver spike. And they weren't all culls either.

    My Adolph A. Weinman signature :)

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