Advice about swapping silver bullion for morgan and peace dollars
Jsayre
Posts: 227 ✭✭
If I had about 40 10oz. silver bars and wanted to trade them for the equivalent in morgan and peace dollars how many silver dollars should I expect? I am not looking for BU or even AU coins just readable dates. What would be the best way to structure the deal ASW to ASW, or spot price to spot price, Etc? Is this even feasible? Thanks for any help.
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Comments
Take your 400 ounces divide by .77 will net you around 520 morgans.
Silver bars seem to fetch around 3 to 5 dollars over spot.
Morgans seem to fetch around the same. Others may disagree but Morgans
are selling for around 13 to 14 dollars at the present time. With a melt value of 8.69
If it were my bars. I would trade 200 ounces for 270 morgans. Diversify some.
It's more fun looking at a bunch of 100 year old coinage than a bunch of door stops..
Plus, if your in a financial bind. It would be easier unloading a certain amount
of Morgans to relieve your needs. Than it would 10 ounces at a time.
The premium on bars may drop in the near future. I remember early last year buying
all I needed for .50 over spot.. They aren't making Morgans any longer...
Do what makes you happy. It will be a wash either way
<< <i>This is exactly why I want to do this! I would rather have a bag of silver dollars than a box of silver blocks. >>
Just remember the ratio and you should do fine. I would try and get as close to UNC as I could find.
Make an offer on our BST board. There are guys who would make the trade. Post the name or pics of the
bars. If you have JM bars I would demand higher ratio for the Morgans. JM bars usually command a higher premium.
Good luck to ya....
<< <i>JM bars usually command a higher premium. >>
So do many of the older style poured Engelhard bars.
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
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<< <i>Keep some silver bullion and have some morgans. You'll be happy both ways. >>
agree with the thought of some variety in the spice of silver.
what are your plans?
why not have some of both? if we begin to barter silver and gold for services, you would consider some morgans or whatever as "pocket change" more than your bars, but then again you might be able to get a better exchange rate then vs now for your silver bar to junk silver/silver dollar, i don't know, others would.
<< <i>Plus, if your in a financial bind. It would be easier unloading a certain amount
of Morgans to relieve your needs. Than it would 10 ounces at a time. >>
I don't believe it. The 10 oz bars should be easier to sell if they are from a known refiner.
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
<< <i>This is exactly why I want to do this! I would rather have a bag of silver dollars than a box of silver blocks. >>
I couldn't have said it better
In honor of the memory of Cpl. Michael E. Thompson
but I don't think they'll be many takers
<< <i>I too would like to trade Silver maples leaves for silver dollar spot for spot
but I don't think they'll be many takers >>
Agreed. Maybe coin for coin, but only an idiot would trade spot for spot.
Knowledge is the enemy of fear
than you started with and might increase in the future. There's lots
of great stuff that trades at a discount to silver or little premium.
You can even get nice XF+ mercs at a discount and end up with more
silver.
Eventually the mercs will have a premium and the bars a discount.
Then you can trade back.
This might be a very long term plan though.