ASE vs 90% Silver (Junk Silver)
Planchet
Posts: 294
A question. If you were a resident of the United States and wanted to Buy silver but were limited to one type of silver from your local B&M would it be American Silver Eagles or 90% Pre 1964 Silver Coins? Once you have an answer, why?
If you had decided to sell part of your silver and you had to pick between selling American Silver Eagles or 90% Pre 1964 Silver Coins which would you choose and why?
A copy of facts that may or may not influence your decision. Today's Buy/Sell spread at the local B&M is Sell Junk Silver 12 x face and buy ay 10.5 x face. Sell ASE's at $2.25 over spot, buy at $1 over spot.
Thanks
Planchet
If you had decided to sell part of your silver and you had to pick between selling American Silver Eagles or 90% Pre 1964 Silver Coins which would you choose and why?
A copy of facts that may or may not influence your decision. Today's Buy/Sell spread at the local B&M is Sell Junk Silver 12 x face and buy ay 10.5 x face. Sell ASE's at $2.25 over spot, buy at $1 over spot.
Thanks
Planchet
0
Comments
ASEs are still selling for a hefty premium per coin, especially in a retail setting.
90% silver is selling on the BST for UNDER spot price, or at least it was two or three days ago.
For that simple reason, I'd buy 90%.
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I'd like to hear others response to this. I like ASEs as well and if the option was to get both I would choose it but you said choose only one so I chose the one that most people are familiar with.
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Given his forum name I'm surprised at his view.
Planchet
Edit: The buy sell spread at the Local B&M is Sell 90% at 12 x face, Buy at 10.5% face or roughtly a 15% spread and Sell ASE at $2.25 over spot and buy at 1.00 over spot, roughtly a 15% spread also.
I've given the reasons I think 90% is the ultimate physical silver option several times, so a short list instead of a diatribe:
a. recognized form
b. recognized purity
c. divisible
d. face value
e. low premium
f. low risk of counterfeit
--Severian the Lame
90% you can find at a small premium and in some cases on the BST you can get it for spot or below. However, if silver spot goes up, 90% lags behind.
Silver eagles -higher premium but you can sell it for a higher premium than normal bullion. If silver goes up, so does eagles. If spot goes down, eagles don't take too much of a hit.
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<< <i>SilverEagles92 and Mkman, I have read your "Buy" thoughts, Do you have an opinion on what you would do if you had decided to sell part of your silver and you had to pick between selling all of your American Silver Eagles or all of your 90% Pre 1964 Silver Coins which would you choose and why?
Planchet
Edit: The buy sell spread at the Local B&M is Sell 90% at 12 x face, Buy at 10.5% face or roughtly a 15% spread and Sell ASE at $2.25 over spot and buy at 1.00 over spot, roughtly a 15% spread also. >>
I wouldn't buy 90% from them because, as I said, you can find it cheaper elsewhere online, including shipping.
As fas as which I would sell? It depends on why I'm selling, but if there was an emergency and I needed to get rid of some, I'd get rid of 90% as well. The silver spot price has been going down lately, so the value of 90% goes down just as quickly. ASEs are not as tightly tied to the spot price like 90% silver is, at least in my experience. My think is much the same as Mike's - If silver goes down, you don't lose as much money on ASEs since the premium still remains. You have more room to wiggle.
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one bag for everyone living in the house
I'm old school : )
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
90% silver is selling on the BST for UNDER spot price, or at least it was two or three days ago. >>
What is considered spot or under spot on 90% silver? I often hear 10x, 11x, 12x ect... I don't get how that works.
If I had to sell... I would sell what the buyer wants... period.
I'm done buying junk... I'm with mj... "a bag for everyone in the house".
Check out coinflation.com. It will show you the silver value per coin based on the price of silver at that moment.
Example: silvers at $17.00 Silver quarter may be worth $3.05 or 12X face.
Hope this helps.
$17 silver spot price X's .715 = $12.155 So a dollars worth of 90% is worth $12.15
12.1X's face
This site will do work for you. Scroll to bottom of page.
http://www.carlscoins.com/
ASE's, historically, always had a premium attached to them, when buying or selling ... I'd go with the ASE's @ spot + $2.00 - $2.50 per coin.