ASE vs 90% Silver (Junk Silver)

Planchet

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

SilverEagles92

90% silver at the moment.

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%.

mkman123

hmmm tough one, I'd probably get 90%. I would have to say more people know about 90% silver than ASEs. There are some people that look at one and say, "what is that?" "Is it silver"? etc. For 90% many lay people know about it. Also 90% is available sometimes in spare change, can't find eagles in spare change. I've told people in my church to keep an eye out for pre 1964 coinage and to let me know if they get it. So now they know what to look for, as for ASEs, I haven't told them anything about it and doubt any know about it.

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.

gsa1fan

I think like SilverEagles92.

Given his forum name I'm surprised at his view.

Planchet

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.

Weiss

Personally, I have little interest in eagles. I own maybe a couple of unc rolls and some proofs.

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

mkman123

planchet, thats hard because I would try to sell half and half. I wouldn't try and sell all the eagles and wouldn't try and sell all the 90%. I'd like to have a little of both around in case of emergency. If it came down to one or the other, I might sell the 90%???? I can buy them back at a later date for not much more if silver spot didn't go up or down too much. If I was to later want some ASEs back, it could cost more due to the premium tacked onto them but that depends on silver spot.

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.

SilverEagles92

<< <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.

Justacommeman

bags of junk silver

one bag for everyone living in the house

I'm old school : )

MJ

Kameo

<< <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.

meluaufeet

Right now, I would buy silver proof state quarters @ spot before junk... of course I'm probably alone in this regard. It takes more patience and more transactions, but thats ok with me. I generally will look for lots or tubes. I must say however, it seemed easier to find what I was looking for a few months ago. I'll probably consider the silver proof territories sometime next late spring or summer.

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".

dimples

What is considered spot or under spot on 90% silver? I often hear 10x, 11x, 12x ect... I don't get how that works.



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.

gsa1fan

Multiply .715 times the current spot price.............. That will give you current 90% worth.

$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/

OPA

Sure, you can get 90% junk silver at or below spot .... but the same will hold true when you try to sell your "junk."

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.