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Curious as to why 90% is suddenly the silver of choice?

tydyetydye Posts: 3,894 ✭✭✭
in Precious Metals
Maybe I just was not paying attention but to me it seems like more and more people want 90% over other forms.

Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    No premiums or less than spot prices. Best bang for the buck.
    Avid collector of GSA's.
  • 78750Aggie78750Aggie Posts: 417 ✭✭
    I prefer USA 90% coinage because it's highly recognizable, easier to unload, and there is always the posibility of finding a 1928 Peace in a stack of 1923's... image
    Aggie
  • bestmrbestmr Posts: 1,777 ✭✭✭
    I like them because of the sound they make when you drop them on the table. image But also, it's like holding a piece of history.
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  • tydyetydye Posts: 3,894 ✭✭✭
    I do love that sound as well. At Thanksgiving we have a poker tournament at my house . For years I kept a bag of 90% around for playing (morgans, walkers, standing libs) This last year I went out and bought a fancy poker set. Was not the same - everyone wanted the 90%
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I find poker is not the same playing with chips.
    Avid collector of GSA's.
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭


    << <i>No premiums or less than spot prices. Best bang for the buck. >>



    But when it's time to sell won't that mean LESS bang for the buck? ! ? !

    HH
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
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    Any help locating any of these OBW rolls would be gratefully appreciated!
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>

    << <i>No premiums or less than spot prices. Best bang for the buck. >>



    But when it's time to sell won't that mean LESS bang for the buck? ! ? !

    HH >>



    Consider this scenario:

    You have $1,000. That $1,000 will buy:

    48 silver eagles @ $21 each ($1008) = 48 ounces

    or

    $80 face 90% (12.5x face) 80x.715= 57.2 ounces

    Silver goes from ~$18.50 an ounce to say $23 an ounce and you go to sell.

    Dealer buys your eagles at $1 over spot (if you're lucky). $24 x 48 = $1152

    Dealer buys your 90% at melt (if you're lucky). $23x57.2 = $1315.60 ($163.60 more than the eagles)

    Or maybe 10% back of melt if you're really unlucky: $20.7x57.2 = $1184.04 ($32.04 more than the eagles)

    So even at a 10% discount, you're still making more $$ with the 90%.

    Any dealers out there care to comment on the 10% discount? Too much? Too little? About right?

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
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  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>

    << <i>

    << <i>No premiums or less than spot prices. Best bang for the buck. >>



    But when it's time to sell won't that mean LESS bang for the buck? ! ? !

    HH >>



    Consider this scenario:

    You have $1,000. That $1,000 will buy:

    48 silver eagles @ $21 each ($1008) = 48 ounces

    or

    $80 face 90% (12.5x face) 80x.715= 57.2 ounces

    Silver goes from ~$18.50 an ounce to say $23 an ounce and you go to sell.

    Dealer buys your eagles at $1 over spot (if you're lucky). $24 x 48 = $1152

    Dealer buys your 90% at melt (if you're lucky). $23x57.2 = $1315.60 ($163.60 more than the eagles)

    Or maybe 10% back of melt if you're really unlucky: $20.7x57.2 = $1184.04 ($32.04 more than the eagles)

    So even at a 10% discount, you're still making more $$ with the 90%.

    Any dealers out there care to comment on the 10% discount? Too much? Too little? About right? >>




    Excellent point!
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  • Norseman88Norseman88 Posts: 962
    You do raise a good point about 90% being a better value than Eagles or Maples the only problem you have is if the 90% is sent out to refiners like 1979-80 and it gets backed up the B&M's and refiners will pay quite a bit under melt for it while Eagles, Maples and .999 bars will bring spot of more.

    This will only be a problem if Silver explodes in price like it did back in 79-80 so we're talking $50 plus Silver.
  • dontippetdontippet Posts: 2,606 ✭✭✭✭


    << <i>Maybe I just was not paying attention but to me it seems like more and more people want 90% over other forms. >>



    I may agree with you, but if this was the case universally, then I think we would see a premium for 90% similar to what we say prior to Y2K. Since 90% seems to be the most economical way to buy silver, then I don't think it has caught on everywhere. I would think, to the non-collector, 90% is perfect. No collectible premiums and you know exactly what you're getting.
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  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    When silver was 10 bucks an oz, you couldn't get 90% for less than 9x. Its now 18+ an oz and 90% is selling for 12-13x. 90% doesn't move along fast like bullion can

    While in the same period, your bullion has gone up 8 an oz.

    HOWEVER, I would say the 90% is less volatile and pretty safe. So if I buy right now at 18.5 an oz and it drops to 14 an oz, I lost 4.50 BUT the drop in 90% is slight, might still be 11-12 times.

    I favor both EXCEPT I am liking 90% a lot more now
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  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Oh yeah and GSA1fan covered the fact that with 90% you can buy below or at melt a lot of the time! With bullion your buying at spot or a premium above spot.

    Another thing is you can stack 90% here and there if you don't have a lot of money but not really with buillion. If I only have 10 bucks in my wallet, I can go buy some 90% but I can't even buy a 1 oz bar.
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  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    I have two 90% $500 bags for every member of my family. This is my WTSHTF stash. All other silver I use for speculation. MJ
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  • Steve27Steve27 Posts: 13,274 ✭✭✭


    << <i>Maybe I just was not paying attention but to me it seems like more and more people want 90% over other forms. >>



    I had the same thought, and as a coin collector I've always preferred 90%, but now it seems everyone wants it. About a month ago I picked up a roll of standing liberty quarters for less than melt (from a dealer); that was a great deal.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>I have two 90% $500 bags for every member of my family. This is my WTSHTF stash. All other silver I use for speculation. MJ >>



    Wow. So simple and yet so rock solid.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • Kd5ddoKd5ddo Posts: 208 ✭


    << <i>When silver was 10 bucks an oz, you couldn't get 90% for less than 9x. Its now 18+ an oz and 90% is selling for 12-13x. 90% doesn't move along fast like bullion can While in the same period, your bullion has gone up 8 an oz. HOWEVER, I would say the 90% is less volatile and pretty safe. So if I buy right now at 18.5 an oz and it drops to 14 an oz, I lost 4.50 BUT the drop in 90% is slight, might still be 11-12 times. I favor both EXCEPT I am liking 90% a lot more now >>



    Wouldnt you then prefer 90% when you think silver may be topping and prefer bullion when silver is poised to make a run?
    Remember that the market can stay irrational longer than you can stay solvent.

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  • Norseman88Norseman88 Posts: 962


    << <i>

    << <i>Maybe I just was not paying attention but to me it seems like more and more people want 90% over other forms. >>



    I had the same thought, and as a coin collector I've always preferred 90%, but now it seems everyone wants it. About a month ago I picked up a roll of standing liberty quarters for less than melt (from a dealer); that was a great deal. >>



    That was a good deal if you got SLQ's for less than melt.
  • keepdachangekeepdachange Posts: 1,374
    Just picked up a roll of SLQ's under melt on the bay tonight
    "If you hit a midget on the head with a stick, he turns into 40 gold coins." - Patty Oswalt
  • Norseman88Norseman88 Posts: 962


    << <i>Just picked up a roll of SLQ's under melt on the bay tonight[/q

    Keep buying them at that price, they have limited downside just like Barber halves or quarters if you can buy them at melt or less. It's always good to have some Silver like this in case Silver has a selloff as they will hold most of their value.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    with barbers and slqs, when you need to sell, you get more than melt which is always good image
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  • tydyetydye Posts: 3,894 ✭✭✭


    << <i>with barbers and slqs, when you need to sell, you get more than melt which is always good >>



    I disagree - as silver goes higher the ealier stuff usually gets discounted as there is less silver in them. Stack them and you will see what I mean
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Personally I like the later date less worn heavier stuff.
    Avid collector of GSA's.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Tydye, with silver at 18+, I have yet to see anyone sell barber dimes quarters, halves, and slqs for melt or even below melt.

    They have a slight numismatics value going for it.

    NOW if silver hit 30,40, 50 an oz, I could probably see them being discounted as if silver got that high, they will just go by weight.
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  • tydyetydye Posts: 3,894 ✭✭✭
    The guys near me will discount for Barber and SLQ slicks. Been that way since silver was in the mid teens.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    tydye I agree with slicks and dateless. But if it has a date and is ok, you would be better off selling it here. SLQs with dates would sell in seconds if it was melt or below melt same with barbers.
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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    SLQ's with date are SCARCE in 90% lots!imageimage
    Avid collector of GSA's.
  • Norseman88Norseman88 Posts: 962


    << <i>SLQ's with date are SCARCE in 90% lots!imageimage >>



    I agree, full date G, vg or fine SLQ's selling for melt or less are always gonna be worth more than 64 kennedies or washington quarters.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,286 ✭✭✭✭✭
    I prefer real money over a commodity that gets me spending money, plus... I look silly holding my loupe up to a 100 ounce Englehard bar.
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