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With the price of silver going up...

JupitarCoinsJupitarCoins Posts: 2,595 ✭
in U.S. Coin Forum
I wonder if it would be a good time to buy the 2009 silver proof territories quarters that are still available from the mint at $29.95 for six silver quarters. Total of the silver is at $22.50 as of today according to coinflation.com. Buying multiple sets would be better than buying one set because of the shipping charge.
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    fcloudfcloud Posts: 12,133 ✭✭✭✭
    Never mind. I think so.

    President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay

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    MsMorrisineMsMorrisine Posts: 32,219 ✭✭✭✭✭

    Here They Are


    Still $29.95.


    They'll catch on sooner or later and raise the price. In my opinion, there's no way the melt price of these will get close to the Mint's list price.

    Worthy gamble now?

    Well, the melt-ask spread on ASEs is smaller....
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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    Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I wonder if DC will up his price? imageimageimage


    Hoard the keys.
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    JupitarCoinsJupitarCoins Posts: 2,595 ✭


    << <i>I wonder if DC will up his price? imageimageimage >>



    Is this payback for my comment on your post?
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    MsMorrisineMsMorrisine Posts: 32,219 ✭✭✭✭✭
    Now they have been unceremoniously ripped off the for sale list
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    MsMorrisineMsMorrisine Posts: 32,219 ✭✭✭✭✭
    the 2009 regular proofs are still on sale.

    hmmmm

    I think these actually sold out!
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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    tahoe98tahoe98 Posts: 11,388 ✭✭✭

    ...looks like only the 2010 silver sets are still available from the mint. of course the quarters are 32.95

    and the silver proof sets are 56.95 (for now) image
    "government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
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    bouchardaboucharda Posts: 2,941


    << <i>...looks like only the 2010 silver sets are still available from the mint. of course the quarters are 32.95 image >>



    Cost more and one less quarter....
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,851 ✭✭✭✭✭
    Not to sound like a smart alec, but...

    ... with the price of silver going up, 2009 would have been the time to buy 2009 Silver Proof sets. I will have to order some more , though... along with the 2010's. Thanks for the reminder.
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    bouchardaboucharda Posts: 2,941


    << <i>Not to sound like a smart alec, but...

    ... with the price of silver going up, 2009 would have been the time to buy 2009 Silver Proof sets. I will have to order some more , though... along with the 2010's. Thanks for the reminder. >>



    Yes....it would have been a good time to buy ANY kind of silver since it has gone up around 50% since Nov. 2009.

    and... as previously mentioned in this thread the 2009 sets are sold out
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    WaltzWaltz Posts: 86
    I think that the collector value will also be more than melt. So if you believe that silver will continue to march higher, than it's not a bad investment play.
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    CoinMaster1229CoinMaster1229 Posts: 1,092 ✭✭
    I think you guys overlook that the 2009 Silver Quarter set has 6 Quarter not 5. Melt value around $27.00
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    bouchardaboucharda Posts: 2,941
    Two pluses for this set....

    ...so far the lowest mintage of any silver quarter proof set

    ... silver will probably spike today and more this week making the premium over melt less than an ASE
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    delistampsdelistamps Posts: 714 ✭✭✭
    If the price of silver is continuing to rise, the best play is to simply buy silver today. Why pay a premium over spot? The premium will likely melt away as silver prices rise. Am I missing something?
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    radiomanradioman Posts: 763 ✭✭✭
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    bouchardaboucharda Posts: 2,941


    << <i>If the price of silver is continuing to rise, the best play is to simply buy silver today. Why pay a premium over spot? The premium will likely melt away as silver prices rise. Am I missing something? >>



    ...because I collect coins.

    Sell some....save some

    If the metal content equates to the cost of the set there is not much downside AND I have some nice coins.

    Why do people buy ASE's and pay a premium over spot???? Same issue....

    Oh...and where can you buy physical silver and pay zero premium over spot????
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    19Lyds19Lyds Posts: 26,475 ✭✭✭✭


    << <i>

    << <i>If the price of silver is continuing to rise, the best play is to simply buy silver today. Why pay a premium over spot? The premium will likely melt away as silver prices rise. Am I missing something? >>



    ...because I collect coins.

    Sell some....save some

    If the metal content equates to the cost of the set there is not much downside AND I have some nice coins.

    Why do people buy ASE's and pay a premium over spot???? Same issue....

    Oh...and where can you buy physical silver and pay zero premium over spot???? >>

    All, very good and true points.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



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    bouchardaboucharda Posts: 2,941
    Too late.....gone again

    edited to add: Too bad....silver content up to $28.08 as of 230p
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    fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    Glad I was giving a second chance by the mint to grab some 2009 silver quater sets on the second go round. Two of my orders have cancel box gone!!image
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    CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭
    That was weird that they came back on sale, but now the listing and picture are gone on the mints web site. So I guess they are officially sold out.
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If the price of silver is continuing to rise, the best play is to simply buy silver today. Why pay a premium over spot? The premium will likely melt away as silver prices rise. Am I missing something?

    All generic/common/ modern US mint products will eventually be priced to bullion where the best case is maybe a 2-5% premium for the item being recognized as a viable US mint product (ie not fake). If someone wants to pay 10-30% premiums for product that's ok. But when silver hits multiples of today's number we'll find these premiums have all shrunk to <5%. This will probably include many BU silver rolls, Morgans, Peace dollars, etc. Wouldn't be surprised at all to see Morgans up to MS64 selling within 5-10% of spot down the road. Buy them because they're pretty and you like them as a collector. Don't buy them figuring they will outperform junk silver because they probably won't. Of course if the mint doesn't update their prices and wants to sell them within 5-10% of spot, then the downside is pretty moderate.

    It's not quite the same reason why ASE's sell for over spot. And that's a fairly tiny premium as well. Those sell for over spot due to recognition purposes as a sovereign 1 oz silver coin. The Maples and Libertads carry a similar type premium for being a sovereign coin rather than a 1 oz round issued by a refinery.

    roadrunner
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    ObiwancanoliObiwancanoli Posts: 1,065 ✭✭✭
    I ordered two sets at 5:44 PM yesterday.

    It shows them backordered, expected to ship 11/19, and the cancel box(es) is gone. I ordered a few additional items as well, all of which are "in stock and reserved", so I'm feeling pretty confident. I hadn't obtained any of the state qtrs silver proof sets, outside of the US Mint annual Silver set, so this wil be a good thing... especially since silver hit $26.25 today. imageimage
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    CoinMaster1229CoinMaster1229 Posts: 1,092 ✭✭


    << <i>If the price of silver is continuing to rise, the best play is to simply buy silver today. Why pay a premium over spot? The premium will likely melt away as silver prices rise. Am I missing something?[/q

    That is pretty much what you are doing by buying these 2009 sets. Buying any silver will cost a small premuim over spot these day`s. that make these Proofs about as good a buy as you can get! also when its comes time to sell, proofs could sell for a little higher price than the older stuff.
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    30AnvZ2830AnvZ28 Posts: 1,619


    << <i>

    << <i>If the price of silver is continuing to rise, the best play is to simply buy silver today. Why pay a premium over spot? The premium will likely melt away as silver prices rise. Am I missing something? >>



    ...because I collect coins.

    Sell some....save some

    If the metal content equates to the cost of the set there is not much downside AND I have some nice coins.

    Why do people buy ASE's and pay a premium over spot???? Same issue....

    Oh...and where can you buy physical silver and pay zero premium over spot???? >>



    I do it all the time at my local pawn shop. I also frequently buy UNDER spot, ESPECIALLY for 90%. Bought some at 14x face a couple days ago.
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    JupitarCoinsJupitarCoins Posts: 2,595 ✭
    Well I guess it did indeed turn out to be a good buy. With silver prices at $34.85 today these sets have a silver melt value of $37.82
    So tell me did anyone take advantage and buy any of these sets?
    I should have bought more but I did manage to buy an extra ten sets just before they officially sold outimage
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    bouchardaboucharda Posts: 2,941
    I got 20 sets since they were a screaming value at the time.....

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