Is there a premium for large ASE's ??
bronco2078
Posts: 10,211 ✭✭✭✭✭
Do the 2 oz , 4 oz, 8 ounce etc. oversized ASE coins sell for any sort of premium? or are they just treated as generic rounds and trade at spot times the number of ounces?
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<< <i>Do the 2 oz , 4 oz, 8 ounce etc. oversized ASE coins sell for any sort of premium? or are they just treated as generic rounds and trade at spot times the number of ounces? >>
I would treat them like bullion rounds.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
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I was looking at an item on ebay and had a senior moment.
big ASE
<< <i>
<< <i>Do the 2 oz , 4 oz, 8 ounce etc. oversized ASE coins sell for any sort of premium? or are they just treated as generic rounds and trade at spot times the number of ounces? >>
I would treat them like bullion rounds. >>
<< <i>
<< <i>Do the 2 oz , 4 oz, 8 ounce etc. oversized ASE coins sell for any sort of premium? or are they just treated as generic rounds and trade at spot times the number of ounces? >>
I would treat them like bullion rounds. >>
However, on eBay, they do sell for a premium over spot.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>They are not American Silver Eagles. >>
Hey good buddy...didn't recognize you without your beard.
<< <i>
<< <i>They are not American Silver Eagles. >>
Hey good buddy...didn't recognize you without your beard.
incognito, hiding from the politicians
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I was looking at an item on ebay and had a senior moment.
big ASE
The number of ounces varies depending on the mint. Some of them use a 12-troy oz pound, and some use a 16-troy oz pound. I own a "Giant Quarter-Pound Golden Eagle" from the Washington Mint. The coin shows it is one quarter pound fine silver. The certificate of authenticity shows a weight of four troy ounces. When I weighed it, it was four troy ounces.
For a while I tried identifying the mints that used a 16-troy oz pound and looking for people that sold them without specifying the number of ounces, but there were always a couple other people who could also tell which mint the coin was from, and bid the price up.
<< <i>Some of them use a 12-troy oz pound, and some use a 16-troy oz pound. >>
There is no such a thing as a 16 oz Troy pound. The Troy pound contains exactly 12 Troy ounces. Period.
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>
<< <i>Some of them use a 12-troy oz pound, and some use a 16-troy oz pound. >>
There is no such a thing as a 16 oz Troy pound. The Troy pound contains exactly 12 Troy ounces. Period. >>
Correct......there is a 16 oz avoirdupois lb
<< <i>
<< <i>I was looking at an item on ebay and had a senior moment.
big ASE
The number of ounces varies depending on the mint. Some of them use a 12-troy oz pound, and some use a 16-troy oz pound. I own a "Giant Quarter-Pound Golden Eagle" from the Washington Mint. The coin shows it is one quarter pound fine silver. The certificate of authenticity shows a weight of four troy ounces. When I weighed it, it was four troy ounces.
For a while I tried identifying the mints that used a 16-troy oz pound and looking for people that sold them without specifying the number of ounces, but there were always a couple other people who could also tell which mint the coin was from, and bid the price up. >>
Correct. And over the years in the coin shop I have seen various oversized knockoffs that were either multiples of troy ounces or multiples of avoidupois ounces, using either 12 ounces to the pound or 16 ounces to the pound.
In other words, you have absolutely no idea what any given piece weighs until you physically weigh it on a scale. For this reason most people are afraid to buy them, and virtually all the pieces that we bought in over the counter were burned with our scrap.
TD
<< <i>
<< <i>
<< <i>Some of them use a 12-troy oz pound, and some use a 16-troy oz pound. >>
There is no such a thing as a 16 oz Troy pound. The Troy pound contains exactly 12 Troy ounces. Period. >>
Correct......there is a 16 oz avoirdupois lb
While you are both correct, in this case it is irrelevant. I am not talking about how many ounces are in a pound (be it troy or avoirdupois). I am talking about the weight of the coins, how they are labeled, and how they are marketed.
My point is that some of the mints involved treat a pound as being 12 troy ounces, and some treat a pound as being 16 troy ounces. I am guessing that, at some point, someone said something like "I don't care how many ounces are in a troy pound! Everyone knows silver is sold by the troy ounce, so we will use the troy ounce. And everyone knows there are 16 ounces in a pound, so we will use a 16-ounce pound."
As a result, unless they have weighed the coin and told you how many ounces it is, or you recognize the mint by the design, you don't know how many ounces are really in it even if it says "quarter-pound," "half-pound," or "one pound".
Edited to add:
As an example, if you go to this Ebay auction and look at the image of the Certificate of Authenticity, you can see that, under specifications, it details the weight as being "One Quarter-Pound (4 oz. Troy)".
<< <i>
<< <i>
<< <i>
<< <i>Some of them use a 12-troy oz pound, and some use a 16-troy oz pound. >>
There is no such a thing as a 16 oz Troy pound. The Troy pound contains exactly 12 Troy ounces. Period. >>
Correct......there is a 16 oz avoirdupois lb
While you are both correct, in this case it is irrelevant. I am not talking about how many ounces are in a pound (be it troy or avoirdupois). I am talking about the weight of the coins, how they are labeled, and how they are marketed.
My point is that some of the mints involved treat a pound as being 12 troy ounces, and some treat a pound as being 16 troy ounces. I am guessing that, at some point, someone said something like "I don't care how many ounces are in a troy pound! Everyone knows silver is sold by the troy ounce, so we will use the troy ounce. And everyone knows there are 16 ounces in a pound, so we will use a 16-ounce pound."
As a result, unless they have weighed the coin and told you how many ounces it is, or you recognize the mint by the design, you don't know how many ounces are really in it even if it says "quarter-pound," "half-pound," or "one pound".
Edited to add:
As an example, if you go to this Ebay auction and look at the image of the Certificate of Authenticity, you can see that, under specifications, it details the weight as being "One Quarter-Pound (4 oz. Troy)". >>
Marketing ploy....CMC Mint along with other Mints, that produce dubious bars, label their German Silver buffalo bars (there is no silver in "German Silver") as Fine German Silver .999 ..1 troy oz. Technically they are correct...it's .999 Fine German silver, but neglect to indicate that its an alloy and not silver.