Silver: What NOT to buy
Weiss
Posts: 9,941 ✭✭✭✭✭
Or at least what I would never buy...
Got an email from a reputable firm with whom I've done business in the past.
Title of the email:
2013 Colorized Silver Snakes
Wow.
The really sad part: they're already sold out of the 1 ounce and 2 ounce pieces.
But if you act quickly, you can order the 5 ounce, 10 ounce, or kilo size.
And you'll only have to fork over the cost of 12 ounces of silver for a 10 ounce bar.
Got an email from a reputable firm with whom I've done business in the past.
Title of the email:
2013 Colorized Silver Snakes
Wow.
The really sad part: they're already sold out of the 1 ounce and 2 ounce pieces.
But if you act quickly, you can order the 5 ounce, 10 ounce, or kilo size.
And you'll only have to fork over the cost of 12 ounces of silver for a 10 ounce bar.
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
--Severian the Lame
0
Comments
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
"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>only two kinds that i'll buy - 90% us coinage and silver eagles. >>
Agree 100%, why bother with anything else?
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<< <i>only two kinds that i'll buy - 90% us coinage and silver eagles. >>
Agree 100%, why bother with anything else? >>
I'll answer your question. Junk silver coins aren't pure silver and their weight varies depending on how much wear they have and the ASE's sells for a premium much greater than silver bars.
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>only two kinds that i'll buy - 90% us coinage and silver eagles. >>
derry, you have listed some nice spots in the past to buy from, do you have a certain one you use for 90% silver?
Thanks,
BC
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
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<< <i>only two kinds that i'll buy - 90% us coinage and silver eagles. >>
Agree 100%, why bother with anything else? >>
I'll answer your question. Junk silver coins aren't pure silver and their weight varies depending on how much wear they have and the ASE's sells for a premium much greater than silver bars. >>
There's a reason for ASE premiums and they are recoverd when one sells. When you purchase 90% there is no question on authenticity.
How would you like to own a big stack of what this guy is selling? Note that they are not marked as plated, How comfortable would you be buying from one of his buyers who didn't disclose that they are plated.
"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
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<< <i>only two kinds that i'll buy - 90% us coinage and silver eagles. >>
derry, you have listed some nice spots in the past to buy from, do you have a certain one you use for 90% silver?
Thanks,
BC >>
I only buy 90% locally where I can eyeball what I am getting. Like Perry stated, some of it has a lot of wear.
"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
Don't the real minters complain? Maybe that is why Sunshine made the ID thing.
What happens when a lot of fake ASEs hit the market?
Guess its time to start unloading my birthday junk now, instead of waiting for a higher spot.
If they are bothering to make fake silver ounces, it makes me question every gold purchase now.
While I agree that the vast majority, including these snake novelties, is not for me, if folks get enjoyment out of looking at their collection, what's the harm?
At least they can have a good time and admire their "beauty" while the value of the metal stagnates. Hello $31 silver again
Liberty: Parent of Science & Industry
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<< <i>only two kinds that i'll buy - 90% us coinage and silver eagles. >>
Agree 100%, why bother with anything else? >>
I'll answer your question. Junk silver coins aren't pure silver and their weight varies depending on how much wear they have and the ASE's sells for a premium much greater than silver bars. >>
There's a reason for ASE premiums and they are recoverd when one sells. When you purchase 90% there is no question on authenticity.
How would you like to own a big stack of what this guy is selling? Note that they are not marked as plated, How comfortable would you be buying from one of his buyers who didn't disclose that they are plated. >>
The ASE's are now being faked. You can be sure that the quality and quantity will greatly increase. Also, the premium on ASE's may not last into the future.
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>What happens when a lot of fake ASEs hit the market? >>
The Secret Service gets involved as they currently are with the recent counterfeit surfacing of ASEs. US coinage counterfeiting is taken much more serious and dealt with much harsher than plated bars and rounds.
"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
That's really a pretty good reason for sticking with US issued coinage. I hadn't really given it much thought until now. Good Point.
I knew it would happen.
<< <i>The Secret Service gets involved as they currently are with the recent counterfeit surfacing of ASEs. US coinage counterfeiting is taken much more serious and dealt with much harsher than plated bars and rounds.
That's really a pretty good reason for sticking with US issued coinage. I hadn't really given it much thought until now. Good Point. >>
When was the last time you read about some eBay seller getting arrested by the Secret Service for selling a fake trade dollar or a fake Morgan dollar? They are more concerned with counterfeiters that make paper money.
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
Link.
They are available colorized and uncolorized in several sizes, and are popular raw or slabbed on eBay.
My Adolph A. Weinman signature
Fair enough, but I also know 90% silver and ASEs, and I'm not really worried about fakes, either.
Regarding the OP, I really like the quality of the Aussie stuff - but it's a bit pricey. Always has been. If I'm paying a numismatic premium up front, it's going to be US made.
I knew it would happen.
<< <i>The Silver Snakes referred to by the OP are actually Australian silver bullion coins.
Link.
They are available colorized and uncolorized in several sizes, and are popular raw or slabbed on eBay. >>
Yup, those Aussie $1 coins have been around for years and are becoming more popular each year. Not to be confused with private minted painted rounds.
Several years ago, I purchased a few of the below ones and have never regretted it ( doubled in price since) 2008 Cook Islands 3 oz $20 coins - unable to locate a scan for the 4th coin.
Below is MadMarty's Avatar w/o the hat. Also from the Cook Islands. They have not come out with colorized version that I'm aware of
My Adolph A. Weinman signature
<< <i>OPA, great looking coins, but aren't you afraid you might accidentally spend one?
Not likely...the $20 are about the same size of our "hockey pucks" ... btw I don't have a scan of the rarest and most expensive one...The Last Supper by Leonardo da Vinci
I knew it would happen.
<< <i>Those would be an exception to the rule of not buying colorized stuff, OPA.
Agree and I have to admit, those are the only ones I have + the below one from 2009
I don't know that I've ever seen a colorized coin that I'd take vs. just about any other uncolorized coin or round.
--Severian the Lame
I like to buy colorized ASE's since I learned here that acetone strips the ugly right off. There is a coinshop near me that sells those and the holographic ones as generic rounds.
A quick dip and they are good as new
<< <i>I like to buy colorized ASE's since I learned here that acetone strips the ugly right off. There is a coinshop near me that sells those and the holographic ones as generic rounds.
A quick dip and they are good as new
Yep, I've done that, too. Ditto 90% that's been dipped in paint (old arcade/coin op paint).
--Severian the Lame
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Completed sales ebay glow in the dark coin general flip list