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If silver is so precious, why do they waste it like this?

BaleyBaley Posts: 22,660 ✭✭✭✭✭
in Precious Metals
"World's most interesting silver"

Anyone here own one or more of these items and willing to defend them?

Liberty: Parent of Science & Industry

Comments

  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭
    Nothing that I would like to own but these are no worse silver rounds.

    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

  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    This is what popped into my mind while looking at the page:

    1. Limited edition: This attracts a lot of people (Flippers, investors, gifts buyers etc).

    2. Color attractiveness. This brings in new buyers, especially people that are non collectors that want to buy something for a collector (Not knowing most do not like this type of bullion) but it's "pretty".

    3. Variety. Some like to combine "Collecting" and "Stacking". A stacker wants the cheapest silver they can find to save money and buy more silver. Collectors want "One of each", "Complete sets" etc. so they will buy to keep up (Much like the annual sets from the Mint or ASE each year from the mint).

    I'm sure there are more reasons, we may not agree with all of these but they are made for a reason and if they continue... there is a reason (People are buying them).

    Best,
    Ray
  • bronco2078bronco2078 Posts: 10,227 ✭✭✭✭✭


    Its still a free country. They are free to overprice silver and I'm free to not buy it . image

    APMEX is willing to fish for suckers now and then having said that, I ordered a few things from them last week.


    Fiji turtles and koalas were 60 cents less each there than at provident for a short period of time.
  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭
    I don't own one, but it's not a "waste" if someone enjoys it.

    It's also not a "waste" because the silver in the coin is 100% recoverable if in the future, the price of silver overtakes the demand for the coin itself.

    My Adolph A. Weinman signature :)

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The silver is not wasted. The base coin is still there under all that colorization.
    Colorized ASE's were a popular item within the past 10-15 yrs or so. But, not anymore. In any case they are still 1 oz of pure silver.
    Nothing is wasted or ruined. Sell me those items at spot and I'll defend them all day long.

    If gold and diamonds are so precious why do they "waste" it by making so many absurd jewelry items from them?
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭


    << <i>
    If gold and diamonds are so precious why do they "waste" it by making so many absurd jewelry items from them? >>



    excellent, excellent point! answer: for the "retail markup", naturally!

    >Sell me those items at spot and I'll defend them all day long. <

    So it's not the actual silver that's wasted, just the premium for the shape/color?

    (unless, of course, a "greater fool" can be found image )

    Liberty: Parent of Science & Industry

  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    Virtually all of us pay an insane amount above the intrinsic value of old coins because of a certain date or variety. MUCH higher ones than these modern collectible coins.

    Those who live in glass houses...
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • bronco2078bronco2078 Posts: 10,227 ✭✭✭✭✭


    << <i>Virtually all of us pay an insane amount above the intrinsic value of old coins because of a certain date or variety. MUCH higher ones than these modern collectible coins.

    Those who live in glass houses... >>





    Really , what difference does it make if you pay up for a blob of neon paint or pay more for something graded MS65 than an MS63. Its all just as foolish if you scrutinize it too closely.

    Artificial scarcity , pretty colors, toning pick your poison.

    It could be worse right , we could be talking about baseball cards image
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    I don't own one on the first page.

    Perhaps the one I own is on another page.

    I bought it because of the controversial nature of the subject.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Perhaps silver isn't really "all that precious."

    Why do we waste gasoline, pollute our air and put wear and tear on our vehicle/s to deliver a frikken pizza?
    theknowitalltroll;
  • jmski52jmski52 Posts: 22,863 ✭✭✭✭✭
    Baley, you and I should come up with a workable financial model for "the Greater Fool Theory". I'd be interested in how to determine the pricing "sweet spot".image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    They're selling mintage more than a silver piece.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭


    << <i> It could be worse right , we could be talking about baseball cards image >>



    .................or stamps.image

    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

  • tneigtneig Posts: 1,505 ✭✭✭
    Yeah, I started to think awhile ago that silver is just not that Precious in its quantity. And stacking may have something to do with its precious Value now.
    But I'm glad its in the category and having had been used for money (coinage), and hope that mine stays precious.

    I think I have one colorized, but I wouldn't pay extra for it. When I start selling I'll ask for more. Make nice starter gifts to newbies.

    Rarity has a lot to do with trends, collector whims, etc. And you need to know what that trend has peaked. There are only two tneig melted bars in the world.

    The prices on some of those 1000-2500 minted bars is very expensive, but I think that market if very small. I have no experience with half the
    stuff on that apmex list, other than the sentiment here of minimal value. Got a kick out of the "only 888 minted." The buyer may be the last to
    ever pay that much. I wonder if apmex ever bargins?

    I guess these could end up in the junk stuff or in a pile from the pawn shop and I'd never know or think
    they were worth anything above spot+1. When I get an odd piece, I look it up on ebay "buy now" and convince myself its worth more... ha

    thanks for calling it out.
    COA
  • bronco2078bronco2078 Posts: 10,227 ✭✭✭✭✭


    << <i> I wonder if apmex ever bargins?

    . >>




    You might be surprised if you just keep an eye on them. Bookmark something like that and check back once in a while. They will try all year to get big money for something then cut the price at the end of december and blow them out sometimes.



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