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Foreign silver at or below melt........

ArizonaJackArizonaJack Posts: 4,029 ✭✭✭
in Precious Metals
Coinshows you can usually pick up foreign silver at 95-100% of melt. Does anybody else do this? Solid buy in ag and hours of loupetime and learning .
" YOU SUCK " Awarded 5/18/08

Comments

  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Nope…stick solely with good old USofA.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • cohodkcohodk Posts: 19,133 ✭✭✭✭✭
    Most shops buy foreign sterling silver coins at 75% or less of spot. The lower the silver content, the lower the % of spot.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭


    << <i>The lower the silver content, the lower the % of spot. >>


    Not always true. Pre-1964 US silver coins has a lower fineness than sterling (0.900 vs 0.925) and it brings a higher premium than foreign sterling silver coins.

    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

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>

    << <i>The lower the silver content, the lower the % of spot. >>


    Not always true. Pre-1964 US silver coins has a lower fineness than sterling (0.900 vs 0.925) and it brings a higher premium than foreign sterling silver coins. >>



    I think the comment was based on foreign silver. We all know that 90% US silver bring a higher premium in the US.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CaptHenwayCaptHenway Posts: 32,151 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>The lower the silver content, the lower the % of spot. >>


    Not always true. Pre-1964 US silver coins has a lower fineness than sterling (0.900 vs 0.925) and it brings a higher premium than foreign sterling silver coins. >>



    I think the comment was based on foreign silver. We all know that 90% US silver bring a higher premium in the US. >>



    Correct. U.S. 90% silver is a known commodity. Other than Canadian silver, most dealers and collectors need to look up the weight and fineness of any given foreign silver coin.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    And when you go to sell it, that's what you'll get.
    Becky
  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭
    Id love to buy large quantities for mixed world silver. Mostly for resale purposes, I just cant find enough suppliers to keep me stocked.

    *edit to add*

    That being said yes no dealer will pay melt unless they know its better. Last lot I paid full melt on that was all common date was a batch of sterling Australian coinage, because I wanted it for inventory.
  • CaptHenwayCaptHenway Posts: 32,151 ✭✭✭✭✭


    << <i>Id love to buy large quantities for mixed world silver. Mostly for resale purposes, I just cant find enough suppliers to keep me stocked.

    *edit to add*

    That being said yes no dealer will pay melt unless they know its better. Last lot I paid full melt on that was all common date was a batch of sterling Australian coinage, because I wanted it for inventory. >>



    The Australian sterling is good to cherrypick from junk boxes because they kept the .925 standard through 1945, whereas Great Britain cut back to .500 around 1920.

    For ballpark net weights, figure a Florin at 1/3 oz., a shilling at 1/6 oz, a sixpence at 1/12 oz. and a threepence at 1/24 oz.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    I try and stick with US 90% however I think its sometimes neat to get other things and have a mix of stuff to look at. I did have a bunch which I sold though to concentrate on US 90% and numis. If I was to buy foreign silver, I think I would buy close or below melt or just pick stuff up that is fun and interesting in design
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  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>At the last coin show that we went to their was a table that had common/damaged US Commem S$1s at near spot. Girlfriend found one that was "different" and bought it. Afterwards, I noticed the lettered edge (1 oz sterling), showed it to her, and told her that she did well. There are certainly deals to be found, if you know what you're doing.... >>



    obvious not a US commem. How about a picture?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Lol, now I know why your(WRM) research is flawed...
    keceph `anah
  • CaptHenwayCaptHenway Posts: 32,151 ✭✭✭✭✭
    The "bent neck bird" design if the Franklin Mint monogram/mint mark. 73 is the year it was made. P is Proof.

    Franklin Mint stuff is always as marked, but the weights are random. Can be over or under an ounce.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭


    << <i>

    << <i>Lol, now I know why your(WRM) research is flawed... >>



    From the man who can't tell the difference between fact and reality.... >>



    Yep, since u made it obvious to all, u can't...lol... With pics to prove it, thanks...
    keceph `anah
  • CyStaterCyStater Posts: 681 ✭✭✭


    << <i>She brought it out last weekend, and I tried my new Nikkor 40mm Micro lens out - I like the results....

    It was purchased based on S$ melt value. It weighs 393.5 grains, so it was not quite the "deal" that I thought it was, but still a "bonus" of 1/20th ounce. Am hoping the "P" doesn't mean "plated", or not such a deal. Rim is reeded except for edge lettering area. I've seen that bent neck bird sign before, but don't recall what it means. Assuming that the "73" is for "1973". Any information that can be provided on this would be much appreciated!...



    Terrace Hill is the Governor's mansion in Des Moines, IA. I'm guessing there was some sort of preservation effort in the 70's and these were probably sold to help raise funds. But I don't know for sure.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>She brought it out last weekend, and I tried my new Nikkor 40mm Micro lens out - I like the results....

    It was purchased based on S$ melt value. It weighs 393.5 grains, so it was not quite the "deal" that I thought it was, but still a "bonus" of 1/20th ounce. Am hoping the "P" doesn't mean "plated", or not such a deal. Rim is reeded except for edge lettering area. I've seen that bent neck bird sign before, but don't recall what it means. Assuming that the "73" is for "1973". Any information that can be provided on this would be much appreciated!...

    image

    image

    Thank you, >>



    Terrace Hill aka Terry's Hill is the Governor's mansion in Iowa. Fred Grandy who played Gopher in the TV series "Love Boat" was at one time interested in running for Governor. Apparently it was his desire to move from Gopher's Hole to Terry's Hill.
    theknowitalltroll;
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Wrm
    I am sorry that u think that you are being insulted, it is not what I'm trying to do...
    Just hoping to clear your eyes a bit that is all...
    I hope when u figure out my post regarding your coin, it will lead to some change in thinking for u...
    All the best...
    keceph `anah
  • AmigoAmigo Posts: 966 ✭

    Agree, Franklin Mint product weights can be all over the place.

    I used to poo poo all foreign coins until several yrs ago. I began buying them in Bulk from newspaper ads mostly. I haven't done it in the last couple yrs though. I've ended up with thousands of silver coins. Many times I end up with a scarce issue worth much more than I paid. It's loads of fun to research them. I've also ended up with several foriegn and us medals/tokens in the lots. Idk how my heirs will end up selling them, hopefully they'll be patient and not sell the valuable ones for 75% melt. I'd love to do it again but nobody seems to read newspapers anymore around here. CL is fuller of nutty people than Ebay, lol.
  • CyStaterCyStater Posts: 681 ✭✭✭
    Terrace Hill
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    I buy it now and then because it's just more interesting than most other vehicles. BUT, and this is critical, it is NOT part of my SHTF, emergency insurance PM holdings.

    I'm not counting on it to bring as much as 90% US or .999 bullion. I don't expect it will be as easy to sell. It certainly won't be as easy for the average person to recognize. It's just a fun way to continue to stack now that I'm comfortable with the amount of PMs I have.

    It's also amazing to pick up 200+ year old silver coins for melt.

    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
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