Should i take this offer or not?

need some advice. my favorite bullion seller here has 35 pieces of US Morgan dollars, all circulated within G-VG-F condition. he is offering it to me at $800.37 (that's $22.87 a coin)

now i saw some offering 1 tube of US silver eagles at roughly $785+ containing 20 coins

i did some calculations and it seems buying the US Morgan lot, i would end up with 5 ounces more even with the 90% purity of the lot factored in.



if you were given with such a choice, which would you likely go for? the 90% Morgan coin lot or the 1 tube of 20 silver eagle rounds? i am a hapless, confused investor

 

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IHGTSIWYM!

Chris

 

I need a little explanation on some of these abbreviations.

 

The Morgans are probably worth about $26/each based on the value of silver at the moment. It is difficult to guess the direction of silver; thus I wouldn't be buying silver as an investment. I do buy them as a collector but got most of mine for less than $20 each. I've got all the ASE's but again got most at about $20/each. They are running from $35-$40 on the bay lately.

 

I agree, folks go overboard using all the abbreviations and acronyms .

 

IHGTSIWYM! - I haven't got the slightest idea what you mean!

Chris

 

PHP? SGD? IHGTSIWYM? Where's my Captain Marvel decoder ring? Or should I say, WMCMDR?

 

It's a matter of personal preferance for one thing, and also what you think silver will do in the future. If you think silver will fall, you will probably stand to lose less money with the Morgans. But, you could go with higher graded Morgans with numismatic value, which might hold value a lot better than either of you current options when silver drops.

 

Thanks for clearing that up! "I have gold treasures sitting in Wyoming, you monkeys!"
just didn't seem right to me.

 

oh sorry haha.

PHP = Philippine Pesos
SGD = Singapore Dollars

<runs off to edit the first post>

 

lmao!

(I think you know that one)

 

I can't keep up.

 

OMG, this is just too funny. To the OP, I would take the coins, but do you trust is my question? I wouldn't buy from outside the U.S.

 

IHGTSIWYM!

I Have Got To Say I'm With You Man !

Just buy the roll of ASEs and be done with it.
No one here cares about Singapore or the Phillipines so talk dollar and cents, if you want a reasonable response.

 

If the silver rounds are pure silver then take them because they are really ingots and 90% silver coins are not the way to go
because when you go to cash them in you will find that that dealer will want to give you much less then the silver value in the coins
and that is why you would get more silver if you take the coins because this dealer can make more money from you by selling the coins.
At the price of silver today most dealers will by those coins at around 50% to 60% of the silver in the coins while a dealer will by the bullion rounds
for a % under spot. ...Go with the rounds

 

There. Fixed it for ya.

Seeing the figures like this, I believe the answer would be quite obvious.

 

ditto.



three different currencies, one transaction?

Or is it several.


If it is Tuesday, this must be Belgium.

 

some suggested to go with the rounds because of that choice can be sold near spot price.

hmmm are you suggesting that i go for the morgan instead because i can get more ounces considering the difference between pure bullion set and morgan set is only 15 dollars plus? also because the morgans are being sold to me at less than melt value price per coin?

 

corrected my first post using NPCoin's conversion.

 

The current spot conversion for one Morgan is $26.03, as I write this. Your offer is $22.87 for one Morgan. That is roughly 12% back on your investment.

Now, the current spot for one Eagle is 33.52, as I write this. Your offer is $39.25 for one Eagle. The Eagles are being offered for 17% in front of current spot. This is far from a "good deal". Buying the Eagles, you are already at a loss, and will continue to be until spot hits $41.32 where you may break even if you are able to find a dealer to purchase at 5% back of spot on the eagles at that point. The premium offered on these Eagles is actually quite outrageous, in my opinion.

Now, for the $15 difference, you will actually hit just over 7ozt silver content more with the Morgan lot over the Eagles. That's roughly 36% more silver for less than 2% more money.

You have a choice between purchasing $911.05 worth of silver for $800, or $670.40 worth of silver for $785. I personally believe that any possible loss you may incur due to a downward turn in the market on silver would be minimized purchasing the Morgans. And if silver continues to take its upward trek, then you have approximately a 36% greater content value with the Morgans.

Being offered 50-60% of spot for 90% silver is demeaning, in my opinion. I routinely sell 40% and 90% silver coin on eBay for close to spot. Even with 14.9% between BIN fees and PayPal fees, I still make better than 80% of spot...even on single pieces.

Personally, I would be jumping on the Morgans, and wouldn't even look twice at the Eagles.