Should I convert my junk silver into ASE or other bullion?

I have about 60ozt in junk silver that I would be interested in getting rid of. Just to list off the top of my head..


21x 40% halves
197x quarters
297x dimes
About a dozen war nickles

A few peace/morgan dollars and 90% halves and a few merc dimes that I'm not considering selling.

Assuming that this adds up to around 60toz (might be less, I calculated with my 90% halves), what sort of exchange rate should I expect for ASE or other bullion?

Should I even consider swapping my junk for larger sized bullion? I'm positive that there aren't any key dates nor error coins (I checked!).

I ask because I would be needing something more compact for storage in a safty deposit box.

 

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Not a bad idea. ASEs are extremely popular, beautiful, and highly regarded as bullion. Also, if you ever wanted to sell any of it off, dealers are readily buying American bullion, IMHO.

 

Gold has a much higher value density than silver.

(I know, I prefer silver too and my stacks are around 100:1 silver to gold)

To answer your question, you should be able to sell your 90% silver for spot. Slightly higher if you're patient. When you buy ASE or other government issued .999 bullion, you can expect to pay slightly higher than spot (10-15%), less if you're patient.

 

+1 ASE's are easier to sell and you won't take the hit that you normally would with junk silver.

 

I would get rid of the 40% personally. My stack is made up of about half and half 90% junk silver and .999 bullion which is ASEs, 1 oz bars, rounds. I'd like to buy gold, but you can't buy it with a low premium unless you buy 1oz+ at a time.

 

Personally I wouldn't just because I don't want to take the premium hit. 90% junk should always sell for spot if not more anyway IMO. If you do, think about buying some gold for it or even see if your LCS or someone trust worthy would trade you junk for bullion.

I am actually the opposite. If I could get more silver value by trading ASE's for junk silver I probably would.

 

Morgandude your leave of absense didn't last very long. Welcome back already.

 

Yeah. I never really wanted to leave--thought it through. Read the whole soap opera in the general discussion.

 

I'm aware that gold is better value for your space, but I don't really have the income to throw it around like that. If Ii were to get some gold bullion, I would be getting an AGE or a low quality/cleaned St Gaudens raw.

But as I've had all of this silver for a while now, I don't think I would be interested in selling it or converting it into gold just yet

 

If you have $1750 worth of silver, you could just as easily have $1750 worth of gold and it would be a lot easier to store. (I'm only saying this because you mentioned space in the SDB being a concern)

 

I would keep the 90% silver and convert the war nickels/40% half dollars to ASEs.

 

I like junk 90% silver more than bullion as well. Just think about the history of the coins! Think about all the places it's been, all the people that have held it. Plus, the original designs of the coins speak for themselves. Junk and bullion have the same % assosiated with them anyways. Junk silver cand be bought at scrap and sold at scrap, and bullion can be bought at a slight premium and sold at that same slight premium.
As for 40%/35%, sell that and go buy some more 90%. More exciting history.

 

I like 90% stuff. I also like ASEs. When I read into the doomsday end of the spectrum I lean 90% for bartering. When I read into the "no worries, Man!" end of the spectrum I lean ASEs. So, obviously, I have some direction issues when it comes to buying PM. I haven't bought in with reckless abandon or great %'s because I haven't yet been able to define myself. You may be in a similar position, so take your time.

When I get 90%, I try to get good looking coins. I love the history and beauty of all of them.

 

My 90%s have quite a musty smell with them. I don't know what it is, but after going through four rolls of quarters I also passed out from the stink!

Though I have one ASE I bought this week.. I think I'd enjoy having a tube of ASEs, or to put my silver junk in plastic tubes. Make it look all official.

 

I am with others and trade out of below 90 percent stuff. Whether you go into junk or ase is your call but i like junk.

 

I'll be a contrarian and say don;t do the trade just change the target for a bit. Everyone likes to think that the more pure silver will be easier to move if and when the time comes and you have to. I submit that it's better better to have a mixs than to focus on one type. I've got over 175 ozt of silver with a mix of ASEs, Morgans, Franklins, and some others. I'm probably going after gold for awhile and then go back to silver some point in time later (though multi-coin lot of Franklins on eBay are hard to pass by...!).

 

People are happily overpaying for junk silver on eBay. So 90% silver is very liquid. I also have ASEs, but never understood the hype about them. Rounds or bars from recognized refineries are just as good as ASEs. I say convert to ASEs only if you don't have many of them and need to diversify. Otherwise keep the 90% silver because it is also very liquid, contrary to what some may claim here.

 

One major advantage to junk silver is that it comes in smaller sizes. If silver ever goes to the moon, well, junk silver will be the new crack.

 

So many conflicting opinions!!

I think I'd be happy with a single roll of quarters, dimes, dollars and ASEs possibly..

After another headcount, I do have a flat 50ozt.. Which would by far be enough to have a solid roll of all of those.

Dollars are 10/roll, right? That would be ~7..
Are ASEs also 10 per roll/tube as well?

 

Dollars and ASE's are both 20 to a roll.