I am noticing that just about every silver coin is commanding a premium these days and I thought to myself, " DO I want to spend a premium on something that could be worth a lot less when or if silver goes back down?" I do not want to over pay and I feel that the market for silver coins is a little inflated and I may waste money paying such premiums. My question to everyone is this: Has this crossed anyones mind and if so is it keeping you from buying silver coins?
Nope. The price of the numismatic valued coins don't show a great reaction to the price of silver. The lower grade coins and/or common coins will rise due to the metal content is worth more that the numismatic value
Heck yeah. Even stuff still higher than silver value, but closer to it, are rising with everyone's mad dash to silver now. I am still buying ancient silver and gold, but for more new coins concentrating on copper coins. I used to buy 5 or 6 group lots off of Ebay a month containing silver. With these prices I am staying away from them and buying what I described. I started pawing over previous purchases last week, separating out silver and putting it into "numismatic", "better", and "junk". Junk will be the first to go, but "better" will go at a price.
It's a crazy market. When silver was below $15 not a lot of people were buying. Now that it's over $30, everyone is buying. I bought ASEs when silver was hovering around $10, bought up to 250 of the bullion ASEs for $2.50 over spot. When silver hit over $30, each one sold for $35. Made a nice little profit on them.
Definitely. Last year I started working on putting sets together. When silver was about $15 to $20 I finished a set of Roosevelt dimes (1946-64) and all of a set of Mercuries except the 16D and 21 D. Then I was going to move to Washington and earlier quarters and silver halves. I bought maybe 30 quarters and 10 halves, but then the price started going up again so I decided to hold off and work on some copper collections hoping it would go down again. Instead it kept going up, so lately I'm looking at foreign coins. I just want anything I can get that doesn't cost a premium. I've thought about selling some of the silver coins I bought since I could double my money, but I don't really want to break up the collections so I don't think I will. I'd just use the money to buy other coins anyway. If you have time to wait, I wouldn't buy now unless it's one of the rare varieties that won't be affected much by the value of silver.
I agree with KoinJester. Silver prices haven't effected most numismatic coin prices. Investors aren't going to gravitate towards coins that have a value over the bullion content. They won't pay $1000 for a key Morgan when they can pay melt for a common one. Guy
I understand the reasoning behind numismatic coins but i am really referring to the more common grades that most use to fill their collections. I have noticed an increase in average to above average silver coins over the last year. I had also read an article comparing the average cost of Morgan's over the past year for MS 63 and up and it showed a marked increase in price. Lucky for me I am collecting later coins that are not silver, hoping silver comes down so some of us average Joe's can afford pre 64 coins.
Well A rising sea, lifts all boats. On the low end, the price increase is more pronounced than the high end. But all are going up, accordingly.
