I found this at my local coin shop today with a price of $10 and ended up getting it for $6.Now I realize it is only about 7.2% silver but this must still be well below melt.My older edition of Krause has it at not much higher so what's the deal? This seems to be one big honkin' piece o' silver for that price.
Mikjo0,that is a very good deal you got there.The fineness is 72% fine silver.Most Mexican 'silver' coins that turn up here in New Zealand is the billon (10% or .100 fine silver) 1 Peso coins. Aidan.
The deal is they are common and not many people collect them - supply and demand in action. It's a common occurence with world coinage, I can't tell you how many times I have purchased world gold for melt or just under.
Your local dealer may not care for world coins, and may simply want to just discount them (in this case below melt) to get rid of them.
If selling one of these coins for "melt", what American company would buy it except at a steep discount?
I would pick up a few more before he reads this and put's hjs prices up LOL you got a realy nice deal there De Orc
Most US coin collectors and dealers just don't really seem to understand the silver content of world coins. Last monh a he Muncie coin club pre-1965 Canadian silver dollars were being sold in the auction for $4 each with silver at $12 an oz.
