I will be trying to purchase ASE,s and 90% coins. Are coin shows a good place to look? And any help what I should pay would be helpful. Still have a hard time figuring what to pay for 90%, hopefully theres a easy formula, Thanks, Jim
Coin shows are fine. If you're buying ASEs make sure you know the silver spot price for that day and time. Since many dealers consider them bullion.
You got a redbook? It says what the silver content is at the beginning of each series. For the most part, it's the same quantity of silver, even though the designs change. Walking liberties, Franklins, and 1964 Kennedy's have the same silver quantity. Morgans, Peace and even modern silver dollar commemoratives have the same silver content. Dimes are .07 of a troy oz. Quarters are 0.18. Halves are .36. Silver dollars are 0.77. That's just four numbers. You should easily have these memorized by the show. Look at the spot price before you go. Multiply it times each of those values and write it down if you want. That will be the melt value per coin. I find the idea of selling 90% coins at "25x face" (or whatever x face) to be a more confusing, misleading, almost deceptive selling practice. It's another way to figure it but I think it's sometimes used to confuse people into overpaying. Often used by people on craigslist. You basically have to do that math, and then compare it to what I just showed you to see if its a good deal. An extra step that is useless. Melt is melt.
Where is there a show in Parsipanny on Sunday? I'm in NJ i would like to go...i Googled it but couldn't find any information on it. If you could fill me in I would be appreciative.
for 90% i like the Xface method. only have to take spot X .715= times face value. so at $35 spot silver it's 35X.715=25. so every dollar of silver coins melts for $25. just add up the total. for silver dollars it's .772 nothing misleading there.
I'm sure you will find plenty of ASE's, finding bulk 90% may be a bit more questionable. Dealers often buy bulk that is brought into the show by the public, but they are less likely to haul the stuff TO a show unless they know they are going to be unloading it on another major buyer of bulk that is going to be there. Most dealers already have a customer for their bulk and don't need to haul it to shows.
