ASE's or 90% coins.

I have around $200 in clad coin's that I've found over the last couple of months with my medal detector and I've been thinking about cashing them in and getting silver. I figure I'm better off doing that then letting it all just sit in jars collecting dust.

My question is, should I get ASE's or 90% silver coins? Gold is way out of my budget at the moment so silver is my only option.

Any thoughts?

 

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90% will be cheaper to buy, but you'll get less when you sell. ASEs cost more but you'll net more when you sell them. I think ASEs are best, particularly since the Mint will discontinue the series someday and they MIGHT start to accrue a slight or perhaps significant numismatic premium because the supply will be fixed but demand will continue. Others think cheaper is better because you get a greater quantity of silver for the price.

Pick your own poison. Right now looks like a pretty good time to buy.

 

If your only concern is converting it to silver, buy silver bars and I don't mean art bars or fancy silver rounds, both of which would cost a premium. You would be paying a higher premium for SAE's. Buying (circulated) 90% silver doesn't make sense unless you can get it below melt, but with only a $200 bankroll, you wouldn't have much leverage.

Chris

 

If they are clad coins then unless you have a rare one (mint error, etc) then they are getting more worthless every day. I would cash them in. If you are only interested in the silver value, then go for the bullion and forget the hassle of 90% coins. Since you are talking about $200 ASEs are probably your best bet for the reason they are very easy to sell.

 

Gold isn't really out of your budget, it just might take some more work.

You can get a 20 Swiss Franc or a French Rooster for between $250-235 depending on spot when you buy. They are about the size of a nickle sell close to spot and are .1867 oz.

 

Unless he gets the bullions. You can pick them up for around $3-$5 over spot.

 

why not look at generic silver rounds.

 

I'm going to say go with the 90%. The reason is that you only have $200 to invest. If you went with ASE, you'll find that you get a good deal on a tube (~$2-$3 over spot), but if you buy them individually, the premium usually goes up (~$3 to as much as $10 over spot).

You can buy $10 face pre-1965 coins for about $150 or less today!!!

 

I go with ASE's. They're easy to buy and easy to liquidate.....

 

Take your $200 and start searching halves. You'll likely find a few 90% and some 40%. It only costs fifty cents to keep them.

 

These are all questions I've been asking myself, ASE's?, rounds?, 90%?, heck I've even thought about getting a 10oz bar.

As far as searching roll's go, there are 2 guy's (that I know of) in my area who hit the local banks often searching halves, so unless I drive way out of my normal area the odd's of finding much are slim...

I like ASE's, but I'm thinking rounds will get me more silver for my buck.

 

Do half and half, ASE'S/90% or use the $200 all on ASE'S just as a start but afterwards do a little of both. Bars are nice to have as well but mix it up.

 

Around here you can buy bulk 90% for 12x and if you're willing to just go through the 'junk' can at the local shops you can get dimes for 1.50 each, making it 11.5x

 

How do you figure that? Dimes contain .07234 oz. pure silver. The current price is $17.65 which means its melt value is $1.28, and you're paying $1.50 which is 15x face.

Chris

 

Yeah I messed up. The dimes out of the bucket were 1.15 each. This was back when prices were 18.xx. The 1.50 was a brain fart. I was actually considering buying a bunch more at 12x but wasn't sure...

 

Go with ASE's...easy to buy, easy to sell. TC

 

Ease of resale for full value is frequently underappreciated until the time comes.

 

Personally, I like coins with some numismatic value "potential" to compliment the bullion value. I find that coins "generally" see a spike in numismatic value around the 70 year mark so I focus on silver rolls from the early '60s.

Unc rolls have a silver content of about $130/roll for quarters/halves and about $65/roll for dimes...w/silver @ $18/oz. There were a lot of rolls hoarded back then, but they've been pretty cherrypicked by now. You can assume that anything in a plastic tube won't be over MS63. If you can find truely "original bank wrapped" (OBW) rolls, that's the way to go (imho).

I like the Franklin halves from the early '60s the best. I used to have no problem finding OBW rolls of them for $120-$140. I must have bought them all up because they're getting harder to find. Anyway, that's what I would buy (have bought) when I can find them at the right price...which is usually about $150-$170 for quarters/halves and $70-$80 for dimes.

 

It all depends on how you want to sell them if your selling for silver i would buy bullion but get bars in my opinion easier to deal with but for collectors value 90% would be better because of the fact you could roll search half dollars and get a few 40's maybe 1' 90% then just cash in the clads and do it again its up in the air though

 

for those who prefer ASEs, what price would make 90% junk look as attractive as ASEs? anything lower than melt? 95% of melt?

thanks.