Question: Is $1.90 over spot too much to pay for unc. American Silver Eagles,or a good deal? these came in the velvet boxes,etc. They arn't new ones but 1992,2000,and 2000 mintage dates,bought for silver. Also picked up a silver art round for 15 bucks! 1 oz. .999! What kind of premium is normal for the ASE's? Should I even be looking at silver with the spot price where it is right now? I'm not buying bulk,just fiqured to pick up a few oz. each week or two and keep some capital back in case the price drops. Once again everyone thanks for the advise and help!
$1.90 isn't a bad premium. One coin shop near me is paying $1 over spot to buy them from collectors. The premium you pay is less important than the price you pay. For example, paying $19 when the spot price is $18 is better than paying $20 when the spot price is $20. So if you are a long term holder,try to buy more when the price is low even if the premium seems a little high.
Thanks cloudsweeper! I am just buying a couple oz a week to keep the flow going and to build a rapport with the sellers,while waiting for the price to drop,then I hope to bulk up!
I've never heard of an ASE in the velvet box unless it was a proof in the plastic holder in the box...those are worth at least double + a bit compared to the uncirculated plain ol' ASEs.
SWEET! let's see 8% off that price + the $200 in e-bay bucks plus if I pay using my paypal credit card I get 1% cashback...yea that's still way more then it's worth...I could see if it was a 1995... as taken from the e-bay item... I wonder if this guy sells cars out back in e-bay motors... "1996 $1 NGC-MS 70 Silver Eagle Please Note: I have removed the serial number so as not to have anyone register this coins without owning it. I will email the serial number to the auction winner at there request! The first one sold in less than 24 hours. I have another one for sale for any interested parties. Up for auction we have one of four Super Rare Silver Eagles graded NGC Mint State 70 that I will be selling on ebay this week! This listing is for a 1996 $1 NGC-MS 70 Silver Eagle. This coin is absolutely perfect. There are NO marks, Toning, or Spots of ANY kind. This is a stunning example and EXTREMELY rare coin. I was unaware of how low the 70's population was on MS Silver Eagles. From what I understand many of the monster boxes that came from the United Stated Mint did not have a SINGLE 70 coin graded from them! So this is a very rare opportunity to find the very low pop coins that you are missing for your set. Please check out my other auctions for other EXTREMELY rare MS Silver Eagles including other key dates including 1988, 1990 and the incredibly rare 1991! "
While I agree with this....you have to be careful. Nothing says the price will go up, and nothing says the premium will stay the same. So, while $19 is cheaper than $20 for the same ounce of silver. If the spot were $20 and were to lose $1, you'd only be out $1 on each Eagle. If the spot were 18 and dropped $1, you'd be out $2 on each Eagle. So, the premium does matter.....just not so much in a Bull market.
If you are buying as a collector, it really doesn't matter. If you are buying as an investor, you should have already done the analysis to convince yourself that there is a high probability that silver prices will go up substantially. I really don't care about $1 per ounce moves in either direction. I'm more concerned about the next big move. Cheaper is better. Spot is no more than an indicator for what paper silver is settling for today. It doesn't tell you where it is going. At least that's the way I look at the silver market.
my investment plan is as follows. buy up all the silver I can at below 20 dollars an oz. cheaper is better and my buying will increase to with drops in price and decline like right now,then hold said silver till the price gets high enough that I walk around with a silly grin on my face and sell it all as fast as I can,for the best profit I can. might take a couple years or a couple of decades,it doesn't really matter to me,if the price doesn't get high enough before I die my kids can sit on it or sell it or whatever! Maybe I'll have it melted down and have me a solid silver casket,lol.
I agree with that investment strategy. My value is $28 an ounce, but I consider the numismatic value and premium as well. So, I can get Morgans for about $24 and still feel like I didn't over pay for the silver. Good luck investing.
$1.90 over spot is a very good buy for ASEs. Again, as others have said... everyone has to decide what their investment strategy is over the short or long term to decide if its a good price for them.
What I don't understand is that the two local shops that have some beat up old worn down morgans want 20 bucks each for them,no key dates and circulated pretty hard,silver value now between 13 to 14 dollars,and I can buy ase's from them cheaper than the old worn out morgans,with a silver value higher than that of the morgans. I would say these morgans don't have much in the way of numis. value. But the store owners say people come in and see the old morgans and want one,only thing I can fiqure is they want them just to say they have one?
I saw the same thing in a local dealer's shop. When I asked them why they were so expensive, he told me they were "souvineres for tourists" and his serious collectors wouldn't buy them anyway. But you are correct that ASEs seem like a bargain compared to common date circulated morgan and peace dollars.
They are plentiful now. Mostly, they're not over 100 years old yet. I've noticed coins start to disappear when the 100 year mark for the last mint date is passed. Try looking for some common Barbers and see what you come up with. Compare what they would have cost you in the 1970's. Morgans have .76 oz of silver. At $20, that makes the silver value at $26.3 In the distant future, $20 morgans are gonna look like a steal.
I think you meant if spot was at 20 $ and a morgan is .76 oz of silver,then silver value is closer to 15$. Where as an ase (unc condish) is 1 oz. of pure silver and at 20 $ spot price is worth right near 20$ and would sell for 21 to 22 $ each. don't know where the 26.? $ amount came from? mayne I'm missing something?
I think he means that if you buy morgans at $20 today, they will look like a bargain when silver rises to $26 in the future because they will sell at melt value.
