since silver is going through the roof and im new to this please explain why the preferance for ase coin instead of bars???
if your new to stacking i would opt for the cheapest silver you can find to quickly build a position.
I have been trying to remember if any silver or gold patterns expressed weight in ounces in the US and I can't remember any, and a little lazy tonight to go through the pattern books. Some regular issue coins such as trade dollars used grains on the coin, but no ounces to my knowledge. U.S. Coins are usually measured in grams and/or grains. In the case of silver coins, one can get the weight in grams, multiply by % of silver, and divide by 31.10 to get the pure silver troy ounce weight of the silver portion. Bullion usually states the weight as troy ounce pure silver or gold, beware of ebay who use confusion on the two ounces on rounds or bars to their advantage. numbers rounded to 2 places troy ounce = 31.10 grams avoirdupois ounce = 28.35 grams 15. 43 grains= 1 gram In my opinion, only buy silver that is easily marketable. ASE,Canada Maple leaf, stock shares of SLV and others, highly respected bars such as Englehard, J-M, etc. all can quickly be sold when the market turns, AS it Will someday, IMO.
Precious metals have always been weighed by troy ounces. Whenever you see see a weight for precious metal listed in ounces, it should be troy ounces which are 31.1 grams each as desertgem noted. Troy ounces come from the old imperial system (British) of measurement. I have no preference for ASE but many do. 90% silver U.S. coinage (pre-1965) is very popular and less expensive.
The original coinage act of the late 1700s, which also established the US Mint, actually defined the US dollar in terms of grains of silver. Higher denominations were in gold and the worth of gold was established as 16X that of silver by weight. Coins were then denominated in $s, and not the weight, but this is how one established how much silver or gold they had. Since this definition lasted more or less for more than 100 years people completely understood how much PM they had by the $s they owned. This is why you don't see ounces listed on US gold and silver coins except for modern bullion coins and their collector equivalents. It's really too bad that coinage didn't have PM weight printed on it as it made it all too easy and tempting to redefine the $ in terms of a piece of paper printed by the independent Federal Reserve which can now create infinite supplies of the stuff. -------------------------- It should be noted that in much of the world where gold and silver are more accepted by the public as storage of wealth, it is quite common for retail gold to be sold in grams.
Regarding the first question, since you are new to silver investing, ASEs should be preferred [in my opinion] because they are the easiest to resell and usually can be sold for at least a little more than the spot price. If you read through some other threads at CoinTalk, you will notice that people frequently run into problems when they go to resell silver in other forms. So it might be a costly mistake to sacrifice quality in the hunt for the cheapest form of silver you can find. I would stay away from anything except the government issued one ounce coins.
Both answers are correct - ASE and bars, and even well identified rounds. Just depends what you like and what you want to accomplish. I started off with 1 oz of a variety of stuff. I ended up with mosty $5, 1 oz, Canadian Mapels. I like the $5 part. I then moved into 10 oz bars. I like those OK, but find the 100 oz bar more exciting to hold. The prices are too steep these days to afford 100 oz at once. So I am not picking many of those up. 90% US pre-1964 are among my favorite form of silver - not pure bullion, but I like coins more. Peace dollars are real nice, but the Mercury dime is what I hope to fill a bag with some day. It takes 10,000 dimes to make a full bag, so I have long way to go.
Just bought a 1oz bar from Scottddale Silver for 31.99 they also have rounds for the same price { not US mint } thought that was a decent deal ...any one heard of this Company?? thanks Steve
when it's all said and done... silver is silver. with that said, when you buy ask for the buy back price at the same time. In my experience I did not lose as much premium with gmb. even though the masses forgot and some do not know their history... ASEs, Maples and Phils are/will be easily recognized moreso than bars since the country name is stamped on the coin. If you are a long term holder... 15+ years, I do not think it will matter. if you flip or are a short term holder, -15 years gmb is the better route. I will reiterate... silver is silver DYODD
ASE's did not exist in the great 1980 silver melt but if there is another melt I think alot will get melted. That being said you can melt a coin into a bar but you can't go the other way.
I think you are on the path to financial destruction. Why did you buy first, then ask about the company afterward? The price is pretty high for generic silver IMO.
Howdy, I think it's historical and you want a 'silver dollar' type coin. They stack nicely and you can store them in plastic tubes. Also, when they're official coins, it pretty much guarantees their purity and weight. This is important if you want to sell them and when you buy them. Everyone knows what an American Eagle or Canadian Maple Leaf is and can therefore value it the same. American Eagles are nice because you can buy them all over, they're U.S. and you can sell them very easily. A silver crown from BF Nowhere might not be so easy to sell. Pick up a copy of Coin World or Numismatic News and read the ads and comparison shop. peace, rono
let em alone. Scottsdale is fine. however he may be right, you probably would've faired better calling local shops.
Thanks Guys mistake was made but only bought one...did buy 2 ase for 27.00 ea. hope that was a better purchase..also will check my local dealers.
If someone comes here seeking help, he/she should receive the truth and not undeserved praise for making an error. Scottsdale is okay to use, but yahnke didn't know that, so the purchase was an error. Research should preceed purchase.
