Went to the local Antiques store today and was looking at some currency. I originally had my eye on a 2005 Silver Eagle dollar but I passed because, I noticed a stain on the coin it wasn't deep but was afraid to clean it. So then I noticed this large thin $2.00 bill its done in all sliver front and back. It came with a certificate of Authenticity as well. On the Certificate it says Year 2004 $2.00 Silver Certificate in .999 pure silver. It measures 21 inches long & 46.1 sq. in. When I got home I didn't even noticed it was from National Collectors Mint, I heard they had ripped people off before? Did I get ripped off? They don't allow returns. I'll post a pic tonight. Thanks.
If the COA doesn't specify the weight and/or if it is not stamped on the item, then assume you don't have any meaningful amount of PM beyond a few atoms worth. Do a search on this company (I refuse to call them a mint) and you will see what I am talking about.
how much were they selling the silver eagle for? if it was spot or close to spot, a stain wouldn't keep me from buying it.
Keep in mind everything in the store is owned by different people. The Seller wanted $65.00 but there's no refunds/returns. The main reason why I didn't buy it was because I was told about the prices of gold & silver going down. So I thought I was doing the right thing and buying the cheaper piece. By the way the coin is from 2005.
65 is WAY TOO HIGH for an ASE. My gut says that the silver foil $2 replica was probably overpriced at $26, but I am not familiar enough with that one to know there isn't $26 worth of silver in it. ??? Unlikely, but I don't know for a fact. No matter what, the replica bill is worth nothing above silver value. The ASE normally has a slight premium over silver value unless it is really ugly.
Is it like this one? (Different date of course) http://www.ebay.com/itm/National-Co...271?pt=LH_DefaultDomain_0&hash=item19c8b1513f
The good news is that $26 is very little money compared to the value of the lesson you learned. Everybody here has made buying mistakes. Everybody. Only buy items you recognize and have researched in advance. Buy only things you know about -- at least as much as the seller and preferably more. Know what something usually costs at other dealers, and what you can sell it for before you make your purchase.
The key is how much does it weigh? If it weighs a troy ounce of .999 silver, then it is worth roughly $30...
Yes. And another point of good news is that you didn't buy the ASE. At $65, it would have been an even more expensive lesson, even if the ASE wasn't spotty.
With the ASE, there would at least have been a chance to get even if silver goes above $60. With the "silver certificate," it might take silver prices in the hundreds of dollars to break even.
I agree I'm not saying I was pushed into buying it, but when I was told silver might go up I bought it.
My gut is telling me, its a troy ounce of pure .999 silver. Even if i break even or make a $4.00 dollar profit, I'm happy. But would like it to go up.