Questions of a n00b

To start off with, yes I researched. And yes, I confused myself more. That is why I come to you folks here. I'm new to the precious metals game and am going to start my collection/investments with some ASEs. But I'm a little confused on something. I'm looking at 2013 uncirculated ASE and see that they are significantly less than years past ASEs, why is that? Is it a historical thing, as time goes on up goes the price on older ASEs? I would assume uncirculated means it should be, mostly, flaw free? Do these things come graded because I'd think a brand new uncirculated ASE would be rated pretty dang high?

Thanks for any info in advance!

Patrick

 

Log in or Sign up to hide this ad.

They dont come graded from the mint, no, and most should fetch ms67-69. As far as the price, i have no idea. A person can ask whatever they want, but it has to sell.

 

When eagles are sold by the mint they are sold for slightly over spot. 80s and 90s eagles are worth more because they are older and less were minted. If you look at online dealers they are sold out of older eagles even though you may need to pay $5 over spot. Supply and demand determine price. If given the opportunity to purchase older BU ASEs at the same price as recent years always buy the older ones. They also weigh slightly more because the price of silver was much lower and the mint was more lenient.

 

I see. What are their production numbers this year compared to years past? Do they typically mint more in recent years or will this year be a low supply?

 

Have you visited & studied this site:

www.kitco.com

https://online.kitco.com/bullion/completelist_USD.html#silver

You may want to consider buying 90% silver USA coins.

If you purchase bars be aware of fakes.

American Eagles are recognized coins. Non-standard (non-recognized) bullion coins may be discounted when it is time to sell them.

WELCOME TO COINTALK
:welcome:

 

http://silvereagleguide.com/mintages/

This year- probably not for business strikes just going off past years.

 

This years production is not predetermined. The mint MUST supply enough to meet demand. Recently there have been more eagles minted because demand for them has increased.

 

My post above was a little wordy. I just wanted to make it clear that IMO you may want to consider buying 90% silver USA coins. There is nothing wrong with Maple Leafs & Eagles but I just prefer 90% USA silver coins.

 

I am relatively new as well, and am currently fighting information overload. I have bought a little of everything and have zeroed in on eagle coins. Mostly silvers and a few 1/10 golds. I have a decent collection of ASE, but have surprisingly found much joy in the 90% change. Keeping things in perspective and reasonable are what I'm concentrating on now.

 

Why do some have preference for 90% Silver?

 

Usually 90% silver coins can be purchased at spot price. ASEs have premiums.

 

this is the exact reason why i buy 90%. plus you can put together a complete roosevelt dime set and most of the washington quarter, mercury dime, and franklin half sets with almost no premium because those sets are usually considered "junk". i just can not justify paying the silver eagle premium for silver when there are ways to not pay a premium. but a lot of dealers will pay more for silver eagles

 

Does a 90% American coins mean the bag is full of all coins that are at each at least 90% silver? If they are 90%, isn't the spot price for pure silver? And by pure I guess I'm referring to a bar or an ASE.

 

ASEs are refined to .999. There is no more refining needed. If you wanted to make 90% silver pure it may cost even more than the premium for ASEs per ounce. There has been a lot of debate about how much wear 90% coins have which would reflect paying a premium too. I collect both 90% and ASEs for that reason.

 

Well I guess my question is, why would someone pay the spot price for something thats not pure silver?

 

A bag of 90% silver coins are all 1964 and earlier American dimes, quarters, and half dollars. The amount of silver in the bag is determined by the weight of the bag * .90.

 

Because they are easily recognizable and the metal content is known. There is also no way of buying .999 from a dealer without paying a premium.

 

I see. So in reality the spot price of silver is in reference to silver that is not .999? Thats interesting. Also, people mention that you can get it at near spot. When I compare kitco.com to goldmart.com, 79.5 oz of 90% at kitco goes for $2,342 and gold mart says $2,335. Kitco makes no mention of a premium, but, the goldmart one says "buy for spot plus $1.19/oz" yet its still cheaper than kitco. Can someone decipher this for me?

 

Spot price is paper silver. For example the price of a barrel of oil through a ticker symbol is not exact to the price of gasoline in you car. There is a cost of receiving the physical product. The "buy for spot plus $1.19/oz" means you will pay a premium per ounce of silver from that source. If you look at the cost of bars there may be a larger premium, maybe not. If you want to buy the most amount of silver without paying a premium buy from a local dealer 90% silver at spot. Use coinflation.com to determine the value of a particular coin.

 

It's also physical though, you can take delivery of 5,000 oz of .999 silver at spot. Not sure who covers shipping, anyone know this?

Granted, most do not take delivery and its just paper being traded back and forth.