should I sell my numismatic silver and buy silver around spot?

I got some numismatic silver coins that I payed spot for from some stupid people on kijiji.ca. should I sell them to my coin store and use that money to buy silver bullion for around spot?

will the numismatic value go up as silver price goes up?
should I just keep these numismatics just encase silver drops? so I can exit silver without a lost?

 

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need some more info on what coins you're talking about. some stay ahead of bullion and some have the same value as bullion rises so it doesn't pay to keep them.

 

Like Silverfool said, there is no way to know without details. How do you know it has a premium right now over spot?

 

I make it a practice of selling bullion to purchase collectibles, but that's just this nuts method.......

 

I have some collector canadian coins. (click the link to see coins)
(Removed)

Auction listings must go in the Auction subforum and not listed in the regular posting area.

 

I was considering doing the same thing until I learned that my local dealer will only give me 20x over face value for silver proof coins. (The same he offers for junk silver)

It is possible to get over spot for silver proofs, but if you just walk into a dealer and sell your silver proofs and buy silver bullion, you're going to get hosed.

 

Depending on the premium I would hold it if it has a small premium, but larger premiums tend to get eaten into if spot prices rise as the numismatic value doesn't necessarily change. By small premium I typically hold things like pandas, lunars, kookaburras, koalas, CA wildlife series, not the outrageous stuff from Perth, and primarily bullion for me personally in this regard. I have a coin collection but I don't plan on selling that stuff. Nice coins for keeping, junk for small change in a potential barter scenario, not for flipping.

 

What about the frist series lunars? i have 7 one oz of them and they go for over 100 bucks ea on ebay nowadays

and a 28 gram 9999 canadian collector coin with 2 stamps that goes for around 200 bucks.

most of my collector coins that have a decent premium is canadian coins

 

Might be a good time to sell Series 1, especially with Perth reminting old kookaburras that didn't meet the mintage ceiling, who knows what's next. I recently found a dog and a pig for $60 apiece on the bay and bought them with no hesitation. I collect these though, not just for stacking. Typically lunars make for a great flip if you can get them close to spot when they first come out. No such luck with the dragons though, but I've found a lot of rabbits at my LCS and will buy them all day long for $42-$45.

 

If you're wanting to sell the silver to get more silver, why not discuss a trade with the coin store?

No way to tell you without knowing exactly what you have. Numismatic value depends on rarity, mint, date, series, key date or not, any varieties, possible attributions/designations, etc.

But if you paid spot for them, not sure when and what spot was when you did buy them, if silver drops below what you paid for them, you've lost at that point.

 

[/QUOTE]But if you paid spot for them, not sure when and what spot was when you did buy them, if silver drops below what you paid for them, you've lost at that point.[/QUOTE]

no because I'm mainly talking about my Canadian silver collector coins that have a collector price. the silver coins minted for numismatic value not for bullion investing.

 

But if you paid spot for them, not sure when and what spot was when you did buy them, if silver drops below what you paid for them, you've lost at that point.[/QUOTE]

no because I'm mainly talking about my Canadian silver collector coins that have a collector price. the silver coins minted for numismatic value not for bullion investing.[/QUOTE]
You said in your OP, you paid spot for these coins from stupid people from some site I've never heard of. That's your in for these coins, what you paid.

If silver drops below what you paid, and even low enough that it takes any numismatic value of these coins with it, you've lost.

 

If I had those coins, I would sell them to add more total ozs of silver to the pile.

 

When silver stacking I'd rather own rounds than mint issued coins, usually much cheaper to increase overall ounceage.

 

where I live the coin store charge 3 dollar over spot for rounds and 4 dollars over for maple leafs.
so Id rather buy the government coins for an extra dollar

 

With only a dollar difference at your local shop, your strategy makes sense.

 

well its a lot easier to sell them when I have to

 

Honestly it will depend on the numismatic silver and what premium you can get for it (on ebay?). Then again if spot silver drops from the current $31 level, then numismatic silver can give possibly give you some protection in a falling market since premiums on numismatic silver tends to fall at a slower rate than regular silver bullion. If you truly like the numismatic silver piece that you have, then you should just keep it. It is hard to predict what spot silver will do in the future and it is also hard to predict what numismatic silver premiums will do in the future and I really cannot give you an answer to this question. However, you would have to ask yourself the following: Are you a numismatic person or just a bullion stacker?

If you are strictly a bullion stacker, then you should go ahead and sell the numismatic silver for the current going premium value (on ebay?) and buy silver at spot since you have the chance to do so.

If you are strictly a numismatic collector, then you should not sell the numismatic silver and just keep it. If you still have the chance and wanted to buy some silver bullion at spot, then you should do it with cash and not sell the numismatic silver to get the silver bullion.