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silver coins and such??
CaneyRiverDog
Member Posts: 147 ✭✭
Are silver certificates and coins worth more than going price for silver? Went to an auction last night and some of the 4oz bars, certificates( what I call 4oz of silver made to look like paper currency, not sure if that's correct term) and some of the silver coins brought more than going rate for an ounce of silver.
I believe old coins (actual currency) could be worth more but I'm talking about generic coins made off .999 silver.
What's the best site to get current silver prices?
I can find its at $25.30 a troy ounce... some of those last night went for $40 to $45 a troy ounce not including sales tax and 14% auction fee!!
Comments
That's what an good old auction does, bring the amount to what it is that night with "Statue of Liberty "bidders. Lear Capitol is a source for market prices.
I once saw at an auction a NIB Raven 25 caliber bring $500, yes sir.
Google "ngc coin melt values" and you will get the latest info, updated frequently. Note that pre-1965 U.S. silver coins are 90% silver and referred to as "junk silver".
i am far from an expert but i always thought an ounce of silver was worth the spot price plus a sellers premium of whatever they could get. seems they were getting a lot.
Buying and selling gold and silver is a big and highly profitable business. Right now silver 1oz coins are running about $4 over bullion prices. So if you buy that coin and then sell it back to a dealer for spot price you lose 13%. The dealer then sells it for over spot and makes his profit again. I laugh when I see the tv commercials telling you to buy now because the price is going to skyrocket. If it is going to skyrocket why would they sell it to you instead of holding on to it?
There is nothing wrong with holding precious metals but buying wisely is the key and it sounds like your bidders just got caught up in the bidding. Of course that has never happened to me when bidding on stuff like guns. 😁 Bob
I have purchased silver and gold from APMEX for 25+years but just bullion. I don't know enough about coins to start purchasing them. I had friends from work decades ago that were really into American vintage coins. They probably have done quite well over time. What I hate are these TV commercials promoting silver (gold also) saying that if silver would meet it's all time high you would make a bunch. Now, it could reach that amount but that all time high wasn't real. It was manipulated by the Hunt brothers trying to corner the silver market many years ago. The more I see ads, the more I hate advertising.
😕
Speaking of Gold LOL
https://www.gunbroker.com/item/915421228
If you buy that I bet you will be the only kid on the block that has one! 😁Bob
The guy who won it is an NR bidder.
Its not even gold it is nitride washed.
Sam06, oh oh.
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Whether buying or selling precious metals, you get hit with a premium both ways. You buy well above spot, and sell at well below. I deal with a couple of the online bullion dealers, mostly using JMBullion. APMEX has the best spot price charts.
Yep JMB for me also. But I buy for keeping not for trying to make a literal Dollar. For a long time silver was the most undervalued metal. And if you got in last time around 13 you are doing ok. But silver in my view could go much higher as a hedge against inflation.
And at this time if you are buying for profit you will be in the twilight zone, anything can happen. Nothing is stable, nothing. But if you do not believe in the paper money and the Fed is going to become total electronic banking accounts, plastic cards, well the Fed will have TOTAL control over your life. If there is no more cash money then every transaction will be monitored to make sure there is no cheating and taxes will be paid.
Everytime I see plastic being used I just shake my head in disbelief. I have one card and I use it once a year just to keep it active and I hear some places only take plastic. Everytime plastic is used is one step closer to having the Feds but most troubling is the Banks will have ALL the money now to do with what they want. All, that is the real reason for plastic the Banks will have every Red Cent in the system. Do you think that is very smart? Was not long ago folks that they almost destroyed the whole Banking system world wide.
Sorry I do not trust someone I do not know holding all my assets, and will continue to keep and acquire real wealth in metals. And the smaller units of metals are where they make more money on your purchase. If you buy, buy at the largest unit possible.
Use cash for my daily purchases and checks for anything-one that will not take cash. No plastic, it will help destroy Freedom.
shortage due to inflation
Right, truthful - much like stocks frequent buying & selling fees/+- spot will eat up profits. I started buying metal about 30 years ago and haven't sold any. I consider it just a backup if/when SHIF. Hopefully my two boys will inherit it and thank dad.
Silver certificates are no longer redeemable for silver, so not point in buying them.
"Junk" silver is anything but junk. The silver content is known to everyone. US coins are familiar to everyone. Folks who handle cash for a living are always pulling out real silver coins when they can. And, small transactions can easily be made with circulated coins, no matter how much paper currency is inflated.
Neal