Is Silver next?

[spencer rifle]

This is the cheapest 1 oz silver I've found so far - might get some if there's a dip:
https://monumentmetals.com/1-oz-buffalo-silver-round-gsm.html

 

[snorko]

I would like to hear others' opinions on sovereign coins versus generic rounds. Both have their place, I usually go off price when buying. I feel sovereign coins, mainly Eagles, Maple Leafs, Philharmonics, and Krugerrands, are inherently a notch above generic. Especially for trust when buying or selling with a private individual. Yes, anything can be counterfeit. But given a blind choice, I trust a sovereign coin over a round.

I ask today because Monument has Austrian Philharmonics for $27.76 each and Golden State Mint Buffalos for $27.50 each. Less than a 1% difference. Would anyone choose the GSM rounds over the Phils?

 

[dieselrealtor]

I am a newbie in the PM market & look to others & what I can find online.

sdbullion is paying bid + $1.00 for generics, bid + $1.50 for random year Philharmonics, B+$1.70 for 2023's.

For .20 difference I would choose the Philharmonics

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[rosejm]

Monument has Austrian Philharmonics for $27.70 each and Golden State Mint Buffalos for $27.50 each. Less than a 1% difference. Would anyone choose the GSM rounds over the Phils?

I probably would. Mostly because I prefer the Buffalo design. It's also probably one of the most recognized round styles out there. I think you'd possibly haggle a slight bit more for them over truly generic rounds. Likely there are preferred mints among them, but I can't speak to that.

IMO, there's some value in Silver Eagles & Maple Leafs (though not nearly as much as current premiums might suggest), and Libertads to the right buyer. I think you'll see far less return on that premium with Brits, Phils, Pandas or Krugerands. As always, the market varies quite a bit.

The often overlooked value of coins vs. rounds is in their tax status. Will vary by State & type/content, but an ounce that doesn't carry the King's share is an easy 5-8% discount over one that does in my book.

 

[spencer rifle]

I am not interested in the extra premiums possible with sovereign coins over generic rounds. In the situations I expect to use them (eventually) premiums and collector value will mean nothing.

I suppose it's possible I will need to sell some before that situation, and I have some sovereigns for the purpose. But it's more important that I get the maximum metal for the money. As long as it's clearly labeled.

Taxes figure into that some, since foreign coins of less that .999 are now taxed in Indiana. No more Austrian 20 and 100 Coronas for me. Too bad - the design is awesome and the premiums were low.

 

[ditcherman]

Silver questions - rather than start a new thread I thought I’d ask in here first…

Had an acquaintance approach me asking if I traded or knew anything about silver, that he had a 16 1/2 pound box of silver dollars, some sets, and also 6 maple leafs. His father was quite the collector/prepper and left them to his sons (this is 1/4 of what the dad had) and now he wants to value them to pass them or their worth on to his sons, he doesn’t want them to flip them for a quick buck and get ripped off. Trying to make the most of what was his inheritance.

Can anyone recommend how to wade though the value on these?
This guy knows what the internet is but doesn’t trust himself to value them from a google search, who can you trust to value something like this?

 

[snorko]

I got into silver when i inherited a much smaller box of mixed 90% silver. Not having and interest in numismatic collecting and knowing many coins, especially the silver dollars could have above melt value, I took them to a coin shop and paid the owner to go through them casually and pull out any potential collectables. I sold them and bought bullion since to me silver is silver.

 

[nonobaddog]

Silver questions - rather than start a new thread I thought I’d ask in here first…

Had an acquaintance approach me asking if I traded or knew anything about silver, that he had a 16 1/2 pound box of silver dollars, some sets, and also 6 maple leafs. His father was quite the collector/prepper and left them to his sons (this is 1/4 of what the dad had) and now he wants to value them to pass them or their worth on to his sons, he doesn’t want them to flip them for a quick buck and get ripped off. Trying to make the most of what was his inheritance.

Can anyone recommend how to wade though the value on these?
This guy knows what the internet is but doesn’t trust himself to value them from a google search, who can you trust to value something like this?

If they are old there will almost certainly be collector value above bullion value, sometimes very significantly above bullion value. In order to determine the collector value you have to consider the date, mint mark and condition. Condition is very important.

Someone could learn to unofficially grade the coins fairly easily. When coins are circulated certain details are worn away with wear on the coin. This is fairly consistent. With more wear, more details are worn away. You just have to evaluate which details are left on the coin and give it a rough grade such as good, very good, etc. Then you can pick a value based on the grade.
If the coins are not worn at all then you probably need a professional to accurately grade them. It is more difficult to tell an MS68 coin from an MS69 coin. (MS70 is perfect) On the other hand you don't need to know the MS grade in order to sell them, just say excellent or mint condition.
The real value would be determined by an auction or a sale.

This is 2023 - you can't trust anyone.

 

[Mij]

Numismatics are certainly different than bullion, and ASE are both. It comes down to finding a person you trust to give you a honest assessment. I only know 1 and I’ve been accumulating for about 45 years. If I knew what part of the state the box was in I could call my guy and ask him the cost for an inspection/valuation that would be legal for insurance companies.

Don’t sell thru auction, bidding ends at spot as of the day of sale, you’ll loose half the value and possibly much more. JMO.

 

[Mij]

Silver questions - rather than start a new thread I thought I’d ask in here first…

Had an acquaintance approach me asking if I traded or knew anything about silver, that he had a 16 1/2 pound box of silver dollars, some sets, and also 6 maple leafs. His father was quite the collector/prepper and left them to his sons (this is 1/4 of what the dad had) and now he wants to value them to pass them or their worth on to his sons, he doesn’t want them to flip them for a quick buck and get ripped off. Trying to make the most of what was his inheritance.

Can anyone recommend how to wade though the value on these?
This guy knows what the internet is but doesn’t trust himself to value them from a google search, who can you trust to value something like this?

Response above #1849

 

[nonobaddog]

Numismatics are certainly different than bullion, and ASE are both. It comes down to finding a person you trust to give you a honest assessment. I only know 1 and I’ve been accumulating for about 45 years. If I knew what part of the state the box was in I could call my guy and ask him the cost for an inspection/valuation that would be legal for insurance companies.

Don’t sell thru auction, bidding ends at spot as of the day of sale, you’ll loose half the value and possibly much more. JMO.

Actually I have found that common auction site to be about the best place to sell coins that have collector value. Check out the auctions for Indianhead pennies - way over "spot". You should have a rough idea of the value and if you are afraid of not getting that much, just put the start bid near that price. Good or great pictures are essential.
Part of this situation for me is because there are no good coin shops where I live - they are the ones that will screw you here.

 

[DoggyDaddy]

Silver questions - rather than start a new thread I thought I’d ask in here first…

Had an acquaintance approach me asking if I traded or knew anything about silver, that he had a 16 1/2 pound box of silver dollars, some sets, and also 6 maple leafs. His father was quite the collector/prepper and left them to his sons (this is 1/4 of what the dad had) and now he wants to value them to pass them or their worth on to his sons, he doesn’t want them to flip them for a quick buck and get ripped off. Trying to make the most of what was his inheritance.

Can anyone recommend how to wade though the value on these?
This guy knows what the internet is but doesn’t trust himself to value them from a google search, who can you trust to value something like this?

You might check with @Tyler-The-Piker . He has a coin shop that he does business with out in Greenfield that he's happy with. They might be a good place to get an apprasial.

 

[ditcherman]

Thanks for all the responses here!

@Mij they’re north indy, close enough that if we go to through them some and see they need further evaluation i.e. not absolutely new or not terribly worn I can get then to your guy, assuming he’s not far from you.

Thanks again all!

 

[spencer rifle]

Gold in free-fall at the moment, silver not quite as much.

ETA: Got some of these on the dip (I hope):
https://monumentmetals.com/1-oz-buffalo-silver-round-gsm.html

There were slightly cheaper ones at Bullion Exchanges, but when I went to order, they only had 2 in stock.

 

[Mij]

Back in the green, hope you guys bought the dip. 12:36 5-17-23.

Physical traders (me) you guys aren’t getting any slack.

 

[blain]

View attachment 276455
Gold in free-fall at the moment, silver not quite as much.

Do you think some "official" or "staffer" called a generic investment bank and said...
"Listen, people are converting too many fiat dollars into gold & silver.
You guys over there at your generic investment bank do what you do, to settle people down. We'll take care of you and will make sure you get more business coming your way. Ya know, some of these regional banks are looking a little sketchy."

Any hinky Au futures orders entered lately?

On a totally unrelated subject.
US Dept of Justice, Aug. 10 2022:
Former J.P. Morgan Traders Convicted of Fraud, Attempted Price Manipulation, and Spoofing in a Multi-Year Market Manipulation Scheme

 

[spencer rifle]

Monument is now out of the Golden State Mint silver rounds.

 

[.300 dadbod]

Just wanted to say - I've lurked here on INGO for a while now (years) and after reading through all 90+ pages on this thread it really does serve as a primer of sorts. I started stacking a couple months ago. Appreciate yalls knowledge and input

 

[Mij]

Just wanted to say - I've lurked here on INGO for a while now (years) and after reading through all 90+ pages on this thread it really does serve as a primer of sorts. I started stacking a couple months ago. Appreciate yalls knowledge and input

Cool, keep it up. Cause when the Fed. Res. house of cards falls your gonna need something.

 

[lrdudley]

My birthday was yesterday and my wife's birthday is today and we each received one of these special 1 oz silver rounds. There is no doubt in my mind the value of these two rounds will far exceed the value of our everyday silver rounds.