Gold and silver prices are down

[76Too]

The junk silver fits in with the barter scenario too. A .gov issued silver quarter with the patina of age on it is pretty hard to counterfeit

Think you might have missed my question...how do you buy them...not why.

 

[FreeWillie]

Think you might have missed my question...how do you buy them...not why.

Most of the major dealers offer 90, 45 and 30% coins (commonly referred to as "junk" silver). Check their sites.

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[Varmint]

How do you guys buy your junk silver? And are the prices on eBay pretty much the going rate (ie $150 for $10 face value of coins)...just seems crazy that I could pay a little more and get silver eagles at .999 pure for similar face value.

go by weight, not face value - junk silver is more expensive than ASEs right now, we covered this earlier in the thread - high demand and low supply seems to be the reason.

 

[Coyote33]

Both. 75% Govt coins, 25% generic

Right now, I've been just buying government issued coins. I find the Philharmonics to be usually the least expensive on JM, have the same amount of silver as other coins, and are aesthetically pleasing. Then again, anything on sale is cool with me. I like the Armenian Noah's Arks too. ...

Wait, what are "government coins"? You mean pennies, nickles, dimes, quarters, and the fake gold dollars?

I collect real silver with pretty pictures on them....as long as the bullion is real I'm happy

Define real. I'm serious. I am now totally confused.

... dealers (like Boston Bullion) typically have set prices above (or below) spot that they will pay for silver. They might pay 75 cents below spot for generic rounds, and $1 above spot for govt. issued coins....

If you are a doomsday type, and believe you will someday be trading silver coins for bushels of corn, then you will need to convince the corn-guy that your silver is legitimate. In that case, Eagles and Maples might give an advantage over something from the other side of the world that he has never seen. Or generic rounds might be just fine, as an ounce of silver is an ounce of silver.
...

So, you buy these "govt. issued coins" at a premium because they might be worth more, but then again, who can trust any of that, so then they really are NOT worth more? ???

How do you guys buy your junk silver? And are the prices on eBay pretty much the going rate (ie $150 for $10 face value of coins)...just seems crazy that I could pay a little more and get silver eagles at .999 pure for similar face value.

As long as you trust one as much as the other, which I can't see why not, I'd say price per weight is the final deciding factor.

The junk silver fits in with the barter scenario too. A .gov issued silver quarter with the patina of age on it is pretty hard to counterfeit

go by weight, not face value - junk silver is more expensive than ASEs right now, we covered this earlier in the thread - high demand and low supply seems to be the reason.

Why would junk silver be in higher demand than the stuff you say has a name brand associated with it? Especially when people don't trust how legitimate that name brand is?


Maybe just buy another couple revolvers and put in the safe for future value.

 

[Robert J]

I believe the thought is there is not a lot of counterfeit 1960 quarters vs *bay plated bars. In a trade for a few eggs a stack of 1962 dimes is more trusted than a bar from some unknown source.

At one time there were a lot of fake bars being sold, I don't know if that is still as much of an issue anymore.

If your trading metal for goods providence becomes a factor in the trade between strangers. A metal dealer will have a test kit, Sally 3 miles down the road might not have access to one or a scale.

 

[Coyote33]

I believe the thought is there is not a lot of counterfeit 1960 quarters vs *bay plated bars. In a trade for a few eggs a stack of 1962 dimes is more trusted than a bar from some unknown source.

At one time there were a lot of fake bars being sold, I don't know if that is still as much of an issue anymore.

If your trading metal for goods providence becomes a factor in the trade between strangers. A metal dealer will have a test kit, Sally 3 miles down the road might not have access to one or a scale.

So, if a test kit is involved, what is stamped into the silver really doesn't matter then, right? In that case WHY NOT go with the Homer Simpson .999 1 ounce bars? Or am I missing something?

 

[Rob Boudrie]

So, if a test kit is involved, what is stamped into the silver really doesn't matter then, right? In that case WHY NOT go with the Homer Simpson .999 1 ounce bars? Or am I missing something?

The metal dealer knows he will be able to get a higher price for Eagles than Homers.

The question is not "is there a premium", but how much. I'll bet you'd pay $.01 more for an Eagle than a Homer, but not $10.00. It's like that old joke about prostitution - the only issue is "what is your price?".

 

[enbloc]

.

 

[Billsail]

So, if a test kit is involved, what is stamped into the silver really doesn't matter then, right? In that case WHY NOT go with the Homer Simpson .999 1 ounce bars? Or am I missing something?

If a test is required, it costs the tester time, and a small amount of money for chemicals. This cost is passed on to you, the seller. Government coinage/bullion is generally is trusted, and therefore not tested.

 

[SquirtGun]

Link not working

Not the worst beginner video:
[video]https://r12---sn-4g57km7r.googlevideo.com/videoplayback?pl=16&requiressl=yes&expire=1439974402&nh=EAU&lmt=1312373807810308&signature=D4884D97EE2B022B7473AC1B6650D103FD3E2B48 .35E4D43B7DD3AED8416B0BC8A3C1D643D9ABDD40&ipbits=0&mime=video%2Fwebm&key=yt5&itag=43&mt=1439948046&mv=s&ms=pm&fexp=9406003%2C9406193%2C9408086%2C9408513%2C94087 10%2C9409069%2C9409097%2C9412773%2C9415053%2C94153 65%2C9415485%2C9416023%2C9416104%2C9416126%2C94165 15%2C9416985%2C9417133%2C9417689%2C9417707%2C94181 53%2C9418340%2C9419445&dur=0.000&upn=rhuwhKXe7ew&mm=35&source=youtube&mn=sn-4g57km7r&sver=3&ratebypass=yes&id=o-ALZp00WCsop_vcrYKpXjv8IIIHFtS4k4GOHoW935g-SB&sparams=dur%2Cid%2Cip%2Cipbits%2Citag%2Clmt%2Cmime %2Cmm%2Cmn%2Cms%2Cmv%2Cnh%2Cpl%2Cratebypass%2Crequ iressl%2Csource%2Cupn%2Cexpire&ip=71.174.28.120&cpn=1UxgQRTp5qPQIfo1&ptk=youtube_none&pltype=contentugc&c=WEB&cver=html5[/video]
~Matt

 

[CoastieRon]

What would you pay for this BMF? I may have an opportunity to pick this up.

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[Billsail]

What would you pay for this BMF? I may have an opportunity to pick this up.

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I wouldn't touch it. Larger bars have a greater risk of having other metals secreted into their interiors.

 

[CoastieRon]

I wouldn't touch it. Larger bars have a greater risk of having other metals secreted into their interiors.

So, it's my cousin's bar, where do you think he should bring it.


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[Billsail]

So, it's my cousin's bar, where do you think he should bring it.


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I would try a local place. Most coin shops pay spot. You must have one near your Lat-Lon.

 

[CoastieRon]

Yeah, I told him Nashua Coin and Collectables. Told him to watch the spot, and make sure they don't try to give him a price for 50oz instead of 50 Troy ounce (approx 54 oz)


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[Billsail]

Spot price is for troy weight.

 

[CoastieRon]

Well then lol


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[enbloc]

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[enbloc]

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[CoastieRon]

Sunshine Minting - 50oz .999 Fine Silver Bar
These 50oz Silver bars feature Sunshine Minting's logo, showing an American eagle flying in front of a shining sun.
On the reverse is the Sunshine Minting logo.
This 50oz Silver bullion bar measures 5 1/4” long, 3” wide, and 5/8” thick.

http://metalcom.co.za/index.php?route=product/product&product_id=52

Check your measurements against the above. If the same, and the weight is 50 troy oz's (1555.17 grams) she's real.

Buy the way, your specimen is exactly what I would expect to see with a bar this old. It is one of the early Sunshine 50's.
Those "dings" are what old, heavy weight silver bars look like. It ain't jewelry folks...

I'm probably going to buy it from him. He's in the middle of nasty custody crap..


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[enbloc]

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[CoastieRon]

I would.

Yeah, it's a done deal.


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[Ezra]

What would you pay for this BMF? I may have an opportunity to pick this up.

What is the dust on this that appears to be all over this? It looks to me like it was carved out of foam, and there bits of it everywhere, including on the table. If enbloc says its supposed to look that way, OK fine, assuming the dimensions and weight are correct. But it looks really strange to me. Doesn't look anything like the way silver tarnishes. I would expect a smooth surface, but possibly with some black tarnish.

If you hit with compressed air, would that dust fly off? Or is it stuck to it, like rust would be?

 

[xtry51]

That looks like sand to me, not dust. Maybe they were buried somewhere.

 

[CoastieRon]

I'll have more info tomorrow when I get a closer look. Cousin works in waste management. Probably was in the trash/metals separator.....

 

[ToddDubya]

Wait, he found it?!?!?!?

 

[CoastieRon]

Wait, he found it?!?!?!?

Happens more than you or I think apparently....

 

[enbloc]

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[CoastieRon]

Nah, it's going in the "box" just the way it is.


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[enbloc]

I like the cut of your jib...