Amazed by the lack of respect for 90%

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mdcromer
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Amazed by the lack of respect for 90%

I'm really amazed by the number of folks who "diss" 90% in favor of paying spot + 25% for ASEs, etc.

I mean, you can buy rolls of dimes all day long on eBay for spot with a bit of persistence.  And you get the advantage of having fractional silver, the assurance of knowing your metal isn't counterfeit (excepting silver dollars where you have to be more careful).

What gives?

Edited by admin on 11/08/2014 - 06:09
Dr Durden
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PM perversion.  The feeling I

PM perversion. blush The feeling I sometimes get is that some just like t0 fondle and admire pretty coins over those that have been through a million hands and aren't .999. It's kinda creepy. wink

You make a valid point and I don't get it either necessarily. Is it the fact that Eagles are American that makes them more preferred? Because you can buy Maples or other Canadian mint coins that actually more pure (.9999) for the same price or less than ASE's. 

And if you're a Mad-Max-silver-barter type of person, then what the hell good is an ASE when hardly anyone will know what it is? Go ahead, carry one around in your pocket and show it to people to get a true sense of the real understanding of what silver is to people. I've only had 1 person that was able to a) identify an ASE and b) know how much it's worth. Everyone, even little kids, knows what US coins are - getting them educated on face value vs silver content value is obviously a challenge. The only argument I see in favor of owning bullion rounds is simple math for stupid people (ie an ASE is 1 oz and 1 oz is "spot').

I'm really gonna miss the days were you could get a nice dime roll for less than it costs to fill up your gas tank.

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Captain Benny
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ASE recognizability

I like drinking and when I drink I like to think.  Of course I do a lot of thinking about silver and economics.  I also carry an ASE that is somewhat scratched from carrying it with me everywhere.  I like to fondle the ASE and the other silver coins I carry when I'm in deep thoughts about silver, feeling money while thinking about money... that sort of thing.  I guess I'm somewhat twisted by the average Joe's perspective, but whatever...

Anyways, the silver is often a conversation starter at the bar as people look at it.  Sometimes total strangers at the bar will ask "What is that?"  and sometimes I get the question "Is that an silver dollar?" or even "Is that an American silver eagle?" ... yes.  People do indeed know what they are even if they've never seen one before.

I also carry various silver quarters and dimes if any discussion evolves.  If the person has a genuine interest in the topic of silver or monetary stability, I'll show them the other coins.  If they are really interested, I break out a rare three cent nickel from civil war days and explain to them a little history on why America had three cent pieces.

When I show people the silver quarters, they at first laugh and doubt they're really silver.  Then I let them clink them together to hear the differences from modern quarters.  I also show them how to identify the differences on the Washington quarters edge from modern ones.  I skip over talking about the significance of 1964 because people don't remember #s, but what they do remember after they meet me is this:  Silver is money, always has been money, is still valuable at the same amount as when it was originally made, and how to identify silver money visually.

I've only done this a couple times, but I've given away a few pieces of 90% junk to people who do something nice or went out of their way to help me out.  They don't know I'm giving it as a gift initially, instead I let them hold and see it to see their reaction to real money.  If its the reaction I expect, I ask them how much they think its worth and ensure that they know its more valuable than anything modern.  If they express interest in it, I'll gift it to them.

This does a few things and they're not all altruistic: It educates someone else about what real money is.  It seeds the thought process about what fiat money is and which one is more valuable.  That person will go home and show their family or friends their new gift and educate others ever so slightly.  And the selfish reason: It may yield one more silver buyer to hoard the hard stuff from the banking cartel, making the eventual squeeze ever so slightly more painful.

mdcromer
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Just stole some more. . .

Got a roll and 5 dimes for $2 under spot tonight, including shipping.  Gotta love Fleabay!

silversalmon
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It's a Free Market

It's a free market ( Kind of). In the 80's, during the silver run up, the refiners didn't want 90% as much as .999 silver. Extra energy cost to refine, and etc. The price of energy will continue to soar. So many people were stuck holding the bag then and will be stuck holding the bag in a run up, unless they sell to a buigger fool, no disrespect intended ( I don't actually 90% buyers are fools). Don't even mention 40% clad and 35% war nickels. If you can't sell it when you need to ( liquidity) it ain't a bargain. Also there;'s the extra weight issue and storage, that ten percent copper adds up I think. Having said all of that, I think every stacker should have some in their stack. I haven't yet, but I will get there. However, I won't be buying 1000 face or 500 face bags. Might consider 100 face, and  a few choice rolls of Ben Franks and etc.  Morgan and Peace Dollars for fun.

Ultimately we all do what we think is best for us. One day you may sit back and say, those damn fools, i made more money, because I accumulated more ounces, because I bought 90%. OR you may have the opposite experience, only time will tell. I think we'll all do fine, some better than others, but we'll all do just fine.

mdcromer
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Refiners?

I guess if one is planning to sell to refiners for industrial usage then 999 is better.

To me, silver is probably best used as money -- where old American coinage is superior to 999 rounds due to better recognizability, divisibility and circulatability.  Also, we didn't have eBay in the 70s / 80s which makes a huge difference to liquidity when going to sell.  And in the eventuality where we don't have eBay available, we're very likely to want / need to use our 90% as money directly, IMO.

lilbromarky1
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mdcromer wrote: I'm really

mdcromer wrote:

I'm really amazed by the number of folks who "diss" 90% in favor of paying spot + 25% for ASEs, etc.

I mean, you can buy rolls of dimes all day long on eBay for spot with a bit of persistence.  And you get the advantage of having fractional silver, the assurance of knowing your metal isn't counterfeit (excepting silver dollars where you have to be more careful).

What gives?

You get what you pay for.   90% is cheap on the buy side, but also resells at that same level of cheapness.

On the other side, ASE's carry a 5 dollar premium, but dealers will buy them back at spot.

The one troubling aspect of 90%, especially with the dimes and old quarter is weightloss due to wear/flattening.  Still, nothing will beat a 90% dime in a barter for bread type situation        

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lilbromarky1
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Captain Benny wrote: I like

Captain Benny wrote:

I like drinking and when I drink I like to think.  Of course I do a lot of thinking about silver and economics.  I also carry an ASE that is somewhat scratched from carrying it with me everywhere.  I like to fondle the ASE and the other silver coins I carry when I'm in deep thoughts about silver, feeling money while thinking about money... that sort of thing.  I guess I'm somewhat twisted by the average Joe's perspective, but whatever...

Not insane at all.  My buddy has a kookaburra 1oz that he keeps in his pocket, and just walks around flipping it.  If silver has an up day, he'll "accidentally" drop it on the floor to remind people that silver is real money.  Pretty comical.

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mdcromer
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What I pay for -- silver

Quote:
You get what you pay for.   90% is cheap on the buy side, but also resells at that same level of cheapness.

How many of you all are selling your silver stash?  I have no plans to do so.  And I can certainly sell it on eBay for a profit net fees, just by dividing my $5 rolls into $1 or $0.50 auctions.

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On the other side, ASE's carry a 5 dollar premium, but dealers will buy them back at spot.

Selling to dealers isn't part of my plans for my silver.  The bite is too deep for me.  :-)

Quote:
The one troubling aspect of 90%, especially with the dimes and old quarter is weightloss due to wear/flattening. 

If you buy recent quarters and Roosevelt dimes, I haven't found much wear.  Plenty of "slick" walking liberty quarters and liberty cap dimes though.

I do admit buying more of the older stuff than is financially ideal, though, simply because I like them.

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Still, nothing will beat a 90% dime in a barter for bread type situation

Yes, the fact that you pay NOTHING EXTRA for fractional silver is a huge win for 90%.

mdcromer
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Forgot to mention one last thing. . .

I can handle, rub and clink my 90%.  Wouldn't think of doing that for my son's uncirculated ASE proof which has never been out of its original protective case.  Have to admit that ASE proof is the most beautiful coin I've ever seen, though!

lilbromarky1
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mdcromer wrote: How many of

mdcromer wrote:

How many of you all are selling your silver stash?  I have no plans to do so.  And I can certainly sell it on eBay for a profit net fees, just by dividing my $5 rolls into $1 or $0.50 auctions.

--- I dont own any silver but if I did ever enter the market I think it would be wise for me to do some test sells so that I know which local dealers pay the best for ASE's, Maples, 90% etc.

Selling to dealers isn't part of my plans for my silver.  The bite is too deep for me.  :-)

--- Good point

If you buy recent quarters and Roosevelt dimes, I haven't found much wear.  Plenty of "slick" walking liberty quarters and liberty cap dimes though.

--- I'd like to run some experiments to see how much weight a roll of barber dimes loses on average vs. a roll rosevelts

Yes, the fact that you pay NOTHING EXTRA for fractional silver is a huge win for 90%.

---  Except if you are in a situation where you have to sell it to a dealer ;)

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Double Bogey
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A thin dime

The discussion on wear and tear of the 90% prompted me to pull out a few rolls of dimes to weigh and calculate the silver content. I'm probably not saying anything that you don't already know, but the results were at least interesting, and something that had been in the back of mind anyway. The potential difference in value will certainly be even more significant as the price of silver climbs. (Hey, an ounce here and there will add up as you're stacking.)

A roll of uncirculated Roosevelt dimes weighed 124.2 grams, which equates 111.78 g of silver. At $40/oz, worth $144.68. A roll of circulated Roosevelt dimes weighed 125.3 grams. (Who said grime doesn't pay)

A roll of circulated Mercury dimes weighed 122.4 grams, or 110.16 g of silver. At $40/oz, worth $141.68.

A roll of Barber dimes looks like it's missing a few, but 50 of them weighed 113 grams, or 101.7 g of silver. At $40/oz, worth $130.80. The phrase "one thin dime" was probably "coined" using a dime from this particular roll. Just sayin...

There are dealers that will sell everything at a multiple of face, but if there's wear and tear at buyback time, they'll weigh and calculate silver content. Something you'd expect more of as the price goes up.  Buyer beware.

My personal favorites are Franklin halves and Mercury dimes, and my local guy lets me pick out the ones I want.  Most of the time they have little wear, and are easily identifiable as 90% silver without looking at the date.

Turdites rock!

tread_w_care
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No disrespect here . . .

I found this guidance very helpful:

http://the-moneychanger.com/commandments.phtml

90% is your currency in America 2.0 after the greenback goes the way of the Zimbabwe dollar or German Papiermark.  Which is why everyone should have some.

 

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