Right now all my silver "stacking" is with 90%. Just ordered my first three silver dollars.
For whatever reason having a bunch of circulated 90% coins, just does it for me way better than ASEs (although I do enjoy looking at my son's 2004 ASE proof, what a beauty!)
Any of the rest of you totally caught up in stacking historical coins over their modern bullion counterparts? I think I'm gonna start targetting historical gold coins -- own two sovereigns already and looking to start adding some pre-32 eagles and the like. . .
I'm with you! Most of my silver is 90% coins, including silver dollars. Mostly Morgans.
On the gold side, I have ZERO modern bullion coins. Used to have some years ago and traded them all in on the older stuff. More history, more character, more fun.
Pre '33 $10 Eagles and $20 Double Eagles. British Sovereigns. French and Swiss 20 Francs. German 20 Marks.
I like to think about where the coins are from, the history of that place and time. Was this coin passed hand to hand through a war zone somewhere? How many times did it slide across the bar? Let the imagination run wild.
I'm a little bit of everything type of guy, but have a good stack of a variety of coins. Just picked up a few rolls of quarters tonight under spot, actually.
If you want to get people hip to the idea that silver is still money, try using it as such or give it away. I give coins as gifts and have paid a few people with silver coins. No you cannot walk into a store and "spend" it [why would you anyway? give them your poop paper] but you can use it as currency. Try it.
90% coinage is by far and away the best way to accumulate wealth. As they say about land in the Realtor profession - "they aren't making anymore of it." You pay only for it's silver content but it's numismatic/nostalgia value rips and roars as the years pass by. I do expect 90% coinage to become the first silver to disappear, followed shortly by ASE's. I also expect in time for 90% to carry increasing premiums to rounds and bars much like ASE's already do. In time, in time. Just imagine what will happen when just the precious metal of silver alone becomes scarce, 90% will go to the moon. I believe the 1964 silver dime is already the new 100 dollar bill. Again, in time. Just keep stacking, it's a no-brainer as they say!
You can buy the modern commemorative silver dollars in proof and unc. for the same price as circulated morgans and eagles. They are identical in silver content. Look for them in pawn shops and coin shops.
I like the 90% as well, buy them often. Also am stacking nickels and copper pennies just like I stacked silver coins as a kid.
I go for pure silver/gold content, as that is all that I think will matter in the end. For that, silver dollars are terrible, as are US gold coins. I'll stick with the 50 cent pieces and smaller for junk, and modern coins (Krugerrands) for gold.
I love 90% especially Peace Dollars. A while back I was stacking a lot of dimes, quarters and halves but I have returned to my first love, ASE's.
When the mood strikes, I will stack 90% again.
I'm seeing silver dollars for about $30 each shipped on ebay when bought 3-5 at a time. That's around $39 an ounce, shipped -- a $4 premium over the silver price. Doesn't seem unreasonable to me to pay an extra $12 for three over having yet more (yawn!) Washington quarters and (zzzzzz) Roosevelt dimes.
Now I wouldn't buy hundreds of them with that premium but I do truly enjoy having some in my stack.
It's just me, but I'd much rather pay premium for something with character and history than for mint bullion coins.
The sovereigns I paid less premium than I could get modern bullion coins for so I jumped on that deal (also would rather have fractionals than full ounces).
Your comments are to be respected. I have stayed away from all Au products with oddball content such as sovereigns 50 peso etc. Am I overly cautious? Also I love 21 Morgans and Peace, but the Peace dollars seem to be thinly struck. Maybe I should view them as delicate.
I have both junk silver and ASE's. I love the feel of a solid ASE in my hand, and they are very pretty. I have a stash of silver dimes that I will use for barter or as the "new $100" if/when things get to that point. But I totally agree with Eric Original on the historical aspect of the older junk silver or gold coins. I love holding a 100 year old Silver morgan in my hand and wondering where it's been, who's pockets or hands it has passed through, what stories they'd tell if they could, etc.
When I have a relatively large amount of fiat, I'll buy more ASEs or maple leafs. When I just have a little paper, I go for the morgans, franklins or kennedys.
I've seen the arguments against the odd content coins. People are more comfortable with precisely marked 1 oz, .5 oz, etc. coins. Easier to sell, people can't do the math, etc.
I think it really all depends on what scenario you envision down the road when you might need to sell some gold. If you think that we might go mad max, where you literally will be forced to barter a coin for a set of tires, then yes maybe those arguments hold water.
If you think any sort of normality will remain, then chances are that any selling you do will be at a local coin/jewelry shop. These guys see it all, and don't bat an eyelash. .2354 in a Sovereign, .1867 in a 20 Francs, they see this every day of the week and have no trouble figuring it out. It's their job. In fact this stuff is relatively easy. A lot of their days are spent looking at chains, rings, earrings, 14 karat, 18 karat, mystery karat, dental gold, you name it. And they handle it all smoothly and professionally. As far as they are concerned, gold is gold.
So, it depends on your outlook. I'm not shy about telling people what kind of gold I like, but I don't mean to say that it's right for everyone. If you are more comfortable with the modern bullion, then go for it. Or maybe some of each. A couple of old St. Gaudens Double Eagles by your nightstand to jingle around, and a roll of modern Gold Eagles tucked safely away. Gold is Gold. Silver is Silver. The important thing is to HAVE SOME! :)