Silver Eagles or Silver Rounds?

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jackmeoff
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Silver Eagles or Silver Rounds?

I own both but am starting to lean to the US minted items more and more. I started doing some homework on confiscation ( not that it will happen but I dont know that it cant either) and found the gold bullion coin act of 1985 which makes US gold eagles and US silver eagles numismatic coins. Just wanted to get others thoughts on the over spot price and if it was really worth it or not. I will be going to all gold eagles because I can get out of my South Africans into eagles for only a $25 difference but my silver is another story as I have tons of rounds and bars and at 4-5 over spot per oz it makes it cost way too much. Might trade when the gold to silver ratio gets back towards the 30-1 or lower and change them into more gold.

Edited by admin on 11/08/2014 - 05:10
silvernomics
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I bought 1/3 eagles, 1/3

I bought 1/3 eagles, 1/3 maples and 1/3 rounds in 2003

I regret buying the rounds as they will be harder to liquidate.

jackmeoff
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@silvernomics

I know what you mean. The price I paid over was great for my rounds but at the same time its not like the premium on eagles are going down. I am only going to buy the eagles from now on and only if I can get them at a good price. I do have some maples but I shipped them to my brother to hold as he lives in Canada and that is my worst case go to location.

Jerome
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ASEs and premiums

I don't believe that any silver will be difficult to liquidate. ASEs will likely bring a premium when selling whereas the rounds (or generic bars) will not. I am concerned about my 100 oz bars, thinking that a buyer will want to assay them when silver gets over a certain price. 

silvernomics
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It depends what kind of

It depends what kind of rounds you have. Not all rounds were created equal.

Unfortunately, the ones I got were from, originally, I believe, the CMC Mint, which is not really where you want your rounds to have come from. They are a little on the light side, which isn't good, and one dealer I took them to wasn't sure if they were silver. I had them assayed and x-ray tested and they're silver alright, but not the kind of silver a dealer is necessarily going to be jumping over himself to buy.

If you are going to buy rounds, I would say, make sure you stick to well-known rounds. I'm not sure what qualifies as well-known. There are one or two more reputable private mints out there, the ubiquitous buffalo round (warning: my ones were a different type of buffalo; buffalos alone do not mean anything) and of course things like the Great Panther and First Majestic rounds.

I bought mine online from an intermediary, hence I got stuck with crap rounds.

unum mountaineer
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bingo

youre spot on. its all ag. its about what the other person is willing to give for the silver round, bar, ase's, 90% & 40% coins. depends on the situation. do you have a test kit?

MelloYello
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+1 on dumping bars for that

+1 on dumping bars for that very reason.

ASEs. And some smaller fractional rounds (Gainesville Coin American Buffalo) just for the hell of it - for potential SHTF. Actually using most silver coins for necessary goods might be like dropping a $100 bill for a stick of gum under said SHTF. Not really interested in stacking vintage coins. I prefer to see the weight/content stamped on the coin - or rather, I prefer to have the potentially non-educated recipient see those markings. Might make things easier.

jackmeoff
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Test kit

I have been drilling mine. I use a small bit which is almost not visible to the eye and test the core of the rounds and up to my 10 oz bars. All are from well know refiners ( sunshine, engelhard, jm and such. I do have some 100 oz bars but those are the first to go if g/s ratio gets back to around 30 or so. I also use a scale when I buy just to make sure that the weight is right (31.1-31.2 grams). I am not a big fan of the test kits when it comes to silver as I just dont think they are all that accurate.

PaPaSpeed
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Stacking

I haven't been stacking all that long, but I have been alternating between Eagles and Maples (50/50). I was considering adding rounds next, but from the sounds of it, I just may stick with Eagles in the future. 

Any thoughts on silver dollars, halves, quarters?

silvernomics
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Maybe it's different in the

Maybe it's different in the US, but in the UK there just isn't much of a retail precious metals culture, and it's even thinner on the ground for silver because of VAT.

So it can be a real problem to get your silver liquidated. If you have an obscure round you might struggle to find a dealer to buy it at all.

spudboy
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Are ASEs worth the extra premium?

If things get real rough I expect that numismatic and even semi-numismatic coins (like ASE's) will lose their premiums or at least have them severely diminished. In the past year or two premiums for numismatics have gone down in comparison to plain old bullion, according to several articles I have read. Numismatics also have a smaller potential number of buyers because their appeal is more specific. I only buy generic rounds, and refuse to pay a premium for fancy coins. In the end I figure the idea will be to obtain the largest number of ounces for the least amount of money, and when people are hungry and local law enforcement is significantly compromised due to severely slashed budgets, no one I sell my silver to or barter with is going to care one bit whether my bullion has a koala, kangaroo or Elvis on it.

I would add that every coin I buy has to say .999 silver and 1 ounce, or whatever the amount of silver is contained within it. That way there is no mistaking exactly what the coin or bar contains.

Stomptoad
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Some of everything...

I have rounds, ASEs, and bars. I think the key is to get the well known brands that are easily recognizable by anyone that deals in PMs (Sunshine, Engelhard, JM, etc.).

Silvergunn
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Have a diverse mix within your stable

Diversity is key and like what was stated, "the larger the bar, the first to go".

I recommend 90% silver gov coins (Dimes #1 and Quarters #2...) they might be a bit worn, but they will be known.

Keep on stacking, {it's a bull market you know! (Jesse Livermore)}!!!

With price controls enacted in Belarus lately, so US Dimes are small and tradable... it's insurance right.

tmosley
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In my opinion, you should

In my opinion, you should have both.  I accumulate ASEs when the premiums are low, and trade them for rounds when they are high (negotiate with your dealer to make trades rather than a sale and a buy so you don't realize any gains).  The see-saw action of the premiums will eventually leave you with more silver than you would have if you had just let them sit.  I traded quite a few ASEs for quite a few more nice looking rounds on the last run up on premiums.  Might start cycling back into them if the premiums fall a little more.

Prize Fighter
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"Fine Silver"

spudboy wrote:

.....

I would add that every coin I buy has to say .999 silver and 1 ounce, or whatever the amount of silver is contained within it. That way there is no mistaking exactly what the coin or bar contains.

And to this point, ASEs only say "10z. FINE SILVER" same as a Britannia.  Nowhere on them does it say .999.  Though I know "fine" is .999, its worth noting.  Maybe it's nothing.

Dr G
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I'd go for rounds that are

I'd go for rounds that are reputable. Spending the extra $2-4/oz (and sometimes more!) just doesn't makes sense to me. Get the most bang for your buck. At the rate of current ASE premiums, you can get an extra oz for every 8-9 oz of rounds you purchase.

If the government thing is big to do, then get Phils. I've fallen in love with Phils and usually am able to get them for 40 cents above the generic rounds. To me that 40 cents is worth it, while it is still $3 less than the Eagles.

uptofreedom
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I love my junk...

ASE's will sell for a premium, but so will any U.S. coinage.  The premiums to buy junk are the lowest, so all things considered junk's the most cost effective, imo...

Fighting Gael
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Are ASEs worth the extra premium?

absolutely not worth the premium...

u can get more 90% or generic and over time it adds up...

when silver was 9-10 bucks ase premies were +5 or so, going old rate was for +1.50 for a long time

so +- 10% in premium...........now its also over 10% again sometimes it was as high as 20% premium

just think if silver does ever trade at +100, r people going to pay 10-20 % premiums???

no way .....as price goes up higher....premies will vanish.....

esib100oz
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I'm all in ASE 2011, but only

I'm all in ASE 2011, but only because I plan on moving to utah at some point. 90% is great and may even be in demand later if people continue to melt theirs. You can't lose when you buy silver.

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Seacap81
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I would purchase in this

I would purchase in this order:

1) U.S. Junk silver 2) ASE and 3) rounds or bars.  As this country returns to it's constitutional founding, original us silver coinage (1964 and earlier) will find it's heyday and be very much in demand.  Junk silver will one day carry an ever increasing numismatic value as Americans long for sound money and remember the time it had it.  Junk silver will be a rejoinder to America's more glorious days, a journey into nostalgia.  Those "silver" years past will be fondly remembered and it's coinage in high demand.  And as someone already mentions, junk silver is on sale everyday - it really is the best value out there.

I like American Eagles too but not as much as junk silver.  Btw, we need to come up with some other term then "junk silver".....just doesn't fit.  ASE are legal tender as well and will do well in economic chaos as they are easily recognized, US minted, and it's weight and silver content undisputed.       

westernthing
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For Gold I'll buy Eagles or

For Gold I'll buy Eagles or Maples.

For Silver, Rounds or Bars. Heck, my Engelhard extruded bars even bring a small premium.. Go figure!

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