After looking at 2015 silver thread I checked market. Is this a good deal?

Discussion in 'Survival/Preparedness Forum' started by larry_minn, Nov 4, 2019.

  1. PeterG

    PeterG

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    Melt is $18.60 so that’s a whopping premium


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  2. SilverCity

    SilverCity

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    Melt value is hypothetical not practical if you want to run a business. What idiot would melt Morgan dollars? No one because you turn a recognizable US historical coin into an unrecognizable lump of metal that must be assayed to determine purity and value and that makes very poor business sense.

    Investors and retailers rely on the spot market which is rigged as hell but it provides some reasonably reliable price in which the markets can operate. Coin dealers can lose their a$$ too when the corporate bankers play their games. No one will to stand up to the blatant fraud including all the politicians whose campaigns are funded by them--even those who sit in the White House.

    Reporter to FDR when he signed Executive Order 6102, "Why are you doing this?" FDR replied, "Because that's what I was told to do."

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    Last edited: Oct 17, 2020

  3. PeterG

    PeterG

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    According to Coinflation melt value is a dealer price.

    I see no advantage to paying a bigger premium on dollars than Eagles, when buying for bullion.


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  4. FoodBag

    FoodBag Previously nutsnax

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    Metal is insurance.
     
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  5. SilverCity

    SilverCity

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    Exactly how many dealers are desperate enough to dump it at that price? I wager not many. Unless it is a bankruptcy. I've checked a few coin dealers in my area over the past couple of months and they were sold out of all silver. They may acquired a bit since then but I haven't checked. Recently visited a larger dealer in Tucson and he had maybe 100 ounces of miscellaneous bars, rounds, 90%, and some slabbed coins. Call a dealer in your area and ask him if he is willing to sell at that price. Then get back to me with a phone number. I will gladly buy his Morgans @ 18 bucks.

    Buy whatever turns your crank. I have plenty of Eagles, bars, 90%, rounds but few Morgans and that is what I want now. Argue your case over on a legitimate gold/silver forum and see how much traction you get over there.

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    Last edited: Oct 17, 2020
  6. SilverCity

    SilverCity

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    Quote: Although rarely ever sold at or near their silver melt values, here we break down the content of silver Morgan Dollar Coins.

    With an over 650,000,000 million Morgan Dollar Coin Mintage, most of the yet to have been melted Silver Morgan Dollar Coins remain in silver collector hands and collections.

    Carrying a legal tender face value of $1.00 US dollar, these older 90% silver coins maintain values well above a fully fiat $1 Federal Reserve note bill or digital credit entry.

    Most of the Morgan Silver Dollar Coins being bought and sold today have higher premiums over their silver melt values due to their rarity and silver coin collector demand.

    People buy them at higher prices because they want them. It's called consumer demand.

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    Last edited: Oct 27, 2020
  7. bdcochran

    bdcochran

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    1. well said - whether metals, guns, knives, cars, significant other.

    2. the long term, historical return on investments is supposed to be about 2%. If you make 2% after calculating taxes and lost interest while your money is sitting in an investment and inflation, you are doing well.

    3. If you had bought silver at the asking price in 2015 and sold it today at the buying price and factored in inflation and taxes, would you have made money? For me, what I spend on bullion is not an investment. It is simply insurance (if the government or the kid the street doesn't take it from me).
     
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  8. SilverCity

    SilverCity

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    QUOTE: If you had bought silver at the asking price in 2015 and sold it today at the buying price and factored in inflation and taxes, would you have made money?

    If I was a trader I would have bought ETFs and sold when I had doubled my money. Not many have that discipline. Most folks buy at the top and sell at the bottom when they are discouraged. At 24 bucks I would buy. A 20% "correction" from $30 in paper silver is nothing. It's the big boys taking a profit. A few bucks over spot for Morgans is buying territory for me.

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    Last edited: Oct 17, 2020
  9. Lampshade

    Lampshade

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    Couldn't agree more. If maximizing one's financial position is the goal, I'd take generic or junk silver over the eagles too.


    View: https://www.youtube.com/watch?v=yLkYedrPCzY
     
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  10. SilverCity

    SilverCity

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    Some junk silver/bullion prices for example. The premium is about average.

    Apmex $5 roll dimes--$26.64 oz/1 oz bar--$27.76
    JMBullion $5 roll dimes--$27.66 oz/1 oz bar--$27.30
    SDBullion $5 roll dimes--$26.43 oz/1 oz bar--$29.36
    (plus tax and shipping)

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    Last edited: Oct 29, 2020
  11. SilverCity

    SilverCity

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    edit
     
    Last edited: Oct 29, 2020
  12. AbeFroman

    AbeFroman

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    I recently lost all my silver eagles in a boating accident. My goal, before the boating accident, was when I retire To take a hundred ounces here and there to a coin shop and trade it for cash. I could then use that cash to take Mrs Mantooth out once a month for a nice seafood dinner.

    besides being heavy (silver sinks fast when it falls overboard), the worst thing about silver is the stupid coin shop doesn’t even have the courtesy to give me a 1099 when I sell. They pay me in cash and then I have to “self report” my gains. At least my 401k provides me with a 1099 so I can make sure I pay my taxes properly.
     
  13. Lampshade

    Lampshade

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    And I'm sure an equivalent rate of return long term too!
     
  14. BuckeyeGlock77

    BuckeyeGlock77

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    I’m bitter.