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dealer buy back

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Hello All,


I am new to coins I just got a 2012 S silver eagle set the early release (PF69 ultra cam) and the reverse proof (PF 70). While I was there I couldn't help but see the silver bars. So I ended up getting 26 1 oz bars.


I understand why people collect coins and I know they will always have value because there will be people that want to collect them but why is silver not higher ?


And why are the coins worth so much more than the bars?

When you buy you pay what ever fee they have above spot I paid .89 over spot. If I decide to sale my coins they will be there value but what value would I get for selling the silver bars spot?


Thank you for your time and help

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Welcome to the forum.


Coins of the type you bought typically trade at higher premiums than bars because there are more collectors of and more demand for the coins.


However, just as it is not a given that you will get a particular price for your bars when you try to sell them, it's not a given that you will get a particular price for your coins. Try to sell those coins back to the dealer and see what you can get for them. ;)

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First, welcome to the neighborhood and thank you for your service to our country!


I hate to be the bearer of bad news, but terms like "Early Releases", "First Strike" and "First Day of Issue" are merely gimmicks that have no bearing on the numismatic value of a coin. Furthermore, if you can't tell the difference between a 69 and a 70, you could save yourself some more money by buying the 69.


Unfortunately, you missed the feeding frenzy on silver by a few years. It started rising in 2005 from about $6/oz. to a high of almost $50/oz. I think it might be a while before it starts going back up again.



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Bullion is a commodity. It's worth whatever people are willing to pay for it on that day, that hour. The price changes constantly. Every ounce is the same. Yes the little bars are pretty and there are a few 'art bar' collectors, but mainly interested in the very oldest bars. There's no premium when selling the modern stuff.


Spot is a theoretical price for large trades. Buying retail you pay a little over spot, selling retail a little under.


So to make money on your 1 ounce purchase, silver spot has to go up enough so that the discount when selling makes your net above the premium you paid buying - in your case, silver needs to rise above about 18.90 (about 10.5%) for you to make money.

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