What's in a name? 2 2

[GoldFinger1969]

On 3/26/2022 at 6:31 PM, J P Mashoke said:

I think Kurt is correct if you are trying to sell to a dealer.. If you sell privately or at auction you may get a better return. Every dealer I talk to hate gold and silver bullion graded or not most only keep it in there shop to please there regular customers.    

Unless they have active buyers, you're probably right.  But I would sell at a show or online. 

[VKurtB]

On 3/26/2022 at 11:19 PM, GoldFinger1969 said:

Unless they have active buyers, you're probably right.  But I would sell at a show or online. 

This all makes graded ASE’s among the absolute worst numismatic “investments” imaginable. They are a nearly guaranteed loser when in TPGS plastic. 

[GoldFinger1969]

On 3/27/2022 at 12:26 PM, VKurtB said:

This all makes graded ASE’s among the absolute worst numismatic “investments” imaginable. They are a nearly guaranteed loser when in TPGS plastic. 

Maybe...but I didn't buy them as investments.  I just bought 1 or 2 here-and-there because I liked the design, like the Saint-Gaudens UHR commemoratives.

If I was buying 100 ounces of silver, I'd never buy 100 premium or slabbed silver pieces.  Maybe 5 or so...the rest would be the closest to spot silver in price.

[JT2]

On 3/27/2022 at 12:26 PM, VKurtB said:

makes graded ASE’s among the absolute worst numismatic “investments” imaginable.

Do not fall for it!!!  keep all ASEs in OGP!!!

[VKurtB]

On 3/28/2022 at 9:18 AM, JT2 said:

Do not fall for it!!!  keep all ASEs in OGP!!!

…or for the bullion strikes, MAYBE in a real nice non-PVC flip. Like you prepare them to go to NGC, but you never send them. 

[J P M]

On 3/28/2022 at 10:30 AM, VKurtB said:

…or for the bullion strikes, MAYBE in a real nice non-PVC flip. Like you prepare them to go to NGC, but you never send them. 

I keep all mine in airtight holders. I am just waiting for that black foam ring to turn them gold some day.

[VKurtB]

On 3/28/2022 at 12:46 PM, J P Mashoke said:

I keep all mine in airtight holders. I am just waiting for that black foam ring to turn them gold some day.

Not a bad alternative, but I am petrified with fear of foam rings anywhere near my coins. 

[Woods020]

Unless silver goes up significantly it’s rough to break even if you sell ASEs. After you pay a premium then sell without the premium you will do well to recoup. That goes for raw bullion to slabbed commons. A few exceptions here and there for 70s or scarcer coins like the 2020 v75 or the key date coins. 

[J P M]

On 3/28/2022 at 5:00 PM, VKurtB said:

Not a bad alternative, but I am petrified with fear of foam rings anywhere near my coins. 

Ya I know what you mean, these rings are more like a rubber. Even though they are made for coins I still check on them to be sure.

[VKurtB]

On 3/28/2022 at 4:25 PM, Woods020 said:

Unless silver goes up significantly it’s rough to break even if you sell ASEs. After you pay a premium then sell without the premium you will do well to recoup. That goes for raw bullion to slabbed commons. A few exceptions here and there for 70s or scarcer coins like the 2020 v75 or the key date coins. 

Not to mention the 1995-W proof. Oops, I just did. 

[Chris Mikesh]

Those ASEs are beautiful.  I have one of every year, and still trying to fill in some reverses or proofs.  slowly but surely...

[Walter Holmes]

On 3/26/2022 at 6:43 PM, VKurtB said:

I am speaking specifically of American Silver Eagles. Dealers pay ZERO premium for any of them. But they ALL charge premiums for any special anything. 

That’s changing because the silver bullion secondary market has dried up. For the last two years most bullion sales have been new product. Since people are not selling some distributors are now offering $6.00 over spot for ASE’s to satisfy demand. Of course,  the down side is the ask price premium is in the range of $11 to $18 over spot.

Edited March 29, 2022 by Walter Holmes

[VKurtB]

On 3/28/2022 at 8:58 PM, Walter Holmes said:

That’s changing because the silver bullion secondary market has dried up. For the last two years most bullion sales have been new product. Since people are not selling some distributors are now offering $6.00 over spot for ASE’s to satisfy demand. Of course,  the down side is the ask price premium is in the range of $11 to $18 over spot.

A few months ago I had 50 ASE’s to sell and the HIGHEST offer I got was spot. Most dealers offered BELOW spot. 

[Walter Holmes]

On 3/29/2022 at 10:59 AM, VKurtB said:

A few months ago I had 50 ASE’s to sell and the HIGHEST offer I got was spot. Most dealers offered BELOW spot. 

The next time reach out to me if I’m not interested I will refer you with a letter of introduction to an authorized US Mint bullion buyer who will be. They’re located in the US

[J P M]

On 3/29/2022 at 11:45 PM, Walter Holmes said:

The next time reach out to me if I’m not interested I will refer you with a letter of introduction to an authorized US Mint bullion buyer who will be. They’re located in the US

I would take a wild guess and say VKurtB has known more Numismatic dealers and collectors than I will ever know in my lifetime.

[VKurtB]

On 3/30/2022 at 6:05 AM, J P Mashoke said:

I would take a wild guess and say VKurtB has known more Numismatic dealers and collectors than I will ever know in my lifetime.

I do, and about 75% of them do not make me proud to know them. Look, I get it. Overhead is more expensive than it ever has been. Even being a show dealer is rough on overhead, if it’s a good show. But I also know MANY dealers who live lavishly at shows, real conspicuous consumers of the “good life”. That overhead comes MOSTLY from screwing people with coins to sell. 

[Just Bob]

On 3/30/2022 at 2:23 PM, VKurtB said:

I do, and about 75% of them do not make me proud to know them. Look, I get it. Overhead is more expensive than it ever has been. Even being a show dealer is rough on overhead, if it’s a good show. But I also know MANY dealers who live lavishly at shows, real conspicuous consumers of the “good life”. That overhead comes MOSTLY from screwing people with coins to sell. 

This is something that I will never understand. I wonder how many of those same dealers are bemoaning the fact that "not enough is being done to promote the hobby." And yet, by their actions, they are alienating the very collectors they claim to want to attract.

Edited March 31, 2022 by Just Bob