Silver Mine ~ Post your Silver Bullion 2 2

[zadok]

On 4/16/2023 at 10:42 AM, Jason Abshier said:

@zadok I’m starting to see a market where people don’t care about paying very high premium over spot prices for certain types of low mintage 1oz silver rounds made by certain mints from around the world …. So I do see a future into that type of collecting as well as getting silver rounds graded for that purpose 

I try to keep silver “stacking” separate from “collecting” certain types of low mintage silver rounds I’m talking low low 3,000 or less some issues 500 or less … although it’s our newer generation of collectors are attracted to this bullion market they aren’t buying it strictly for melt or bullion I see a lot of them investing into as a collection. Just like we collect classic coinage 

...im one of those that espouse that everyone should collect what they like n enjoy regardless of investment potential in the future...as mentioned no one knows what these low mintage (also low collected) bullion based collectibles will yield until they r put back on the market...i can only go by what i currently see in the retail market n by how i consider these items, i personally only buy them as bullion n pay the same for them as i do generic silver rounds n ingots which is based on melt...just as a point of comparison i recently purchased a collection of .999 silver commemorative plates weighing 9 troy ounces each, i paid 91% melt value which reflects my costs of refining...there were a few of these same plates on ebay asking substantial premiums over melt but no bidders or buyers, they too were of low mintage n made by a highly regarded mint (Hamilton) but the owner could not find anyone to purchase the entire collection at any price near or above melt...all i can say is that they did stack very well but r now in 10 ounce bars...this is not to say all low mintage rounds will meet the same fate, it just says that i treat all these type items as bullion...right or wrong?...the market itself will reveal the answer....

[Jason Abshier]

On 4/16/2023 at 6:26 PM, zadok said:

im one of those that espouse that everyone should collect what they like n enjoy regardless of investment potential in the future

Very good statement …. I often wonder in the future if my classic US coins and world coins will be any interesting or desirable for new collectors joint our hobby . Would it be harder for us to sell our collectibles in the future … how many time we see a younger person interested in a ol’school corvette or other classic muscle cars … It’s been waning over the years our collectors as well as us been building our coin collections for years and years by time we get older will our kids want our collection ? Mine don’t seem to show much interest in my coin collection if time comes hopefully they can auction it off properly to get something back in return… Me myself ?  I don’t really want anything back from it  other than I had the enjoyment putting it together …I’m financially secured I really have no reason to sell off my whole collection for money gain, I could see selling some coins off using the money to upgrade to better coins but not the whole thing … lastly I don’t recommend someone new looking at coin collecting like it’s a gold mine or retirement investment … you’re better off saving money in a saving accounts or investing into property or stocks for that purpose 

Edited April 17, 2023 by Jason Abshier

[zadok]

On 4/17/2023 at 5:40 AM, Jason Abshier said:

Very good statement …. I often wonder in the future if my classic US coins and world coins will be any interesting or desirable for new collectors joint our hobby . Would it be harder for us to sell our collectibles in the future … how many time we see a younger person interested in a ol’school corvette or other classic muscle cars … It’s been waning over the years our collectors as well as us been building our coin collections for years and years by time we get older will our kids want our collection ? Mine don’t seem to show much interest in my coin collection if time comes hopefully they can auction it off properly to get something back in return… Me myself ?  I don’t really want anything back from it  other than I had the enjoyment putting it together …I’m financially secured I really have no reason to sell off my whole collection for money gain, I could see selling some coins off using the money to upgrade to better coins but not the whole thing … lastly I don’t recommend someone new looking at coin collecting like it’s a gold mine or retirement investment … you’re better off saving money in a saving accounts or investing into property or stocks for that purpose 

...two thoughts, if none of ur offspring have any interest in ur coin collection n r just going sell it off then it probably makes more sense that u sell it thru a reputable site than them taking it to the nearest coin shop..."property" much much better than any savings accounts these days....

[rrantique]

[GoldFinger1969]

On 4/16/2023 at 6:25 AM, Jason Abshier said:

You know a lot of older collectors frown down on bullion collecting “it’s only worth melt value” “why did you pay higher for it?” I’ve been asked this many of time from other collectors when I collect low mintage silver bullion …Me however I do see a market in the near future for “low mintage” silver bullion no matter what our newer generation of coin collectors like modern silver bullion … low mintage figures is the key to collectible modern silver bullion …same could be said why a collector pay so much money for a common date Morgan ? When a worn down Morgan is only worth melt well if that’s the case (shouldn’t a $400 Morgan be only worth melt as well? No no that numismatic highly collectible) Or why do they shell out so much money for a high graded Buffalo nickel that has no precious metal in what so ever ?  

I'll tell you why I pay the premiums:  it's a modest price and still cheaper than a gold coin (or a semi-rare Morgan or similar coin)....I like the design...it commemorates some historical coin or pattern from long ago.

Here's one I like based on ASG's original sketches and pattern designs:

[GoldFinger1969]

On 4/17/2023 at 5:40 AM, Jason Abshier said:

Very good statement …. I often wonder in the future if my classic US coins and world coins will be any interesting or desirable for new collectors joint our hobby . Would it be harder for us to sell our collectibles in the future … how many time we see a younger person interested in a ol’school corvette or other classic muscle cars … It’s been waning over the years our collectors as well as us been building our coin collections for years and years by time we get older will our kids want our collection ? Mine don’t seem to show much interest in my coin collection if time comes hopefully they can auction it off properly to get something back in return… Me myself ?  I don’t really want anything back from it  other than I had the enjoyment putting it together …I’m financially secured I really have no reason to sell off my whole collection for money gain, I could see selling some coins off using the money to upgrade to better coins but not the whole thing … lastly I don’t recommend someone new looking at coin collecting like it’s a gold mine or retirement investment … you’re better off saving money in a saving accounts or investing into property or stocks for that purpose 

Good thought-provoking stuff .....I always assume that the premiums I pay for moderns could dissipate over time.  I think the obscene premiums paid by registry-chasers like the 1995-W ASE PF70 DMPL which bubble-peaked at about $86,000 and then collapsed to (last I checked a few years ago) about $20,000, dragging down all other 70 coins of the type that got dragged upward earlier. 

I was talking about something similar with a friend today who isn't into coins.  He said that autographs and memorabilia for many stars of the past has faded -- often with No Bids -- because people today simply don't know who they were during their heyday.  He mentioned the actress Carole Lombard and Laurel & Hardy...could also include many 2nd-Tier atheletes not in the Ruth/Mays/Gehrig/DiMaggio class.  Today's generation simply don't care anymore than we care about 19th century cricket playes. 

[Henri Charriere]

On 4/19/2023 at 9:45 PM, GoldFinger1969 said:

Good thought-provoking stuff.... Today's generation simply don't care anymore than we care about 19th century cricket playes. 

Two more recent trends, why, I don't know, but the entire ENGELHARD silver bullion bar line has a higher profile line when compared with the others. They always command higher prices now that they are no longer being made and are routinely auctioned off, particularly the antique ones. You can even look up thrir serial numbers to find out the year they were made.  Plus their shape, slanted toward the reverse, makes them practical as well as distinctive. The other trend is off-topic: the up-and-coming generations have expressed little interest in old movie-type heirloom furniture and their modern counterparts, all  reproductions with cheaper veneer interiors are an embarrassment to the industry--and expensive.  We're more mobile now and any "fine" furniture is scrapped.  This is more noticeable on college campuses.  Occasionally, an old but forgotten stash of coins is discovered hidden in the linings and inner recesses.

 

[rrantique]

Edited April 20, 2023 by rrantique

[rrantique]

[rrantique]

[rrantique]

[DSessom]

[rrantique]

[rrantique]

[robec1347]

[Henri Charriere]

On 4/27/2023 at 8:51 PM, robec1347 said:

How high will silver go?  I guess it all depends on how many of these quadrupa-eagles are sold.  Nice coin.  Maybe this is what I should be carrying around in my pocket.  

[rrantique]

[GoldFinger1969]

On 4/27/2023 at 9:12 PM, Henri Charriere said:

How high will silver go?  I guess it all depends on how many of these quadrupa-eagles are sold.  Nice coin.  Maybe this is what I should be carrying around in my pocket.  

Silver is just now escaping/recovering from the loss of photographic silver demand.  It was almost 100 MM ounces in 2000; today it is about 20 MM ounces.  Longer-term, industrial and solar usage can be a nice source of demand.  Silver is cheaper than other white metals.

If/when gold moves up, it will drag gold up as folks who consider gold "too expensive" at $3,500 chase "cheap" silver at $60/oz !! 

Edited April 29, 2023 by GoldFinger1969

[rrantique]

Edited April 30, 2023 by rrantique

[rrantique]

[rrantique]

[Jason Abshier]

On 4/19/2023 at 9:45 PM, GoldFinger1969 said:

Good thought-provoking stuff .....I always assume that the premiums I pay for moderns could dissipate over time.  I think the obscene premiums paid by registry-chasers like the 1995-W ASE PF70 DMPL which bubble-peaked at about $86,000 and then collapsed to (last I checked a few years ago) about $20,000, dragging down all other 70 coins of the type that got dragged upward earlier. 

History taught about great “hype” wave in coin collecting.. same happened to Commemorative half dollars in the 80’s they were hyped so badly guys were paying thousands and thousands of dollars for a single half dollar the market collapsed today we can get most of those half dollars in affordable price range huge money lose to whoever purchased them at sky high prices back then

I see registries no different they may want shell out high prices for a specific coin just to build registries sets sooner or later the market may or will collapse we all seen it over the years , I guess there’s just some people out there who have money to throw away at stuff like that they don’t really care either  

[zadok]

On 5/2/2023 at 8:02 AM, Jason Abshier said:

History taught about great “hype” wave in coin collecting.. same happened to Commemorative half dollars in the 80’s they were hyped so badly guys were paying thousands and thousands of dollars for a single half dollar the market collapsed today we can get most of those half dollars in affordable price range huge money lose to whoever purchased them at sky high prices back then

I see registries no different they may want shell out high prices for a specific coin just to build registries sets sooner or later the market may or will collapse we all seen it over the years , I guess there’s just some people out there who have money to throw away at stuff like that they don’t really care either  

...i think what u say bout registry sets for the modern mint issued nclt coins may very well be true, i do not participate...but i also think that the registry sets based on the truely collectible clt coins, particularly 19th century US coinage, has justification for the higher prices paid because many of the coins r in fact truely scarce n sometimes rare n the registry owners do not consider price guides as reflective of the true market value...registry set owners have very diversified reasons for their sets, most do not consider them as investments, often the driving force is the challenge n yes the competitive aspect of displaying their sets....

[Jason Abshier]

On 5/2/2023 at 8:56 AM, zadok said:

...i think what u say bout registry sets for the modern mint issued nclt coins may very well be true, i do not participate...but i also think that the registry sets based on the truely collectible clt coins, particularly 19th century US coinage, has justification for the higher prices paid because many of the coins r in fact truely scarce n sometimes rare n the registry owners do not consider price guides as reflective of the true market value...registry set owners have very diversified reasons for their sets, most do not consider them as investments, often the driving force is the challenge n yes the competitive aspect of displaying their sets....

I agree I have seen some good in registry sets for classic coins has help drive the prices up somewhat… I’m not against registries who ever does them so be it . 

[Henri Charriere]

On 5/2/2023 at 8:02 AM, Jason Abshier said:

.... I see registries no different they may want shell out high prices for a specific coin just to build registries sets sooner....

This excerpt is deserving of a reply.  Jason, what you are describing are the amateurs.  I've gone the extra mile issuing APBs, BOLOs, bribes and rewards. I am in my '70s. Desperate times call for desperate measures.  Why do people run marathons? Why do people pay 75K (or whatever the prevailing price is for sherpas and expenses) to climb Mount Everest? Anything worth doing is worth doing well. And if I can't be Numero Uno, my set comes off the registry, Pronto.  I cannot speak to the motives of others. Completing a set is fine if you were collecting baseball cards in the 1960's, but in coins it is not enough. Being "best" isn't good enough either. As long as there is a certified coin out there somewhere graded finer, your set is not best. Rank? Rank is tentative at best as are Top Pops. So what's good enough? PERFECTION. A complete set of "unique" coins struck for circulation. Capiche?

[rrantique]

[rrantique]

[BKW1]

[Fenntucky Mike]

[rrantique]