Posted on 04/05/2011 5:34:33 PM PDT by DeaconBenjamin
Pre-1965 90 percent silver U.S. coins are especially hot, while silver U.S. coins that aren’t so familiar to buyers — such as post-1992 Proof 90 percent silver coins from Silver Proof sets — are trading at discounts to melt value.
For example, on March 28, one dealer advertised on a trading network a bag of 4,000 Proof 2010-S 90 percent silver Washington quarter dollars — $1,000 face value — for $26,300, lowering it later in the day to under melt value at $25,999.
Another dealer was offering $1,000 in face value of modern Proof 90 percent silver coins for 99 percent of the melt value.
At the same time, market makers were paying $26,200 for $1,000 face value 90 percent silver bags.
The current market is allowing for a slight premium for all 90 percent half dollar bags, and a slightly greater premium for Walking Liberty silver half dollar bags.
It is discounting 40 percent silver bags slightly along with Roosevelt 90 percent silver dime bags.
Prices for Proof American Eagle silver bullion coins have exploded in the last several weeks. As of March 28, several wholesale dealers were advertising buy prices of $60 each for examples with original Mint packaging.
This quick price advancement has effectively removed premiums for the Proof 1993-P, 1995-P, 1996-P and 1997-P issues. These dates always enjoyed substantial premiums over the more common dates, but not anymore.
The sole issue that now trades for a premium — excluding the rare Proof 1995-W American Eagle silver dollar — is the Proof 1994-P silver American Eagle, which still enjoys a $20 to $30 premium over the common dates.
According to its Web site, the U.S. Mint is scheduled to release Proof 2011-W American Eagle silver dollars on June 30, meaning that the existing supply won’t be increasing for at least three months.
Even Proof 2010-W American Eagle silver dollars are now trading at the same level as the rest of the 1986 to 2008 Proof issues.
Proof 2011-W American Eagle gold coins are scheduled to be released April 21, and several market makers have reported a softening of demand for Proof gold American Eagles in anticipation of a flood of 2011 issues.
Steve Roach is a Dallas, Texas, based rare coin appraiser and fine art advisor who writes the world’s most widely read rare coin market analysis each week in the pages of Coin World.
How about an 1878 Liberty Head silver dollar?
I paid her face value for it. We did this for years.
I have a couple pounds of those old coins locked up in my safe. I had friends that called me nuts for wasting my time on it. They don't say that any more.
which type and what grade?
Melt value of $30.38 at today’s closing spot price.
I assume you mean a Morgan.
This article is full of crap. I don’t believe a word of it.
You can buy pre-65 silver at or below spot, including delivery, for spot price ($1000 face bags) at tulving.com.
Maybe some local gougers are getting more. But I GUARANTEE that no one is selling silver proofs or Eagles for less than spot. Nobody.
Today’s close for silver was $39.24.
They are easy to spot, too. You can hear the difference in the way they clink.
Would you say there’s slight trace of wear on the bust shoulder and hair left of forehead, and on eagle’s breast and top edges of wings? If so that would be considered Almost Uncirculated and if it’s 8 tail feathers $42 to $58, 7 tail feathers over 8 $48 to $77, 7 tail feathers 2nd reverse $36 to $41 or 7 tail feathers 3rd reverse $40 to $46. Those are retail. You’d probably not get those selling to a coin dealer
Check consignment shops. The consignors generally don’t update the price of their products very often. I got $4 in face value coins for $67.
That's very true. Newer coins 'clink', the older silver stuff 'rings' when you drop it.
What fool would sacrifice proof coins for scrap value?
A hungry one.
Or a cold one.
“4,000 Proof 2010-S 90 percent silver Washington quarter dollars”
Uhh, no.
I went though all of mine months ago
$900 of quarters.
Surely there are some pre 65.
Hmmm..65....67...66....65...
No a darned one!
Found about 8 1950-52 nickles. all of them nickle copper! Doh!
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