Posted on 10/09/2020 2:51:19 PM PDT by Enlightened1
p>“Prices for products containing silver will change EFFECTIVE October 13, 2020…re-setting silver prices is necessary”…
(by Half Dollar) No inflation, huh?
The US Mint even says below, to “cover rising costs”.
Regardless, here’s a little dandy that the US Mint would probably like to keep as much under wraps as possible.
From just today:
From the Federal Register:
Here’s the PDF of the government’s entry in the register, and, specifically, the products that are affected.
And here’s the table from the PDF file:
That’s $67 for each uncirculated Silver Eagle?
Notice that while these coins are one step above, for example, a “tube of Eagles”, these are not necessarily coins that one may think of as “numismatic”.
I’d call them “semi-numismatic”, but hey, the US Mint is hiking prices by almost 25% on the uncirculated Silver Eagle alone, so the US Mint can’t really afford to cheap out now, can they?
The 5-ounce uncirculated ATB’s are on the list of price hikes too!
Yikes!
In other words, the factor that differentiates between “numismatic” and the standard, BU condition American Silver Eagle bullion coin is a US Mint presentation box and a Certificate of Authenticity.
Developing…
(Excerpt) Read more at silverdoctors.com ...
“Silver spot today was around $24 so thats a pretty hefty markup.”
The US Mint has always charged fairly outrageous prices for it’s gold and silver products.
Does this mean we should rush out and get a bunch?
Considering it’s an instant so-called profit?
Spot is the JP Morgan/Federal Reserve paper price - which they might just be ready to stop actively suppressing if all of their friends and cronies have acquired sufficient net long positions. :)
We have a bunch of old, 19th century sterling and some silver bouillon, also mainly sterling, some fine.
When we were very pinched under zer0, I investigated selling and found I would lose 15% due to fees to eBay and PayPal.
We hung on to it and are glad we did. We unfortunately sold investments during the 2008 debacle and should not have. What we salvaged lasted us, while still working and cutting to the bone, for 12 years, with some left. We bolstered it by selling our home & land, buying a way less expensive place with lower taxes and continuing to live a more frugal life style (I’d call it a survival lifestyle. It’s still comfortable).
Had we not sold, we would be much better off today.
We held on to gold, coins, 18kt and some 24 kt, too. Husband used to be a jeweler.
Won’t advise, except, maybe sell one on eBay and then reevaluate.
Evewrything and anything you want to know about precious metals, miners, etc can be found at kitco.com Long range forecasts, miners who are undervalued, etc.
Thanks!
For barter, nothing better. Of course, that'll depend on what happens next month...
Many moon ago I tried to sell mint sets - most went for face value. I kept a few years of them for sentimental reasons (birthdays, anniversaries, etc.)
Buy low, sell high, same with guns and gold.
You are not reading that correctly. They charge that for proof coins. They have for a while, because I buy some.
For collectors there is a huge difference between UC and proof.
Individuals cannot purchase UC coins from the mint. You have to go to a dealer.
See my post 31.
For some background:
Proof coins are specially struck; they are “perfect.” They are shipped in a special box and encased in plastic. This protects them from being scratched or dented.
Uncirculated coins are coins that are from a normal run, but haven’t been in circulation. Most Silver eagles are in this condition because no one uses them—unlike the old Morgan Silvers. But, they have little scratches or dents from being in the tubes.
When you buy from online coin dealers they are usually “Brilliant uncirculated.” This means they are straight out of the tube.
The only time you might want to buy proofs is if you are a collector. If you do, never handle them out of their case with your bare fingers. The oil will wreck them.
Current spot prices are about $5 below what you will pay for a current year Silver Eagle. Generally you can sell an SE for about $2-3 over spot.
It’s also important to recall that the Silver Eagles are 1 oz of silver. The Pre-1964 silver coins were 90% silver, so a silver dollar did not weigh an ounce.
Great info and thanks!
Thanks
I usually buy silver from here. They also have a buy back price. You would have to check several coin stores for the silverware to get a realistic price. Not pawn shops. Silver ware is tricky to appraise, depends on the purity.
https://www.providentmetals.com/silver/silver-dollar/morgan-silver-dollar.html
I like Provident, though they have increased their mark ups and you have to buy $200 worth now to get free shipping.
Selling silver is always under spot. It will take serious inflation to cover that markup over spot value.
Buy Maple Leafs instead.
Funny thing about Provident... Several years ago I did a big order with them. Fairly heavy packages arrived a few days apart marked something like “Bud’s Appliance Parts” for return address.
I got some labeled “bearings”. Good opsec! LOL
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.