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.
I’ll give you $16
Thought you fellas might appreciate this thread. To whomever posted the ‘ conflation.com ‘ link on the thread about silver at $38.00 - my thanks. A very helpful site.
The 1950 nickle from Denver is a key date in that series.
I started collecting silver coins in 1965, when I got the gals who worked the cash registers in my Jr. HS cafeteria to sort out the silver ones. Day by day, $1.85, $2.25, 85 cents at a time. (That was actual money back then) One day, someone whispered to those gals that they should keep that silver for themselves and I never got another dime! My very own silver window snapped shut!
I still have all that silver; not that it’s necessarily been a good investment on a 45-year ROI. Those coins sell for 28x face value, which is amazing. I’ve bought hundreds of pounds more in the interim. Uhhh, not at face. Incidentally, when I throw a newly-bought quarter against those from 1965? Can’t tell the difference!
I actually got a silver quarter in change the other day, and even though I look at my change, I had to look at it four times before I actually believed it.
I could kick myself for only buying 20 oz last coin show @ 34.50. But I am nervous buying much more up here. I noticed that the “theme” of the coin was MUCH more “bullion” than “numismatics”. I continue to opine that coin shows are THE best place to buy silver.
I got bupkis here! My nickle is a nickle LoL
Nah. It’s worth somewhere between a dime and fifty cents, roughly. :-)
I’m Rich!
Rich I tells Ya!
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Yes, oh Yes! Fist pump!
If your rich then Obummer is going to take it.
Goldbug Ping
This is a decent site that will give you a rough idea of the value of coins typically considered junk silver: http://www.silvercoinstoday.com/silver-calculators/us-silver-coin-calculator/
Awesome pic :)
Do you trade in post-1965 silver proof quarters?
I bought half a roll of proof Franklins for scrap a few months back.
Exactly.
I haven’t bought silver in a few years, but Eagles were about $3 over spot and junk was at spot. I sold a bunch recently and got spot from the previous week’s closing, which was a few pennies difference.
$1000 face is over $28K @ spot. Most places will give you a nice deal if you’re dropping that much cash all at once.
And yeah, Eagles are selling at around 10% over spot. 1996 Eagles for quite a bit more than that.
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