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Big demand for pre-1965 90% silver coins
Coin World ^ | April 5, 2011 7:02 AM | by Steve Roach

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.


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: gold; goldsilver; silver
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To: Defend Liberty

I’ll give you $16


21 posted on 04/05/2011 6:14:21 PM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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To: Jet Jaguar; eyedigress; Rebelbase; WhistlingPastTheGraveyard; ConservativeWarrior; CodeToad

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.


22 posted on 04/05/2011 6:14:57 PM PDT by warsaw44
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To: mylife

The 1950 nickle from Denver is a key date in that series.


23 posted on 04/05/2011 6:16:56 PM PDT by mainevet (Get an M1911 or two or three or four)
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To: Lurker

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.


24 posted on 04/05/2011 6:19:33 PM PDT by Attention Surplus Disorder (Which has more wrinkles? Helen Thomas' face or Lawrence O'Donnells' panties?)
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To: mainevet

I got bupkis here! My nickle is a nickle LoL


25 posted on 04/05/2011 6:20:11 PM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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To: mylife

Nah. It’s worth somewhere between a dime and fifty cents, roughly. :-)


26 posted on 04/05/2011 6:27:26 PM PDT by mainevet (Get an M1911 or two or three or four)
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To: mainevet

I’m Rich!

Rich I tells Ya!
WOoooo Hooooo!
Yes, oh Yes! Fist pump!


27 posted on 04/05/2011 6:31:38 PM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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To: mylife

If your rich then Obummer is going to take it.


28 posted on 04/05/2011 6:47:20 PM PDT by ncfool (The new USSA - United Socialist States of AmeriKa. Welcome to Obummers world or Obamaville USSA.)
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To: warsaw44; jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...

Goldbug Ping


29 posted on 04/05/2011 6:51:21 PM PDT by Jet Jaguar
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To: Defend Liberty

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/


30 posted on 04/05/2011 6:54:15 PM PDT by MSF BU (YR'S Please Support our troops: JOIN THEM!)
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To: DeaconBenjamin
Fergus been stackin!


31 posted on 04/05/2011 6:59:53 PM PDT by atomic_dog
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To: atomic_dog

Awesome pic :)


32 posted on 04/05/2011 7:10:45 PM PDT by andyk (Wealth != Income)
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To: Beelzebubba
But I GUARANTEE that no one is selling silver proofs or Eagles for less than spot.

Do you trade in post-1965 silver proof quarters?

33 posted on 04/05/2011 7:15:54 PM PDT by DeaconBenjamin (A trillion here, a trillion there, soon you're NOT talking real money)
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To: nkycincinnatikid

I bought half a roll of proof Franklins for scrap a few months back.


34 posted on 04/05/2011 7:17:21 PM PDT by DeaconBenjamin (A trillion here, a trillion there, soon you're NOT talking real money)
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To: Beelzebubba; CodeToad

Exactly.


35 posted on 04/05/2011 7:21:07 PM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: mainevet
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

I'm not sure what you mean by bust shoulder since there is no shoulder. The neck is still raised from the coin. In other words it isn't so worn that it is smooth with the rest of the coin. The hair left of the forehead is also raised but maybe a little smooth although that part is hard to tell since I'm not sure how much detail there was originally. The eagle's breast appears to be smooth. The top edges of the wing are fairly smooth but have a little detail. The top edges of the right wing have far more detail. The tail has seven feathers. I'm assuming I would get considerably less than the list retail price since they are looking to make a profit.
36 posted on 04/05/2011 7:24:54 PM PDT by Defend Liberty
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To: MSF BU
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/

Thanks!
37 posted on 04/05/2011 7:26:19 PM PDT by Defend Liberty
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To: Travis McGee

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.


38 posted on 04/05/2011 7:43:44 PM PDT by CodeToad (Islam needs to be banned in the US and treated as a criminal enterprise.)
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To: Beelzebubba

$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.


39 posted on 04/05/2011 7:56:06 PM PDT by WhistlingPastTheGraveyard (Some men just want to watch the world burn.)
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To: warsaw44
Coinflation
(Melt Value Of US Coins)
40 posted on 04/05/2011 8:08:20 PM PDT by blam
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