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- - Bought some silver and coin shop report. (http://goldismoney.info/forums/showthread.php?t=299186)

Prometheus | 09-08-2008 11:33 PM
Bought some silver and coin shop report. Meat and potatoes first. NW Indiana. Sold out of SAE's and 90% US coins. Had 70 1 ounce Maples leaves (atleast). Selling for 17.50 out the door (including 7% sales tax) on the maples when I inquired about buying $1,000. FWIW I called another shop here and they would sell at 20 each if I bought $1,000 worth. Didn't inquire if that included tax, lol. I wound up buying 120 Canadian Dollars 60 from 1/2 old lady and half young lady queen. 1964 and I forget the other year, I've already put them up. All are uncirculated. Apparently one of those two have different date type marks and what not that I may find some nice numismatics in the 6 tubes... I believe hm when he says he didn't look thru them yet. Total price out the door $9 each if I bought them all and I did. I over spent by 152 bucks, but got 72 ounces of silver in the Canadian dollars vs getting 65 maples. Any word on these things?

Victor | 09-09-2008 09:16 AM
Re: Bought some silver and coin shop report. For what it's worth from my dealing with 80% Canadian.... Not many small time dealers want to mess with the stuff. It's considered similar to 40% halves (ie the sell price to spot price spread is pretty wide). I don't mess with it unless I can get it for a song compared to the spot price. One form of silver that I will trade in and out of for profit whenever I get it (same with 40% halves and war nick's). Selling to Canadian dealers or private investors might be a different story as I have no experience with that. As I type the silver melt value of those at $12.00 per ounce spot is roughly $7.20 each. That inclued no numismatic value. At $9 per.....this is just my opinion.....I would have passed. To much premium for what you are getting. It's no where near as liquid as 90% and in a run-up the spread will widen out on you as it will in reverse on a run-down. 100 ounce bars at Ampex were .99 per ounce over last time I looked. Best deal going at this time bar none. That is if you don't mind buying over the net.

Prometheus | 09-09-2008 12:06 PM
Re: Bought some silver and coin shop report. Quote:
Originally Posted by Victor (Post 1278940) As I type the silver melt value of those at $12.00 per ounce spot is roughly $7.20 each. That inclued no numismatic value. At $9 per.....this is just my opinion.....I would have passed. To much premium for what you are getting. 100 ounce bars at Ampex were .99 per ounce over last time I looked. Best deal going at this time bar none. That is if you don't mind buying over the net.
Before tax they were 8.37 each. Spot was 12.20 when I bought so that was 7.32 in silver per coin. 1.05 mark up and I didn't have to buy the big honker for that price. Not much can be done about the taxes, I haven't bought from ampex but shipping is probably close to what I paid in taxes. I'll probably go back in a week if silver stays down and pick up a couple of his generic 10 ounce bars. I don't have any of them anymore and I'd like one again.

Ryedale | 09-09-2008 12:22 PM
Re: Bought some silver and coin shop report. Canadian 80% dollars (voyager dollars) are one of my favorite. I like them for a few reasons, they are real currency, so you have a nice basement price for when silver goes to zero (wink), and they are very unlikely to be counterfeited going forward if silver value goes way up. They are also Canadian currency, and should not be a problem at a border. I buy Canadian Proof-Like sets when I can get them reasonably, lately they have been a bit high, even with the pullback (gutting) of silver. I hope we hit bottom soon.

gopher29 | 09-09-2008 01:00 PM
Re: Bought some silver and coin shop report. I only have one Canadian Silver Dollar in my collection, and it is part of a proof set that I purchased off ebay a while back, but I agree the coins are beautiful. I don't think you did too bad. But I would suggest you consider crossing over the border next time for some tax free silver in Illinois.

Prometheus | 09-09-2008 01:21 PM
Re: Bought some silver and coin shop report. Quote:
Originally Posted by gopher29 (Post 1279467) I only have one Canadian Silver Dollar in my collection, and it is part of a proof set that I purchased off ebay a while back, but I agree the coins are beautiful. I don't think you did too bad. But I would suggest you consider crossing over the border next time for some tax free silver in Illinois.
I can't pack my Roscoe into ILLannoyed. You asking me to commit a class a misdemeanor? :bear_tongue:

fasTTcar | 09-09-2008 01:35 PM
Re: Bought some silver and coin shop report. To many (me included) Canadian dollars are a premium, nothing like 40%. When I buy collections, I pay $1 over regular 80% quotes for them. Kind of like the premium paid for Morgans and Liberty dollars vs. 90% quarters. I sell 80% often, but never have dollars included in the mix.

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