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Thread: discrepancy in prices between silver quarters vs silver bullion

  1. #1

    discrepancy in prices between silver quarters vs silver bullion

    http://www.monex.com/liveprices

    silver bullion $11.56/oz
    90% silver quarters $15.14/oz
    40% silver quarters $13.32/oz

    Back in March I bought a bunch of silver quarters when the price of silver bullion was a little over $20/oz and the price of the silver quarters was slightly lower than that. Why are the silver quarters now worth more than the bullion? Is this temporary? and if so, maybe I should swap the coins for bullion?



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  3. #2

    apples and oranges

    Comparing the paper (spot) price for silver to the price of actual silver coins in hand is no longer a valid comparison. What do you get when you compare the actual price for bullion coins IN HAND and "junk" silver coins in hand?

  4. #3
    what do you mean by that? why is it not a valid comparison?

  5. #4
    Yeah, the $11.56 is just the current spot price, not the cost of obtaining the physical metal. Although one could probably get it fairly close to that if he or she were to take delivery of a 1000OZ bar from COMEX. At least I think so. I'm not exactly sure how it works...I've never had the $$ to seriously consider it.

  6. #5
    well at one point the spot price was higher than the price of the 90% coins which is what I'm asking about

  7. #6
    Quote Originally Posted by jy006m View Post
    well at one point the spot price was higher than the price of the 90% coins which is what I'm asking about
    I've heard of 90% selling for slightly under spot but it seems that those days are over. The (at least perceived) shortage of small denomination silver items means that people are now willing to pay the premiums for the “junk” that they weren’t before. Even so, I doubt it'd be worth your while to sell those quarters in hopes of acquiring more bullion, unless you’re looking to trade it for low premium large (100+ oz) bars. As far as individual ounces, even the generic stuff is selling for at least $1.50 over spot, not leaving you with much of a profit margin.

    Here's a great resource for determining the current melt value of your coins: http://www.coinflation.com

    "The best argument against democracy is a 5 minutes conversation with the average voter." --Winston Churchill

  8. #7
    Ok that makes sense. I might sell my coins and buy the ETF SLV (or even HAP) though. Would that be a good idea?

  9. #8
    Quote Originally Posted by jy006m View Post
    Ok that makes sense. I might sell my coins and buy the ETF SLV (or even HAP) though. Would that be a good idea?
    If you don't hold physical silver, then you don't have silver!!!
    This is why physical silver costs more than paper silver.



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  11. #9
    Well, just to add to the conversation, I walked into "The Dollar Store" today and spent $2.18 on some bleach, got my change back (from $3) with a 1951 quarter included. So, I pretty much got the bleach for free with a little change back.
    .
    Reality is independent of Popularity.

  12. #10
    Arklatex
    Member

    You can't find silver bullion at 11.56/oz either is Acala's point, it's not just junk silver. Silver Eagles are selling for near $17 at http://bullion.nwtmint.com/ and they usually have the lowest prices.

  13. #11
    Quote Originally Posted by Arklatex View Post
    You can't find silver bullion at 11.56/oz either is Acala's point, it's not just junk silver. Silver Eagles are selling for near $17 at http://bullion.nwtmint.com/ and they usually have the lowest prices.
    Yeah, and they don't have them when you order them, they order them after you put your order in at NWTM. You will then wait for as long as three months for the silver you ordered from them. I should know, I ordered some from them once.

  14. #12
    OK, so maybe I'll hold onto my coins. Perhaps over time the gap between the coins and bullion may grow even wider?

  15. #13
    Quote Originally Posted by jy006m View Post
    OK, so maybe I'll hold onto my coins. Perhaps over time the gap between the coins and bullion may grow even wider?
    It seems the gap between (paper silver and gold) and (physical silver and gold) prices has been growing for the past nine months.

    The quotes you see are for COMEX paper gold and silver. One has to look at the physical prices to know what the real value of the physical metals is.

    Look here for the price of the physical metals. http://silverbids.com/



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