I looked on eBay at "Silver" and seen some guys selling rolls of pre '65 dimes for about $120 give or take. What are your thoughts on this sort of transaction?
No matter how good or bad your life is, wake up each day thankful because someone somewhere else right now is fighting for theirs
Canadian Silver change (1966 and earlier) is 80% silver, and $1.00 in silver coins (dimes, quarters, dollars or any combination) has 0.6 oz actual silver weight (ASW).
Some 1967 coinage is 80% and some is 50%. Hard to tell the difference on an auction sight, but they do weight slightly differently. 1968 was the last year Canada put out silver coins, and all 1968 silver coinage is 50%. They also made non-silver coinage in 1968.
So a roll of 1966 & earlier dimes ($5.00 face value or 3 ounces ASW) should be a at spot price of around $100. But you always have to pay a little over spot, even for bullion. $120 is probably the more than I would consider paying for it. Maybe $110. Ebay has gotten a lot more competetive lately I think.
US silver currency is 90% silver, and has more silver per dollar of change. Not sure which ones you were looking at.
EDIT: If you were looking at pre-65 dimes, they were probably US silver, in which case $120 is not far off the mark. I think '64 was the last year the US made silver coin.
Thanks for all the info guys I'm wanting to get bars mostly 1 oz or more
Preparedness is like a condom , I've rather have it and not need it, rather than need it and not have it
Thanks Salix... yes... US coins. Sounds like a fair purchase. I have never purchased via Ebay and wonder how safe it is... particularly for this kind of transaction.
No matter how good or bad your life is, wake up each day thankful because someone somewhere else right now is fighting for theirs
Good read on the flip side of Silver hype. I do own silver.
Handy link for pricing Canadian silver coin... http://www.coinnews.net/tools/canadian-silver-coin-calculator/
Personally I prefer Silver Maple Leaf's over 1 oz bars for the instant recognition of value. When currency collapses instant recognition will make any transactions far faster and easier.
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
Handy link for pricing Canadian silver coin... http://www.coinnews.net/tools/canadian-silver-coin-calculator/
Personally I prefer Silver Maple Leaf's over 1 oz bars for the instant recognition of value. When currency collapses instant recognition will make any transactions far faster and easier.
Agree 100% on the Maples. I actually like the look of them too.
Have you noticed that there is a value stamped on the coins? I have paid more for mine then they say on them. Any thoughts???
Yes there is consistently a lower FIAT value on PM's. Why say $25 for silver if it drops to $20. That would be a guaranteed hedge with very little downside risk. No government would do it so they keep it at or around multi decade lows for the metal. $5 for maples is low but if someone wants to sell theirs to me for that I will buy whatever they have. 🙂
Have you noticed that there is a value stamped on the coins? I have paid more for mine then they say on them. Any thoughts???
Currently a 1.5oz. 2013, $8 face value Polar Bear is selling for just under $59. The silver content is worth a touch over $45. The only way I would buy silver coins with a dollar value stamped on them would be junk (circulated) silver coins for the silver value which is currently just under 18 times face value for 1967 and earlier coins. If we find ourselves in a currency SHTF situation, for some reason I don't think that 'collectable coins' are going to trade at much of a premium when buying necessities. Plain old silver coins or maple leafs are a store of value especially when inflation rears it's ugly head.
My non silver two bits. 😆
BTR
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
The plain silver coins, and the maple leafs all have a value stamped on them. Just wondering if it is better to go with new coins, (I think they are all stamped with a value) or is it better to buy the 1 oz bar, or fractions of the an ounze bars? Just wondering what would happen if a person need to sell them either in SHTF or not, would there value be by weight or by the amount on the face? Thanks for the offer Gravlore, think I'll hang on to mine for a while yet.
The $50 and $5 values stamped on gold and silver maple leafs respectively are pipe dreams unless some alchemist figures out 'the secret' of converting lead to PM's. The age of a non collectable maple leafs (or any pre 1968 circulated silver coin for that matter) really doesn't matter, the weight, purity and price of the precious metal in it is what gives the coin it's value.
As stated before I prefer a maple leaf (1/2, 1/4 and 1/10 oz gold coins are available, again at a premium) over a small bullion bar for instant recognition of value. A maple leaf would be very hard and expensive to copy for a forgery but it can be done. http://www.silverdoctors.com/chinatungsten-online-chinese-firm-promotes-gold-plated-tungsten/ Bullion bars are much easier to fake and/or alter. http://news.goldseek.com/GoldSeek/1332766800.php
If you are investment coin collecting, I would imagine some of the new special/limited issue dollar value stamped coins would pay a handsome premium over time. (just don't ask me which coin you have to hold or for how long you have to hold it. I have no idea nor a crystal ball) If you are simply gathering hard assets as insurance against currency collapse I would not recommend 'collectable' coins with a dollar value stamped on them.
That said, you will pay a slight premium for maple leafs but will also get a slight premium if you sell them back to a bullion dealer. In a currency collapsed economy IMO the ease of use would outweigh the premium paid for the maple leaf. Those 'in the know' might even give a slight premium in value if the coin was used to purchase goods. (don't count on the premium, most people are greedy and would rather pocket any premium value themselves)
I hope that helps...
BTR
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
Thanks for the advice BTR
Preparedness is like a condom , I've rather have it and not need it, rather than need it and not have it
Have you noticed that there is a value stamped on the coins? I have paid more for mine then they say on them. Any thoughts???
In addition to what the others have said, the valuation on the coins makes them legal tender. When you buy them, you don't pay GST because there is no GST on exchange of legal tender. Bullion isn't considered legal tender, so you will pay GST to purchase it.
Those who are unwilling to defend freedom, will become unfree.
If you have been watching precious metals and/or PM mining stocks for any amount of time I think that you would have to agree that Eric Sprott is nobody's fool.
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/1/6_Eric_Sprott.html
While he doesn't have a crystal ball, he didn't become a billionaire because he is stupid.
BTR
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
