Silver Dollars Yes Or No??!!

[SilverFreak]

Hello,

I have the chance to buy some silver dollars. I was wondering if these are a good investment choice or not? If they are what is a good price to pay for them?

I would appreciate any input.

[Silver Shoes]

SilverFreak,

I wouldn't turn my nose up at silver dollars; just watch your price. You can expect to pay more than you would for 'junk silver' because dollars have slightly more silver compared to face value, and because there is more market demand for them. Silver dollars are considered semi-numismatic coins even if they are in only fair condition.

How much are you being asked to pay?

[SilverFreak]

Thanks for the reply Silver Shoes,

The guys is asking $11 each Canadian for silver dollars. He also has some coin bags but didn't get into prices on those.


SilverFreak,

I wouldn't turn my nose up at silver dollars; just watch your price. You can expect to pay more than you would for 'junk silver' because dollars have slightly more silver compared to face value, and because there is more market demand for them. Silver dollars are considered semi-numismatic coins even if they are in only fair condition.

How much are you being asked to pay?

[Flying JJ]

Morgans or Peace dollars are a steal at $11 each.

The coin bags of US 90% should melt around 71.5 % of spot. Just be aware that worn coins are less. A good rule for worn is about 67% of spot if you can still tell what type of coin it is.

[SilverFreak]

They are Canadian coins.. so Canadian silver dollars. Is $11 still a good price. He says they are in good shape.


Morgans or Peace dollars are a steal at $11 each.

The coin bags of US 90% should melt around 71.5 % of spot. Just be aware that worn coins are less. A good rule for worn is about 67% of spot if you can still tell what type of coin it is.

[goldminer]

Pre-1967 Canadian silver dollars, halves, quarters, and dimes are 80% silver vs. 90% silver utilized to strike comparable pre-1965 U.S. coins.

To determine the value of 80% silver Canadian coins when struck (uncirculated), multiply .6 x the face-value of the coins x the current spot price of silver.

If the coins shows noticable but not a lot of wear I would multiply a bit less...maybe .58 or .59 times the face value of the coins x the current spot price of silver.

i.e. current spot at this writing is US$18.31, so for an uncirculated 80% silver Can. dollar multiply:

.6 x $1.00 face value = .6 and then x US$18.31 = US$10.98 worth of silver in the coin (or can be stated that the "melt value" of the coin is US$10.98.

[SilverFreak]

WOW, that is some amazing info. Thanks.

So if he is asking $11 Canadian and our dollar is a little weaker right now then the US then that is a fair price then?

Hmmm I have have to buy 100 or so then..... Are they fairly easy to move if I choose to sell them?

Would US coins be better?

Pre-1967 Canadian silver dollars, halves, quarters, and dimes are 80% silver vs. 90% silver utilized to strike comparable pre-1965 U.S. coins.

To determine the value of 80% silver Canadian coins when struck (uncirculated), multiply .6 x the face-value of the coins x the current spot price of silver.

If the coins shows noticable but not a lot of wear I would multiply a bit less...maybe .58 or .59 times the face value of the coins x the current spot price of silver.

i.e. current spot at this writing is US$18.31, so for an uncirculated 80% silver Can. dollar multiply:

.6 x $1.00 face value = .6 and then x US$18.31 = US$10.98 worth of silver in the coin (or can be stated that the "melt value" of the coin is US$10.98.

[JesterJay]

YES!
US coins would be better. 90% instead of 80% and much better known and dealt with than Canadian. I had some CAN coins and traded for silver bars at the coin shop. The 80% throws off a lot of people. We (most I think) are used to dealing with the 90% calculations.
But if you want the Canadians, the $11 per seems right on spot. I'd offer $10.50 each cuz that's the way I am!
JesterJay


WOW, that is some amazing info. Thanks.

So if he is asking $11 Canadian and our dollar is a little weaker right now then the US then that is a fair price then?

Hmmm I have have to buy 100 or so then..... Are they fairly easy to move if I choose to sell them?

Would US coins be better?

[SilverFreak]

LOL

Right on, I was going to offer 10 then he'd say 10.50 and i'd say yes.

Thanks for all the info guys.

YES!
US coins would be better. 90% instead of 80% and much better known and dealt with than Canadian. I had some CAN coins and traded for silver bars at the coin shop. The 80% throws off a lot of people. We (most I think) are used to dealing with the 90% calculations.
But if you want the Canadians, the $11 per seems right on spot. I'd offer $10.50 each cuz that's the way I am!
JesterJay

[JesterJay]

Yes, You are right.
I probably would have offered $9 flashing lots of cash. Then when he said NO I would put it away and ask the address of his nearest competitor.
Now THAT's Leverage,
JesterJay


LOL

Right on, I was going to offer 10 then he'd say 10.50 and i'd say yes.

Thanks for all the info guys.

[goldminer]

If you live in the U.S. choose U.S. 90% Ag coins.
If you live in Canada choose Canadian 80% Ag coins.

The exception is if you live in either country close to the border, you might want to opt for a mix of 80 & 90%.

[SilverFreak]

I would love to get em for 9. He is firm on 11. I might buy some. Still a good price i think.

I bought a bunch of maples off him.

Yes, You are right.
I probably would have offered $9 flashing lots of cash. Then when he said NO I would put it away and ask the address of his nearest competitor.
Now THAT's Leverage,
JesterJay

[SilverFreak]

Right on, good advice. I htink I will have to stick with just Canadian dollars.

If you live in the U.S. choose U.S. 90% Ag coins.
If you live in Canada choose Canadian 80% Ag coins.

The exception is if you live in either country close to the border, you might want to opt for a mix of 80 & 90%.