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Silver For The People
The Bitcoin Channel
BTFD, Silver bitchez
Proof coins are not ordinary ASEs and are always sold at higher prices.
That's right, proof coins for the numistatists among ASE buyers always command a premium.
As a coin dealer I can confirm this to be true. Proof Silver Eagles are always priced higher. They have that special black white cameo look, designed for collectors only and not the General Public, although anyone can buy them.
How much did the proof Silver Eagles sell for a year ago?
I don't track those kind of prices, sorry.
The 2010 Proof ASE was $49.95 USD. I've got one in my hand. Beautiful.
"Black white cameo look"-stuff is word, yo.
(Maybe a lil gay, but it was the '80s.)
ZOMG. I had no idea this video was so gay. I heard the song a million times when I was a kid.
Using proof prices to jack up a "spread" for sensationalism is unforgivable.
TD, you oughta be ashamed.
$39.89 for just 1 bullion ASE at APMEX.
What's the spread now?
Silver is going to be the real star really soon. So much more upside potential for commodity investors. Not now, but soon. Time to collect those american silver eagle coins
this is for proofs, in fancy dorky little boxes.
if you want a rather more interesting datapoint than the prices of proof coins,
note that tulving has been sold out of krugerrands for like 3 days straight, sold out of a few other things in the past few days, and today, sold out of 100oz ag bars.
remember when you knew something was going on, when nobody could load the kitco page (because everybody was reloading the kitco page)?
theres plenty of real signal, but c'mon... prices of proofs in silly little boxes, not the best indicator. such a premium on the bulk ag-eagles in green boxes would be something more interesting.
Exactly PROOF COINS people. I must admit I love ZH but my respect just dropped a couple points now that this article is being pushed. This article needs to be removed asap.
With this blog, you just have to accept the good with the bad. Whereas ZH's coverage of Chinese fraudcaps and HFT abuses has been absolutely outstanding, the posts regarding metals have much room for improvement.
And thank goodness we have you here to correct any mistakes made by Tyler and ZH.
Get over yourself Flanagan.
just trying to help
Bullshit. I've read plenty of your posts on silver. You've been highly critical on those who have been calling this market correctly for many years.
The Flogging of Flanagan. LOL
Should be a movie title or at least a Mini-Series.
we just went commercial!
Mutha FucKerS!!! SO glad I bought mine when I did!!! SILVER GOLD BITCHES!!!
Well Perth Mint wins this silly little game hands-down...how about AU$299.00 for just 3 x 1oz coins. That's AU$99.67/oz!!!!!!!!
Who needs a poofy looking Silver Eagle when there's Megatron Silver Bitchez!
Looks like the only way to get a Megatron is to buy the three-piece set; it seems Megatrons on their own may be sold out already.
So why would you pay a 50% premium for a 'PROOF COIN'....big deal.
Because they are very pretty and very shiny, and come in a nice felt-lined box in a little capsule, etc.
Today's prices for common stuff made a century or more ago:
1880-1904 Common Morgan dollar, non-Proof - $35.
Proof Morgan dollar - $750 - 1,000 for a dog and up to $30,000 if it's really really nice.
Really depends on how many "proofs" they are making. Tens of thousands would lower the long term price. They made millions of Morgan dollars but only a thousand or less proofs each year.
Here's a bunch of Heritage Coin sales:
Get yourself an antique piece of hardwood furniture, and you'll find the mark-up significantly larger.
Apply to most items - antique coins really are a niche market, imo.
Actually, I would argue with that. An 18th century slant front walnut desk can be had for prices that are below the cost of the walnut and brasses. Antique furniture is often cheaper than the Ethan Allen bullshit. My house is filled with it.
The downside to collecting modern coins is the same for many of the other traditional collectables. Those really old morgans, and baseball cards for an even better example, are only rare because they weren't considered collectables so people didn't hoard them. They were spent, exchanged, melted down, and thrown away because they weren't seen as valuable.
That is absolutely true. A collectable has to go through a period of minimum (if not zero) worth. The sheets of stamps from the 30's on bought by many collectors sell for WAY under face value. They aren't even good for postage because they fill more than the envelopes surface.
The 5 oz ATB "quarters" in the original 1st year bullion run will turn out to be the buy of the century, assuming the Mint (in their infinite wisdom) doesn't screw up mintages lower than this on subsequent coinage of the set. The older platinum issues have been some real screamers due to low mintage.
What kind of dog?
I'm not disagreeing with you per se, JLee, as you are correct in historical context, but I want something I can cash in on while I'm still alive. Melt value bullion is the best bet, because there's no premium that you'll hope to get back out of it. If and when SHTF big time nobody is going to give a rip how rare or special or shiny the coin is, and won't be awed into paying more than the intrinsic value when it's a matter of survival. It will be used for currency, and anything collectible will be considered frivolous. If I had any expensive coins I'd be selling them for bullion before the melt value creeps further into the numismatic value. The owner of my local coin shop said he'd be retired already if he'd have steered clear of rare coins and stuck to bullion.
And Tyler, why did you even post this? This was the first time I've seen you uninformed. Nobody's perfect though. Still love the site and everything you guys are doing, and I'll gladly take the good with the bad.
Let me know when Silver is no longer Silver just becuase it has cool designs on it and fancy stamps.
It happens every time it comes out of the shops of Georg Jensen, Tiffany,
Hermes, or as a proof coin from the US Mint.
I dressed up an impacted bowel movement in some G.I. Joe toy clothes.. but it still smelled like shit to me. Kung fu grip was kind of mushy too. So.. by your logic, can I call it an authenitc G.I. Joe with chocolate mousse snack pack? or do you think it's just a turd that's all dressed up with no place to go. :)
awww.. I must have pushed a few cognitive dissonance buttons.
A thing has value when you find buyers - or morons, take your pick - who will pay for it.
And I am sure that at some crazy club in, say NYC, the mushy King Fu grip would be seen as a big selling point.
Actually, your logic is impeccable and unassailable (not to mention hilarious), which is why they pushed the junk button. Nothing else they could do or say.
What make you so sure there will be green monster boxes?
(personally I prefer the yellow ones :-D )
Correctemundo. This does not apply to uncircs....Much ado about nothing.
All gentiles are uncircs.
Hell with this Bitcoin BS! Sounds like monopoly money... SO some smartass comes up with some computer crap and folks buy it... RIght...
Spoken like a douchebag who got his first email account in 2003.
These markets are schizophrenic, might be time to go into mostly all physical and go diving in Micronesia.
Anyone left in 'paper' must have rocks in their head, or have a financial death wish!
As Olivia 'Neutron-Bomb' sang "Physical. Lets get physical!"
If you've never seen the video, here you go.
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