It might look pretty, it might be shinny and have a mirror finish, it might be a limited edition, they may sell 500 items in 15 minutes but you are not buying silver bullion. In most cases the premium over melt you pay completely negates the fact that the coin or bar is made of silver. The reason being is that as the number of “limited editions” grows the more difficult it is to recover the premium you paid over melt.Ī venue to stay clear of are the Home Shopping players who claim their silver products are in someway related to the rise in the price of silver. The Franklin Mint pioneered this approach in the 1970′s and all high priced limited silver editions eventually went off the cliff and were melted for their silver value. The biggest offenders in the “new product” junk category are the so called “limited edition” silver coins and ingots. To informed buyers the difference between legitimate bullion and a substitute product masquerading as silver bullion (certified modern issues at high premiums) is obvious but to people new to the silver investing field it presents a problem. The minute the price of silver moves higher there is the normal reaction from the rank and file physical players (good) and then there is the reaction by silver hustlers looking to make a quick profit (bad). Silver bullion investing is sometimes a crowded field. Visit our Audio Gold News Page for information on the precious metals market. Have more questions about the $1000 face 90% Silver Bags? We are here to help Ask an Expert Your sale of less than $1000 face 90% silver coins is not reportable by your dealer.
#Bags of silver coins for sale full#
Dealers are required to report your sale of a full $1000 face 90% Silver Bag (I.R.S. There is no reporting requirement when you purchase 90% Silver Bag. (4) Because 90% Silver Bag trade close to their silver weight dealers have established a long history of tight buy and sell prices which follow the COMEX silver price.
(3) Because US silver coins actually circulated in commerce there are many who believe this Legal Tender status may once again be called upon if the use of paper currency is questioned. (2) The divisibility of small silver coins is a big advantage. The four most important reasons investors favor $1000 face 90% Silver Bags are: (1) these real silver coins are recognized worldwide because they were minted by the United States government. Usually the selling price of all these bags reflect their silver content, but because old silver coins are no longer being produced higher premiums sometimes develop. The premium on 90% Silver Bags can vary from negative (trading for less than content) to as much as 30% over their silver weight because of changes in public demand. GoldDealer will also deliver bags of $250.00 face value if you want to invest in 90% silver coins in smaller quantities. All US silver coins struck in 1964 or before are 90% pure silver so bags will move up or down in value following the daily price changes in the silver market. A handy way to approximate bag price changes figure a commercial 90% Silver Bag will move $7.00 for every one cent change in the daily silver market.įor your convenience in handling and storage we divide the $1000 face 90% Silver Bag into two smaller bags of $500 face. Each of these smaller bags will contain all dimes, all quarters, or all half dollars so they are not mixed. If a 90% Silver Bag were melted it would contain about 715 ounces of pure silver but this is seldom done because US silver coins are worth a small premium. If the bag contained quarters the count would be 4,000 coins and if dimes there would be 10,000 coins. The 90% Silver Bags contain $1000 face so if half dollars were used there would be 2,000 coins. This unfortunate name was developed in the 1970’s and used to describe a bag of average circulated silver coins which did not contain coins which were rare or collectable and so traded for their silver weight. These fall into the general category of Legal Tender silver bullion, which has a specific definition in that Legal Tender is actually real money and can be minted only by sovereign governments.Ī $1000 face value 90% Silver Bag weighs about 54 pounds and the contents are sometimes called “junk” silver. silver coins struck in 1964 or before in denominations of dimes, quarters, or half dollars. These $1000 90% Silver Bags contain real U.S. Since the early days of silver bullion investing the 90% Silver Bag has been one of the most popular choices worldwide.
Pre-1933 Gold & Silver Coins PCGS Certifiedĭescription 90% Silver Bag $1000 Face Value.2014 Australian Kilo Silver Koala (32.15 oz).
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