1 ounce silver rounds - bufffalo/indian

[rockriver]

silver folks,
I found an ad for 1 ounce silver rounds for 89cents over spot silver...
buffalo on one side and indian head on the reverse.
comments... ??
the rounds are marked .999 and one troy ounce...
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this is about 3 to 4$ less than silver eagles per coin....
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if you and I were trading for commoditites would you accept them as well as 90% coins?

silver dollars are carrying a high premium now...
I'd sure like to save a few bucks per ounce, but not if the trade value is down significantly...

comments?

[1Admin]

Apmex was running a deal on them I believe through midnight 1/1/14

As long as it says .999 fine, 1 troy ounce and isn't something super duper odd, I'd work with it. If it wasn't as well known a coin, I would expect to pay/trade LESS for it. Just the same as the Silver Eagles bring more now versus the Apmex generic rounds.

Walking Libs, Eagles, Maple Leaves and similar well known coins do/probably will bring more than "generic" rounds. I can't see why that wouldn't hold true in the future.

I bought a bunch of small "bars" of silver back in the days of $7. an ounce. Some of them are pretty damn dubious, like I got home played with them a bit and thought- "how would I know this wasn't a block of lead?" I was 21 at the time and no experience with PM's.

We can't assume our "customer" during a negotiation truly knows the item's value. Here's where good selling skills will help, but if the item is of dubious make or quality, then it's a much rougher row to hoe.

[miked2345]

I saw this just a few weeks ago... They have a monthly coin show at the local American Legion hall, and there's always a guy there selling gold and silver bullion. He also has old 90% silver coins, silver bars and the 1 ounce silver rounds mentioned above. His price on the 1 ounce silver rounds was about $3.5 less than the Silver American Eagles. Since I was planning on getting 20 Eagles, I had to think about those 1 ounce rounds. On 20 coins, that's a $70 savings!!

But I considered WHY I was buying silver... I'm putting some away for worse case, SHTF, a dollar is worth crap, scenario... If I have to use this silver, I want it to be as widely recognized as possible, for what it is. I'm not sure one of those 1 ounce silver rounds will be. I'm sure you could take one to a "Silver Expert" who could see the value in it, but what if you have to trade and barter with "Joe Shmoe" down the street?? Will he accept it?

[1Admin]

I didn't think they looked too bad, definitely don't look cheesey or homemade.

[protus]

But I considered WHY I was buying silver... I'm putting some away for worse case, SHTF, a dollar is worth crap, scenario... If I have to use this silver, I want it to be as widely recognized as possible, for what it is. I'm not sure one of those 1 ounce silver rounds will be. I'm sure you could take one to a "Silver Expert" who could see the value in it, but what if you have to trade and barter with "Joe Shmoe" down the street?? Will he accept it?

this is the issue with pm's. for shtf events in the paw type sense. now post economic flop/pre flop. they could be used as a currency that is not as devalued as the dollar.but if silver was 20$ pre event...will it rise (inflate) to match or sink or stay level? if it doesnt inflate then you could use it to maintain yourself through the collapse,untill markets level off.
even 90% coins like pre 64's and morgans etc..yeah they are "worth" more due to thier pm content but is the dime a dime to farmer joe?
most folks see it as that kind of shtf. who runs barter town?p,s have thier place but more imho as the prep for market flop..not mad max trade for a goat (doesnt mean someone wont take it.. i just dont see handing over a troy once to someone asking a 40$ value for it and them agreeing )


kinda like collectables its only worth what someones willing to pay fir it. just because a niw xyz toy is worth 500$ now doesnt mean its worth that to anyone you walk up to....follow me?


that said.

i have a bunch of rounds,,bars and pre 64 stuff along with "junk" silver.....and even "junk " gold- earings,,rings,,broken necklaces etc. that kinda stuff is what i consider "bribe" offerings.....

[rockriver]

here's the story and a reminder for me...
I started the all famous "researching" lol in mid dec... silver floating about 19.60
then posted here on 1-1. silver still about the same price...

ole rr still scratching his head and his @@@ wondering what to do about a possible silver purchase.
silver rose to 20.10
I used the savings and Christmas money and bought a few eagles for 23.00. each.
from an instate dealer with a friend picking up the coins for me.

the buffalo ad said .89 over spot, but you had to buy a boatload of rounds to get that price. (edited to add 500 rounds)
buffalo round pricing was about 2.50 over spot up to 19 rounds and
about 2.00 over spot for over 20 rounds.
my purchase was in this 2.00 to 2.50 over spot price range.

recognition level was worth the 1.00 premium to get eagles. (edited to show pricing of rounds- my original post listed 1.50)
my delay cost me about .50 per coin.
my primary purpose is to have a valuable item to use in barter/trade if frns have lost their value...
I suspect that if I'm trading for a laying hen and the man wants an ounce of silver, the deal will work quicker with the eagle than the round.

I shouldn't be nit picking prices now... i think we have problems coming. sooner than later... I'm making silver purchases with frns' that are losing
purchasing power constantly as our govt/fed reserve continue to print cash in massive amounts.

reminder to self... save up a little more and keep shopping. pay up to a 15% premium to get silver dollars/pre 64 or eagles over rounds.