Buy 40% halves at face or am I reading this wrong?

[SilverHoarder07]

EDIT: TITLE SHOULD READ "Buy 40% halves at SPOT or am I reading this wrong?"

Sorry for the wrongfully used term "face" which seems to have spun this post into a mind boggling contraption for several of the posters! Sorry peeps I meant SPOT, not FACE in the title. The rest of the information below seems to be in order I believe?

Original Post:

So I am navigating around GOLD BULLION COINS | American Silver Eagles | BUY SILVER BULLION ROUNDS & BARS and come across 40% halves at $8.34 list price or $8.10 if you go with the cash discount price for $1 FV (2 coins). Then I notice you get an additional .40 off each coin if you buy 100 x $1 FV (200 coins total). That drops the price per $1 FV to 7.70. Using Current Melt Value Of Coins - How Much Is Your Coin Worth? I see that 200 coins (40%ers) at 25.99 spot price is 768.75.

So am I reading this wrong or can you spend $770 for $100 FV 40%ers which are currently valued at 768.75. Meaning anyone can buy at (almost) spot price right now with minimum order of $100 FV?

I have only sold my 40%ers a couple times to a local coin shop which gave .40 less than each coin was valued. Next time I sell I am not looking to take that kind of hit if I can avoid it. Are 40%ers difficult to sell at spot price from your experience?

Looking forward to all of your answers!

 

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[Infowarrior]

Face or spot? Totally different, and I think your are confusing them.

 

[boristhespider88]

Are 40%ers difficult to sell at face from your experience?

Not to me they aren't!

Now spot price... those are a tougher sell (except on eBay, you can usually get more than melt for them). Most people don't want to pay spot for less than 90% silver coins (war nickels and 40% halves).

HH!
-DS

 

[Joshr29]

Yeah it looks like you can get a tad under spot which is awesome but your title is confusing people by saying you can buy them for face value. If that deal is true though I would do it.

 

[Joshr29]

Wait a sec. No way. A take back my last statement. You must be thinking that's what the 90% ers are worth. A 40 is only worth 3.81 today so they want double.

 

[Joshr29]

OMG I'm ******ed. It's two coins for the 8.70. Hell of a deal. Sorry for the other dumb post. Buy em up. That's only 8 cents over their value as of today. 3.81 each.

 

[PhattyB]

This is hard to follow because of the wrong usage of terms... Face value is what the coin spends for.. it's why we coin roll hunt to buy a silver half for 50 cents, dimes for 10 cents.

Spot is the value in silver content, and as you know, fluctuates daily. I think 40 cents under spot is not that bad from my experience. Currently, 40% halves are far less desired because they are hard to refine. This WILL change in the future if silver continues to climb in value, but for right now, it is what it is...

You can get spot if you sell on craigslist and wait. You can get spot on eBay, but you also have 12% fees which roughly is about 40 cents per coin... So, no hassle selling for spot - .40 is quite well

 

[Joe777Cool]

Am I the only one who is completely confounded by this entire thread? My head is spinning

 

[Joshr29]

Yeah it was my fault. Sorry folks. HH.

 

[fistfulladirt]

As far as Craigslist goes, my 40% have sat for months. I ended up taking a 25% lunch. Must depend on the area.

 

[The_EE]

As far as Craigslist goes, my 40% have sat for months. I ended up taking a 25% lunch. Must depend on the area.

I would buy them all day long at 25% under melt.

 

[SilverHoarder07]

I am aware of the terms and their meanings and how everything works relating to face, spot/melt etc..... I updated the first post to reflect my error in the Title which I am unfortunately unable to change. I am fairly certain the rest of the post is written how it was intended.

Rephrasing the question....is it worthwhile to buy 40%ers at spot price if given the opportunity?
Are they difficult to re-sell at spot price from your experiences?

 

[PhattyB]

I am aware of the terms and their meanings and how everything works relating to face, spot/melt etc..... I updated the first post to reflect my error in the Title which I am unfortunately unable to change. I am fairly certain the rest of the post is written how it was intended.

Rephrasing the question....is it worthwhile to buy 40%ers at spot price if given the opportunity?
Are they difficult to re-sell at spot price from your experiences?

There is still one big error in "Are 40%ers difficult to sell at face from your experience?" No, no they're not

But yeah, it reads alot more clearly now, but I decrypted it earlier and what I said still stands. It's hard to sell 40% at spot, but easy to buy. It's actually pretty easy to buy 90% and .999 at or below spot if you get word out locally.. pawn shops give less than half spot sometimes, and people still sell to them.