Converting 40% to 90...

[blacoint]

nm

 

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[65gt350]

I think 40% is really the step child of the system, however it still rocks you can find them. I promptly get rid of my 40 for 90% when ever i get a chance to swap pretty much oz for oz or can sell to someone that'll pay high and then hit a shop with low 90 and pick up halves or quarters. I will not get rid of them if i am going to lose silver or have to come out of pocket.

This usually ends up getting me the same toz or if lucky a touch more silver. All with no cash outta pocket besides the initial .50.

Anyone else unload their 40's quickly as well?

I would be interested in knowing how you can move from 40% to 90% without losing ounces? Are you able to find someone who will give you $5FV of 90% for $12FV of 40%?

HH,
65GT350

 

[packerbacker]

When I sell 40%ers it's to get enough money to buy $1,000 worth or more of .9999 silver. (I don't pay sales tax on bullion transactions of $1,000 or more) I get 1 ounce rounds or 5 and 10-ounce bars. The 90% coins I find, I keep. Don't see a reason to convert 40' to 90's, might just as well convert to pure (near pure). Just my opinion. Everyone collects (hoards) for different reasons.

 

[Hi Ho Silver!]

My coin dealer asked me if I had any Silver Eagles today when I sold the 40%ers. She said they are in big demand and she has a hard time finding them unless a customer bring them in. I don't know what price she was giving because I didn't offer to sell any.

 

[65gt350]

Thank you for the explanation. The way I read your first post I thought you had a dealer that would swap you ounce for ounce from 40% to 90%.

It sounds like you need to find a dealer that pays high on the 40% and then go buy the 90% from a dealer who sells low to complete the swap.

Do you do the swap the same day or do you sell your 40% and then wait for the price to drop and pickup the 90%?

HH.
65GT350

 

[jim4silver]

My 2 cents is if you are going to do something with the 40% besides out right sell them, is to convert them into .999 silver or gold.

90% in the past did not hold up well premium wise when the price of silver shot up. Coin dealers wind up with so much of it they wind up selling to refiners who do not pay as much on impure forms of silver (anything less than .999).

If you are willing to sell online or directly to other collectors you might be alright with the 90% though.

Jim

 

[$ilver$urfer]

Very interesting strategy blacoint - I have a bunch of 40%ers saved and never thought I would be able to trade up ounce for ounce but I will check with the local coin shops and see! If this works out it would certainly free up some space in my vault!

HH,

$ilver$urfer

 

[65gt350]

My 2 cents is if you are going to do something with the 40% besides out right sell them, is to convert them into .999 silver or gold.

90% in the past did not hold up well premium wise when the price of silver shot up. Coin dealers wind up with so much of it they wind up selling to refiners who do not pay as much on impure forms of silver (anything less than .999).

If you are willing to sell online or directly to other collectors you might be alright with the 90% though.

Jim

Jim,

You are right about the 90% not holding spot during a spike but they held up better than the 40%. I like your conversion to gold. Currently $1K of 40% should get you 5 oz of gold.

HH,
65GT350

 

[packerbacker]

I still wonder why you got 90's instead of .9999 but to each his own.

 

[packerbacker]

I understand the math. I can understand trading up to 90's if you lose "nothing" but you said you did lose .16oz. You also had to get a GREAT deal on the 90's. If your "only" goal is to see how much silver you can amass why make a trade that will make you lose ANY? I save/hoard for cashing in in the future or in case we are hit by even harder times. In harder times, a .9999 silver round will be much more in demand than a 90% half dollar. Again, just my opinion.

 

[LemonThrower]

40% never sells for full melt for a variety of reasons. its just illiquid. so yeah, its a good idea to swap for cash or .999 while you can. I think 90% is pretty liquid these days - it wasn't during the spike in 1980 but its now far more recognized.

I buy 40%. p.m. me if you want to sell. we might be able to work out a trade for 90% or .999 if that is your preference.