Joliet Jake
Full Member
Thought I would share my experience with Nucleo as it happens. I will update this as things happen. First of all, the market value of silver at close today , Sept. 17th, is 17.20
Today I opened a Nucleo account. I also decided to sell a few of my CRH 40%ers.
So, after signing up, I ordered their "Incoming Shipping Service" for 15 rolls ($150 face value).
From coinflation.com, the melt price of 15 rolls is $763.16
(300 40% coins, 44.368 troy ounces, with silver at 17.20 per ounce)
So, in a perfect world, I world get $783.16. Take away the $150 I "paid" for the coins, and that's 633.16 profit.
But, the world is not perfect, and so far I have paid $23.74 for the "Incoming Shipping Service", which is a shipping container and prepaid label. You can ship cheaper on your own, but for my first order I thought I would see how this works.
The Bid/Ask today at Nucleo is 44.30 - 47.97 per roll.
This seems a huge spread to me, and both are well below the 50.88 from coinflation.com. I think 40% coins are not very desirable in small quantities for bullion, since the Ask for 90% coins is dead on the coinflation number.
If I sold today at the Bid, I would get $664.50, minus the 1% fee = $657.85
If I sold today at the Ask I would get $719.55, minus the 1% fee = $712.35
I will not sell until Nucleo actually has the coins, so who knows where silver will be then.
Today I opened a Nucleo account. I also decided to sell a few of my CRH 40%ers.
So, after signing up, I ordered their "Incoming Shipping Service" for 15 rolls ($150 face value).
From coinflation.com, the melt price of 15 rolls is $763.16
(300 40% coins, 44.368 troy ounces, with silver at 17.20 per ounce)
So, in a perfect world, I world get $783.16. Take away the $150 I "paid" for the coins, and that's 633.16 profit.
But, the world is not perfect, and so far I have paid $23.74 for the "Incoming Shipping Service", which is a shipping container and prepaid label. You can ship cheaper on your own, but for my first order I thought I would see how this works.
The Bid/Ask today at Nucleo is 44.30 - 47.97 per roll.
This seems a huge spread to me, and both are well below the 50.88 from coinflation.com. I think 40% coins are not very desirable in small quantities for bullion, since the Ask for 90% coins is dead on the coinflation number.
If I sold today at the Bid, I would get $664.50, minus the 1% fee = $657.85
If I sold today at the Ask I would get $719.55, minus the 1% fee = $712.35
I will not sell until Nucleo actually has the coins, so who knows where silver will be then.
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