Picked up an ASE for $1.25!

[hrnewsome]

Actually, I sold 25 war nics from CRH and bought it, but my total investment was only the $1.25 face value of the nics. Gotta love that!

If I don't find silver it's not because I'm not looking!

 

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[vpnavy]

 

[SilverForBrains]

nicccce! I've held on to my war nicks because they take so damn long to find a full roll

 

[Iamrussell]

Id trade 25 war nicks for an ASE any day of the week
Nice job congrats

-------------------------------------
just keep stacking, just keep stacking, stacking stacking stacking

 

[FreedomUIC]

Actually, I sold 25 war nics from CRH and bought it, but my total investment was only the $1.25 face value of the nics. Gotta love that!

If I don't find silver it's not because I'm not looking!

You lost almost 1/2 ounce of silver on that transaction.

25 War Nickels contain 1.4066 troy ounces of silver which you exchanged for 1 troy ounce.

 

[GlenDronach]

You lost almost 1/2 ounce of silver on that transaction.

25 War Nickels contain 1.4066 troy ounces of silver which you exchanged for 1 troy ounce.

Yes, but at 35% silver, there isn't much of a market for them. I'd willingly lose some silver in a transaction to concentrate it. Most people don't even want war nicks at melt value.

Same thing I'm trying, trading my 40% in exchange for 90% halves.

 

[hrnewsome]

You lost almost 1/2 ounce of silver on that transaction.

25 War Nickels contain 1.4066 troy ounces of silver which you exchanged for 1 troy ounce.

You are correct, but I will trade war nics for ASE's at a small loss on ounces all day long because ASE's have a small premium, so you can't trade tit for tat, but at the end if the day I bought 1 Troy oz of .999 silver for a buck and a quarter. Feels like a good deal to me!

If I don't find silver it's not because I'm not looking!

 

[sjlund]

You lost almost 1/2 ounce of silver on that transaction.

25 War Nickels contain 1.4066 troy ounces of silver which you exchanged for 1 troy ounce.

Do you have a buyer for war nics at spot? I don't...

 

[fistfulladirt]

My LCS gets $5 min prem on an ASE. Ithink the trade was good and i'dve dun it.

 

[FormerTeller]

Good points all around. I wouldn't have done the trade, as I don't want to basically sell the same silver twice, but I don't find fault in anyone who does.

Right now 25 war nickels are worth $33.27 melt. Provident would pay $29.20 for them, and they sell ASE's for $27.24. However, you have to pay for shipping both ways. If you're doing a big trade, I'd go with Provident or another retailer. In this case, I'd say the OP made a good choice.

$1 Face Value of US Mint Silver War Nickels (1942-1945)
2013 1 oz American Silver Eagle | Buy US Mint Silver Eagles

 

[50cent]

I picked an ASE off a teller today for $1, I didn't even use AG coinage to pay for it. Outdone son. In all reality, you lost thirty dollars give or take for $1 face (if you are talkin silver for face value). I didn't loose a red cent.

 

[cooper36]

Yes, but at 35% silver, there isn't much of a market for them. I'd willingly lose some silver in a transaction to concentrate it. Most people don't even want war nicks at melt value.

Same thing I'm trying, trading my 40% in exchange for 90% halves.

your going to take a loss no matter what you get in silver. You might as well get what you want.

 

[FreedomUIC]

You are correct, but I will trade war nics for ASE's at a small loss on ounces all day long because ASE's have a small premium, so you can't trade tit for tat, but at the end if the day I bought 1 Troy oz of .999 silver for a buck and a quarter. Feels like a good deal to me!

If I don't find silver it's not because I'm not looking!

But it is not a small loss in Silver, it is almost a 50% loss.

25 War Nickels with a value of 33.29 - 1.40 toz. traded for 1 Silver American Eagle which you paid 33.29 + $1.25 (Cost of Nickels) for a total price of $34.54 dollars for an ASE.

While I am always one to say, "Do what makes you happy", you won't be doing this very long as you will be broke.

 

[FreedomUIC]

your going to take a loss no matter what you get in silver. You might as well get what you want.

And I do agree with you, but at this type of exchange he will not have much silver or money left.

 

[drewbaccas]

I would have made the trade. Ase s rule

Drewbaccas

 

[rpg25]

But it is not a small loss in Silver, it is almost a 50% loss.

25 War Nickels with a value of 33.29 - 1.40 toz. traded for 1 Silver American Eagle which you paid 33.29 + $1.25 (Cost of Nickels) for a total price of $34.54 dollars for an ASE.

While I am always one to say, "Do what makes you happy", you won't be doing this very long as you will be broke.

You seem to be assuming he would be getting spot for the War nickels. One, he would have to find a buyer who will pay spot for them. They are only 35% silver and not as sought after as 90% or .999. Two, war nickels often do not sell for their spot price because of the problems with refining them and lack of demand or them. Some of the silver is lost in melting them. Most refiners pay less than spot for them, as such most private parties and LCSs will pay less than spot as well.

Long story short, it's not cut and dry like you are trying to say. It was a solid trade. Considering what he paid for them, he didn't lose anything. He had $1.25 in them and the cost of picking up and dumping, so lets say $5 total or his nickels. He still profited big time.

 

[Eminem]

I picked an ASE off a teller today for $1, I didn't even use AG coinage to pay for it. Outdone son. In all reality, you lost thirty dollars give or take for $1 face (if you are talkin silver for face value). I didn't loose a red cent.

That's what I'm talkin about we are stacking so much AG we be bankrupting Detroit

 

[50cent]

That's what I'm talkin about we are stacking so much AG we be bankrupting Detroit

 

[TheCoinKid]

25 War Nickels with a value of 33.29 - 1.40 toz. traded for 1 Silver American Eagle which you paid 33.29 + $1.25 (Cost of Nickels) for a total price of $34.54 dollars for an ASE.

He paid $33.29 for the ASE ($1.25 cost basis+$32.04 appreciation), not $34.54.

 

[mercury1]

I like the deal he made. I would do it. ASE would put a smile on my face vs war nicks, I just don't get that excited about.In My safe deposit box, 90% or 999 takes priority.