Traded in some 40s for ASEs

silveraddict · Jan 28, 2016

Traded in some 40's for ASE's

I decided to trade in some of my 40's from last year for some ASE's
I traded 420 for 40 2016 ASE's.
Since the 40's were all found at FV each ASE cost me $5.25.
I am happy with the deal.

CardsNCoins · Jan 30, 2016

Solid analysis from ABM as usual. :thumbsup:

For the record, I never commented on the OPs happiness, or lack thereof. And just because I'm not willing to make the deal he made doesn't mean he wouldn't do it again if given the chance. All I stated was that he lost 22 ounces of physical silver.

SFBayArea · Jan 30, 2016

Personally I would not have done the deal either. All of us here are stacking silver because we hope silver goes back up to the $40-50 /oz level or beyond. When silver was high, a 40% er was nothing to be sneezed at. I recall it being quoted as being $5.00 per coin by dealers and you had no problems selling them. I sold pretty much all my 40%ers I had at the time.

I'm only guessing since silver is low now that 40%er don't have the demand that 90%er or 99.9% coins do so dealers try to always lowball and ask more in return for them. 40%ers at the price of silver now are harder to get rid of whereas eagles are the easiest. But that would all change when prices rise. I think if the goal is be more profitable long term as prices of silver go up, it's better to not lose ounces as CardNCoins said.

That is not to say that 40%ers are not as pretty to look at as ASE's. I have bags of Fugly worn 40%ers taking up space in a large cloth bank bag. ASE's look really nice and stack up well in a container whereas 40% just take up space. That may have been taken into consideration as well.

LooseChange · Jan 30, 2016

CardsNCoins said:
Even though you ended your rant with the very popular adult phrase of big wup, I will still respond to you as if you can understand me.

Nick, even though you are trying sooo hard here to provoke, I'm not biting. Next thing you know, you are going to offer me the "last word" right? It will be "on you" right? Well, if that is where it is going . . . whatever (I took that from the same pocket vocabulary reference that I found "big wup").

I'm not going to respond to the personal attacks, just the argument. If you are genuinely challenging my maturity, let's see you challenge it by example - if you're up to it. If you are just picking a fight, then big wup, I'm done - last word or not.

CardsNCoins said:
You are stuck on dollars, and that is where your ability to understand falls short. My first comment in this thread never mentions dollars. Only when you mentioned "reasonable premiums" did I equate it to a dollar value...

If it wasn't clear, I was attempting to fully refuted any implication of importance on dollars. If you read it as if I thought the dollar value of the asw was important in any way, I failed to make my point. (See how I didn't accuse you of not having basic reading comprehension? Instead, I said that I failed in presenting my point of view). When I mentioned "premium" in the discussion, I intended it to be understood that the "premium" was in terms of oz of asw - because that was the trade. Not a premium in terms of USD.

CardsNCoins said:
He was holding 62.12 ounces of silver, and now he holds 40 ounces of silver. Period. End of sentence.

Those are the facts and you are correct in the math. What if he had nearly 3000lb of very silver-rich ore? Or, what if he had 1100 square meters of photographic film. Each of those things contain about 60oz asw.

CardsNCoins said:
I dont care if it is 40%, 35%, or fillings from your teeth, I always want to hold as much silver as possible.

I share that sentiment. OP doesn't. I respect OP's position equally as much as I respect ours - even though OP's is different from ours. I consider that to be the mature position.

CardsNCoins said:
Hmmm, I really like owning physical silver so I wont sell it for worthless paper, but I'll trade for a different kind of physical silver and take a 22 ounce loss.

If that's the way the "real world" you spoke of works, you can keep it.

There has to be some end-game to holding the silver. When it is time for OP to divest of his 40 ASE, he will get more for it than he would get for 270 40% halves (more of whatever, USD or

). He'll get more, but not as much as what he'd have gotten for 420 40's. There was a loss in held value, but not a 22oz loss.

LooseChange · Jan 30, 2016

mxh5891 said:
... I wonder how much gold the OP could have got? Ifeed he could have gotten a half ounce gold coin , a 1/10 ounce coin, and a gram bar or two that would have been a fair deal.

Right now is a BAD time to trade silver for gold. The gold to silver ratio is in the high 70's. That means that it is the perfect time to trade gold for silver. Then, when the gold to silver ratio is in the low 50's, you trade back to gold. If you follow that strategy consistently, you build your holdings of PM for free.

CardsNCoins · Jan 30, 2016

LooseChange said:
........There was a loss in held value, but not a 22oz loss.

What must life be like for those that so readily accept loss? I'm no economy major, but I'm gonna go out on a limb and say any loss is bad, especially the 22.12 ounce loss he took. Also, in case it wasn't mentioned yet in this thread.....

He was holding 62.12 ounces of silver, and now he holds 40 ounces of silver.

LooseChange · Jan 30, 2016

CardsNCoins said:
What must life be like for those that so readily accept loss?

Merry, lighthearted, carefree, cheery, happy-go-lucky, untroubled, etc.

CardsNCoins said:
... in case it wasn't mentioned yet in this thread.....

He was holding 62.12 ounces of silver, and now he holds 40 ounces of silver.

Focusing on the absolute is not always the best analysis. We could also say that OP was holding 420 coins and now holds 40. He lost 380 coins.

Davers · Jan 30, 2016

Being a normal kind of guy, not Rich , Not Poor , but well below middle class. FWIW
Also FWIW I'm Full of Anxiety

I can see both sides , I would want the easiest exchange as possible but would also want the best deal.
In short ...I could live with a 7-11 oz loss compared to a 22 oz loss
Not being on ebeay or a Dealer ,I would go with the easiest exchange. But as I stated I would still feel bad b/t 7-10 oz loss is all my OCD would let me live with. .

CardsNCoins · Jan 30, 2016

LooseChange said:
.........We could also say that OP was holding 420 coins and now holds 40. He lost 380 coins.

Yet another loss. Any gains to speak of?

LooseChange · Jan 30, 2016

CardsNCoins said:
Yet another loss. Any gains to speak of?

Maybe tiny bits of joy and pride. (Of course OP might regret sharing that pride with us by now :dontknow:

)

Liu21 · Jan 30, 2016

40x 2016 ASE, 20 years from now will> 420x 196X 40% half dollars. He traded non premium gaining coins, for some premium gaining coins. At the lost of what ever oz of silver, His lost will be made up over time. Now the only thing i do not like about what OP did is, he did not shop around for the BEST Deal. He could have sold his 420 halves took the cash, put them in the bank. Then went to JM bullion or something, and bought 40x ASE for a better price and still have some cash to buy cake or pie. :cake:

silveraddict · Jan 30, 2016

Than you all for your kind and mostly not so kind words on what I decided to do with my silver.
I know that had I spent more time I could have gotten more for my 40's. I could have opened an ebay account and a paypal account ( I have neither ) and paid the fees of both for selling. And since I have no deals or feedback might not get what I wanted.
I know that when I stated that my cost of the 40's was $5.25 I was not taking into account time and gas to crh. To me my crh is as much much needed relaxation and therapy as anything else. I have some health issues and a very stressful environment at work. Besides being with my wife and children there is nothing I enjoy more than getting out when I can to go bank hopping. And searching boxes lets me relax and not think about some other things. So to me the time I spend crh is not a negative cost.
When you say I lost 20 oz of silver that is not entirely true. I traded a cheaper oz type of silver for a premier oz type of silver so to speak.
1 oz of 40's (6.67 coins) will NEVER be worth the same as a 1 oz ASE. You have to factor that into it.
Plus as was stated above by Liu21 i believe the value of the ASE's will rise faster than that of the 40's.
As so many of you have pointed out I could have done better. If I decide to do anything like this again I will probably search my options out more to get a better deal.
But for now I am still happy with my little stack of ASE's that I got through my enjoyable efforts of CRH.
HH all

mxh5891 · Jan 30, 2016

silveraddict said:
Than you all for your kind and mostly not so kind words on what I decided to do with my silver.
I know had I spent more time I could have gotten more for my 40's. I could have opened an ebay account and a paypal account ( I have neither ) and paid the fees of both for selling. And since I have no deals or feedback might not get what I wanted.

Bottom line if your happy then no need to explain yourself.

For future reference it might help if you goto different coin shops in your area. Or try to put an ad on craigslist. Or try and see what provident metals or apmex would give you for them. You probably could have done better, but your way was the easiest and least amount of extra work.

CardsNCoins · Jan 30, 2016

Liu21 said:
40x 2016 ASE, 20 years from now will> 420x 196X 40% half dollars. ..........

Don't tease us like that, what else is gonna happen in 2036? Earthquakes? Moon vacations? Drinkable clothing?

LooseChange · Jan 30, 2016

mxh5891 said:
...For future reference ...

I'm going to pile on along with mxh with some advice for next time.

Next time, hold your physical silver (in whatever form you have it in) until the gold to silver ratio is 55 or less (55 units of silver to 1 unit gold). Then, take all of your physical silver (including those 40 ASEs you just got) to a coin show. Have 5 copies of an accurate written inventory of that physical silver and visit at least 3 different dealers at the coin show. Ask them to offer you a trade for gold bullion in any form (AGEs, Gold Maples, Pandas, Krugs, Suisse bars, whatever they have). Offer to leave a copy of your inventory and come back later so that they have time to process it. If any of them offer a trade in the low 60's, take it (but first, counter their offer a bit in your favor). That then sets you up to trade that gold for silver when the ratio goes over 75. You just do it in reverse.

Repeat that cycle every time the ratio goes unusually high or low. Right now is the time to trade gold for silver (ratio is above 75). I did it not that long ago.

Liu21 · Jan 30, 2016

CardsNCoins said:
Don't tease us like that, what else is gonna happen in 2036? Earthquakes? Moon vacations? Drinkable clothing?

Since 1996 ASE is the key date of the series, i cant that for comparison as it has a higher premium that all other ASE. Let us use 1997. JM Bullion has 1997 ASE listed for $28.84. On ebay a quick search shown a listing selling at $34.95. Logic dictates that 20 years from now 2016 ASE will increase in price. So you keep your 40% which is tied to spot price, I op for a little bit of both. Silver which tracks spot price, and silver that tracks numismatic price. Dont put all your eggs in one basket. :thumbsup:

CardsNCoins · Jan 30, 2016

Don't pick out anomalies. Here is the most recent 1997 ASE sale on eBay just a few hours ago:

1997 American Silver Eagle D569 | eBay

Final price.....$21.29 After paypal and eBay fees that fine seller walks away with....$18.24

Any news on the drinkable clothing?

Liu21 · Jan 30, 2016

CardsNCoins said:
Don't pick out anomalies. Here is the most recent 1997 ASE sale on eBay just a few hours ago:

1997 American Silver Eagle D569 | eBay

Final price.....$21.29 After paypal and eBay fees that fine seller walks away with....$18.24

Any news on the drinkable clothing?

Seller with the patients will win... over 50 coins sold, 19 of them @ $34.95....

1997 1 oz American Silver Eagle Coin One Troy oz 999 Bullion | eBay

mxh5891 · Jan 30, 2016

Liu21 said:
Since 1996 ASE is the key date of the series, i cant that for comparison as it has a higher premium that all other ASE. Let us use 1997. JM Bullion has 1997 ASE listed for $28.84. On ebay a quick search shown a listing selling at $34.95. Logic dictates that 20 years from now 2016 ASE will increase in price. So you keep your 40% which is tied to spot price, I op for a little bit of both. Silver which tracks spot price, and silver that tracks numismatic price. Dont put all your eggs in one basket.

I don't think your logic is right at all that the 2016's are going to increase in price. Only way they increase in price is if silver price raises. The only reason the 1996 is a key date is because of mintage numbers. The 2016's mintage is going to be the most sold ever so they are never going to become a key date or raise in value other then the small premium.

Make sure you are checking the sold listings when checking ebay prices. I used to make that mistake all the time when I was looking up what I could sell something for.