Your thoughts on trades please

[GEOFF]

I am debate on 2 issues: Trade 40%s for morgans and Trade 40%s for a gold coin.

1. I visited the best price coin dealer around and average circulated morgans/peace dollars are selling at $27 a piece, common dates.

Being a true CRHer I did not buy them but offer to trade 6x 40%s for a morgan dollar. This would give him a 14.7% premium solely on silver content.

Provident metals is offering 6.33x 40% ($4.75 each) per low grade morgan. Which of course the dealer insisted to buy the 40% at 6x time face ($3 each) and then sell morgans at $27. No deal. He was kind of pissed off and flipped hand signs after I thanked him and left. What a guy.
I am not all that eager to get a morgan now (with hopes of finding one in the wild) since its AG for AG

How were my actions in your opinion?



2. I have enough 40%s for trade for a Swiss 20 franc gold coin on Provident Metals.

It’d cost me $39 40%s face to get it (including shipping both ways)

The gold coin has .1867 oz of gold and is selling ~ $356 right now. (~$324 gold worth)

$39 FV melt = $393
$39 FV selling at PM = $371
$356+$9(receiving)+$5(sending)= $370 give or take.
393-371=22
356-324=32
22+32= $54 premium plus $14 shipping.

So I am buying the coin @ 324/393 = 17.55% premium over gold

Good deal?

If I were to do this, should I insure my package with USPS? Its about $8.50 extra.

I know its up to me but how safe sending a package to Provident Metals and is PM the lowest legitimate coin dealer online?

 

[ArkieBassMan]

Your best value to get the Morgan(s), out of the options you listed, is to sell the 40% to Provident @$4.75 each and pay the dealer $27 cash (which is a very good price IMO) for each of his Morgan(s). If you just simply trade with Provident, at $4.75 per 40% and 6.33 40% per Morgan, you're paying $30.0675 per Morgan, plus you'll have shipping costs both ways.

You'll still have to pay for shipping to get your 40% to Provident, but you'll save the cost of getting your Morgans shipped back to you by buying from the dealer, and his price is better anyway.

 

[clovis97]

How about listing the 40%'s on craigslist at $5.00 each....of course, you are looking for a silver bug, and fishing for a big fish.

I am of the opinion that many people don't have a coin shop nearby, and or they don't know where to buy silver.

 

[GEOFF]

Yes, I think that is the best way to get a morgan!

my apetite for morgans have died down. lol

 

[quiksilver]

just sold 40%ers last sunday at 9X face, i would look to find a better way to sell. Too bad your not near me, i would pay more then 6-7 for them.