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Thread: Generic vs. Premium silver

  1. #1

    Default Generic vs. Premium silver

    It's been slow here on the forum so let's get some action going!

    I've said "silver is silver" for years and have mostly purchased generic silver unless the premiums were nearly the same (rarely). Others here often argue SML's vs. ASE's and Brit's vs. whatever. As always buy what you want, but I think we should all be aware of the results of your choices. My generic vs your government issued stuff.

    Assuming that one day in the future you wish to cash in some of your stash and the price of silver has gone up and you will be looking for more fiat than what it cost you to purchase your stash. So which pays off best? Generic or premium?

    https://www.youtube.com/watch?v=aC3UuxE23Lw
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  2. #2

    Default

    when i could years past, i bought ASE's that only carried about a $1.00 premium over the 30 cent premium of generic rounds or bars wither 10 ozt or 100 ozt bars. all the while i also bought the lowest premium bars and rounds i could find. to date, i have not nor will not sell the ASE's. The exception is the uncirculated/burnished boxed&coa's and the proof/box/coa's if i can get more than what i paid over the premiums those carry.
    Tubes of various yearly ASE's stay always. I made a couple gsr flips gold/silver or vise versa. only did that with generics of either metal. the outcome at one event brought me over 300 very, very diverse silver rounds. over the years, i have done very well marketing those at double, triple, quadruple the daily spot pricing as i sold on the ebay circuit. i still have a hundred or so of those specialty rounds (all really generic but people buy them as collectible). that being said, i have seen greater potential with the generic bars, rounds than the govt coins. i have sold canadian, brittish, australian, etc coins and rarely got back the premiums i paid per tube at time of purchase. the way to profit in my mind is to buy low and sell when spot is high. i am currently waiting on 2 things. the prices of both AU and AG to return to early 2011 pricing. (AU is already here) AG needs to catch up which means that the gsr spread should tighten up considerably. hopefully 40/1 or even lower. at that time ALL the generic silver goes and is converted into gold.

    my answer, bottom line is that unless you limit yourself to a tighter collectible market with high end premium govt mint coins of any nation, and increased difficulty in selling for high returns, ........... my money is on generic.

  3. #3
    Join Date
    Mar 2009
    Posts
    11,754

    Default

    Each person has there own views LDS. I use to have a bullion collection and played the semi numi side separately. Was a lot of fun and also a slight gamble. Often buying 5 or 6 Aussie Lunars, and selling 4 down the road for the one or two free ones. Same with Pandas, buy a half sheet or a full sheet, send them in and get them graded and ended up with several free ones after all that work.

    BUT....the one thing that has changed are the shipping rates. Ebay or Paypal changed their policy and now require registered shipping to Canada. I put up with it for awhile, but I was paying an extra $31.00 on average just for shipping. More than that from the Perth Mint as they use FedEx. Canadian Postal rates have more than doubled in the past 5 years. The round trip rates to NGC more than doubled. The last 3 separate shipments the Canadian Border charged me import duties, then I have to file for a refund as they were all .999. What a pain. So I gave up. Just hold my bullion for now and a few collections, but not actively trading the numis any longer. Has to be something I really want or desire.
    ...be your own Health Care System... grow your own and eat well

  4. #4

    Default

    i wrote my reply before watching the video link posted by longdon. the video pretty much coincides 100% with my reply

  5. #5
    Join Date
    Mar 2009
    Posts
    11,754

    Default

    ...same here Max.
    ...be your own Health Care System... grow your own and eat well

  6. #6

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    Years ago I bought ASE's since the premium wasn't very much more than generics. But back in 2020 (0r 2019??) when the low premium sale events dried up on ASE's & SML's I stopped buying them. Last year and this year the ASE premiums went crazy high and I thought about selling them off, but so far have held off. I have been swapping some cull 90% US junk silver I picked up at 10 times face (or lower) and replacing it with .999 bars. I've been getting 18-20 times face for the cull silver. Last year I did pick up some 1 oz Britannia coins but only when the premium wasn't much over the premium on silver rounds. As for swapping silver for gold, I'm all for it if (when) the SGR changes closer to the norm.

    I do have a few semi-numi "bullion" coins, mostly proof Britannia coins including a one year only 20 ounce Brit than I picked up from the English mint at release time. I guessed that it would not be an annual production piece and paid well over melt. It is worth well over melt still. Was it a better investment than silver rounds I could have purchased? Don't know. I'll bet it will be a B-itch to sell since I have to find a dealer interested in the numi-value. One other thing that comes into play with "weird" limited edition coins, IMHO. In the past I might have put it on eBay, but lately they've turn that into a bag of snakes and I've been turned off with dealing with them. Either buying or selling.

    Until Bronkster1967 introduced me to the coin shows in Albany I've been in a dead zone for coin shows. I refuse to travel down to NYC with bags of silver or gold, let alone fists full of cash. The only local coin, stamp and collectible all rolled into one shows held near me died with Covid and it doesn't appear they will return soon. Not that they were worth attending anyways.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  7. #7

    Default

    Over the decades I've picked up some really good buys on silver. ASE for $80 a roll. 100oz silver bars for $500 and $600 a bar. Many silver dollars, most around $15 each (many semi numi), Mexican rounds under spot, lost count of the junk silver half, quarter and dimes. Almost all at or under spot at time of purchase...Then around the mid 1980,s I started buying gold and that's a whole other ball game...LOL The kids will love going through this "stuff" when I'm gone.
    Last edited by Lawrence; 02-20-2022 at 07:44 PM.
    Stacking since the late 1970's

  8. #8
    Join Date
    May 2013
    Posts
    1,490

    Default

    I just stack the metal(generic), and, also 90% junk coins...Some scrap sterling, and recycled metal with assay. I keep it simple...When the time comes I just want to think about ounces and price, not all the other gobbledy gook.

    Ag guy
    Last edited by Ag guy; 02-20-2022 at 05:31 PM.
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
    This life is the training of the soul for the life to come. (accept that we live in a fallen world)
    Whether you know it or not, you are a spiritual eternal being! Ag guy

  9. #9

    Default

    Quote Originally Posted by Lawrence View Post
    Over the decades I've picked up some really good buys on silver. ASE for $80 a roll. 100oz silver bars for $5 and $6 a bar. Many silver dollars, most around $15 each (many semi numi), Mexican rounds under spot, lost count of the junk silver half, quarter and dimes. Almost all at or under spot at time of purchase...Then around the mid 1980,s I started buying gold and that's a whole other ball game...LOL The kids are love going through this "stuff" when I'm gone.
    wow, great going Lawrence. sounds like you have the largest least expensively purchased stack of most if not all of us here. congrats on your foresight back then.

  10. #10

    Default

    yes, and also, i keep wondering if i should dump all the us nickles and coppers i have gathered at face value. there are many, many, many bricks of these coins. just do not wish to burden the kids with unloading this crap once i fade out.

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