What's a reasonable price for Silver Eagles, and 1 troy ounce silvercoins in general?

Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

The spot price for silver is around $14.37, as I write this. That's a
11% markup on the price of silver. Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.

Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

-Josh

"Joshua Beall" wrote in message
...
Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

The spot price for silver is around $14.37, as I write this. That's a
11% markup on the price of silver. Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.

Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

-Josh

To get the spot price you have to buy an awful lot of silver. And then if
you want to take possession, even more costs. Your best bet is small silver
bars from the local, if any, coin store.

TerryS

Joshua Beall exclaimed in news:c29502bd-a1f2-433a-
:

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

One of many sources:

http://www.apmex.com/Category/503/Silver.aspx

The deal with the Eagles vs. Silver rounds; the Eagles sell at a premium
but they will hold that premium. Rounds sell for just over spot but get
bought back for under spot.

Shipping and tax are also an issue. Best to have a shop nearby and no
state sales tax

--
BA

"Qui hic mixerit aut cacarit, habeat deos superos et inferos iratos."

$15.95 is about average for these coins. If you have an offer to buy some
from Littleton and the price includes shipping, be forewarned that you will
be put on their mailing list and will receive coins "on approval" at
inflated prices. More than likely, they'll offer to have you join the
Silver American Eagle Dollar Coin club where you can amass a collection of
all SAE's on a convenient monthly purchase plan. They will even throw in a
free album.

$15.95 and no additional shipping charges is an excellent price to obtain
these coins. Just remember to send back their "on approval coins" with the
words "DO NOT SENT ANY COINS ON APPROVAL" written in very large printing on
the invoice.

Littleton is famous for their loss leaders such as this offer to get new
customers hooked on buying coins from them. If you want to amass a
collection of SAE's you'll probably do better on eBay.

Bob


"Joshua Beall" wrote in message
...
Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

The spot price for silver is around $14.37, as I write this. That's a
11% markup on the price of silver. Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.

Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

-Josh

On Dec 21, 5:01*pm, Joshua Beall wrote:
Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

Littleton's introductory items are usually low-priced and only serve
to get you to take their grossly overpriced "approvals". Best bet is
to get the intro order and send back the approvals with a strongly
worded demand that they send no more approvals.

The spot price for silver is around $14.37, as I write this. *That's a
11% markup on the price of silver. *Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.

Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. *I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.

Unless you're buying huge silver futures contracts, you are going to
pay more than spot.
The manufacturing and distribution costs for eagles are reflected in
there price.
The fact that they are univserally recognized makes them easy to sell
too.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

You might get a better price for silver by buying "junk" pre-1965
silver US coins.

On Dec 22, 12:03*am, RF wrote:
On Dec 21, 5:01*pm, Joshua Beall wrote:

Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

Littleton's introductory items are usually low-priced and only serve
to get you to take their grossly overpriced "approvals". Best bet is
to get the intro order and send back the approvals with a strongly
worded demand that they send no more approvals.

The spot price for silver is around $14.37, as I write this. *That's a
11% markup on the price of silver. *Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.

Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. *I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.

Unless you're buying huge silver futures contracts, you are going to
pay more than spot.
The manufacturing and distribution costs for eagles are reflected in
there price.
The fact that they are univserally recognized makes them easy to sell
too.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

You might get a better price for silver by buying "junk" pre-1965
silver US coins.

You can't buy at spot from a dealer. "Spot" is for something like ten
thousand ounce transactions on a major commodities exchange and in
theory that silver has to exist somewhere in a "deliverable" form,
which ain't silver rounds or silver eagles.

Now sit down in your chair, and take a swig of coffee, Mr. Original
Poster, because this is gonna floor you too:

Nobody is under any obligation to PAY "Spot" when you want to sell at
some future date.

On American Silver Eagles, buyback prices are decently close to spot.
You might lose your premium if there hasn't been a lot of price
changes since the time you bought.

On less desireable forms of silver bullion (rounds, small bars [even
recognized makers], Mexican or Canadian "bullion coins") you'll most
likely get a dealer offer of 75 cents to two dollars LESS than "spot".

Actually, bullion silver and ASE's are low profit areas for coin
dealers, often with lots of heaving lifting and significant overhead
costs.

That's why dealers want to sell you Ultra-high grade slabbed Lincoln
cents. Nudge, Nudge.

But the spreads on silver are really no worse than some of the loads
and fees associated with many other financial industry products.

oly

oly wrote:
On Dec 22, 12:03 am, RF wrote:
On Dec 21, 5:01 pm, Joshua Beall wrote:

Hi All,
I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.
Littleton's introductory items are usually low-priced and only serve
to get you to take their grossly overpriced "approvals". Best bet is
to get the intro order and send back the approvals with a strongly
worded demand that they send no more approvals.

The spot price for silver is around $14.37, as I write this. That's a
11% markup on the price of silver. Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.
Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.
Unless you're buying huge silver futures contracts, you are going to
pay more than spot.
The manufacturing and distribution costs for eagles are reflected in
there price.
The fact that they are univserally recognized makes them easy to sell
too.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?
You might get a better price for silver by buying "junk" pre-1965
silver US coins.

You can't buy at spot from a dealer. "Spot" is for something like ten
thousand ounce transactions on a major commodities exchange and in
theory that silver has to exist somewhere in a "deliverable" form,
which ain't silver rounds or silver eagles.

Now sit down in your chair, and take a swig of coffee, Mr. Original
Poster, because this is gonna floor you too:

Nobody is under any obligation to PAY "Spot" when you want to sell at
some future date.

On American Silver Eagles, buyback prices are decently close to spot.
You might lose your premium if there hasn't been a lot of price
changes since the time you bought.

On less desireable forms of silver bullion (rounds, small bars [even
recognized makers], Mexican or Canadian "bullion coins") you'll most
likely get a dealer offer of 75 cents to two dollars LESS than "spot".

Actually, bullion silver and ASE's are low profit areas for coin
dealers, often with lots of heaving lifting and significant overhead
costs.

That's why dealers want to sell you Ultra-high grade slabbed Lincoln
cents. Nudge, Nudge.

But the spreads on silver are really no worse than some of the loads
and fees associated with many other financial industry products.

oly

The closest that a small investor can get to buying and selling at
"SPOT" is to invest in ETFs like SLV.

- dave

On Fri, 21 Dec 2007 22:03:54 -0800 (PST), RF
wrote:

On Dec 21, 5:01*pm, Joshua Beall wrote:
Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

Littleton's introductory items are usually low-priced and only serve
to get you to take their grossly overpriced "approvals". Best bet is
to get the intro order and send back the approvals with a strongly
worded demand that they send no more approvals.

Yes, to get a price like that from Littleton you can almost be certain
it is an offer where you are signing up for a coins on approval
program, probably the American Eagle Club. Check the fine print. Their
regular price for a 2007 Eagle is $26.95. Most of their prices are
higher than that of other coin dealers and you still end up getting
lots of mailings and catalogs from them. However, I do enjoy looking
through their catalogs, but I often buy the coins that interest me
elsewhere, sometimes for as little as half the quoted price.

On Fri, 21 Dec 2007 14:01:29 -0800 (PST), Joshua Beall
wrote:

Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

The spot price for silver is around $14.37, as I write this. That's a
11% markup on the price of silver. Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.

Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

www.apmex.com is good for small bullion purchases. The silver bars are
probably the best deal they have on silver unless you plan to buy a
LOT of silver.

Personally, I'd rather get one of the large (6-12 oz) silver rounds
since I purchase more for enjoyment than as an investment. I recently
bought a 2 oz. silver coin (2008 Australia Rat) and now I want
something bigger in silver even if it isn't legal tender or an
official Mint product.

"Jon Purkey" wrote in message
...
On Fri, 21 Dec 2007 14:01:29 -0800 (PST), Joshua Beall
wrote:

Hi All,

I have an offer here from Littleton Coins (http://littletoncoin.com/)
for up to 5 2007 Silver Eagles for $15.95 each, including shipping.

The spot price for silver is around $14.37, as I write this. That's a
11% markup on the price of silver. Now, since I'm interested in
silver only for the price of the metal, this doesn't seem very
attractive -- but as I've looked around for the price of silver coins,
this seems to be the best I've been able to find.

Clearly I'm not understanding something -- all I want is silver, at
the price that silver is sold for. I'm not interested in coins that
have some sort of "collectors value", though if the silver is in the
form of a coin, I wouldn't have any objection; I just don't want to
have to pay a premium for a coin.

Is an offer like this the best ($15.95 for a troy ounce of silver) I
should expect to get as someone only interested in small transactions,
or is there a better way to get silver coins (or silver bullion) at or
closer to the spot price?

www.apmex.com is good for small bullion purchases. The silver bars are
probably the best deal they have on silver unless you plan to buy a
LOT of silver.

Personally, I'd rather get one of the large (6-12 oz) silver rounds
since I purchase more for enjoyment than as an investment. I recently
bought a 2 oz. silver coin (2008 Australia Rat) and now I want
something bigger in silver even if it isn't legal tender or an
official Mint product.

If you haven't done so already, check out those Panama 20 Balboa silver
"coins" put out by Franklin Mint. Almost 4oz of .925 silver (1971-79) and
..500 silver (1980-85). Proof or uncirculated. The last six years of proofs
have mintages less than 4,000 and often sell for $100 and more. The earlier
proofs usually go for about spot on eBay in the $50-60 range. The uncs
aren't quite as "pretty", but most dates have even smaller mintages than the
proof versions.

Bruce