silverDont-Tread-On.Me’s Chris Duane touts the rapidly vanishing constitutional 90% silver as the best physical silver investment, and the physical form of silver that will disappear first (as it already is, as the wholesale market is currently on a 6-10 week delay!) in this excellent interview on silver:

Constitutional Silver Will Disappear First!

 

2013 Silver Eagles As Low As $2.59 Over Spot at SDBullion!

 

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  1. Don’t get hung up on the premium over spot.  If you live in the U.S. buy a $100(face value) bag of Merc’s.  That’s 1000 dimes.  Everyone knows they are 90% silver.  No assay required.  U.S. Constitutional money is readily recognized and won’t be questioned unlike bullion rounds.  No issue with counterfeit.  You’ll need some small change to buy that loaf of bread.  The math works out to each Merc dime is 0.0723 oz of silver.

  2.  

    Funny, in another thread this morning I was extolling the virtues of Mercury Dimes.

     
    Great minds think alike, they always say…
     

    -  -  -  -  -  -  -
    Now for today’s LCS report:
    I just telephoned the two local coin sellers. Neither of them have any Silver Dollars and I have never known them to be out of these for so long. One of them is actually out of everything; he complained he can no longer purchase ‘Junk Silver’ without having to pay a a premium over spot. But the other told me that he still has some coins available.

    Although I will bring a printout of Coinflation’s prices for Silver coins, I am not going to be anal and insist this is what the coins are worth. But I will show it to them and report back here on the separation between Physical vs. spot prices.

    • Mammoth…Looked up your post on Merc’s.  Agreed.  Interesting factoid about Merc’s is that the portrait is Lady Liberty not Mercury. 

    • “Interesting factoid about Merc’s is that the portrait is Lady Liberty not Mercury.”
       
      Indeed.  The official name of the character on the pre-Roosie dimes is “Winged Liberty” and not Mercury.  The character LOOKS like what most of us think that Mercury should look like, so that’s what most people call those old dimes.  I like them and have some stacked… also Roosies.

  3. I’ll stick to the Constitutional Silver rather than the Fractional Silver Rounds, had a few and traded them in as I didn’t like them and as UglyDog said, everybody in the US will recognize the dime and be hard to fake and because I’m a 90% Man.

    • She’s got you by 10%, Charlie.  Better surrender now.  ;-)
       
      90% silver is great.  I have some but the premiums that are being asked for it by the on-line vendors these days are killer.

  4. Apmex is currently listing $100 face value backs (71.5 oz) at $2354.  That’s $32 an oz!  For people questioning whether there is a difference between paper and physical markets this should be pretty damn good evidence. 

  5. Who do sell your junk silver to and what do they do with it? 
     
    As I have mentioned in posts, in the UK, junk comes in 92.5% or 50% forms,  the former goes straight into recast bars for the jewellery trade, the 50% coins, I have no idea. Just curious what Americans do with 90% silver? If you do sell it on, is there a a discount because of the work involved in transforming it into a usable form.
     
    What about 40% silver Kennedys?

  6. My local coin dealer in Palo Alto is charging 22 times the face value of the coin.  A silver dime is $2.20 and a silver quarter is $5.50 by my calculations.  I asked if that price was closed to spot.  He said the spot price is too low so those are the prices.  I reckon its a good deal considering thats around $30.40 an ounce.
    If anyone wants to go, let me know.  We can carpool.

  7. Avatar of
    IndenturedServant says:

    LCS report:
    Had no trouble getting junk dimes at spot today @ 19.5x face.

    2013 Eagles were $31 and they had “lots” according to the owner.

    I picked up five of the “colorized” ASE’s for $30ea. He sells these to me at a discount and I pop them in my ultrasonic cleaner with plain water for 20 minutes to lose the color and they look mint fresh.

    Two silver coins that blew my mind were the junk Morgans selling for $31 each! Melt is just over $20. Unreal!

    Also, 2013 Silver Panda’s for $38! They were selling quick! Who pays $38 for Chinese silver?

    I split Ag 30% Maples, Eagles & Phils………30% junk (mostly dimes & quarters)………..30% rounds/bars………….10% sterling and pure silver coins, medals & medallions with a space related theme for fun.
    I_S

  8. nawwww, constitutional silver will never disappear because it the less likely coins to be melted and will always trade at any price,  where do they pull this from? their a$$z? at least explain how you came up with that conclusion …. these profiteers are most likely marketing an up coming SBSS constitutional-like coin, u watch!

    • They aren’t making any more of that and a lot of it has already been recycled to refiners.  It is slowly disappearing and will be very hard to find and expensive one of these days.

    • Those of us who have US 90% silver coins don’t plan on shopping with them or selling them all around the world.  ;-)
       

    • Not debating that.  :)
       
      He mentions that constitutional silver is the”best physical silver investment“.  I’m just pointing out that this doesn’t apply to anyone outside of the US.

    • ” I’m just pointing out that this doesn’t apply to anyone outside of the US.”
       
      Understood.  When people speak, they most often speak for themselves and from their point of view.  Others can add their comments too and before we know it, we have a genuine conversation.  ;-)
       

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