Here goes.....the silver value of proof sets ???

[digit13]

I've looked the net and used the tool on this site. The collector in me likes the state quarter proofs sets given i can find em cheap. I have some of the clad ones as well. I know they were popular but I'm long term so that's for some poor future kin. My question is, given current prices, how much silver is in the 5 quarter set vs an eagle, leaf, etc. gonna be hunting this wet ground in upper SC this weekend. Thanks

 

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[digit13]

I figured it to about 6.

 

[bradley1719]

According to coinflation, 5 90% silver quarters are worth $14.20 at today's silver price of $15.70 per troy oz. They contain a total of 0.9042 troy ounces of silver.

 

[jim4silver]

Be careful with buying these types of things if you are buying large amounts (stacking). They are great looking coins but in the coin biz are not thought of as rare or even semi numismatic. They wholesale for much less than even pre 65 junk silver. Some coin dealers pay nothing hardly for these and wholesale them out in large amounts. If you can find a local guy willing to sell to you instead of wholesaling them out you can get a bunch real cheap. I did that a couple of years ago and wound up with several 2001 year proof sets (not just quarters but all the coins), that carried a nice premium over the other sets from that era.

If you can get them cheap they are a great buy since they have no wear and in 50 to 100 years might develop some numismatic value.

PS Here is a cool trick for figuring out how much you are paying for each ounce of pure silver when buying US junk silver - dimes, quarters and halves that are 90% silver.

Take the price you are being charged by the dealer per face value of the 90% coins, say $15.00 X face value, which is about where the price is now. Take that 15 X face and divide by .715, which equals $20.99, that is what you would be paying per ounce of pure silver if buying 90% junk at 15 X face.

If you want to know where a dollar of junk melts at a particular spot price (like how silver prices are quoted), do this. Take the current spot, say $15.50 and multiply by .715, which means right now a dollar face of junk silver 90% melts at $11.08 or so.

These "tricks" only work for 90% dimes, quarters and halves. For US silver dollars 90% use .7734, since a US silver dollar 90% contains more weight than one dollar face of smaller coins. I don't know why they did that but they did. Would have been a good arbitrage in the old days, to convert $1 in dimes, quarters or halves into US silver dollars, you would have gained more silver for the same price. But back then they didn't care because they probably always assumed coins would be made of silver and not base metals.

Just my opinion.

Jim

 

[digit13]

Thanks alot. I just started to read into th.715 equation last night. As always, you folks are so helpful.