Lots of US silver eagles being bought

[jim4silver]

So far just this month, the US Mint has sold 5,172,000 silver eagle coins (according to the US Mint site). Seems like a lot to me. I had heard from one of my local coin dealers that he was seeing large orders for silver eagles by customers who apparently had not previously been buying PMs.

Glad to see people loading up on silver eagles, but I will stick to the cheapo generic stuff myself.


Jim

 

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[mts]

That's definitely PM positive. I like the looks of silver eagles but I don't like their premium. The Chinese are also minting fake ASE's at an alarming rate.

I've been buying a lot of different stuff recently just so that I have more variety to look at. Today's Provident Metals shipment included some junk Canadian halves and some 10 peso Hidalgo Mexican coins.

 

[Marchas45]

Yep! I've been buying a lot of junk silver lately, just bought 3 rolls of Kennedy 40% which I don't usually do but I bought them for $35.00 under spot just couldn't resist.

 

[mts]

Yep! I've been buying a lot of junk silver lately, just bought 3 rolls of Kennedy 40% which I don't usually do but I bought them for $35.00 under spot just couldn't resist.

That's a really good deal. I wouldn't pass that up either. The only junk silver I tend to shy away from is war nickels. 40% halves are certainly less desirable than other forms of silver. But if I could get that good of a deal on them then I'd buy them in a heartbeat.

 

[jim4silver]

That's definitely PM positive. I like the looks of silver eagles but I don't like their premium. The Chinese are also minting fake ASE's at an alarming rate.

I have only seen one example of a fake ASE floating around on the web. There is an often cited example of a 1906 American Silver Eagle bought from a China seller on ebay that looks very cheaply made and would easily be spotted as a fake by anyone who has owned a real Eagle (yes it was dated 1906 if you can believe that). I am sure there have been more but I cannot find any pictures or stories about them online. There are lots of fake old US silver dollars from what I have read though.

I believe that if someone goes to a reputable coin store and buys a new tube of Eagles there is pretty much a zero chance of getting fakes. That being said, I don't like paying such high premiums when I can get .999 for under a dollar over spot and get decent generic rounds/bars.

Jim

 

[Cleetus]

Lately I've been buying rolls of Franklin halves or 10 0z. Silver bars. I get whatever I can afford (and I can't afford much on my income) when ever the prices dip. Johnson Matthey has there smelter here in the town I live in. I think junk silver, as far a s the premium works out about the same as generic rounds. It's all good, and with the 90% coins, you actually have it in units of currency should bartering become widespread from currency collapse. Right now I feel like the dip just ended and prices will creep up from here.