Hi Stackers, I saw a few of these masterpieces in silver from RAM in my local post office going for $200. http://cgi.ebay.com.au/5-COIN-SET-1993-MASTERPIECES-SILVER-925-BULLION-/180652907333#ht_500wt_1156 This got me thinking, is there a disadvantage in stacking .925 silver coins? Correct my calculations if I am wrong Five 0.925 coins = 4.625oz of pure silver So $200 for set of 5 coins, 0.925 silver = 200/4.625 = 43 dollar per oz? Which is a bargain considering the current spot price. Comments?
Some might consider the Masterpieces sets harder to re-sell than 99.9 bullion (kooks, lunars) etc. However I reckon they are nice, AND if I were able to get them for under spot, I would. They seem to sell for spot on this forum, and for spot plus very small premium on ebay (depending on the year).
The 93 set is 5.32 oz Not every year is the same silver weight. After 1998 all MP is 999 silver I wonder how your post office selling 18 years old stock?
Good point, I could have the wrong year, but it does look like the 1993 explorer set I found on feebay...
0.925 is the purity of the coins ! I dont know why you have multiplied it with the number of coins. I dont know how come no one picked this up earlier. or maybe im missing something.
I think I remember someone on the forum saying that refiners will give you 50% of spot for sterling teapots,spoons,plate to melt. Why would they give you more for sterling coins to melt? As coin they have a certain value but if they are bought to recycle? Spelling
I multiplied by the number of coins to try and get the cost per oz. .925 is 92.5% pure which is why I multiplied by its purity. Again my maths could be completely whacked! lol
Some of the sets have 0.9999 coins - look here for the details: http://www.australianstamp.com/Coin-web/aust/proofset/masterpc.htm I don't really like 'collector' sets but some are nice to look at, but I prefer historical coins rather than made to be collector item coins. The sets are good value but a bulky storage issue.
Projack. City SS members have an advantage in buying silver. Eg. F2F sales . More stackers. Less Postage. Access to larger amounts of bullion. Country stackers learn these facts of buying silver by personal experience. But Country stackers have a few state silver secrets that sometimes gives us an opportunity to buy silver under spot. Old stock indeed? Regards Errol43
Silverc You might find it is too late! Can't say too much on here as there are a lot of silver sharks hovering around waiting to make a kill. Regards Errol 43
In general, refiners charge more to break down anything less than .999. That is why the premium on 90% junk is lower than on .999. The same for .925. Since I am not familiar with the coins, then you need to know the total silver weight content to determine the value. For example, a 90% US silver dollar only has 24.05 grams of silver, or .773% of an ounce.
