Hello, new to the forum.

T

TooMz

New Member
Hello everyone, I am new to the forum and completely new to silver in general. My father passed away a few weeks ago and left me a box which contained ~100 oz of silver and a few other coins. I have been a huge baseball memorabilia collector my whole life but even though I just started researching silver and looking into it, I keep finding myself becoming ever more interested in it. I've been lurking quite a few forums before posting trying to get a feel for silver collecting/investing but still have a few questions.

1.) With the silver, I found a few proof sets. They are from 1959, 61, 62, and 63. All of them are opened except the 63 and they all have a melt value of ~$19. Would it lower the value of the 63 to open it or is there really no premium for these sets?

2.) What would be the best buys for long term investing? I hear a lot of people talking about buying ASEs but I am not sure if those weigh in a collectors value and would those be a solid choice of investing?

3.) Does the scrap value of a silver oz coin decrease with excess wear? I have a few that are almost completely black!

Thank you in advance and any opinions or suggestions will be much appreciated :)
 
Welcome ..nice to see you received such a legacy from your father.
 
Boyou said:
Welcome ..nice to see you received such a legacy from your father.
Click to expand...

Yeah, he was always buying and selling PMs and this is what he left specifically for me. I don't plan on selling any soon due to the fact it probably has more sedimental value right now that actual value but I'm very interested in adding to the collection :)
 
Hi & welcome from me too.
I'm a relative newbie too but have been made to feel very welcome here on SS. Good luck & may the force be with you ;)
 
Hi TooMz, it would make answering easier if you told us what the sets were.
 
DanDee said:
Hi TooMz, it would make answering easier if you told us what the sets were.
Click to expand...

Haha, You are probably right! They are all proof sets exactly like the one below.



yimrV.jpg
 
Hey! I'm pretty new at this whole silver shindig myself but I figured I'd offer my opinion to one of your questions.

The scrap value of your circulated silver (melt value, as I've seen most refer) is based on the weight of the coin, not the grade. So if the coin is worn it won't take away from the melt value nearly as much as it would if the coin was damaged (ie missing a good chunk of it). If you have a large amount of "junk" silver you're trying to get the melt value for and a good number of them are heavily worn I'm sure it would effect the total weight, and thus it's value.

Someone feel free to correct me if this is not the case.

-Mike
 
SilverMike said:
Hey! I'm pretty new at this whole silver shindig myself but I figured I'd offer my opinion to one of your questions.

The scrap value of your circulated silver (melt value, as I've seen most refer) is based on the weight of the coin, not the grade. So if the coin is worn it won't take away from the melt value nearly as much as it would if the coin was damaged (ie missing a good chunk of it). If you have a large amount of "junk" silver you're trying to get the melt value for and a good number of them are heavily worn I'm sure it would effect the total weight, and thus it's value.

Someone feel free to correct me if this is not the case.

-Mike
Click to expand...

+1. Buy your junk by weight not by shininess because that's all you'll get when sold (especially for melt).
 
bordsilver said:
SilverMike said:
Hey! I'm pretty new at this whole silver shindig myself but I figured I'd offer my opinion to one of your questions.

The scrap value of your circulated silver (melt value, as I've seen most refer) is based on the weight of the coin, not the grade. So if the coin is worn it won't take away from the melt value nearly as much as it would if the coin was damaged (ie missing a good chunk of it). If you have a large amount of "junk" silver you're trying to get the melt value for and a good number of them are heavily worn I'm sure it would effect the total weight, and thus it's value.

Someone feel free to correct me if this is not the case.

-Mike
Click to expand...

+1. Buy your junk by weight not by shininess because that's all you'll get when sold (especially for melt).
Click to expand...


As all stackers know ,there is no such thing as junk silver.silver is silver. when it comes to the crunch all the pretty boxed stuff is only worth its weight.
 
First I am a speculator. NOT a collector. I gather as much silver and gold for the least amount of out of pocket cash. I gather 80% Canadian junk, Aussie sterling silver. and .999 as close to melt as possible. With the Canadian stuff I bought for as low as 20% less melt and in turn flipped it for some .999 generic rounds. I was proud of that trade. Only advise I have to give is buy on the dips and sell at the peaks, so as to have a nest egg for the killer purchase when the serious dip comes along. My 2 cents.
 
Welcome to SS :)

As the others have said, melt value is precisely that: Value when melted, so it doesn't really matter what it looks like in it's current form :)
 
You must log in or register to reply here.
Back
Top