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Ant
Penny Hoarding Member
USA
894 Posts |
 Posted - 07/12/2008 : 19:57:55
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When you buy bullion coins, do you think of the price in terms of percentage and/or amount over spot, or as a multiple of face value (like 12x face)?
I always think of it as the amount over spot. I never considered thinking of it as x over face value until I came on this board. I can see how that is a simpler, more constant way to think of it, though.
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Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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fb101
Administrator
USA
2856 Posts |
Posted - 07/12/2008 : 20:19:57
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| Multiple of face value is usually spot, the difference is the amount over/under spot. I like buying at 10% under spot, regardless of the multiplier. That's how I use it anyway. |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/12/2008 : 22:02:48
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| Junk silver I think of as "times face" and bullion I think of in terms of spot price. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/12/2008 : 22:28:16
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| for the last 6 months it has been about 12X face no matter what silver has been.Has crept up towards 13x lately(ebay prices) |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/15/2008 : 22:48:26
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| I always think of it in terms of times face. I know off the top of my head the amounts of silver in each coin (i.e. 0.3618 ounces in a silver half) but I do all of my dealings times face. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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fb101
Administrator
USA
2856 Posts |
Posted - 07/16/2008 : 07:33:08
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Let me clarify my incomprehensible comment (a specialty of mine). If I'm looking at a batch on ebay and there's 1 minute left, its real easy to count up the $ total (8 quarters, 10 dimes, 3 silver halves) and say "that's $4.50 face, so 12x4.5 = $54 melt value approx. Based on that quick calc, I can bid if I want to. If I'm willing to go 10% over, I add $5.40 quick. -
The whole thing is it's just for quick in the head calc. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/16/2008 : 13:57:48
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Damn,10% over,you need any silver.I'll even give ya some better date mercs and walkers for that price.
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Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 07/16/2008 : 20:08:02
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| I think in terms of X face as well when I go looking to buy silver coins. Look at prices on coinflation which list the multiple of face as a percentage. So 1224% of face = 12X face. Just work from there. US 90%, CDN 80%, CDN 50% and US 40% multiples of face are the numbers you need to figure out before browsing. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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fb101
Administrator
USA
2856 Posts |
Posted - 07/16/2008 : 21:27:48
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Just an example....  Last year I grabbed a lot at 10% under melt, and I was getting so much I had to draw the line at 15% because I was wrecking my budget. I was getting Morgans as low as $9 including the shipping in small batches. About a month ago, I got 4 walkers for $18 including shipping. The average cost of my small hoard is $7.35 an oz. I don't include safe deposit box fees. |
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Percentage over Spot vs. Amount x Face Value
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