0.40
1.70
= Offer Side vs. NY Close
Silver has historically been another commodity that has retained value and has been used as an investment by those unable to obtain or afford gold. In the 19th century, the value of silver was set at 1/16th of a like quantity of gold. Over the years, that ratio has broadened to over 65 to 1 with occasional fluctuations in demand driving the price of precious metals up or down. The U.S. dollar was based and backed by silver prior to 1965, when the price exceeded the amount used in silver coinage.
.999 Fine Silver
.999 fine silver is the most economical way to buy silver, as the price is determined by the daily trade markets and costs a small percentage over “spot” price at the time of sale. Spot is the price set by the commodity exchanges around the world each trading day and varies throughout the day. The price at the close of trading in New York is used in the US as a basis for trading for the remainder of that day or over a weekend.
Large quantities of silver are also traded “on paper” in futures and on the Chicago Board of Trade contracts where there is usually a fee for storage and a transaction commission.
Many refiners and coiners in addition to the U.S. Government make one-ounce bars, rounds and other shapes. Many have images of collectable items, famous people or historical events, and are sold as a collectable. The premium on one-ounce pieces is usually higher than for larger pieces, and collectable bars can be several times the spot price. Ten-ounce bars are usually generic in appearance and are somewhat less expensive per ounce than one-ounce pieces. Made by various refiners, they are generally not considered a collectable and can easily be stored by the investor.
One hundred ounce bars, or ingots, are similar to tens, but a little less premium is usually attached to them. Some are encased in plastic wrappers and may have a slightly higher premium. One thousand ounce ingots are usually stored in large vaults and traded “on paper”. The World Trade Center had vaults with a large amount of silver ingots in them, which had to be moved after the terrorist attacks of 9/11. As a “hard asset” they were salvageable with little loss other than the expense of moving and storage to a different locale.
At Christophers we have the smaller silver rounds and bars, “art bar” pieces of various weights and designs along with 10 ounce and 100 ounce bars in stock for your investment, collecting or gift giving needs.
U.S. 90% and Other Silver Coins
United States dimes, quarters, half-dollars and dollars have been minted since the 1790’s! Pieces dated 1964 and earlier are composed of 90% silver which is pure silver alloyed with copper to make them harder and less susceptible to wear and damage. Half dollars dated 1965 to 1970 are 40% silver overall, and have been traded for their silver content along with War Time five cents, or War Nix, (1942-1945), which are 35% silver substituted for nickel, which was needed for war materials during World War Two.
90% US silver coins are traded by the bag, which is $1,000 face value of dimes, quarters or halves, which may be circulated or uncirculated, the latter having a higher premium. Bags of silver dollars usually carry a larger premium, and 40% halves are proportionally less. You can buy any quantity of U.S. 90%, often called bulk silver or junk silver coins.
Bags of “90” have been valued at 5% to 10% above face value in the mid 1960’s, to an all-time, but short-lived, high of 2500% in the early weeks of 1980. At this writing, 90% silver is trading at nine times its face value. Some of the millions of dollars in silver dimes, quarters, halves and dollars have been melted over the past several decades, and reused or sold to overseas markets. No one really knows how much “90” is still available.
The market for 90% silver U.S. coins is less volatile than .999 silver bullion, and usually remains stable within a range of spot silver prices. Christophers has been a competitive buyer and seller of U.S. 90% coins in the local area for over 25 years.
American Silver Eagle
American Silver Eagle dollar coins have been minted since 1986, and for the first time in the history of US coinage, contain one full troy ounce of pure silver. These beautiful coins are modeled after the old Walking Liberty half-dollar and are larger than the silver dollars of the early 20th century. They are one dollar face value legal tender coins, and the U.S. Mint also coins proof issues of the Silver Eagle for collectors.
The uncirculated American Silver Eagle, or ASE, is often traded for its silver content, and although a slightly larger premium is usually charged for them than that of the bullion pieces, their value will remain as a collectable as well as bullion. They are investments recognized and traded worldwide, are guaranteed by the United States Government and qualify for investment purposed in IRA portfolios.
We have all issues of the uncirculated ASE, and some earlier proof issues in stock at Christophers Rare Coins. Come in and check out our inventory of American Silver Eagle dollars.
