Silver Coins you don't want. Avoid these Silver Traps.
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- Опубликовано: 17 окт 2024
- Which silver coins or bars you never should buy. And some you should.
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At least with milk spots you know it isn't counterfeit
😂😂😂😂😂
I believe there is a difference between a stacker and a collector a collector is one that buys slabbed coins and is looking for nice coins and is paying those premiums and would be more prone to worry about milk spots and defects. I am a stacker and am not worried about condition or milk spots or higher premiums! I buy for weight the cheaper the better rounds, bars, etc. And hold them for the future! I have a few collector coins but very few! Stay away from slabbed coins if your stacking for future is my suggestion! But that's my opinion! If it ever came down to a barter no one cares if it's slabbed or a so called perfect grade!
The great thing is you can do both… and you can find graded numismatic coins on auction’s for great deals if you look around. Not sure why people and stacker’s don’t really get that. I’m a stacker and collector.
@@tomhansen9050, however, if you sell a large quantity to someone like SD or Hero, they will check it and pay less for scratched/ ilk spotted.
The best coin to avoid is the one you cant afford.
I like your Attitude !
Telling people not to buy gold and silver because it’s not cheap is ridiculous , twenty odd years ago when I worked in the Western Australian gold fields I would buy gold nuggets, gold was $360 AUS . My boss would say why are you buying it’s so expensive, mean while he would drop $200 on each race at a ten race horse race and not win once . You sound exactly like him
Think about how much more money you would have now if you invested in dividend paying stocks back then lol
He was pointing out potential pitfalls prior to jumping into investing in certain categories. It was an informational video.
@@TheMostSlyFox can't knock a 2,000 dollar return on gold.
Lmfao....thank goodness I am me.🎉
@richardserzy2376 you'd have over 6000$ today, or 2.5oz, for 360$ then
Great segment, spot on. Lots of people have no idea and these things aren’t discussed much.
Spot on
Nice pun 🥁 😂
I've always recommended to my customers. If you just want silver/gold buy the cheapest form of pure that you can unless you can get cheap gold coins close to spot. You don't want anymore blue sky that you have to buy.
We’ve been collecting for 6 months now. Everything you mentioned here is intuitive, I’m happy to say. I’ve had a guilty pleasure of collecting silver 2oz metals, particularly limited series, gold-overlayed ones, but otherwise we just stack 1, 5, 10-oz coins and even kilos. When work bonuses hit, we add a few 1oz gold coins or bars. What an addicting hobby that’s actually good for us!
I agree with you on most everything you stated here. However, you can’t bring up milk spotting without mentioning the Royal Mint. One of the worst in my experience. Nice video brother 💪🏻👍🏻
Louie you are spot on. Thank you for buyer beware choices!
I like the 1.5 oz Canada Polar bear coins.
Everything you said is correct .We get wrapped up in the shiny pretty aspect while ignoring price. Even now dealers are dropping price as people dump silver.
You can buy silver with milk spots as long as you don't pay more than current melt value. There is absolutely nothing wrong with them, it is pure silver afterall.
I have broken open and cleaned the ballast concrete (or plaster), out of a GRUNCH of pewter candlesticks to melt down the high tin content pewter for another purpose and never cut myself.
Have not yet been fortunate enough to find any sterling.
I've never been a stacker ,but I started collecting coins about 30 years ago, and this is the video every collector/stacker needs to see.
I've been thinking about this for a couple of years now anyways,but I'm pretty much just waiting for the spot to come back up a bit and I'm selling everything except my dad's old Lincoln cent folders and I'm done.
Truthful advice. Going by my instincts I’ve avoided those coins that you mentioned.
Great video . People NEW to coins need ta see and understand this . I've been a collector / stacker most of my life . I'm 75 years old now . Tho I've been robed three different times also . Yea ya just never know who or when this happens ......it does ! I've been taken for more than $ 20, 000.00 worth of coins . Last time was 2004 . I had a SAFE ! So what . I have had a sub. with the USMint fer a LONG ,LONG ,Time . With the new high prices for Proof Silver Eagles .....I am giving up . $ 90.00 for New Eagle's now , no way . I might order " ONE " not the normal of three any more . thank you , Tom Daytona Beach , FL . 25 , July 2024 .
Sorry to hear about your getting robbed. Nobody expects it, but there you go. Be safe out there.
Silver is silver is silver
“Silver is silver” but when you pay more for less of it, the cool cliche isn’t really fitting. But hey silver is silver and more power to you 😅
@@Kenlydford I guess my point is I don’t worry about the price of silver because I’m really not buying it as investment. I’m buying it as wealth preservation for my daughter 20-30 years down the road when I’m long gone and she can sell it for whatever the price. Would I like to get more for less, of course, who wouldn’t. Would I like the price of silver to increase over the years, of course. But I’m fine If I don’t get more for less or if the price doesn’t increase over the years.
@@curiousrelic I hear you and I apologize if that sounded a bit snarky.. we all have have our purposes and that’s a great thing. I like giving family and friends silver for fun. I do get your point..
Great video Louie. Fortunately I have not bought any of these dogs. You have kept me on the straight and narrow silver wise. Great video Louie.
Thanks you. Good to hear!
Great advice Louie$ So far on the slabs I’ve been lucky except 1 time. And I have to say I think about that money I spent on 1 slab I could have bought 5-6 OZ’s. I’ll keep that slab to remind me each day. I’ve only bought the slabs after someone else bought and sold a second or more times! Be Blessed
I was thinking of buying copper rounds for the first time, and now I will buy nickles. Thank you this was very helpful
Any time!
The thing on ebay is that you CAN send the coin back. I have found with the smaller sellers its possible to find quite a few good coins raw which are significantly cheaper than they should be but you absolutely need to know your stuff for it to work out.
The thing is, many people won't send it back, especially if they are not sure about it. Anyway, that's what happened to me, and I don't think I'm unusual.
Sometimes my lcs will have slabbed coins for $1-2 more than generics so I snag em as a “hell why not”
I got a five candle opera candlestick holder for $10 and it is worth over $400 in silver value. I will leave it to my kids for inheritance when silver price goes sky high!
This is a very informative video . His information was mostly all correct and I agreed with it . This is obviously a very useful and informative channel .
Glad you enjoyed it!
I think 40% silver anything isn't worth collecting, including the Canadian Royal Mint coins (bullion) minted after 1966 or 1967 (whichever year they switched from higher silver percentage.)
Virtually all of these coins will be multiples higher once silver spot prices finally come into its own ! Stay strong
Great advice. Send your scrap sterling silver, 40% silver, and milk-spotted silver to sreetips as a gift and watch him have fun with it.
I am not mad at listening to this! I have made many mistakes in my collecting journey. I am interested to look into the nickels.
12:01....another AMEN!!! I bought around 30 Morgans and 15 Peace Dollars when I first started collecting coins around 8-years ago (knew nothing). They were shiny and sold to me as Choice BU from a National Coin Dealer who puts-out a a pretty monthly booklet that was mailed to me (Skyline Coins). Took them to LCS not too long after and found-out that almost every single one was cleaned! I damn-near puked that day! Since then, I ONLY buy slabbed Numismatic Coins from Reputable Dealers (NOT SKYLINE)!!!
I like the gold cetenario 50 peso coin
And, Sterling antiques and jewellery escapes confiscation..Always good to have a plan B.. And understand how perceptions change over time.
We the people are being price gouge by the US mint!!!
One specific point on Chinese Pandas. Pandas before 2011 are always worth buying because the mintages are very small relatively speaking. All prior to 2011 were less than a million and some were only 100k. So they will over time appreciate due to the numismatic value. But even 2011 the mintage was 5 million and anything post 2015 the mintages are in the many millions .
Very true!
I'm 90% stacker and 10% collector. And my hoard will back me up.
OMG!! FINALLY SOMEONE WHO STACKS NICKELS!! YAY!!! It is crazy how many People don't know that Nickels are the last of the purest alloyed Coins we still mint to this day, and that they were 2X Face Value back in early March, 2022. Now, what are your thoughts on buying Nickel Stock(Rods, Ingots, etc)?
I don't do much with that form of metals. Maybe search on scrapper channel?
I only buy slabs of stuff I want to collect, kookaburras and Libertads.
I wish Kookaburras were more appreciated by the market. They have so much going for them. A 500,000 maximum mintage (1oz.) yearly design change, and varying sizes, the 10oz and 1 kilo always make my heart skip a beat. The Perth Mint does so much right, but listing a mintage as unlimited, when it truly is not, is not helpful.
The 1 kilo kookaburra vs 1kilo libertad market I have always found interesting.
You can't go wrong with Perth Mint stuff, it is almost always a phenomenal product.
I had a bit of the 'collectible' silver bug for about 2 years there. Now I've come to my senses a bit more, and my higher premium purchases going forward I'll limit to Libertads and Kookaburras. At some point I had to realize I didn't need one of every cool coin, and that reality is unless you find another person into those coins, you are not going to get back that high premium especially at an LCS. And ebay takes 13+% fee so that is going to make it tougher to claw back the premium.
I finally finished the complete Kook 1 oz (BU) set last month. Future Years I plan to continue with the set buying a 1oz, along with a 10oz silver Kook.
Thanks for your advice and wisdom.
Also anything coming out of Royal mint since 2021. Horrible milking !!
I agree with just about everything. Personally the only slabbed coins I do are Pine Trees or Spanish treasure coins which I prefer to collect. I also invest in silver and gold bullion buffalo rounds..
Louie the future prices of silver go up and people buying MS70 graded coins are buying the future value of silver coins but good advise to buy spot prices for coins.
Great list to avoid- thanks Louie
Good video….need to make people realize “it’s only worth what you can sell for”! Just a fact
The RCM older silver to me is melt metals. The newer ones perhaps not but older definitely melt!
Thanks for the insight- I just started and found the info helpful. Everything I've done so far has been a good choice.
Great to hear!
I don't have a single Canadian coin.
Most don't have value and the market for demand for them are very low
Louie your video is to late for many stackers but I didn’t need your info on stacking because I only bought junk silver at my coin shop and the cheaper the better and I got many coins from searching my bank boxes and credit unions. That’s where you get the best deal is a Bank or credit Union or Coin Star machine .
Smart move!
Started with bullion and then went a little overboard on numismatic mainly raw Morgans and Peace. Thanks for your take 👍
I don't think you will regret the morgans/peace in the long run.
Louie I bought Canadian silver coins for spot price and I love them all because they stack just as nice as my other coins. Milk spots are just more evidence that they are silver coins and I never paid over spot because I know that my coin shop dealers needs to generate cash for payroll every month so I’m there to buy junk silver and he was there to stay open!
Brought back memories of buying Eagles + an occasional 10oz bar... Finally amassed 100 oz, traded mine for an old JM 100 oz poured bar. LOVED holding it & showing it off. ha Eventually had to sell, LCS gave me spot.. using the excuse "no one wants a poured bar nowadays"
Poured silver (my personal addiction) is hard to sell at the LCS, but on Ebay it does very good.
Yeah, I am disappointed in all the BU pandas I bought back in the day---- They just don't have enough premium value now. Thanks for a good video!
Pandas really used to be a thing. Kinda started downhill when they went to the 30g.
I appreciate your comments about raw coins on eBay. There are some good sellers but I agree most are garbage--I've stopped buying mid-grade raw coins on ebay and just stack BU coins from the majors. At least you have a chance and you can return them if you get a batch of cleaned coins. Great advice for new collectors.
The RCM makes the finest coins in the world. I love their 1.5 and 2 oz series. The only milk spots I own are on my Eagles. I’m really tired of SHTF barter nonsense, tomato seeds would be worth more than constitutional.
I guess LLouie does not go on Ebay and see what PCGS, NGC or even ANACS slabbed Silver Eagles are selling for. I have over 100 slabbed from MS69 to MS 70 DCAM when I started in 86. I have yet to sell them but soon I will when silver hits 40 dollars one year from now. They have 3-5 dollar premiums right now raw.
Excellent advice, my friend 👊 Guilty on some colored coins here and there over the years 😂 Darned Perth Mint
I think you hit it out of the park.
i use a soft eraser on silver rounds that are spotted, it’s removes the milk . saw it on youtube,
Louie what’s the best 1 Oz silver coin with lowest price to buy? I fell in to the eagle trap.
All things considered, Junk silver is your best investment at the moment (when you get it at spot) Costco or Ebay has some great deals on Eagles (they will come back), and after that, modern maples would be my go to.
@@losinglouie thank you for your insight
Probably generic rounds like sunshine mint or just go to local shop and ask for generic rounds
It makes no sense to be a serious stacker or collector and not have a means to test your metals. Yes, a Sigma is expensive, but it is essential if you're going to sink thousands into your pursuit. Sigma (or other metal tester) is one of your essential tools. These testing tools brought me peace of mind.
I always discern from these people who try to make it hard for you to buy silver like this guy
I usually consider candle sticks at 1/4-1/3 of an ounce for a pair.
The best thing i learned from you lately was when i saw how impressed you were with BU morgans and peace dollars at low prices. I bought the morgans at sd and then some peace dollars tubes of 20. Man, they were beautiful. Then i picked up some Washington halves on ebay and now I'm going through everything I have and getting BU tubes of 20 of it. Lol... It's costing me a ton. Gonna buy you a coffee for that one when i get over there... Thanks!
Thank you so much!
Washington halfs?
@@rainymctrixie1 1982 only commemorative half dollar
Many of the Canadian Maples I've bought over the last few years developed milk spots within months. Other batches bought remain spot free.
Remember the Gold one oz Liberty Trees last year. I jumped in and both had that squishy edge hidden in the plastic cover. Where the coin improperly pinched outside on the edges. What did they decide to do and how many ended up out in public that way? Yes I called them Liberty Trees and the Mints did not like that. I have a sneaking suspicion why but not for here. Hey I appreciate what you are doing. I been trying to correct my mistakes too. I did not bite on the new Peace and Morgan, it was just too high to be serious. Not that impressive. Just found you , good video man! Also been warned about the comeback popularity of the old Morgans. I like them too. One note, I was up in the northwest a few weeks back and met a new coin shop business owner. He told me he had buyer in line for anything Carson City. He got them and out the next day. I found that interesting. He also had some no oslabbed "fresh" meaning been in the someones basement a while. Nice Saint he thought would grade 64 or 65. I was very tempted for the next two weeks. But kept shopping and stumbled into a MS65 at a reputable dealer online. I figure they were just fishing for new customers, "ok"! but $500 less. Yes, different date but it still fit me. So tell me whats a 1922 MS 64 or 65 worth figuring you have to get it graded? Just fodder for your channel, but thanks.
Hi and welcome. I bought that one too, but wound up selling it. It was a pretty correct example. wish I would have kept it. With the Morgans, it's quite frustrating that no ordinary human can collect the date run in ms65. That's where the money is. I'm not really into slabbed gold. Just a hassle when you need to sell it. BU is okie dookie for me. But congrats if you get it. I'm sure it's pretty
My LCS buys 40%'s for 4 to 5 dollars per coin. I don't stack them, but I don't spend them when I find them.
THE CANADIAN COINS WITH SPOTS, MELT JUST FINE!! I TOTALLY AGREE WITH YOU ON MODERN SLABBED COINS, WASTE OF MONEY.
I love melting spotted silver!
I buy sterling at auctions, so I get it for a fraction of its value. The last time silver was high in 2011 the local shop was buying everything.
5:48.....AMEN!!! I've been saying it for years - quit buying slabbed ASE! The premium you're paying is INSANITY!!!! I wish the grading services would just slab the coin and grade it as "authentic"! There is NO DIFFERENCE between a MS-69 vs a MS-70. The grading companies try to keep the "70" grade to a minimum on purpose...to keep the pop #'s down. Let's be honest...with the Mint's technology these days, darn near every proof coin should grade at 69 or 70 anyways. And yes, you're correct on the "Panda spotting"....it's crazy!
100% on coins or bars from ebay. I want to add that low premium englehard bars on ebay are always toned in a bad way (poor eye appeal). They take beautiful pictures to “filter” out the bad toning. I’ve learned my lesson the hard way
I never make misteaks... lol
thanks i am doing housekeeping today on my collection
This is the hardest part of stacking, correcting mistakes. But, there's no time like the present to redirect that cash.
I have bought silver, at 3 different times in my life. The 2nd run, I liked saving the different Morgan’s. This time, it’s just silver, period. Bars, rounds, etc. I don’t think people are going to care, about a pretty or rare coin, when the SHTF. “This is a arson City or Oleans Morgan”! Really? I see .77 ozs.😝
Good thing all my slabbed eagles are "first strike" I know those are super valuable because Mike meezak said...😐
That’s the key to precious metals investing it’s the LONG LONG LONG LIFE LONG HOLD THAT MAKES THE MOST PROFIT. The guy born in 1930 that saved his pocket change for a lifetime has so much silver coinage he can sell at a huge premium today and make a million dollars on his chump pocket change. From 1794-1964 170 years we made silver coins for circulation then we stopped because silver prices popped! Silver will continue to raise after gold price is stagnant because silver is not as recycled as gold is today. Silver used in many applications is burned away or tarnish away but gold is still there sitting doing nothing when silver is out in the field doing all the work in many many sectors of industry. Gold has very little use when silver has thousands of uses for consumers.
My uncle taught me to stash large quantities of older constitutional. He had a steamer trunk full of indian head pennies. The trick is living to enjoy your genius!
Great show Louie great info!!!!
Much appreciated!
I've got some painted coins - I got them for the price of bullion though 🙂
Does it really matter? These aren't numismatic.... just stacking for the silver value.
I sold a complete 123 piece all inclusive ASE set slabbed and certified MS70 PF70 everyone from 1986-2024. I paid 14,000.00 dollars and it took me 5 months to put it together. I sold it to a well heeled collector for 45,000.00 in cash. I made a 31,000 dollar profit. I have two more complete sets for sale. No rush they will sell by years end.
I've seen MS 70 holders with milk spots hehe. Bullion in holders seems counterintuitive to me.
I bought 2 tubes of 2015 Pandas over the last few years. Now I'm worried about the fact that these 1 ouncers have no marking except the date and will probably be hard to sell especially for those new to stacking.
Most mint collector coins are way over priced and not something a stacker would buy in the first place. bullion and silver maples is what you want, milk spots or not.
I prefer constitutional silver
Best deals out there right now. Stack it up!
I fail to buy most of those. I buy numismatic coins and bullion but not the high premium stuff. Peace love & stardust. TomCat
Buy generic kilos.
Usually at spot or even under
Thoughts on Komsco stackers?
Way cool bars. IF you get them at a good price.
Hell, ive got a 100 oz bar that nobody will buy or trade , that i bought from probably the most famous of all coin shops. Avoid those also.
No worries.
I believe that the bank's (one's that survive) will open a teller window that will let you "borrow" against your deposited silver in the near future.
I got rid of all my Canada milk spotted coins don't waste money on colorized silver coins unless they is a good deal don't buy graded coins that are newer that is a great idea on stacking Cooper and nickel nickel is up to 7 dollars pound
I bought the Waterloo 2 oz coin from Royal mint and it's milk spotting. I'm not happy about that.
The Royal Mint produces toxic proof coins. I learned my lesson the hard way too.
People who stack buy 40% silver and 35% silver coins at bulk under spot price! I got my war nickels for .68 cents each and my half dollars for $1.50 each and that’s not even heard of today because today nickels are $$1.50-$3 and half dollars are $3-$7 each.
Nothing but the truth
I learned after my mom passed that sterling silver flatware frequently has ceramic or concrete in the knife handles, making them feel heavier as well.
Thanks to the dealer for a great demo and being honest and fair.
The Canadian wildlife series I bought at my LCS I'm sure I will get more than I paid for them.
A rising spot prices does soften any blow.
Oh nooo. More 40% hate. Oh well they were my 1st purchase in the 80s. I was fine with it but then i inherited my grandpas 40%. I really wish i had bought some 90% back then
In my stacking career, dating from 1965 when I got the gals at my high school cafeteria to separate out junk silver coins for me, I have never, not once bought "numismatic" coins. I've been a little more willing to buy Eagles at their high premiums and I have maybe 10-15 of them. Otherwise, I only buy junk or generic bars/rounds or generic bars, preferring Englehard or JM bars or Sunshine or Silvertowne bars. As for sterling, stick to name-brand forks and spoons. But you have to know what your weights and product lines are and you have to deduct a healthy 10% for the refiner's cut. Point being, I don't mind milk spots on Maples as long as I'm only paying a generic round price.
Why can 90% not be sold to refineries. The adage is 90% is limited because in the past, 90 was sent to refineries to melt.
I think it can, but the payout would be less due to the cost of refining.
Yes jm bullion also wouldnt buy my .999 silver state proof quarters either 😢 not even an offer on 4 mint quarter sets from 2019, but its weird on ebay all of a sudden all those 99-08 state quarters are way more expensive than ive ever seen, used to go for around melt now most have a 5 to 10 dollar premium
And i love how almost everyone has a top 10 to stay away from but no ever put people on these lists/ jk, ultimately ppl will buy what they like no matter what, i really like those 80s to almost current commemorative silver proof dollars, and the cost is usually right on or jus above melt, i think they are kool, dnt care bout the price, thats just a bonus towards what i like, but i also like morgans and buy them and some are outrageous price wise
I like my Panda collection.
I sold a milked Scottsdale 1oz Congo Silverback for full MSRP of $35 and the jewler didn’t care about milk spots he just looked at it and just put it in his drawer
Great advice.
Regarding 27:33, Dallas, Texas billionaire J. Kyle Bass bought 20 million 5 cent nickel coins at face value for one million dollars, because their cupronickel content is worth more than their face value.
Now that's a lot of nickels!
I paid $25 for those MS 70 2014 eagles.