Puzzled why Proof Sterling Silver Commemorative coins sell for low/no premiums....

[Divmad]

....(e.g. the likes of the 1977 silver Jubilee 28.27gm issues) when all manner of modern, mass-produced "made-up" excuses for issues, sell at whopping £5-10 premiums over their spot values? And they are in proof condition, too!

[greendragon]

Sssssh!

I'm buying them as fast as i can!

 

seriously though , I think it is just snobbery

925 is not as highly regarded. despite looking pretty much the same.

 

There seem to be no 925 poured pieces too, just 999

So unless they are buying silver shot, then people are melting down perfectly good silver rounds to make

poured ingots ?

I am aware it is not the same to pour sterling as pure silver,

but i have seen the odd one, and once polished they look good

surely turning old spoons into interesting shapes would make sense ? 

[dicker]

I agree - about .925.

It is a fact of life that the RM turns out commemorative coins and they lose money for the poor initial purchaser.

I saw a bit of a sad TV programme where an elderly widow invited an auctioneer to value a very large collection of RM commemorative coins that her late husband had collected.  Naturally they were not worth what the widow thought.

Best

Dicker

[Divmad]

In the last three days I have picked up 4 Silver Jubilee proof UK coins at discounts to their underlying spot silver values, on Flea Bay. Unbelievable. It could be that there were so many of the Cupro Nickel format produced that folk get them mixed up, or are selling them as hand downs, not appreciating their true worth. 

[Chorlton]

If buying them best deals are on the secondary market just be careful as some have rapid toning and also handling damage. They are bit like buying a new car and losing value as soon as it drives off the forecourt. There are some very nice coins among them.

[Divmad]

2 hours ago, Chorlton said:

If buying them best deals are on the secondary market just be careful as some have rapid toning and also handling damage. They are bit like buying a new car and losing value as soon as it drives off the forecourt. There are some very nice coins among them.

Ok but what's my downside, if I am already buying them at spot or below?

[Chorlton]

None really as long as postage costs are accounted for.

[Divmad]

8 hours ago, Chorlton said:

None really as long as postage costs are accounted for.

Agreed. That's always part of my all in cost calculation . 

[HighlandTiger]

11 hours ago, Chorlton said:

If buying them best deals are on the secondary market just be careful as some have rapid toning and also handling damage. They are bit like buying a new car and losing value as soon as it drives off the forecourt. There are some very nice coins among them.

Toning isn't an issue, just drop them in a silver cleaning dip for a few minutes, they'll come up shining like new. Unlike 0.999 coins they don't scratch as soon as you wave a feather past them. 

[watchesandwhisky]

Buy near spot and sell near spot, these along with sterling flatware and pre 1947 coins are the most cost effective way to invest in silver. When the time comes be prepared to sell to a scrap merchant as no one wants them though, IMO thats their benefit - BUT if everyone starts going for them then they will be harder to find at spot or under.  Not everyone has the time or inclination to search out the deals though and thats fair enough. 

 

[Divmad]

1 minute ago, Madstacks said:

Buy near spot and sell near spot, these along with sterling flatware and pre 1947 coins are the most cost effective way to invest in silver. When the time comes be prepared to sell to a scrap merchant as noone wants them though. 

 

I wouldn't say "noone", Madstacks. It amazes me how fickle are Flea Bay buyers of these silver items you mention above. Sometimes at spot, sometimes below, but more often than not, a bidding war takes place and premiums are realised. Trying to figure out why this pattern occurs. Could be all down to lot description and pictures, and timing the end of sale in the weekly cycle.

[watchesandwhisky]

I think its down to shill bidding in some cases - or the odd buyer willing to pay that premium. Most buyers of these type items want them at spot or below but there will always be exceptions. Photos certainly play a part. 

[StackemHigh]

I see a huge amount of these RM coins on a weekly basis. If i wanted a complete set of £1 proofs and piedfort or £2's or crowns, a few weeks could get a full set of whatever you want. 

The supply of these certainly outstrips demand many times over!

[danmc82]

I collect Proof Crowns because they look great IMO. .925 doesnt bother me if I can get them cheap enough.

Some £5 crowns have the best designs out there.

[HawkHybrid]

the problem I have with sterling silver commemorative coins is that they are too similar to the

officially minted cupronickel coins of the same design. testing silver is hard enough as it is

without perfect 'fakes' being officially minted. people need to be able to quickly and reliably

tell the two apart. the way it is currently is just a pain to buy and sell.

 

HH

[MintageSeller]

I'm not sure, I'll be honest ill buy .999 & .900 but never .925 something about it, I just don't like and I can not explain it. 

[Divmad]

11 hours ago, MintageSeller said:

I'm not sure, I'll be honest ill buy .999 & .900 but never .925 something about it, I just don't like and I can not explain it. 

How about 0.5?

[greendragon]

22 hours ago, HawkHybrid said:

the problem I have with sterling silver commemorative coins is that they are too similar to the

officially minted cupronickel coins of the same design. testing silver is hard enough as it is

without perfect 'fakes' being officially minted. people need to be able to quickly and reliably

tell the two apart. the way it is currently is just a pain to buy and sell.

 

HH

this can be a bonus though

the official cupronickel fails the magnet test in spectacular form

and no eastern forger bothers to fake them, so a very simple test when buying gives piece of mind

No use when buying online of course, but then nothing is.

[HawkHybrid]

44 minutes ago, greendragon said:

the official cupronickel fails the magnet test in spectacular form

have you tried the magnet test with both sterling and cupronickel versions?

https://www.thesilverforum.com/topic/40360-how-reliable-is-neodymium-magnet-test/?tab=comments#comment-447697

a few are saying that the magnet test might not be as amazing as some youtubers are making it out to be.

 

bottom line is that I like things that make my life easier, otherwise it needs to be worth the effort.

 

HH

[greendragon]

5 minutes ago, HawkHybrid said:

have you tried the magnet test with both sterling and cupronickel versions?

yup

925 acts like pure silver ,slow slide at 45 degree

cupronickel falls straight off  

you cannot confuse the two

 

[PapaLazarou]

On 05/11/2020 at 22:19, StackemHigh said:

If i wanted a complete set of £1 proofs and piedforts...a few weeks could get a full set of whatever you want.

@StackemHigh

Can this really be true? I hope it is and that you are not, as I suspect, merely just "giving it the Barry" and offering hollow attempts at self-aggrandisement.

If you are happy to make this highly dubious statement then I challenge you to back it up. 

Please could you quote me a price for the 2012, 2014 and 2016 silver proof £1 shield coins and the Piedfort 2014 shield £1 and Piedfort 2016 last round pound. Somewhere near spot  - as per the original poster's enquiry - would be brilliant  - but I shall allow you a margin of 200%. I even offer you an extra week over your claim - a whole month as of today. No need to offer me a whole set, just the 5 coins mentioned. 

Unlike you I have found these five coins to be either hideously difficult to find or extremely expensive. If you can find and offer them at anywhere close to 200% above spot I will buy each and every one, assuming, of course, that they are indeed proof (or close to proof) condition.

I look forward to your help.

I will be both delighted and contrite in offering a comprehensive apology alongside my purchase if you can indeed offer the above coins. Should you prove unable to substantiate your alleged guff and bluster then I suggest you too offer an apology, explaining on what premise you made your empty, groundless and misleading statement under the gossamer veil of offering advice.

You should also reveal what the lowest available prices are for these five coins, for which you bizarrely claimed "The supply of these certainly outstrips demand many times over!" HAB and HAFO.

My money says you come nowhere near on any of these five...and I could name others.

I suggest a jury of peers to adjudicate. 

 

[MikeG1978]

I will take as many £2 silver proofs at spot as you can get 

Especially  the 2016 please 

I have always paid a premium as to be fair they are limited release and look great even though they are prone to toning

[richatthecroft]

9 minutes ago, PapaLazarou said:

@StackemHigh

Can this really be true? I hope it is and that you are not, as I suspect, merely just "giving it the Barry" and offering hollow attempts at self-aggrandisement.

If you are happy to make this highly dubious statement then I challenge you to back it up. 

Please could you quote me a price for the 2012, 2014 and 2016 silver proof £1 shield coins and the Piedfort 2014 shield £1 and Piedfort 2016 last round pound. Somewhere near spot  - as per the original poster's enquiry - would be brilliant  - but I shall allow you a margin of 200%. I even offer you an extra week over your claim - a whole month as of today. No need to offer me a whole set, just the 5 coins mentioned. 

Unlike you I have found these five coins to be either hideously difficult to find or extremely expensive. If you can find and offer them at anywhere close to 200% above spot I will buy each and every one, assuming, of course, that they are indeed proof (or close to proof) condition.

I look forward to your help.

I will be both delighted and contrite in offering a comprehensive apology alongside my purchase if you can indeed offer the above coins. Should you prove unable to substantiate your alleged guff and bluster then I suggest you too offer an apology, explaining on what grounds you made your empty, groundless and misleading statement under the gossamer veil of offering advice.

You should also reveal what the lowest available prices are for these five coins, for which you bizarrely claimed "The supply of these certainly outstrips demand many times over!" HAB and HAFO.

 

 I suggest a jury of peers to adjudicate - @CadmiumGreen  @trp @jultorsk, @47Ag79Au78Pt @richatthecroft @JonCL @Peterheat, @StackSellRepeat. @TheBeast. @SilverMike , @Frenchie, @TheShinyStuff, @HGr @Zhorro, @StackerCollector, @UnoWho, @SILVERFINGER, @damok666, @Gildeon, @Bullionaire, @ZigZag.@daca, @Jamesd, @Robda1986, @Abyss, @Happypanda88, @Marko, @MikeG1978,@Tn21,@platinreloaded @MrTT , @GavinDevon and @Roy 

 

Well this is escalating quickly...
Wait a sec... 🍿

 

 

[MancunianStacker]

On 05/11/2020 at 22:19, StackemHigh said:

I see a huge amount of these RM coins on a weekly basis. If i wanted a complete set of £1 proofs and piedfort or £2's or crowns, a few weeks could get a full set of whatever you want. 

The supply of these certainly outstrips demand many times over!

I’ll take a set of £1 proofs please. Cheers! 

[StackemHigh]

If I'm after an ego boost i would be using big words @PapaLazarou .

Maybe you would like me to post all my suppliers of cheaper silver and then you could fill your boots!