View Full Version : Good deal or not ?

09-17-2011, 06:07 PM
To make a long story short, there`s this guy at the flea market who deals in antiques and , since he knows I buy silver, he showed me today some of his coin collection that he has for sale. He has about 5000 grams of sterling coins and he`s asking 0.95$CAN per gram no more no less.

I already purchased a 25 coin united nations coin set from him today for 590$ .

I am going back tomorrow and I`m looking to buy at least 2000 grams worth of his coins. All of the coins are in excellent condition and in plastic capsules. I noticed he has the "America in Space" complete collection book (the coins in the book have tarnished).

Is 0.95$ a gram considered a good deal for sterling coins considering silver is 39.96 in CAN dollars ; or should I wait and keep my money for Maples (maples will cost me around 4$ over spot). ?

BTW he is an old man and he`s been in pm`s for a long time...he told me stories about 1980 when silver was at 73$(CAN) an once. That was interesting:)

09-17-2011, 06:20 PM
try to get him down to .9 if you havent already, but i think its still a good deal at .95.

$.95 x 31.1 grams in an ounce= $29.54 per ounce, but since its only 92.5% silver your not actually getting an ounce (i assume unless he is saying .95 per 1 gram of SILVER, not gram of coin, in which case its definetely a great deal at $29.54 an ounce.)

ok so now 29.54 x .075 i believe (7.5% is what you need to make a 100%, i.e. a full ounce)

29.54 x .075 is 2.22, so now add 29.54 + 2.22= your paying only $31.76 an ounce, (my math might be off slightly but it should be very close).

I'd buy everything he has, this is an amazing deal. (as long as your a 100% certain the coins are legit and do contain 92.5% silver)

09-17-2011, 07:56 PM
Any numi value? What are the coins' nationality / origin?

Even if no numi value, seems like a smokin' deal.


09-17-2011, 08:30 PM
The guy also has a bag of canadian sterling stamps (gold-plated) ....

Everything looks legit.All his coins are Franklin Mint stuff (some people call them medals, but they look like coins), I do not think they have any numi value. When gold was nearly 1900 the other day he was selling 10k scrap for 18.50 a gram . That`s how I met him.

He knows his prices are more than reasonable, he says he prefers to sell directly to a customer at a low price cause he used to sell to the big companies but now he`s afraid the revenue agency will know his name and come after him. He also says he wants to sell his silver before the price falls like in 1980.

I will definitly buy the rest of his stuff tomorrow.

09-17-2011, 08:41 PM
Spot price * percent of silver / grams in an toz
39.96 * .925 / 31.1
$1.19/gram of silver

Under the current silver price, $.95/gram is a good deal to me, paying about .30 under spot