Collecting Silver questions

[greenwenvy]

Hi I was hoping some of our smart and wonderful TQ members might be able to give me a bit if help/information on collecting silver. I did some research online and what I've read said the best to start collecting is 90% (coins pre 1965), with the next being bars, bullion, whatnot.

I've looked at sites on the web such as eBay, lynncoins, and a few others. But I've noticed that even though the price of troy ounce of silver is near $13, it seems everything costs more than $13 an ounce. I know for coins, the value is more than that of the amount of precious metal because of it's added numismatic value.

So my questions are:
1.) Is it possible to buy silver for the exact price (say $12.98 a troy ounce) it's going for or possible cheaper?

2.) If one is looking at collecting 90% coins how does one exactly calculate the amount of silver? For example on eBay I've seen "lots of 90% silver coins" with a face value of $7 going for say $25 to $30 dollars. How does one know they are not getting ripped off. Is there some kind of formula or table say 12 90% quarters equals to 1 troy ounce, 35 90$ dimes is equal to 1 troy once, or something of the such?

3.) What kinds of silver do you collect, and why?

4.) Do you have any recommended eBay sellers and/or sites to buy 90% or other types/forms of silver?

I've already started buying rolls of quarters from my local B of A, but in the 6 or so rolls I've bought I've never found anything before 1965. Which makes me think they have already gone through the change and pulled anything pre 1965.

Thank you all in advance for any info you can provide. I'm still learning and know the TQ community has a wealth of information.

Cheers

I don't collect coins, as the wife spends them as fast as I find them.
But Wyatt and others on here are very knowledgeable on the subject & you should get some good information from them.

[Metalman]

you will likely not find silver at spot unless you invest in the stock market at 1000 ounce minimums.

silver coins can be bought for below spot if you choose carefully what you buy and how much you pay ,

each coin has an ASW (actual Silver Weight) this is what is used to determine how much to pay based on the spot market.

dimes= .07234 ounces of pure silver

quarters= .18084 ounces of pure silver

Halves=.36169 ounces of pure silver

Dollars=.77344 ounces of pure silver

These weights are pretty much standardized throughout the years where silver coinage was produced,, there are a couple of exceptions but in general these weights will get you close,, with some deviation based on wear for each series.

for heavily worn coins ,, I total the coins by these figures and subtract 10% and I usually do ok .

keep in mind with bars and rounds the larger the purchase ,,the smaller the rise above spot or that should be the case if its not find another dealer.

Metalman

[greenwenvy]

Metalman that was some great info, thank you so much!

[John's Detectors]

I love Morgan silver dollars but I usually buy them slabbed or at least BU. I don't collect much of anything else. I have always liked Morgans because of their beauty when in like new condition. Ok good luck.

John Tomlinson,CET P=VI
John's Detectors
Blackwell,Tx.
Best Little Detector Shop in Texas!