Asked in Coins and Paper MoneyUS CoinsCentury - 1800s
What value is a silver coin with a Indian head with liberty on the front and .999 with e pluribus unum and one troy ounce silver written on back with no year?
September 13, 2011 3:12PM
The value is what one ounce of silver is worth. It will be perhaps 2-8 dollars over silver 'spot' price, which you can get on the internet. It fluctuates you see. As of Sept 18 2008, with silver spot price at about $12/oz, it's value is about $16.
It's a bit more than just the price of 1 oz of silver. It's because there is a minting cost and ease of use of such coin. So today the cost of 1 oz of silver is 32.55 CDN and the coin with Indian Head would cost 35 CDN.
So the markup is not 2-8 dollars but just 2.5 dollars. There is NO 8 dollars markup on $12/oz coin!
Markup is usually 5-10% depending on the amount of coint you buy. The best value you get for 10 pieces in a roll of 1 oz, bullion.
Right now it would be also good to look for Mexican libertad and Canadian maple leaf 1 oz. Libertad CAN be potentially cheaper, as the minting cost could be a bit less in Mexico.
Also it's best probably to buy in jewellery stores. Because onlline you will pay 2 % extra for credit card of paypal.
E.g cheapest online maple leaf is now 37.12, but in Vancouver I can get it for 36 just walking in store on Broadway Ave.
Buy silver or perish in the incoming Great Tribulation!