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Re: Tonight's Auctions 

By: Decomposed in 6TH POPE | Recommend this post (1)
Sun, 24 Sep 23 5:46 AM | 29 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 46056 of 58600
(This msg. is a reply to 45140 by Decomposed)
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We had a few interesting auction wins this afternoon. For a change, the auction house allowed for same-day pickup. It wasn't a long drive, so that's what we did.

For $26 (plus 15%), we won two coin sets: • Five state quarters, • A 13-piece U.S. Mint Silver Proof Set from 2016.

The five state quarters are collectible, but I'm not a collector. They're only worth $1.25 to me. The other set has 1.473 troy ounces of fine silver (a second source says 1.33826 troy ounces) and is accompanied by a certificate of authenticity. At today's spot price, the silver alone is worth $35.35, so it was a good purchase. Silverrecyclers.com says the set sold for $52.95 when it was issued, and that "The 2016 S silver 13-piece proof set in its original government packaging is worth around $115."





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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: Tonight's Auctions
By: Decomposed in 6TH POPE
Sun, 20 Aug 23 3:47 AM 		Msg. 45140 of 58600

Re: “The pieces shown came in at 1,860 grams (almost 60 troy ounces), and another nine pieces described only as "handles" weren't included in the weighing. I have no idea what the handles are or how much they add to the known weight. What I do know is that even with the buyer's premium (the auction house's fee) and excluding the nine handles, I'm paying close to $200 below spot.”I picked up the silverware today and had my confusion surrounding "handles" clarified. What the sellers meant was that the eight knives and one other piece, a pie server, have sterling handles but stainless steel blades. They therefore weren't part of the "sterling silver" that was weighed - after all, it would be impossible to assign them a weight that was meaningful - but are an extra 18% of pieces of unknowable (to me) value.

This does not change the numbers. There are 49 pieces of sterling silver weighing 1,860 grams. 92.5% of the weight is silver. 1,860 grams of sterling = 1,720.5 grams of silver with a value of $1,272.36 at yesterday's $23/oz closing price. There's a 15% auction house fee, but our winning bid, even after the fee and not including the "free" knives, made the purchase a bargain.

It was good to get that satisfactorily explained.

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