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Wall Street Bets Looking At Silver Now After Gamestop Gains

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Pillar of the Community
Arkie's Avatar
United States
2637 Posts
 Posted 02/02/2021  05:52 am  Show Profile   Bookmark this reply Add Arkie to your friends list Get a Link to this Reply

Quote:
If you have $800 to spend, do you buy a Morgan that you know is probably going to go down like the Titanic at some point, or do you buy an 09VDB-S? 1913-S type II Buff? How about going into Large cents? Of course this will cause all these prices to rise to a level that casual collectors will be squeezed out of.


Perhaps you buy a MS 65 cc which has lost nearly all of its numismatic value.

Last time we were in the $30s for silver, I was buying proof Franklins, Colombian and Washington/Carver halves, and silver jewelry.
Pillar of the Community
United States
1590 Posts
 Posted 02/02/2021  9:04 pm  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
Arkie, the last time it was in the 30s you would not believe what was coming in the shop!

How about a OBW 1928 SLQ? OBW Carver halves. OBW Franklins, Washington quarters in the 50s, more proof sets than I could keep count of. Bust coinage that had not seen the light of day in decades. I had an old couple come in and the wife MADE her husband sell his CBH wittman for melt. To be honest I did not handle that deal as I would have given him a premium but my partner can be rather greedy. I can't honestly tell you how many rolls of 60s dimes, Quarters and halves walked in....and walked right back out to the refiner. How many modern commems did the same. My partner was tearing apart proof sets and dumping them in the pot, then throwing the cents and nickels into the cash register. It was absolutely insane. Greed has so affected his mind that he almost cut up a complete set of cameo 58 proofs! Each night I pulled coins from the pot MS mercs, early rosies, 60 Franklin DDO, MS WLH, and believe it or not XF and AU barbers! I remember pulling an absolutely gorgeous 1916 P-S-D set of WLHs from the pot that later graded in the mid MS range. Lol, that led to some interesting conversation as I asked where the rest of that set was! My partner when he saw, and realized he was not checking the dates, what they were almost lost it. He sure did want them back, but our buisness agreement was pretty specific and he had to take the loss, something he still complains about till this day. For a long time I kept a tray of the choicest coins that I salvaged. His son said he hated that display till the day I took it home. My lord he was even melting any morgan that was less than a "slider". Including a 94 and 95-O in XF.

Interestingly we have had little selling, and a lot of buying. In fact we are just about sold out of our "junk" silver stock. Our cull tray of Peace and Morgans that not that long ago were selling at $16 each are now selling for $30 each and we have sold through our first bag!
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thq's Avatar
United States
3343 Posts
 Posted 02/03/2021  10:40 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
One day later the bloom is off the metals boom. All of a sudden APMEX has stock on junk gold eagles again at 10% over melt. Yesterday's flash 25% premium is over.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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