Today's Estate Sale Finds.

Was that $6.40 more than what you paid or less than what you paid?

Then you paid $6.40 above melt. As long as the coins and folders are in good condition, you probably did okay.

Another way to look at it...

If you are going to finish out the folders or use the coins for upgrading your collection then you probably did good.

If you are just going to add them to your silver stack, then you probably overpaid.

Yes.


Sound advice.

Talked with a long time coin collector/dealer (since passed) who said he went to an auction (maybe 20 years ago), found 8 GSA morgans. He bid $20, and his was the only bid. Lacking interest in anything else, he went to settle up with the auctioneer's assistant, and started calculating how much he owed, when he was told he had purchased all 8 for $20.

I use the (124) Not Allowed - Auto-Removed app on my iPad. When I calculate it on the app, it shows that I overpaid by more the 6 dollars. What is the 14 for on the formula?

Cascade is using a gross estimate where 14 times one quarter is about the silver content value, that's why you're asked to take the total face value and multiply by 14 and compare that number to the number of dollars you paid.

Anyway, nice find! And as the gold price is now going to unknown places (mainly due to the Brexit and the uncertainty it gives, I believe), I guess silver will follow. Even if you bought it as junk silver, you'll be good in a (short?) while, as you paid close to spot price.

Excellent.