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 Replies: 18 / Views: 1,955 |
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Valued Member
United States
227 Posts |
Was Wondering what silver coins are going for 10 times face 12, 14 Some of these bins have AU 1964 Kennedys maybe higher. I have seen SLQ's WQ's Rosies, Mercs, Franklins, Walkers, even a couple AG Barber dimes. Are these Good deals at what point is it worth that many times face. Opinions. |
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Moderator
 United States
56855 Posts |
It's around 10 x face here in Michigan.
John1
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Bedrock of the Community
United States
10982 Posts |
Junk silver (U.S. 90% halves, quarters, dimes) is going for 10 to 11X face "ask". Spot has been hovering around $11 this week so 8X face would be a "bid" price.
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Valued Member
 United States
227 Posts |
My local dealer has bags that he is currently selling at 10.5 times face (varies by week). I looked through the other day I found a 1951-S in VF (not bad I thought) I passed on tons of other stuff: AG Barbers $1.05 AU 1964 Kennedys $5.25 some may be low MS VF Ben Franklin half dollars $5.25 F-VF Washingtons $2.63 VG-VF Mercuries $1.05 1927 SLQ $2.63 Nice VF-AU 1964 FDR's $1.05 VG-F Walking Liberty halves $5.25 Should I go back and get a bunch or only specific things on this list or is this not a good deal. I wouldn't want to pay more than I could sell them for. I am looking at this as an investment. I would like to keep them but need things that If I need to sell down the road to pay the bills I make a little bit. (Hopefully more than the bank .20% on savings account and 1.45% on a year CD absolutely ridiculous!) ANY opinions welcome. |
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Pillar of the Community
United States
1984 Posts |
My opinion is that short term, if you're not paying wholesale prices, the BEST you can hope for is to break even. Nobody has a crystal ball to predict the silver market, but if you're buying at retail and selling back to a dealer (or on ebay) you're going to take a hit either in buy/sell spread or in commissions to where spot silver probably has to go up by 25-40% in order to ensure you a profit on junk silver. I'd say more, but my daughter is giving me her 'see my starving belly' look and I must feed her. |
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Valued Member
United States
227 Posts |
No I understand the odds of turning around and selling right away for a profit are slim to none. I'm talking a year or two down the road. Plus I don't really consider alot of that junk silver some is but he's been letting me pick the coins out of the bag so I ignore the really junky stuff. I probably wouldnt buy anything less than F except maybe a Barber. My goal would be to be able to break even now and be worth something a little more down the road.
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Bedrock of the Community
United States
10982 Posts |
You could always make an offer at 9.5X face and see what he says. Silver could hit $13-$14 in '09 but no one knows. My guess is it will be 2010 before we see $15 silver again and that's a spot price where you could easily make a little money if you bought at 10X face.
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Pillar of the Community
United States
2602 Posts |
Two local dealers here. ONe sells at 9.5x face, the other at 10.3X face. The former buys at 9x and the other 10X (they say, but I'd bet they both buy from off the street customers way less than this)
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Pillar of the Community
United States
1208 Posts |
Less than 10x is where you want to buy.
When you exceed 10x, you are in full retail pricing.
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Valued Member
United States
205 Posts |
Great information thank you. Ive been wondering about this very subject lately.
Peace
ST~
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Pillar of the Community
United States
581 Posts |
Not recommended.
What you're proposing has a very small up potential and could have a big down potential. I think more people think that silver could settle at $8/oz rather than at $13/oz. But even at $13, very small profit for the associated risk.
<sigh> But by reading your posts, you sound like you're going to do this no matter what. :)
If you are, I would pick out G grade early Walkers, Mercuries, Barbers and SLQ's. Avoid the ones that are so worn they are wafers. These earlier dates also give you the numismatic angle.
Frankies, Kennedies, Roosies and later date Washies have very little numismatic value - they would be a pure bullion shot.
Having said this, I still would advise against it at those prices.
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Valued Member
United States
369 Posts |
I think another thing that Coinsrus was getting at, I think, is are any of those coins worth more than their value in silver. And will they gain value in the future because they are collectable, not just because they are silver.
I could be wrong, but if so, I'd like to know this myself.
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Pillar of the Community
United States
581 Posts |
Well, if you're looking for specific dates, any price guide will give you that information.
A general rule of thumb - keep anything pre-World War 2 that is in Good (G) or better shape - if you're going to be paying 10x or higher.
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Valued Member
United States
227 Posts |
Quote:
I think another thing that Coinsrus was getting at, I think, is are any of those coins worth more than their value in silver. And will they gain value in the future because they are collectable, not just because they are silver.
I could be wrong, but if so, I'd like to know this myself.
They got it right on the head. Some of the coins in this bag are truly junk silver. Others are not for example I rescued this guy from the grip of the "junk" silver bin. https://goccf.com/t/39975CoinValues says 20 so I'm guessing grey sheet is around 12 but I only paid $2.63 now obviously that was lucky I saw a decent grade S and grabbed it but what should I be looking at in these bins. I assume ignore 1964's because there are so many in higher grades. Mercs Run VG-VF in this bin now even common date shouldn't I buy every VF one I can get for $1.05. Franklins were in G-F are the F's a good deal at $5.25 or VG walkers at $5.25 I got a VG SLQ for the $2.63. It seems like a really good deal if your cherrypicking older types does it even matter the date for f-vf mercs wouldn't any f-vf merc be worth getting at $1.05 if you get better date that just seems like icing on the cake or am I wrong. |
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Valued Member
United States
372 Posts |
I couldn't believe this one coin shop I saw this past weekend! This guy actually wanted $23 for generic silver rounds, $23 for scrap morgans and peace, and $20 face for other scrap silver coins! I was so tempted to laugh in the guy's face, but I just walked away nicely.
Mike
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Valued Member
United States
227 Posts |
mmerc was this just before Christmas? One of the dealers told me wait til after Christmas people like to give silver rounds as gifts apparently (wish I got some). Anyway he told me the same thing, but added they'd be back to 1.00 over spot after Christmas. They can raise prices at Christmas time because demand increases anyway my point is if you were interested in buying silver you may want to try again now that hopefully the price has gone back down. If it hasn't then that guy is crazy and I can't believe he ever sells anything if those are his normal prices.
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Replies: 18 / Views: 1,955 |
Posted 12/31/2008 12:08 am
