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 Replies: 26 / Views: 3,054 |
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Pillar of the Community
United States
548 Posts |
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Valued Member
United States
71 Posts |
I can relate alot with you as I am also new to collecting coins. I have alot to learn yet, but I have found I like the looks of the early halves in my collection. I just picked this one on ebay: http://www.ebay.com/itm/26091393547....m1439.l2648I would also like to know from the experienced people here how I did. I seem to be drawn to the barbers and seated liberties. Any advice is appreciated! |
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Pillar of the Community
United States
1510 Posts |
this part I dont like--
"No returns or exchanges,"
Retired USAF 1983-2003
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Valued Member
 United States
239 Posts |
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Valued Member
United States
239 Posts |
Oh and last night I bought another 1oz lot for $30 even.. shipping included. Considering the prize of silver was over $30 last night, I think it was a *decent* deal. Idk how you guys are buying these below spot, I have yet to see any go for spot. Most are 25+ times there FV. And jesus forget about the bullion, ASE are going for over $40! Is it normal to be spending $10+ spot for a 1oz round? |
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Pillar of the Community
United States
548 Posts |
Quote:Is it because that 1lb lot has War Nickels? That's part of it. First, precious metals are sold by the troy ounce. Those are different from the ounce avoirdupois that we use daily (16 oz av = 1 pound). There's 14.583 troy ounces in a pound. But the seller was saying there's 16 ounces in a pound. Yes, but not troy ounces. Second thing, "junk" silver coins contain 90% silver. But War Nickels contain 35% silver. Selling mixtures of these by the pound isn't fair. You should be able to calculate a fair price for that auction, assuming $31/troy ounce silver: 8 half dollars = $90 12 washington silver quarters = $67 34 silver dimes = $76 40 War Nickels = $70 total = $303 yet he's got a Buy it Now price of $427.49 40% over spot. |
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Valued Member
United States
239 Posts |
No no, I understand that a regular oz = 28.5 & a troy oz = 31.5? I cant seem to find anywhere on the bay where I can buy a troy oz of silver worth of 90% for spot or below. So I take what I can get.. I got about 60 grams of 90% in the mail on its way. Just returned from the coin collectors, I purchased $17 fv ($15 in half dollars, mostly walkers & $5 in quarters, mostly washingtons with 3 liberties and 1 barber.) I actually should of gotten $17.50, but that was my mistake. I paid 23x FV. Then my father bought 5 Morgan dollars for $36 a pc. I advised him against doing so, but he liked the look of them. Big haul for us, I now have alittle alittle over 20oz of "junk", assuming $1.40 fv = 1 troy oz. |
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Pillar of the Community
United States
548 Posts |
Remember that sellers have to pay ebay and Paypal about 12% combined fees. So if you want silver at 90%, that means I've got to sell it to you for 78%. Just not gonna happen. Occasionally, an odd lot or so will go below spot. But that's sorta rare. |
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Valued Member
United States
239 Posts |
Ya.. I guess that's how it is. How do you think I did paying 23x fv? It was x24 yesterday, and I guess he had to lower it because of the dip. Silver is back upto ~$29ish / o. I assume its gonna hang around the $28 - $30/oz range until mid jan... now my question is this, even though his prices were x23, he still wanted $36 for the morgans! Why is that? My father wanted a few because they looked cool, but @ $36, that's a lot for the premium. Are they more rare? I told my dad that we'd be much better off with the half dollars (plus, I love the way the walkers look) for junk silver purposes.
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Valued Member
United States
239 Posts |
And another thing, he has barley any bullion in his shop! All he could sell me was a 100oz bar, which is useless IMHO and one crappy looking oz round that was a birthday coin for a jennifer lol. He's got like 50 ASE's he said, but he bought them when silver peaked so he doesn't wanna sell them. But I doubt too many people will be selling there rounds / bars @ this price so like, he won't have any bullion until it goes back up inprice.. so looks like I am stuck with the bay for bullion. Can anyone reccoment a reputable online dealer where I don't have to spend like a 5k min? Id really like to buy some ASE's or cml's but no way am I paying $15+ over spot for them! (Which seems like the going rate on ebay. |
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Pillar of the Community
United States
548 Posts |
23x is fine. It's right around spot. Unless you're dealing with absolutely huge amounts, a percent or two either way isn't gonna make much difference in the long run. Think of this: if silver goes to $100, you're not gonna worry about that 1%. If silver drops, you're likewise not gonna worry about that 1%.  |
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Replies: 26 / Views: 3,054 |
First Page
Posted 12/14/2011 12:32 am
