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Author	Replies: 14 / Views: 1,318
Sixthcents Valued Member Canada 135 Posts	Posted 07/30/2012 11:01 pm So I wanted to get my feet wet and explore the potential of buying silver from ebay. I do realize for larger purchases, I have options to wire money to places like AMPEX or I can order from the RCM. Anyhow I had a few bucks sitting in the Paypal figured about the only place to spend it on silver was ebay. I made myself dizzy looking at 1/4 and 1/2 oz rounds, wafers etc. Then I came across the "fake silver" type videos on Youtube. This cut down the number I had to choose from. I was just about to give up, because I am not prepared to spend $90/oz on silver lol. Then I stumbled across a 1961 Franklin half dollar. I bid one increment over the max bid at the time, now I own it. I paid $12.77 plus ~$2 shipping. The auction only had minutes left, so I did not take the proper time to research properly. So now I am here looking for approval or scorn. I like that this coin has numismatic value aside from bullion. I also like Franklin, so I do dig the coin. Also having "Federal" money let's me declare it for face value should I transport it to another country. I can't seem to copy the picture from ebay to show you. In my opinion it is a decent coin, not just "junk" silver, but maybe it is considered "junk" by others. So how badly did I over-pay? I do realize that you pay a premium over spot for minted coins etc, It's just hard to stay tight to that in this lower snack-bracket. I think it has a melt value of around $9, so I suppose I already paid %25 over spot lol. Anyhow it is just a fun experimental purchase just to test the waters on ebay. The sad reality is I lost much more "earning" the money on ebay lol. I am planning of doing a large order in a few months, which I will purchase Maples or coins directly from the Royal Canadian Mint. I just want the ability to spot some reasonable deals on ebay, for the smaller amounts. What do you guys spend for junk silver on ebay? 90%? It seems very competitive on there, I don't think I saw anything for spot plus shipping. Basically when it's all said and done, I have 1 cent invested, (Sold a steel penny that I sold), so it's not as bad as it seems. However I still have some learning to before making larger purchases. (Aside from the RCM which makes it fairly easy) I can now see a real advantage to the want-ads on this site. I likely could have traded my penny straight-up for a silver dollar or an ounce bar etc. Report this Post to the Staff

acloco Pillar of the Community United States 3540 Posts	Posted 07/30/2012 11:20 pm There are several silver coin melt value calculators available on the internet. Easiest to figer so many times face value. Report this Post to the Staff
Steele Pillar of the Community United States 1119 Posts	Posted 07/30/2012 11:27 pm As to the price, for ePay you did ok, melt value a little over $10. condition can affect price a little. You can buy two Franklins from APMEX for a little under $24.00, but to make it worthwhile you need to buy more than just the two. The shippping is higher, I think its 14.99 minimum. so to make it even you would need to buy 3 sets of two. Mostly I buy my junk from a a few local coin shops at around 20-22X face value depending on where I go and the guys mood. The quality can vary from worn thin to brand new silver proof coins. got six proof State Quarters one time, actually over two instances within days from the same shop. Report this Post to the Staff
traevin Pillar of the Community United States 1454 Posts	Posted 07/30/2012 11:48 pm 20x face value seems too high but I guess that's the going rate, anymore. Wish I'd stocked up when junk silver was around $10 face just a couple of years ago. Report this Post to the Staff
coinwatch Pillar of the Community United States 808 Posts	Posted 07/31/2012 12:06 am You paid a premium over spot, no question. If the coin grades favorably, it may turn out be a good deal. Either way, you'll know once it arrives. I've always considered the "first" coin I buy in a new and unfamiliar series to be a learning experience so that, to my mind, makes the price paid mostly irrelevant. In my opinion, the Franklin half is easily one of the most interesting and collectible 90% silver coins to ever enter circulation in the US. It's incredibly short 15 years of minting came about due the the tragic loss of JFK so it's historical relevance is unmistakable. Finally, the coin itself has some very unique design elements, particularly the small eagle on the obverse. Once you have the coin in hand, I'd be very surprised if you don't find it to be a satisfying addition to your coin collection. Nice buy! Report this Post to the Staff
Steele Pillar of the Community United States 1119 Posts	Posted 07/31/2012 12:14 am traevin- I wished I'd stocked up too. Never under 20X anymore. I remember when silver was cheap I would find much more than I do now. Report this Post to the Staff
traevin Pillar of the Community United States 1454 Posts	Posted 07/31/2012 12:23 am Thanks for the education, CW. I wasn't aware of the Franklin's historical relevance as a comparatively brief release. Only 15 years in circulation? Interesting. Report this Post to the Staff
Sixthcents Valued Member Canada 135 Posts	Posted 07/31/2012 06:39 am Thanks for the feedback guys. I was not aware of those calculators for silver coin melt values. That's very handy. As far the small Eagle, I learned that it is law to have that Eagle on every coin, despite Franklin's dislike of the bird. I can't say that I have noticed an Eagle on a penny, it must be the exception. Lincoln is popular. I will post a picture of the coin when it arrives. The wait begins lol. Report this Post to the Staff
silvercoinrn Pillar of the Community United States 863 Posts	Posted 07/31/2012 09:07 am I have a 20 x face number set in my mind. If I can find it for that price on good looking coins I try to buy it. I know someday I am going to be like the rest of collectors saying I wish silver was still 20xfacemeet and that you can never find it cheap anymore lol Report this Post to the Staff
matthewvincent Pillar of the Community United States 3486 Posts	Posted 07/31/2012 09:35 am sixthcents, that requirement is for coins denominated 10 cents and above. Cents and nickels are exempt. Report this Post to the Staff
OneBowl Pillar of the Community United States 759 Posts	Posted 07/31/2012 09:51 am Single Franklins are tough to score on ebay for much less than you paid, although it happens periodically. If I ever look, I always use the Free Shipping filter, although I'm not sure if that always applies to Canada. Melt is currently $10.17. You probably could have done a couple bucks better, but if it's above junk status and a coin you like, all is good. Going forward, if you like Franklins, check local coin shops or ask here and you should do a bit better. Remember, you'll always have something worth the silver value or more and when you think about some of the places you've spent money in your life and now have nothing to show for it, this coin purchase will probably rank pretty high! Report this Post to the Staff
Sixthcents Valued Member Canada 135 Posts	Posted 07/31/2012 10:43 am I was just thinking of how much silver I could have bought over the years. I guess that's the appeal of this hobby, I might actually build a little wealth rather then constantly disposing of it. I do have a new little coin shop in town, I am planning on stopping in some time. It's the only one that I am aware of. I actually purchased a 1953 Canadian Quarter a few hours ago. It was $5.95 including shipping. Once I deduct the price of a stamp for shipping, I'm pretty close to the melt value of $4.24. Coins seem like a decent way to purchase small amounts of silver, compared to the silver bullion in that price range, which is priced insanely high. If silver goes down, at least I still have an old coin and vice versa, like OneBowl mentioned. I guess I did OK, I was able to wrangle a little less than 3/4 oz of silver for around ~$22, without leaving the house. I have to consider travel a factor as I am around 10KM out of town. I will be on the lookout now for local silver too. Edited by Sixthcents 07/31/2012 10:44 am Report this Post to the Staff
silvercoinrn Pillar of the Community United States 863 Posts	Posted 07/31/2012 5:08 pm try roll hunting. Also post an ad on CL for buying silver coins at Spot price. You might get a few hits and be able to buy some silver while the price is still at a relative low. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 07/31/2012 5:28 pm Quote: Wish I'd stocked up when junk silver was around $10 face just a couple of years ago. LOL. When I was a kid, a silver dollar was a buck. Wish that I had saved up a big jar filled with them back then. It's just as well I didn't, though. I am sure that my older sis and younger bro would have raided the stash, spent it on ice cream and candy, and then not shared any of it with me. But, as they say, better late to the party than never. Report this Post to the Staff
Sixthcents Valued Member Canada 135 Posts	Posted 07/31/2012 11:04 pm I was thinking roll hunting for some silver this winter, after I do the big penny push up here. I recall people looking for silver back in the eighties, so it will be interesting to see what slips through the cracks. I figure once they start destroying the pennies the mintage numbers should be reduced enough to make some of them appreciate. The bulk of it is '96 and older copper. Maybe I will ask for a few rolls the next time I go in. I have no idea which denominations to get up here, or whats available besides 1/4s and 1/10ths. Although I suppose that's OK as I would get to search higher numbers. I'm just assuming that because the modern nickle silver dollar is about a 1/4" smaller, that the real suckers would not end up in a modern bank roll. The modern one does have a few silver versions though. I think the half dollars are pretty close in size, I might have some luck with them. I never see them in circulation so that may improve the odds a bit. Report this Post to the Staff
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