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 Replies: 32 / Views: 4,386 |
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Pillar of the Community
United Arab Emirates
557 Posts |
I'm wondering if I should have a cap when purchasing junk 90% silver dimes, quarters, halves and dollars? This would incorporate shipping into the cost as well?
Any advise on a good price point would be appreciated.
Thank you.
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Pillar of the Community
1283 Posts |
First, I don't think anyone knows what you are really asking? If you mean what price do we think is a good pricing point, who knows. I was buying silver at $45 per ounces and at $26 per ounce. I buy every single week though lately it has been numismatic slabbed Morgan dollars and not a ton of bulk weight. Don't get caught up in pennies just keeping buying. In twenty years when you are getting 40-50X face are you really gonna care you paid a 23 Ave and not a 24? |
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Pillar of the Community
United States
1211 Posts |
I would say, try to get 90% junk silver below spot. I would certainly never pay over spot for "junk". Too easy to find.
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Pillar of the Community
United States
2661 Posts |
Quote:
I would say, try to get 90% junk silver below spot. I would certainly never pay over spot for "junk". Too easy to find.  to a certain extent. I have a very hard time finding mint marked Merc's so I am more than willing to pay a few cents over to get D & S Merc's. Other than that I try to buy at a few percentage points below, if I can't do that then I will pay spot. Silver Dollars do command a premium over spot in my general area due to those who have no clue and have jumped on the silver bandwagon and drive the prices through the roof. This makes to hard to find Morgan's & Peace for under $30. |
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Pillar of the Community
United States
919 Posts |
I agree with Tim. It is hard to get Morgan and Peace dollars under $30 (in VF-EF grade). You can find well worn coins cheaper, but I only buy EF or better coinage. I pay a premium when I can get EF/AU Walkers. When I buy Franklins or Kennedys I only buy AU or better at spot. I have even bought proof and mint sets from late 50's early 60's as a way to get 90% silver. I have a LCS that moves a lot of 90% silver. Hope that helps. |
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Pillar of the Community
United States
900 Posts |
I see a lot of people here claiming to buy "junk silver" for less than spot. I am able to accomplish that in 1 out of every 100 purchases. There are simply too many dollars chasing too few goods at the moment. I have resolved myself to the fact that I will have to pay a premium for silver until supply and demand equalize.
I would like to see some proof that average consumers are buying silver below spot.
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Pillar of the Community
United States
919 Posts |
I'm with you scurry. I have never paid under spot. I'm guessing those that buy under spot are searching ebay daily. I don't have time for that. I would rather pay a little more and keep my LCS open. |
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Pillar of the Community
United States
1211 Posts |
You guys all bring up a good point and the term "junk" is being thrown around here. I guess I was excluding Silver Dollars from the term "junk" because most people find them highly collectible. I always pay a "minumum" price for them, typically $25-30 depending on where silver is at the moment.
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Pillar of the Community
Canada
1723 Posts |
My junk silver...dimes and quarters. Halves and dollars are considered more collectible. Either way, I set a cap at 2xface under spot with shipping included. Don't win a heck of a lot of auctions and get turned down all the time when I put out offers but I do get a handful of good sized lots and it always add up. I enjoy the hunt for the best deal always. As TBK says, when they're worth 40X face will we care? No, but I'm playing the game of today and the next few months so when trying to buy and sell.. that extra 2xface is the difference between making a profit or not. To each his own. CHEERS! Oh and my prices are for Canadian 80% that I buy. I dont buy American junk..lol
Edited by samsnate
12/26/2012 3:08 pm
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Pillar of the Community
United States
1195 Posts |
I'm usually not inclined to buy the later quarters and halves for my latest started collection for more than 22 times face
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Pillar of the Community
United States
2661 Posts |
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Pillar of the Community
United States
2661 Posts |
I found the above listed in only a matter of minutes. It is not that hard to buy under spot. I also purchased a lot of 39 Merc's for $7 under spot a couple of weeks ago from a local man. He wanted $85 for them so that is what I paid him.
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Pillar of the Community
United States
900 Posts |
Quote:
I guess I was excluding Silver Dollars from the term "junk" because most people find them highly collectible. I always pay a "minumum" price for them, typically $25-30 depending on where silver is at the moment. Even "worse than cull" dollars don't go for $25 each, not even if you buy > 500 pieces. http://www.apmex.com/Category/1640/...ars_Raw.aspxAlmost Good dollars go for more than $30 each, now matter how many one buys. I just think there is a lot of exaggerating, which leads many of us to wonder how we are missing out on such "great deals". The truth of the matter is that unless you are one of the unscrupulous gold and silver buyers operating out of hotel conference rooms taking advantage of old, unsuspecting people, you're not getting any better deals than the rest of us. I am not accusing anyone here of doing anything immoral. I am just trying to point out that there may be some tall tales being told. Edited by scurry64
12/26/2012 3:47 pm
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Pillar of the Community
United States
919 Posts |
Maybe I'm seeing it wrong but those ebay listings had $1.75- $3 shipping each. That would put them well over spot. |
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Pillar of the Community
Canada
1723 Posts |
If you follow the newly listed adds, you will be surprised how many people will sell their lots to you under spot if you just make them an offer.  |
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Pillar of the Community
United States
900 Posts |
$34.89 for 8 dimes is hardly below spot. |
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Replies: 32 / Views: 4,386 |
Posted 12/26/2012 1:57 pm
