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 Replies: 33 / Views: 4,853 |
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Pillar of the Community
United States
950 Posts |
I was at a small coin show recently and one of the dealers had a large box of quarters that I guess would be considered "junk."
They were mostly common Washingtons but there were a few SLQ and Barbers.
I picked out $2 face that included 3 barbers, 4 SLQ and a nicely toned and very good condition 1964.
I picked the older ones because I figured that the chances that they may eventually be worth more than their silver value was better than with the Washingtons.
Then I got thinking.. Yeah, they are older. but because they are more worn out they actually contain less silver.
Since you pay per piece rather than by weight I suppose it doesn't matter.. but what would you buy?
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Pillar of the Community
1751 Posts |
I only buy junk I know is worth more than junk prices. :)
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Valued Member
United States
261 Posts |
one year ago I payed 22-25 times face, 4 months ago I was happy paying 20x face for .50 and smaller denominations. Once the dealers figured silver was going to stay low I was able to get them to 16x face and bought like crazy.
Recently I got bored buying beat circulated silver and switched to good condition comm dollars for 18-20x face.. I think ill do better with them selling in the future.
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Valued Member
United States
261 Posts |
What did you pay at the show?
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Pillar of the Community
United States
602 Posts |
I'm curious on the dates of the coins you got. What are they? Photos?
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Valued Member
United States
256 Posts |
I usually go with the theory that you'll be happiest if you buy what you like. For example, I pick Mercuries over Roosies and usually pay a little bit more.
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Pillar of the Community
United States
1053 Posts |
Good point. Buy what you like.
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Pillar of the Community
United States
1130 Posts |
Yeah, I would have bought the same things you did. You have a point with the wear, but I still go that way. You picked the toned 1964 and that is exactly what I would have done. However, if you don't mind me asking, I would also like to know what you paid.
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Pillar of the Community
 United States
950 Posts |
This was early july, but it was 17X face. He was charging 17.5X for half dollars.
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Valued Member
United States
459 Posts |
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Pillar of the Community
United States
950 Posts |
I will take pictures tonight!
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Valued Member
United States
293 Posts |
One good rule of thumb to remember is that if you can pick BU 90% out of a junk box and pay melt for it --- usually you can pop that for one point (one point = 1X the coin's face value) over melt.
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Valued Member
United States
395 Posts |
+1 for not buying true "junk". If I want silver just for silver melt, Ill buy a novelty coin such as the Zombucks from provident. At least then you have something to look at. Beyond that, it has to have collectible value not just melt value. (For my preferences anyway)
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Valued Member
United States
189 Posts |
Buy what you enjoy collecting!
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Pillar of the Community
United Kingdom
2133 Posts |
I can't see the point in buying a zombuck if you want to hold silver, because you're paying a 13.8% premium above melt.
It is a nice design but it's a medallion not a coin.
It's still possible to buy below melt and you can still get attractive designs (OK, so they're worn) eg, US, Canadian, European silver.
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Valued Member
United States
477 Posts |
I stared with stacking junk but after a while I started gravitating toward collectables. I rarely buy junk anymore, mostly BU Morgans and modern slabbed silver proofs. But at the last coin show I took my change from purchases in junk dimes.
Like they said, collect what you like. Junk has it's place, pretty and rare coins have theirs. I like to visit both.
Rick
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Replies: 33 / Views: 4,853 |
Posted 08/13/2013 6:37 pm
