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New To Hunting Silver Coins, Few Question

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Author Previous TopicReplies: 10 / Views: 1,757Next Topic  
New Member

United States
14 Posts
 Posted 11/21/2013  9:55 pm Show Profile   Bookmark this topic Add killagt to your friends list Get a Link to this Message Number of Subscribers
Hi today I just got into silver coins hunting. I have few question,

I exchange 80 dollar into half dollar coint, and found 8 that is 40% silver and 1 is 90% silver. What I do with the rest ? bring it back ?

should I keep those that is not 90% or 40%

where do I sell these coins to and where I know the exactly price

should I clean before selling it ? and how to clean ? I hears dump into lemon juice or lime juice to clean it..
Valued Member
Mraderm946's Avatar
United States
201 Posts
 Posted 11/21/2013  10:59 pm  Show Profile   Bookmark this reply Add Mraderm946 to your friends list Get a Link to this Reply
No cleaning! We need pictures.
New Member
United States
14 Posts
 Posted 11/21/2013  11:15 pm  Show Profile   Bookmark this reply Add killagt to your friends list Get a Link to this Reply
I dip in water, its consider cleaning ?
New Member
United States
14 Posts
 Posted 11/21/2013  11:18 pm  Show Profile   Bookmark this reply Add killagt to your friends list Get a Link to this Reply
btw, what I do with all those half dollar coins that 1970+ bring them back to the bank ? I need get my moneys back :), and where peoples sell their coins at ? I dont plan on keeping, I am plan on selling.
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NathanASE's Avatar
United States
1511 Posts
 Posted 11/21/2013  11:30 pm  Show Profile   Bookmark this reply Add NathanASE to your friends list Get a Link to this Reply
Never never clean coins, dont even rub them in water or a cloth to dry them, any numismatic value over melt value will be destroyed.

Most people have "pick-up" and "dump" banks... If you bring them back to the same bank they may not give you more. Open an account at a "dump" bank and deposit your throwbacks into your account..

As far as selling them goes, value is directly related to grade (condition) so we'd need pics. And there's key dates for every series that even in low grades are worth alot, although don't bank on finding one.. Quite rare. But you can find price guides online as well as silver melt calculators.
Unless there in great condition, like how they left the mint, or it's a key date there likely worth melt... (Melt= amount of silver value in the coin)

After going through coin by coin looking them up you can sell to "we buy gold/silver" shops or coin stores but will only get a fraction of the value.. Piecing them out on ebay would probably be the most profitable but also the most time consuming and you have to factor in fees....

Most of us (a least me) stack silver... We don't sell ever/often... And many people watch the markets and buy in lows (like now) and sell during highs (last winter was $40+ oz) but for me I'm holding for the long term... Hoping for larger gains.... Maybe...

9 silvers from $80 is lucky... It's getting harder and harder to find.. Be prepared to go through multiple $500 boxes without a single silver... Just a heads up.. Lol, you first results are not common...
Edited by NathanASE
11/21/2013 11:34 pm
New Member
United States
14 Posts
 Posted 11/21/2013  11:38 pm  Show Profile   Bookmark this reply Add killagt to your friends list Get a Link to this Reply
thanks, can I tell you guy a story how I get into it ?

today I go to one of those coin exchange for cash at Walmart, I dump in total of $94 dollar worth of coint I save up over a years. anyway a quart 1943 keep return from the machine, I dump in 3 time, all 3 time the machine wont take it. So I take it to work, and make fun of it in front of my brother, my brother look at it, say man these might worth something. we we look online and that how I got it start. I went to every bank closer to me and exchange money for half dollar coint, some bank dont carried it, some only have 1, yes 1. some bank have alot but I dont have moneys for exchange.

so you mean I should open a free account on dump bank, that is different from my bank right ?

If I want make a profit on these coin, which type of coins I can make profit in, 1 cent ? or half quarter... what most peoples get when it come to make profit.
Edited by killagt
11/22/2013 12:05 am
Pillar of the Community
NathanASE's Avatar
United States
1511 Posts
 Posted 11/22/2013  12:07 am  Show Profile   Bookmark this reply Add NathanASE to your friends list Get a Link to this Reply

Quote:
so you mean I should open a free account on dump bank, that is different from my bank right ?


Yup.

Neat story, and ya, coinstars (coin machines) do not accept silver, they spit it out. I check everyone I pass by. It's very fun to hunt for silver, well roll hunt in general. Just too bad it's getting slim and few between finds..

Now you just have to start collecting coins... And not just silver ones you may enjoy it more as a hobby as its a hard way to make money. As I said your first results really arnt too common even from monster boxes... The return usually doesn't even equal the gas to and from the bank, lol. But there is that chance you'll find a full 90% box.. Just rare.

My point is the return off of them usually isn't too much (a few at a time that is) you may be better off saving them till you get a bunch then selling... As well as holding them until if/when silver prices rise. Otherwise gas, ebay fees, mailing supplies, postage to send to buyer etc are going to eat up most if not all your profit..

And check out this topic and some of the finds people have had!! Some are nothing short of amazing!
Edited by NathanASE
11/22/2013 12:09 am
New Member
United States
14 Posts
 Posted 11/22/2013  12:36 am  Show Profile   Bookmark this reply Add killagt to your friends list Get a Link to this Reply
^^, thanks for the tips, now I just start to dig out every penny and coins around my house, going through my gf bag -_- lol. Where I can post some pix and see how much it worth... where can I learn more about these type of coins...
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amida17's Avatar
United States
4897 Posts
 Posted 11/22/2013  12:57 am  Show Profile   Bookmark this reply Add amida17 to your friends list Get a Link to this Reply

to the CCF!



Quote:
where can I learn more about these type of coins...


Right here....Read all you can. Learn what to look for.

Before you worry about


Quote:
how much it worth

New Member
United States
14 Posts
 Posted 11/22/2013  02:19 am  Show Profile   Bookmark this reply Add killagt to your friends list Get a Link to this Reply
where do you guy storage your coint ? just throw in a bag ?

btw how much each time you guy bring in dump coin to the bank ?
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NathanASE's Avatar
United States
1511 Posts
 Posted 11/22/2013  09:30 am  Show Profile   Bookmark this reply Add NathanASE to your friends list Get a Link to this Reply

Quote:
where do you guy storage your coint ? just throw in a bag ?


It really depends... Again most of us collect coins so we put coins away for long term.. Like in 2x2's (small cardboard holders that staple shut), in coin albums, folders... Etc. If your literally just pulling silver to sell as scrap then I assume you won't be trying to complete sets so albums/folders wouldn't be a good idea.. But as I mentioned value is 100% related to the grade (condition) of the coin... So if there in horrid condition I don't think a bag would hurt... Bu if there fairly nice and would sell for more than scrap I'd get some 2x2's or something...


Quote:
btw how much each time you guy bring in dump coin to the bank ?


I pick up a $500 box (or two) at a time... Then take my time going through them.. Not only looking for silver but gem examples for my sets that might need upgrading and errors... But I don't only search halfs. So usually I'm depositing $500+. Again you have to factor in costs... If you get $80 in halfs... Find one 40% worth roughly $2.96 would it be worth it to drive to the bank to drop the rest? To me it wouldn't because I'd spend more than that on gas so it'd be counterproductive.. You know what I mean?

And I absolutely agree with Amida17, before you start worrying about value start learning... If you don't know what you have/ or don't have it's going to be hard selling it. Collecting coins is a very good hobby to get into... Definitely hard to make a profit of of but very fun. And searching for silver is the same way... It's fun to do and kills time but chances are its not going to make you rich.
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