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 Replies: 30 / Views: 4,195 |
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Pillar of the Community
 United States
5828 Posts |
Quote:
You ought to ask if you could sift through it. I would, but my grandparents live 500+ miles away in northern Minnesota. |
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Pillar of the Community
 United States
4963 Posts |
Well, maybe next time you see them. I guess the coins will probably be yours eventually, though.
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Pillar of the Community
United States
4469 Posts |
Quote:
I take it you had to pay more than face for the silver dollars? I had incorrectly noted early 70's, but it had to be 68 or 69 as my first time in a casino was in 68. The casinos were required to use the silver dollar for their dollar slots until 65. The state of Nevada in 65 allowed the casinos to make tokens for their dollar slot machines, but in 68 or 69 there were still some casinos using silver dollars for the dollar slots. The silver dollars were purchased at face value for slot use. It ended because people were taking the silver dollars and the casinos could not keep enough stock or silver dollars for their slots. |
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Pillar of the Community
United States
4963 Posts |
Makes sense. Do you have to turn them in, or can you just leave with the silver?
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Pillar of the Community
United States
4469 Posts |
Anyone could just leave with the silver dollars at the time I collected about $20 of the dollars over a couple of trips.
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Pillar of the Community
United States
711 Posts |
Quote:
Who hoarded silver in the late 1960's? Smart people. |
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Pillar of the Community
United States
1795 Posts |
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Pillar of the Community
United States
4333 Posts |
As a child of the '60's, I recall no one that hoarded silver.
In the early '70's I recall one friend who's mother had a jar full of mercs. I asked my parents recently, my father 80 y.o., and they knew of no one that put aside silver in the 1960's (that they could remember).
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Bedrock of the Community
Australia
21788 Posts |
I hoarded junk silver coins before the Hunt Brothers tried to corner the silver market.
I was lucky.
I only accumulated about a kilo of silver coins, but I managed to sell them all in bulk before the crash came.
I bought some ancient silver coins with the proceeds of the sale.
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Pillar of the Community
United States
1801 Posts |
I was pulling silver coins from circulation as a kid back in the 1963-1969 time period. Prior to 1964 I only kept Mercury dimes and Walker halves (and the occasional barber that showed up in rolls), once the change to clad in 1965 my father told me to start grabbing all the 90% I could find. He would buy what I couldn't afford (not much money as a kid mowing lawns for a job)and when he passed in 1992 he still had about $400 face value in his home safe. We both sold most of our "junk silver" (love that term) during the Hunt Brother run up, but I saved all my Mercs, Walkers and unc rolls of Roosevelts, Franklins and 1964 Kennedy coins. During Christmas as a kid we could get Morgan and Peace dollars at the local Bank of America, they would order in bags because people gave out Silver Dollars as Christmas Gifts. Usually they were circulated but I remember one year getting a couple beautiful uncirculated New Orleans dollars in my stocking on Christmas morning. Just a side note, when Kennedy halves came out in 1964, everyone went into a frenzy to get some, I remember the bank clerks that knew me wondering why I wanted the "old style" and not the new Kennedy style halve when I would go in. Edited by jfransch
11/15/2015 6:25 pm
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Pillar of the Community
United States
7622 Posts |
As soon as they went to the clad stuff in 1965 the race to remove silver from circulation began. What you could remove from circulation was originally only limited by how much money you had.
In the early days, you could still get bags of silver at "face" from many banks. That went away quickly. The next big thing was sorting out coins from rolls (where CRH's started!). Some days you'd scrore big, some days you'd strike out.
A lot of people would sort it out and take it straight to the shops and sell for more than face value. It was a good part time job to earn a little extra income. Some people that did this knew very little about coins but knew they could make extra money by separating out the silver. You have to remember that the minimum wage was still like $1.25 an hour and sorting through $100 or $500 in coins coins tied up a lot of money! If you were like me you could not keep everything that you could find. Yeah, it was tough to have to flip those silver coins at two or three times face value but you still had to eat and pay bills.
What little silver being found in rolls now is just stuff being found in grandma's dresser drawers (or stolen) and carelessly spent.
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Pillar of the Community
United States
4963 Posts |
Good stories, both of you.
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Pillar of the Community
United States
2130 Posts |
I have enjoyed these stories.
I just hope that in 25-30 years from now I will have a few stories of my own about selling my silver in the big run up to $50-$100 per ounce.
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Pillar of the Community
Australia
560 Posts |
Before my time, and my family was too poor to save anything.
*** Edited by Staff to remove YELLING. All capital letters is the internet version of yelling. Please don't do it in titles or posts. ***
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Pillar of the Community
United States
4963 Posts |
Also, your caps lock is on.
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Replies: 30 / Views: 4,195 |
First Page
Posted 11/12/2015 8:08 pm
Well I must be one of the smart ones cause I actually started in the late 60's and went hog wild in the 70's and till this day I still look for silver when I find it(rare to find but you do occasionally). 95% of the silver I have I acquired at face value. The other 10% I got was when silver was about $20-25 an ounce before it hit almost $50. The only silver I buy now is those that I buy for my commemorative registry set and believe me its not cheap but that goes with the territory.
