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 Replies: 28 / Views: 3,477 |
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Pillar of the Community
United States
3843 Posts |
The below coins were in the junk silver bin at a local coin shop for 11.5X face. I decided to purchase them since I enjoy old worn classic coins and thought that these were a bit too nice to be sold for melt. Not a score or anything but possibly worth a bit more than the modest sum I paid.   What would you have done if the were in a junk silver bin in front of you? Your thoughts? Edited by Joe2007
07/17/2018 7:11 pm
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Pillar of the Community
United States
744 Posts |
They are all over 100 years old. I would keep them... be a nice gift to a grandson/granddaughter some day to start their collection.
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Rest in Peace
10197 Posts |
Of COURSE! They just may fit well here: http://goccf.com/t/319329 Got these to fit in with the cull 7070 and the holed coin 7070!   Edited by Crazyb0
07/17/2018 7:40 pm
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Pillar of the Community
United States
509 Posts |
I would keep them no second thought.
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Bedrock of the Community
Australia
21786 Posts |
I would buy 90% U.S. silver at 85-90% of bullion value out of dealers' junk bins in this condition (G 04).
The reason for considering BV and not FV, is due to the fact that the U.S. silver coins would be in a silver junk bin that would include all World coins. This happens at a couple of coin shows that I attend annually.
Needless to say, I wouldn't be buying much, because most junk silver dealers would want more money than I am prepared to pay, but
I do occasionally find (mostly 90% dimes), with such a buying strategy.
More often for me, most junk silver that I accumulate comes via job lots, where the junk silver coins may be included in the lot. Same silver buying strategy applies for those coins within the lot, when deciding on a buying price for the whole lot.
Helps if you can keep some reasonably good idea of the more commonly found World silver coins, and their ASW's, and have a calculator built into your brain. I find the mental math exercise an enjoyable challenge, when working out my buying price.
For the Quarter and the two dimes pictured in the OP pictures, ASW around 1/3 ounce. I would have paid about $4.50. (AUD $6.)
BTW, that works out to around 10X face.
Being able to consider to buy U.S. junk silver at a multiple of FV, is generally not a mental luxury for me; they are usually mixed up with World junk silver.
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Valued Member
United States
393 Posts |
 That's a nice grab.  Can someone educate me please what you meant by "11.5xface". So, I will know the monetary equivalent of the stake grabbed.   thanks |
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Pillar of the Community
United States
2608 Posts |
I would feel bad for them too, especially the Barber quarter. It appears to be a problem-free AG-3, so for a few dollars I would be happy to add it to the collection. Nice finds!  |
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Rest in Peace
United States
18456 Posts |
OP paid $11.50 for $1 face value . |
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Pillar of the Community
United States
4085 Posts |
I would have jumped on those at that price. Nice buy!
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Rest in Peace
United States
18456 Posts |
Too many coins in my collection as it is . No need to spend money on AG-3's or lower , unless I spotted a rare date/mint that the dealer didn't see .  |
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Pillar of the Community
United States
1303 Posts |
No brainer, nice pick up for certain.
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Bedrock of the Community
 United States
12477 Posts |
Quote:
Can someone educate me please what you meant by "11.5xface". Junk 90% silver coins are usually sold as a multiple of the face value of the coin. The OP shows one quarter and two dimes, so $0.45 face value. $0.45 x 11.5 = $5.18 So, the OP paid about $5.18 for the three coins. I would consider it for those coins, not a bad grab to me. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Valued Member
United States
393 Posts |
Thanks T-BOP & spruet001. I am adapting to the coin language. It's good to know what you are paying for. Joe2007 hang on tight with those junk silver for a profitable future. I am familiarizing myself with the grading acronyms but you referred to the buyer as "OP". What does "OP" mean? Thanks. |
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Pillar of the Community
United States
927 Posts |
Several years ago I would probably have snapped these up from the junk box. I would probably pass on them now. Although the Seated dimes are tempting at that price... It is still possible to find these in a slightly better grade for melt value or slightly above. Sometimes you have to be at the right place at the right time. |
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Pillar of the Community
United States
772 Posts |
I would have definitely grabbed them at that price!
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Rest in Peace
United States
18456 Posts |
Quote:
I am familiarizing myself with the grading acronyms but you referred to the buyer as "OP". What does "OP" mean? Thanks. OP ,means Original Poster of the thread . It's not the buyer of anything . In this case it's joe2007 |
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Replies: 28 / Views: 3,477 |
Posted 07/17/2018 7:03 pm
