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 Replies: 26 / Views: 5,393 |
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Pillar of the Community
United States
3843 Posts |
I am cooped up inside during this pandemic so I don't have any insights but with all the local coin shops closed and not buying from the general public I wonder if junk silver is harder to acquire these days?
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Pillar of the Community
United States
3486 Posts |
Finding "junk" silver these days may be more difficult as people are hanging tightly onto their stacks. Dealers cannot buy from the public. Therefore lack of physical silver.
I too am interested in other's opinions about this topic.
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Pillar of the Community
United States
7293 Posts |
You can order it online but with most stores closed, yep its hard to find. My local shop will put the amount you want in a bag and sell it to you at the door for cash only, but he is selling it much higher than spot.
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Pillar of the Community
United States
4333 Posts |
Premiums right now on junk silver are running about 40% on average over spot (quantities of $100 face or higher) online at some big box stores. Problem is, extreme shortages on inventory and long lead times for delivery. LCS here is closed.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
04/26/2020 02:07 am
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Valued Member
United States
443 Posts |
I haven't found any problem getting junk Silver. I just recently ordered and received $200 face value in junk silver. It did take a couple extra days for the order to be filled and shipped due to the virus shutdown, but from order to receiving them was about 10 days. I ordered from JM Bullion, online. I ordered the 90% Benjamin Franklin half dollars. Paid a premium for sure, $3200. Did find some Liberty and Kennedy halves mixed in the lot, was one 1966 Kennedy that was only 40% so that was a bummer, still sorting thru them though.   Question, with the way things turned out in the markets, was I a winner or loser? I gambled, but think I lost on this deal.  |
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Pillar of the Community
United States
4333 Posts |
@Snoopydoo - sure, there's going to be silver available for a 50% premium like your buy.
Just sock that silver away for 30 years.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
443 Posts |
Thanks Fistfulladirt, I'll be long gone in 30 years, but my wife will enjoy the profit LOL.
Question, what's dirt fishing?
Love Zeppelin too!
Edited by Snoopydoo
05/02/2020 09:34 am
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Pillar of the Community
United States
4333 Posts |
Quote:
Question, what's dirt fishing? Metal detecting! If you like coins, especially old silver, metal detecting older parks and old yards are one way to get 'em. I've dug hundreds over the last decade. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
443 Posts |
Sooooo..... It seems I way overpaid for the above pictured junk silver. It sounds like I need to put it away for 30 years (in which I'll be dead)  And by every definition I've found, junk silver coins have no numismatic coin value, only value is silver content. So that removes it from the list of things Not to do to your "Coins". Ok, who sees where I'm going with this? So what do you do, when you have a bunch of "Junk Silver Coins" that are dirty, and ugly, and your confined to your house for weeks on end? You have an idea  , and you guessed it, and I did it...... You clean your valueless (numismatic speaking) junk coins!   So what do you think? And no I wouldn't clean my collectible coins. But the experts say these aren't collectible coins. I think they look awesome! You can't say they don't look better than the pictures in my earlier post. And....there Covid19 Free now!  Ok, let me have it  .  Edited by Snoopydoo
05/19/2020 9:17 pm
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Pillar of the Community
United States
2521 Posts |
For every 400 junk silver coins you clean......somebody else's junk silver coins will potentially become a little more desirable and a little more valuable (Preferably mine). Edited by ratman4762
05/20/2020 09:57 am
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Valued Member
United States
443 Posts |
I'm glad I could help Ratman4762!  Further thought..... Circulated coins have been in ashtrays, gutters, filthy hands, dropped, and the list goes on. Cleaning a junk silver coin in soapy water, with soft cloth, sponge, and a few with Silver cream couldn't be anymore harsh then the life they already experienced as described above. It just simply took off all the environmental sludge that they left the mint without. Oh but cleaning can cause micro abrasions seen under a microscope. When would a junk silver coin ever be examined under a microscope? It's junk silver, no numismatic collector value, it will never be graded. Most collectors are not into graded coins. They just appreciate the beauty and uniqueness and history in whatever they collect. Most don't understand the difference between a graded 67 or 68 coin, they just think that's a beautiful coin. To most of us they (a 67 or 68) look exactly the same. Now don't get me wrong, I agree with not touching, much less cleaning an uncirculated or rare coin. With that  But junk silver does not fall into that category. The conspiracists in me believes most regular collectors would rather have a clean coin that allows the beauty of it to be seen, not covered by sludge. But the dealers have to convince people that they want the dirty coin. Because if the hobbyists started wanting pretty coins over dirty coins, then they would have to start working on cleaning their inventory. Now just think how beautifully these cleaned coins can naturally tone over the next 30 years without the sludge and non intended material that was on the coins surface. And if these junk silver coins Are held for their melt value, I don't see how having extra environmental contaminants on their surface increases their value before their melted Just stirring the pot  here a little . So this is a win win here....to the diehard purists I supposedly increased the value of their inventory, to a regular guy like me, I can enjoy there silver beauty without the sludge, and have the natural toning evolution to watch for years to come This was just a project, instigated by being house bound for weeks, running out of things to do, and it gave us something to talk about. Intended for fun, not an attack on the expert collectors here. I highly respect and appreciate you all!  |
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Pillar of the Community
United States
2521 Posts |
Cleaning is like melting (the damage can't be undone). Consider this, there are 10 or so date/mm Franklins that had a mintage of 5 million or less. How many of those have been melted or cleaned or damaged? Nobody will ever truly know but the effects will be known when these dates become hard to find in unmolested condition. Most coins sold as junk silver are perfectly good coins in collectible condition to somebody (even if it's a newbie collector). I have found key & semi key dates in lots I bought as junk silver. I'm sure there are varieties I don't know about mixed in those lots too. IMHO, cleaning the coins in my junk silver is doing a disservice to future collectors.  Edited by ratman4762
05/20/2020 11:55 am
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Valued Member
United States
443 Posts |
Good points ratman4762.
I was under the impression junk silver had already been sorted and picked thru, thus deemed junk, especially by a big firm like where I got these.
If they haven't been and there's any good ones in there, then your correct, my bad. I trusted that when they said junk, it was junk.
I never even looked thru them.
I will, and let you know what's in there.
Maybe a costly lesson for me.
I still think they look nice, and you can't see any abrasions like I've seen on harshly cleaned coins.
Thanks for the information.
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Pillar of the Community
United States
1479 Posts |
When spot was around $14.50 - 15.00 I purchased $300.00 face from them. Apparently when the G-VF rolls ran out they filled 1/3 of my order with 8 rolls 1964 D BU blast white Kennedy's of which 6 coins were the FS-501 rpm and 3 minor rpms. The quarters produced 5 reverse proof die A or C don't remember also an inverted mint mark on a Roosevelt dime and 3 DDO War Nickels. I sold all of them on ebay and even after all fees made enough to buy a roll of Canadian 1963-67 AU silver dollars. It gets better- they were not AU they were mostly proof like BU 5 were commerative 2 were small bead variety. Check those coins for varieties, bet you have a small handful. I have never gotten any sweet rolls from Apex matter of fact usually will have 1-2 culls per roll. They replace them no problem but for me JMBullion may be smaller but I think they are better. Your stack is a hedge against hyper-inflation you may have paid a steep premium but its insurance and silver will go up and down if it goes to $48.00 bucks sell half and the other half would technically become free. If it goes down lock it up and forget about it. No your not foolish you just started stacking at a less opportunistic time silver would have to hit $26.75 oz. for break even point. In case anyone hasn't noticed were trillions in the red, unemployment is at 20 + percent, civil and political agitation and unrest with a major election 140 days away, you made a prudent move IMO. The global economy is in trouble and printing money will cease at some point...people will suddenly realize fiat money has diminished value or worse a default. I am on the dole retired Army and civil service so am last to want country to go broke however many many of this generation saves nothing, stores no food/staples, and believes the government has constitutional absolute and must feed, clothe, house, care for, school, and mandate all aspects of lives. This is fantasy, ask anyone whom lived in the former Yugoslavia 1992-1997 how quickly it all fell down or speak to a citizen of former USSR who lost all pensions, positions, when they split. All have told me only 3 things materd in getting by: the Deutsche Mark, silver/gold, and Dollars. Hang on to that silver, I hope you/me never have to use it and things get back to normal. |
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Pillar of the Community
United States
4333 Posts |
We don't know what value silver coin will have in this plastic society. PM's are a weird part of an investment portfolio. They're metal. The rest is not even paper!
Clean away, you aren't hurting anything.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
5464 Posts |
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Replies: 26 / Views: 5,393 |
Posted 04/25/2020 3:31 pm
