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 Replies: 15 / Views: 2,172 |
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Valued Member
United States
155 Posts |
Do all or most B&M Con shops have some kind of silver bin? I have never seen one in my local shop. Is this something that I must ask to look through? Or am I better served asking the dealer if she has any cons for sale at spot? Thanks for any input, just trying not to look like an idiot in public  |
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Valued Member
United States
458 Posts |
My local shops have them in buckets behind the counter. Just ask one of the employees if they have a junk/scrap silver bin.
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Valued Member
 United States
155 Posts |
Now here is my next question. Is it worth it to take the time to look through the scrap bucket?
I know some guys on here have found treasures. But do people usually purchase from it for the silver
or to fill holes in a collection at a better price for a lower grade coin?
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Pillar of the Community
United States
2541 Posts |
I've noticed that a lot of shops I've been into have been turning and burning their silver - getting it out in $1000 bags quickly. I came away empty handed a couple of times when I was looking to pickup $50 in junk silver.
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Bedrock of the Community
United States
17884 Posts |
As gothic says most of them will ship it out as quickly as possible, especially the smaller shops. A single bag of silver represents over $20k of capital tied up that can't be used for other things.
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Pillar of the Community
United States
1150 Posts |
Very true. I watched my dealer buy 70 pounds of silver. I told him I would buy it all from him in a day or two (jockingly), and he said it would be gone by that afternoon. He already had a buyer on the phone as soon as the people he bought it from left out the door. Sadly, I feel he ripped those people off, too. He paid 18 an ounce when silver was 29 an ounce. I mean, I understand making a profit, but come on. Paying 18 an ounce, when silver is 29, for 70 pounds of silver?! That is a large profit for an hours worth of counting and separating silver dollars and halves.
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Pillar of the Community
United States
2049 Posts |
Most shops do have a silver bin behind the counter. I have been lucky enough to find Engelhard Prospectors, Mexico Libertads, and other unusual silver one ounce bars/rounds. The variety changes every day but it's worth looking through. I have even found Silver Eagles put in there if they aren't quite 100% pretty. :P
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Pillar of the Community
United States
3184 Posts |
My old B&M had a tupperware with junk 90% in it and would let me go through it and pick out all the bu dimes, Washington quarters, franklins, and kennedies and pay the same price as normal 90%. I figure why not get the best condition stuff vs worn stuff for the same price. |
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Pillar of the Community
United States
511 Posts |
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Pillar of the Community
United States
3294 Posts |
I got a 1896S and an 1871 half in the bin on Sat, as well as a 1901S dime. Not exactly high grades, but definitely a great buy at melt price in my book.
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Bedrock of the Community
United States
20753 Posts |
I've been to several coin stores in my area and none have a junk, surplus, bargain box or anything kind of bin, box, etc. At coin shows only one dealer USED to have a junk or bargain box but gave it up since it just took up room and no big profit. I suspect the same reason for none at most coin stores is the same. Just not enough profit.
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Valued Member
United States
155 Posts |
Of the two shops that sell coins in my area neither have a shippable silver bin. One has bulk bags of silver coins at prices too rich for my blood. But each bag has A great assortment of coins but undoubtedly all are only worth melt value. The other place sells all junk silver on ebay in bulk lots again, too rich for my blood as I am not looking for bullion I'm looking for hole fillers at better prices |
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Rest in Peace
United States
9104 Posts |
Back when silver was $5.50 per dollar, a flea market dealer had a box of dimes he was selling for $.60 per. I asked what he'd take for all of them, and he said he was trying to promote collecting.
I checked back at the end of the show. He sold five to collectors and the box had 20 fewer than when we first talked. I was paying $.50, so he made $.50 on sales and lost $7.50 (plus whatever else while he watched the dimes) to shoplifting.
Way to promote collecting; on the stupidity scale, right up there with releasing 14d cents to promote a coin show.
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Valued Member
United States
188 Posts |
One of the store I visit almost always hase some silver bins. Seperated for Rounds, Eagles, Dollars, and 90%. The other one only deals in bulk and you must pre order.
I enjoy rooting around the 90% just to fill holes, sometimes there are even Barbers. I have found the occasional coin worth a few bucks more than melt, but nothing that was "OMG I rich!" LOL
Now if I could just find that elusive BU 1916D......
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New Member
United States
37 Posts |
My store has jugs that coffee comes in. "Name your flavor" so to speak...walkers, Franklin's, 90% and 40% Kennedy, Washington quarters, mercs, Roosevelt's and war nickles. They're pretty cool there and will just hand the jug and let you pick and choose whatever you want while standing at the counter. So to answer your question, if you don't see it, ask. It's the only way you'll find out. Regards, DFPS Edited by Dirty Finger Penny Sorter
02/25/2011 11:14 pm
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Pillar of the Community
Philippines
1156 Posts |
over here, dealers simply have regular non-silver coin bins of world coins, I have found expensive silver coins and other rare coins at 20c selling price, but usually they were covered with tar or some other coating such that the dealer did not recognize the coin. So be ready to clean the coin.
So that's what I look for in coin bins, unrecognizable black coins that can only be read with (time spent) scrutiny, which the dealer doesn't have the time to do
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Replies: 15 / Views: 2,172 |
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Posted 02/08/2011 10:30 am
