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Silver Bullion For Bags Of Junk Silver Coins

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sgod's Avatar
United States
7 Posts
 Posted 07/26/2011  7:25 pm Show Profile   Bookmark this topic Add sgod to your friends list Get a Link to this Message Number of Subscribers
Bought some silver some years ago and have recently been introduced to the joys and potential profitability of numismatics... what do you think about trading silver bullion for junk (or maybe not so junky) silver coins?

Best
sgd
New Member
sgod's Avatar
United States
7 Posts
 Posted 07/26/2011  10:00 pm  Show Profile   Bookmark this reply Add sgod to your friends list Get a Link to this Reply
Hey sorry I am new... can a mod move this post to the old coins forum?

Thnx
sg
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macmercury's Avatar
United States
5830 Posts
 Posted 07/26/2011  10:04 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
My advice would be to read a few of the numismatic books, and most would advice collector/investor to go for the key/semi key coins. Get involve with a series and experience what you really enjoy about the coin.

Of course, unless you're a accumulator, that would be a different story.
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sgod's Avatar
United States
7 Posts
 Posted 07/26/2011  11:15 pm  Show Profile   Bookmark this reply Add sgod to your friends list Get a Link to this Reply
I was wondering more about the likelihood of worthwhile finds in junk lots that are traded regularly... I would guess most such sites have been thoroughly perused... then again, there may be a great deal of randomness in finding the occasional lot that actually is unsearched, with high quality, key date coins unpulled.

Any tips from experience?

I am in a pretty secluded area (not a major metro) so hitting estate sales is likely not an effective method.

Cheers,
sgd
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nod2003's Avatar
United States
3294 Posts
 Posted 07/26/2011  11:37 pm  Show Profile   Bookmark this reply Add nod2003 to your friends list Get a Link to this Reply
Good coins can be found in junk silver lots if you know what you are looking for.
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sgod's Avatar
United States
7 Posts
 Posted 07/26/2011  11:54 pm  Show Profile   Bookmark this reply Add sgod to your friends list Get a Link to this Reply
Sometimes I see juicy lots of foreign coins (with silver) going by under spot... but I am guessing that US coins have a much greater market than foreigns (at least among English speakers, such as most US citizens)... any experience regarding market openings (that is, bargain lot situations) between non-US and US coins?
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trdhrdr007's Avatar
United States
2335 Posts
 Posted 07/27/2011  08:35 am  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply
In general, foreign silver sells in my area for under spot & is harder to sell. If you know that up front & buy right you can still do OK.
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macmercury's Avatar
United States
5830 Posts
 Posted 07/27/2011  09:37 am  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
The one's on ebay is 99% searched.

Although I admit I'd found a few nice pieces awhile back, it is time you need to spend searching through multiple lots. And how you need to resale it process.

nod2003 says it right, you will need to know what you're looking for!

Perhaps try local dealership or place an ad in Craig list? I notice few CCF members have luck of getting bargains.
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junior e's Avatar
United States
931 Posts
 Posted 07/27/2011  10:37 am  Show Profile   Bookmark this reply Add junior e to your friends list Get a Link to this Reply
I think if you place an ad, as macmercury said, you stand the best chance of picking up old unsearched stashes of silver coins and worthwhile searchable penny stashes. Just be ready with a lot of cash if you are going to be treating the people fairly, which you most certainly should. A half of a Ball jar of silver could cost you a lot of money at melt, and there are a lot of jars out there. You will draw out the good stashes by offering more than the gypsy coin buyers are paying, meaning current and up to date full spot melt price. I believe currently it would be around $29.30 per dollar face value. Please correct me if I'm wrong about current spot values as I am not experienced in buying silver hoards.
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