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Buying Silver Question

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Author Previous TopicReplies: 15 / Views: 1,467Next Topic  
Valued Member
googoo's Avatar
United States
466 Posts
 Posted 08/13/2011  10:31 pm Show Profile   Bookmark this topic Add googoo to your friends list Get a Link to this Message Number of Subscribers
So I have a bunch of cash sitting around in my safe that I pulled from circulation. About 4 grands worth of star bills, and bills printed prior to 1995. I have realized saving them is pretty much a waste of time so I was going to purchase some silver as a better investment. Now, I was wondering if there was a good way to buy bulk silver at about silver melt price. If I did this I would want to buy older coins for instance mercs, maybe franklins, walkers, Washington quarters and stuff like that. I would search through the coins and pull any dates I needed for sets and eventually sell back the junk silver to make my money back while adding some coins to my sets. Is this a good idea? Might I find stuff that would look good in circulated kind of sets? Where might the best way to go about getting bulk coins at or right around silver melt? Like I said if I can pay as little of a premium as possible I can maybe get a quick start to some older sets. Thoughts, anyone try it or do it? Any help would help
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macmercury's Avatar
United States
5823 Posts
 Posted 08/14/2011  12:00 am  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
I don't know bills prior to 1995, but star notes depending on conditions should have some premium.

It would be better to get to know the series you're familiar with before you pursue it, that way you will know to check for quality, varieties and scarcity.

Last, the cost is more likely based on bullion value for bulk silver, speculators/investors are holding it and watching the market.
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Drsandman2's Avatar
United States
1374 Posts
 Posted 08/14/2011  12:04 am  Show Profile   Bookmark this reply Add Drsandman2 to your friends list Get a Link to this Reply
For long and short term investment, I would avoid bills. Silver and gold are very liquid. If buying old coins to check for varieties, be careful because most of them have been searched.
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googoo's Avatar
United States
466 Posts
 Posted 08/14/2011  12:08 am  Show Profile   Bookmark this reply Add googoo to your friends list Get a Link to this Reply
I know about most of the series, it's just I don't like buying coins for my sets I like to find them. Since finding mercs in rolls of dimes isn't very fast I wanted a jump start that in the end might get close to an even wash for me after I pulled what I wanted. I was thinking for more of the older sets I might be able to jump start them a bit with this method while investing my money into something valuable like silver. I have been collecting for a while so I know to look out for certain things and in all honesty don't really care too much about quality of the coins, as long as they are natural and uncleaned. Since I collect from roll searching I get the best examples I can find. Something about slightly worn and lower graded coins just appeals to me. I like the history of the coins so maybe the worn coins make me think they have more history then uncirculated ones
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numismaniac's Avatar
United States
361 Posts
 Posted 08/14/2011  09:16 am  Show Profile   Bookmark this reply Add numismaniac to your friends list Get a Link to this Reply
Many coins on ebay can be had at around melt. Certainly common Walkers, Franklins and Mercs. Find a reputable seller who either combines shipping or ships for free and remember to include any shipping charges into your bidding.
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throwbackid's Avatar
1283 Posts
 Posted 08/14/2011  10:23 am  Show Profile   Bookmark this reply Add throwbackid to your friends list Get a Link to this Reply
*** Edited by Staff - Please Review the rules that you agreed to when you registered. *** Last warning.
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specksynder's Avatar
United States
1080 Posts
 Posted 08/14/2011  10:45 am  Show Profile   Bookmark this reply Add specksynder to your friends list Get a Link to this Reply
check around at the local dealers. There's one in my area who sells 90% silver just above melt, and he usually has all kinds. He used to say Halves were hard to get because he sold out as soon as he got them, but lately I've heard him asking junk customers if they care if they get Kennedys, Franklins, or Walkers.
Valued Member
United States
397 Posts
 Posted 08/14/2011  7:26 pm  Show Profile   Bookmark this reply Add schockergd to your friends list Get a Link to this Reply
Look on craigslist for coins at melt , you should find quite a few. I found more than a few guys selling boatloads of SLQs, Barbers and Mercs @ melt.
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googoo's Avatar
United States
466 Posts
 Posted 08/14/2011  8:20 pm  Show Profile   Bookmark this reply Add googoo to your friends list Get a Link to this Reply
I check craigslist daily, but haven't seen anything in a while
I'm gonna try a few local coin dealers and since summer is over there will be coin clubs having there shows again in a month!
I will keep everyone posted on what happens
I would love halves if they were franklins or back, heck 64s wouldn't even be a bad thing I just wouldn't pull any out probably
Hopefully I can grab up some stuff now since silver has dropped off a little bit in the past couple months
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coinut's Avatar
United States
362 Posts
 Posted 08/14/2011  11:21 pm  Show Profile   Bookmark this reply Add coinut to your friends list Get a Link to this Reply
I second local dealers. My coin dealer is also a BIG silver dealer and his premium is almost nothing on junk silver. Go there first, second would be a bullion dealer, last would be E-bay, I haven't found a whole lot of deals on e-bay.
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bradarv90's Avatar
United States
11 Posts
 Posted 08/15/2011  02:51 am  Show Profile   Bookmark this reply Add bradarv90 to your friends list Get a Link to this Reply
Yeah craigslist and coin dealers tend to offer the lowest prices for silver and when it comes time to sell, ebay offers the highest sales.
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fistfulladirt's Avatar
United States
4333 Posts
 Posted 08/18/2011  08:02 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Where are all these Craigslist deals for silver at melt? I've been looking locally for 2 years and it's always overpriced and over melt. It's also hard to find ebay deals for silver at melt/combining shipping. I got tired of waiting, the deals are rare.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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nod2003's Avatar
United States
3294 Posts
 Posted 08/18/2011  08:47 am  Show Profile   Bookmark this reply Add nod2003 to your friends list Get a Link to this Reply
Yeah, I think it really depends on your location. I look for craiglist deals as well and have only found 2 good ones in as many years.
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throwbackid's Avatar
1283 Posts
 Posted 08/18/2011  09:55 am  Show Profile   Bookmark this reply Add throwbackid to your friends list Get a Link to this Reply
Get to 100 posts here and then that opens up your rights to buy here. Silver can be had at melt especially 90% silver US coins. When you meet the requirements contact me I have a lot of silver for sale at or close to melt.
Bedrock of the Community
United States
20753 Posts
 Posted 08/18/2011  10:02 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Where are all these Craigslist deals for silver at melt? I've been looking locally for 2 years and it's always overpriced and over melt. It's also hard to find ebay deals for silver at melt/combining shipping. I got tired of waiting, the deals are rare.

I too check that one out a lot and same results, nothing. Coins on that list by me just don't exist at all most of the time.
Valued Member
mwr1550's Avatar
United States
193 Posts
 Posted 09/10/2011  6:04 pm  Show Profile   Bookmark this reply Add mwr1550 to your friends list Get a Link to this Reply
You can try posting an ad on Craigslist wnating to buy coins. I did this a few times and had some success. Firt time I did it I got contactedby a lady who said she had a couple of old coins her grandfathre had left her. She agreed to meet me in a public place and then drew out about 8 Morgans and Peace dollars, some early Washington 1/4's, some Merc dimes and some indianhead pennies. Most of them were not anything special so I baought all the silver for a little under melt. She did have one 1888S morgan in about xf condition. I handed that one back to her because I didn' have enough to pay her what it was worth. She asked me why I didn't want that one and I told her the truth that it was worht more than I could afford at the time. She had no idea as to their worth and was grateful that I dind't try to cheat her out of it.
As it turned out about 1 year later I saw an ad on Craigslist for a 1888s Morgen for $150.00. When I inquired about it I found out it was the same lady. I contactedher and she remembered me. I told her I had the money now and was interested. She wsa still so gratefullI didn't cheat her that she let me have it for $100.00. It pays to be honest.
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