Can you make much money doing this?

[Martin(Hull)]

Hi. I'm new. I was just curious if there's any money to be made at this. What do you do with the special coins? I'm Canadian, so I'd buy Canadian coins. This sounds like it could be fun, I'm just curious of how you go about your business (or is it a business at all?). Thanks.

 

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[Immy]

I suppose you could make a regular profit if you did this in large volume and you cashed in your silver on a consistant basis. After all, you'd be buying low (face value) and selling high (US 40% halves currently have a silver value of $1.70 and 90%-ers are $4.16).

It can be a slow process which wouldn't make it a good full time business but as your accumulation grows you can be sitting on a nice little 4- or 5-figure nest egg that you can easily cash in whenever you wish.

And if you're a true coin collector you know half the fun is the hunt!

 

[goldinmypan]

Look at it as spectulation. On the one hand some of the coins have nuministic value which is more than the face value of the coin itself. On the other hand some of the coins are silver which as of today is selling for about $11.50 US. Early this year it was up to around $17 and should go that high again or higher. That makes the $.50 you spent cheep. All the coins you don't want are sold back at what you bought them for so there is no down side. Even if silver dropped to 20 cents an oz, you could still sell them for face....no loss.

Jump in join the rest of us crazy people.

 

[Martin(Hull)]

Where would I sell silver coins for more than face value?

 

[MAINE HILLS HUNTER]

Where would I sell silver coins for more than face value?

ebay of course. or a coin shop!

 

[bazinga]

I bet there is still a LOT of canadian silver in circulation in Canada! Since ALL of their dimes, quarters, etc have white edges they all look the same and require one to look through each date and pick them out that way. There must still be a fair amout left.

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