Silver buyers at my local coin shop...

[clovis97]

The silver buyers were out in force at my local, small town coin shop on Saturday.

I stopped in, mainly to look around, and to kill some time. As usual, the shop was busy.

In the short ten minute time frame that I was in the shop:

*One guy and his wife bought 15 90% halves, and as he was paying, told the shop owner, "I'll go ahead and take this stack too". Not sure how many was in that stack, but there was more than half a roll, making his buy at least 25 90% halves.

*Another guy immediately took his place at the counter, and bought 10 Morgans for a total of $290.

*One other customer was in deep negotiations over Morgans. There were at least 200 Morgan dollars on the counter, and it appeared that he was going to buy, at minimum, 100 of those.

*The phone rang, and the shop owner answered, then said "I'm short on rounds right now, but I do have a few 2012 ASE's I can hold them for you until 2:00 today...they are in hot demand."

*One last customer was wanting to look at silver, but was waiting until the other customers left the counter.

Not sure why I'm posting this, except maybe to say that sometimes, when you hear all the bears say that the bottom is falling out of the silver market, it is hard to remember that hardworking people are still plunking down cold hard cash for silver...and they must believe that it is still a good investment vehicle.

 

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[nsdq]

prices seem a bit high for me to pay but sound mainly as if there init for weight not collectors value?

 

[clovis97]

prices seem a bit high for me to pay but sound mainly as if there init for weight not collectors value?

These guys were silver buyers, with the exception of the last guy. He seemed as interested in the collecting side as much as the silver value.

 

[nsdq]

well it is what it is, happy huntinn

 

[Bigheed]

Silver dollars can fetch a premium, but I certainly wouldn't pay more for one than I could get an eagle for , 23-25 seems more reasonable, 29 seems like a bit of a hustle. But hey, when silver is 40+ again that will be considered a "good buy" so it will all work out in the end!

"In Theory (TM) "

Bigheed

 

[clovis97]

Silver dollars can fetch a premium, but I certainly wouldn't pay more for one than I could get an eagle for , 23-25 seems more reasonable, 29 seems like a bit of a hustle. But hey, when silver is 40+ again that will be considered a "good buy" so it will all work out in the end!

"In Theory (TM) "

Bigheed

I should have noted that those silver dollars were "better date" Morgans.

 

[cuzcosquirrel]

The only silver I have bought into at this time are things I really wanted, or very good quality morgans or peace dollars with high collection value that would hold up if silver continued to drop.

I have seen people selling silver almost everey time I have gone into my area's large coin-jewelry store.

I have picked up a few collector things other people have sold in. Last thing I picked up was an 1808 8 reals trade dollar with chopmarks and a 1875 carson city dime.

I asked after their gold 5$ coin population because I thought that would be a good indication of how much gold was coming in. Where they had previously had none, they were able to show me 6 san francisco 5$ gold coins 1875-1915. This made me believe that a lot of people have sold their gold coins in.

 

[nsdq]

i think it is cheaper to pop them out of the ground but it may take a long time just more fun

 

[Bigheed]

I understand the numismatic attraction to Morgans - good or bad quality, they are cool, historic, etc, and to the right crowd they have a "premium value".

But my opinion in this day and age is that if I am stacking / buying silver as a hedge against inflation, or worst case scenario, I just want the most Ag for my dollar.

I also think that if $h** really got that bad, people wouldn't give 2 hoots about an 18XX Morgan vs a 1921 Morgan. At that point, silver is silver.

Just my 2 cents.

Bigheed

 

[oneeye]

I understand the numismatic attraction to Morgans - good or bad quality, they are cool, historic, etc, and to the right crowd they have a "premium value".

But my opinion in this day and age is that if I am stacking / buying silver as a hedge against inflation, or worst case scenario, I just want the most Ag for my dollar.

I also think that if $h** really got that bad, people wouldn't give 2 hoots about an 18XX Morgan vs a 1921 Morgan. At that point, silver is silver.

Just my 2 cents.

Bigheed

I agree 100%, and I am an avid coin collector. At this point, my coin collecting is on hold as I too prefer to accumulate PMs rather than "collectibles".

 

[namster]

I understand the numismatic attraction to Morgans - good or bad quality, they are cool, historic, etc, and to the right crowd they have a "premium value".

But my opinion in this day and age is that if I am stacking / buying silver as a hedge against inflation, or worst case scenario, I just want the most Ag for my dollar.

I also think that if $h** really got that bad, people wouldn't give 2 hoots about an 18XX Morgan vs a 1921 Morgan. At that point, silver is silver.

Just my 2 cents.

Bigheed

yup.