5000 Mercs

[MichiganRob]

5000 Merc's

Hey guys

My brother was over to the house yesterday and I was showing him the 1925 Merc I had found...SO he says it's very nice but he's seen a lot of Merc's lately. My niece, his daughter is a teller at a local bank here and she calls him last week and says she has a bag of Mercury Dimes, $500.00 face value that a lady brought in and cashed out. He rushes down and buys the bag at face $500.00.

I don't know if my math is right but a Silver dime is about $1.20 melt value so 5000 Merc's must be worth about $6,000 dollars just melt plus whatever numismatic value any of them might have. Thought you all might like this story. I haven't seen em yet but I'll try and get a picture for ya

HH
MichiganRob

 

[jrf30]

Re: 5000 Merc's

How could someone possibly turn in a bag of silver for face? She must have had alzheimers or something.

I had a roll of Ben Franklines earlier this year a woman turned in to the bank for face. Bought them for $10. It happens.

Some people just don't care. They want to get rido f them, and the bank takes them. Some banks tell them ot go elsewhere to get more and they STILL say they just want ot turn them in. So they do.

Since the bank already had them, I see no problem in buying them from the bank. That was a WONDERFUL find. COngrats on it.

 

[jrf30]

Re: 5000 Merc's

Around here dealers are paying 12x face for 90% US silver. If you have a larger quantity sometimes a little more. Good $6,000 score........I wish I could make $5,500 on a $500 investment!

Check for 42 over 1 also. Could be a few hiding in there!

12 times face? How can they do that? They can buy them on the internet all day long for 10.2 times face!

Weird.

SHows that even some buyers just don't know how to do it right. Either that, or they are hoping for some numismatic value in some of the coins.

 

[golden silver]

Re: 5000 Merc's

i MUST see the pics!!!!.

Golden silver

 

[Ifyndit]

Re: 5000 Merc's

Around here dealers are paying 12x face for 90% US silver. If you have a larger quantity sometimes a little more. Good $6,000 score........I wish I could make $5,500 on a $500 investment!

Check for 42 over 1 also. Could be a few hiding in there!

12 times face? How can they do that? They can buy them on the internet all day long for 10.2 times face!

Weird.

SHows that even some buyers just don't know how to do it right. Either that, or they are hoping for some numismatic value in some of the coins.

I don't know but that is what I was quoted for the quantity I had to sell. But then again, people are buying $25 boxes of new pennies for $200-$300 a box and $500 boxes of Puerto Rico quarters are selling for $1,000+.

Silver is very hard to find around here and many coin shops have waiting lists for people wanting to buy silver. Take what you can while the getting is good! Some here have done quite well...good job!

 

[nyiangelo]

Re: 5000 Merc's

I'm happy for you, but feel a little bad for the little ol' lady. I'm surprised at how different the reaction here is for dimes vs the gold coins a while back.

My first thought as well......

 

[fistfulladirt]

Re: 5000 Merc's

I'm happy for you, but feel a little bad for the little ol' lady. I'm surprised at how different the reaction here is for dimes vs the gold coins a while back.

My first thought as well......

$500 in mercs is a heavy bag. And there's no mistaking them. I'm sure the lil ol lady knew what she had; it's true, some people really do not care and will cash in the silver, even after advice on value. FFD

 

[maine_Jim]

Re: 5000 Merc's

I'm sure no one told her she had just turned in 5K worth of silver. I do believe it could happen as I've had tellers hand me $500 worth of silver in rolls and thank me for taking those pesky things off their hands It does seems that a $500 bag of silver mercury dimes would be more than a little odd and that that amount would get all the tellers a little excited. It almost seems criminal but I must admit that I like most the rest of us here would have driven down to that bank as fast as I could to score that dime bag knowing that the old lady surely couldn't have realized what she had. On the other hand, when my mother in-law died she had a crap load of things and the wife didn't want to deal with getting rid of the stuff in the most profitable way...we just gave away bags and bags of things without looking at the stuff. She had been a shop-a-holic and had many new items with price tags on them. Didn't want to deal with it at the time....perhaps this was the same thing. Perhaps this was an old lady with a husband that just died that was a silver hoarder...like me

Maine_Jim

 

[Ju8vP3t]

Re: 5000 Merc's

Maybe she was related to Binion....

 

[coinmojo]

Re: 5000 Merc's

I'm happy for you, but feel a little bad for the little ol' lady. I'm surprised at how different the reaction here is for dimes vs the gold coins a while back.

My first thought as well......

$500 in mercs is a heavy bag. And there's no mistaking them. I'm sure the lil ol lady knew what she had; it's true, some people really do not care and will cash in the silver, even after advice on value. FFD

Don't want to start into it cause iI get beat down everytime we get into morality issues here.

Mixed emotions to say the least.

Great "Find" if it was a Find.
What a "Shame" if the coins were accepted by a teller with full knowledge of their true Value is all I can say.

Fellow CRH's Please inform your loved ones of the value of your coins and how to dispose of them in the event of your Death.

Mojo

 

[MichiganRob]

Re: 5000 Merc's

I don't know the lady's motivation for cashing the coins for face, but people dump silver for face all the time or there wouldn't be coin roll hunters. Those Walkers aand Barber's and Silver Proofs come from people who took em to the bank and cashed em in and the teller rolled em up. I've seen many a post where some CRH got a solid silver roll or two or three...so... How could a person cashing 5000 mercs not know what they were? Just didn't care or just didn't want to mess with 'em, some people just don't value items the way someone else might.

PICS ARE COMMING

HH
MichiganRob

 

[packerbacker]

Re: 5000 Merc's

Holy Mercurys!!!!!!!!!!

 

[Mentone Grizz]

Re: 5000 Merc's

Man oh man, my man!!

 

[47thelement]

Re: 5000 Merc's

Hey Rob---

Pics?

 

[HolyDiver]

Re: 5000 Merc's

Very cool. Pics would be wicked.