Anyone buying any silver today?

[jim4silver]

I couldn't resist the temptation, and one of my coin dealer friends gave me what I think is a good deal. I got some of the dreaded Merry Christmas/holiday rounds that were headed for the refiner and paid 25 cents below spot. Also got some worn/junky 90% dimes and quarters for spot (coin dealer weighed them and charged me based on silver weight only--not based on face value). What is neat is the coins are mostly old Mercury dimes and barber and standing liberty quarters, which I had none of before today. You can read the date on many of them but they are heavily worn. But for melt I thought what the heck.

Jim

 

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[TreasurePirate69]

Sounds like you did pretty good. I love the old junk silver. No true numismatic value per se, but so many people have never even seen one so they make great conversation pieces. There is just something cool about holding those old coins!

 

[jim4silver]

Sounds like you did pretty good. I love the old junk silver. No true numismatic value per se, but so many people have never even seen one so they make great conversation pieces. There is just something cool about holding those old coins!

I was a bit surprised he was going to melt the barber and standing liberty quarters because some people want them irregardless of their wear if you can read the date and see much of the detail. My standing liberty have worn dates mostly, but the barbers are all pretty good that way. He said he was selling all the silver and gold he buys within 24 hours and not holding any real inventory except the numismatic stuff. Not a big volume coin dealer but he says many of his regular customers have standing orders for silver (better stuff like ASEs, silver dollars and premium .999). As long as the holiday bars are genuine I am fine with them at 25 cents below spot but they are not my favorites.

Jim

 

[Marchas45]

I was a bit surprised he was going to melt the barber and standing liberty quarters because some people want them irregardless of their wear if you can read the date and see much of the detail. My standing liberty have worn dates mostly, but the barbers are all pretty good that way. He said he was selling all the silver and gold he buys within 24 hours and not holding any real inventory except the numismatic stuff. Not a big volume coin dealer but he says many of his regular customers have standing orders for silver (better stuff like ASEs, silver dollars and premium .999). As long as the holiday bars are genuine I am fine with them at 25 cents below spot but they are not my favorites.

Jim

Good for you Jim, I'm meeting a guy on Friday afternoon to buy $3000 worth of 90% Dollars, Halves and Quarters at spot. The dollars have a big mark up on them like $26 0n up so I'm getting a great deal. Hope he has mostly Dollars. Lol Keep Stacking

 

[TreasurePirate69]

Good for you Jim, I'm meeting a guy on Friday afternoon to buy $3000 worth of 90% Dollars, Halves and Quarters at spot. The dollars have a big mark up on them like $26 0n up so I'm getting a great deal. Hope he has mostly Dollars. Lol Keep Stacking

Take a magnet with you and test those dollars. I would be wary of buying silver dollars from someone who doesn't know or appear to know the true value of them. There are a lot of fakes out there. Probably not a problem but it's always good to be careful. Good luck.

 

[Marchas45]

Lol I have the Fisch Tool, I don't need a magnet and I know my silver but thanks for your concern.

Welcome to Fisch - Dont buy fake gold coins. Get the Fisch. Protect your gold investment.

 

[TreasurePirate69]

Lol I have the Fisch Tool, I don't need a magnet and I know my silver but thanks for your concern.

Welcome to Fisch - Dont buy fake gold coins. Get the Fisch. Protect your gold investment.

Good to know.

 

[jim4silver]

Good to know.

If you are talking about silver coins minted by a government, I believe it is better to learn the coins well then a person would be able to spot a fake pretty quick by looking at and holding the coin.

There are fake generic silver one ouncers floating around out there and those are not as easy to discover from what I have seen online.

Jim

 

[jim4silver]

Made my final silver purchase today (for a while unless the price drops another couple bucks). Was able to get some nice generics for 45 cents over spot. Lots to pick from so I was able to get what I thought was the nicer stuff. Got some cool Star Trek silver coins and a couple Disney coins (I know that stuff does sell well on ebay but I am not into that) along with many different types of the common generic silver rounds from the 80's and 90's. They even had some silver Buffalo rounds in there but I am not really into those much anymore.

Was told that some long time customers of this store dumped large parts of their silver collection this week and they were in panic.

Jim

 

[Marchas45]

Hi! Jim just bought these tonight. $190 Face Value 90%'s all Dimes, Quarters and Half's but mostly Quarters and I got it below spot from a guy on Craigslist.

 

[marz]

I have been saving up sliver for a little over 2 and a half years now I will buy $60-$80 worth each month. Kinda like a saving but with sliver hope all my hard work pays off

 

[jim4silver]

I wish I had more patience but I don't. I decided to buy some gold and silver. I know everyone thinks the price is going to zero, but I like to have nice shiny disks to play with.

Got a one ounce GAE for $1400 (impulse buy I hope I won't regret) and some BU mixed year ASEs for $26 each (really good years from 80s and 90s, etc). I went to a couple local coin stores and they have doubled their premiums, even on generic silver bullion. The gold has not gone up much at all as far as premiums. I was able to get my stuff today from a small time coin dealer/buyer who gave me a good deal otherwise I would have waited.

Good luck finding any physical anywhere near spot for a while, unless of course the price stays down for a long time, which I doubt it will. One store told me they will not be getting new 2013 ASEs in until June or so.

Jim

 

[Marchas45]

I wish I had more patience but I don't. I decided to buy some gold and silver. I know everyone thinks the price is going to zero, but I like to have nice shiny disks to play with.

Got a one ounce GAE for $1400 (impulse buy I hope I won't regret) and some BU mixed year ASEs for $26 each (really good years from 80s and 90s, etc). I went to a couple local coin stores and they have doubled their premiums, even on generic silver bullion. The gold has not gone up much at all as far as premiums. I was able to get my stuff today from a small time coin dealer/buyer who gave me a good deal otherwise I would have waited.

Good luck finding any physical anywhere near spot for a while, unless of course the price stays down for a long time, which I doubt it will. One store told me they will not be getting new 2013 ASEs in until June or so.

Jim

Like I said in my PM Jim, bought two rolls off Buffalo's and two rolls off Philharmonic's $27.50 ans $25.70 bought the Phil's on Sunday night. Keep Stacking while it's good.

 

[cyberdan]

I negoitated with someone for his coin collection all last week when silver was around 27. I picked it up saturday and see silver wnet down 2 and now it is down 2 more. I was going to sell it right at spot yesterday but now i have to wait. I need to make some kind of profit.

 

[Marchas45]

Hi! Dan let me know what you have as I may be interested, PM me. Charlie

 

[jim4silver]

I got a good grab on some 90% halves today. As I mentioned in another post, I was able to basically buy them for what my coin dealer friend would get from his wholesaler which was 18.1X face.

Bought almost $100 face of Walkers and Franklins, that are at a minimum VF-XF (there are a couple of damaged rimmed coins but I won't count those) and there are a few AU Franklins amongst the pile (late years). I thought that they might be slicks or heavily worn when I spoke to him earlier today, but when I got there he said that stuff was removed and all the remaining were in decent shape. He was right. I haven't looked through the Walkers at the years/mint marks but I assume any good years are not there, but I was really impressed with the overall condition of them. He said one of his other regular customers got "cold feet" due to the falling prices and sold part of his stash. I could have gotten a bit more (the rest were quarters and dimes) but I used up all my extra "silver buying" money for now.

I guess the price will fall further now.

Jim

 

[TreasurePirate69]

That's a good deal considering today's premiums. And if they are nice coins then that is a REALLY good deal! I wish I had a decent friend/dealer that I could do business with. All of the dealers around here are pretty nasty (both in their prices/dealings and in their personalities).

 

[jim4silver]

That's a good deal considering today's premiums. And if they are nice coins then that is a REALLY good deal! I wish I had a decent friend/dealer that I could do business with. All of the dealers around here are pretty nasty (both in their prices/dealings and in their personalities).

TreasurePirate,

If I had more cash with me today I would have bought more of the halves. I wasn't expecting anything really good but was very happy when I left.

I have to agree 100% about the nasty personalities you mention. Out of the dealers I use, only one has a decent attitude most of the time. The rest treat me well because I know how to deal with them without hitting their "buttons" so to speak, but are capable of becoming super a-holes at the drop of a dime. Many times in the past when I was learning how things worked I wanted to tell them to go to he!!, but had enough sense to not make enemies with them. One thing to keep in mind is they are like that with pretty much everyone and not to take it personal.

As far as getting great deals, it helps to appeal to their business sense. If they are going to refine or wholesale something, most should prefer to make more selling to a customer for cash instead of shipping it. But you can't be picky when you try this angle. You can't do anything that would make your transaction with the coin dealer any more stressful, difficult, etc, than the transaction would be if the coin dealer just shipped the stuff off somewhere.

Some coin dealers might not be willing to do this because they might fear once you buy something from them at wholesale you'll never buy anything retail if you are already a steady customer. That is a false fear because there are times I buy at retail prices from my coin dealers even though I have picked up stuff wholesale at different times in the past.


Jim

 

[TreasurePirate69]

TreasurePirate,

If I had more cash with me today I would have bought more of the halves. I wasn't expecting anything really good but was very happy when I left.

I have to agree 100% about the nasty personalities you mention. Out of the dealers I use, only one has a decent attitude most of the time. The rest treat me well because I know how to deal with them without hitting their "buttons" so to speak, but are capable of becoming super a-holes at the drop of a dime. Many times in the past when I was learning how things worked I wanted to tell them to go to he!!, but had enough sense to not make enemies with them. One thing to keep in mind is they are like that with pretty much everyone and not to take it personal.

As far as getting great deals, it helps to appeal to their business sense. If they are going to refine or wholesale something, most should prefer to make more selling to a customer for cash instead of shipping it. But you can't be picky when you try this angle. You can't do anything that would make your transaction with the coin dealer any more stressful, difficult, etc, than the transaction would be if the coin dealer just shipped the stuff off somewhere.

Some coin dealers might not be willing to do this because they might fear once you buy something from them at wholesale you'll never buy anything retail if you are already a steady customer. That is a false fear because there are times I buy at retail prices from my coin dealers even though I have picked up stuff wholesale at different times in the past.


Jim

Good advice. I think what I need to do is make friends with a couple of the dealers that are always at the monthly coin show. Many of the dealers there are good guys and are getting to know me. They do the coin show as much for the social aspect as they do for making money. There is one guy I have been consistently buying from because he seems to be the only guy who has good British Crowns at good prices. He is a really nice fellow. I'll keep throwing money his way and maybe I'll get the chance to try to appeal to his "business sense".

 

[cyberdan]

I thought I did good till I saw what all you guys bought.

I bought 129 JFK halves 40% 1965-69 (no 70's)