I think I ordered TOO much!

[jrf30]

Everyone that reads my posts knows I don't do halves very often. I averaged 1 silver per 8.3 boxes last year, so Why do it? But about twice a year I order some, in the (hopes) that there is something out there that i missed. When I do, I order from everywhere at once. I do that because after 4 or 5 skunks, I don't want to DO any more. But if I already HAVE them, then I do them just to get through them and get them out of here again. PLus I'm hoping that I make them go deeper into their stash and maybe down to a level that they haven't been to in a while, and I'll get some new things.

Anyway ... over the past year or so I've expanded the banks I go to. I get pennies mostly, and a lot of nickels, but I also ask for loose halves every time. And lots of banks hold them for me even. So I DO find silver, by getting them before they go into the system, and the more banks that I go to in order ot ask for loose ones the better my odds. I'm up to 48 banks on 2 circuits that I frequent.

I decided to order halves again for this week. First time in about 5 months. So I went to my normal runs, both sides, and grabbed some pennies, plus a few new silvers (yea!), and then ordered 2 boxes of halves. From each bank.

YIKES.

Next Friday, I have 48 banks giving me 2 boxes each. That means i have to come up with $48,000 in cash to BUY THEM. Guess I didn't think THAT one through! HA! I'll have to make withdrawals of $9,000 per day for five days to not go over the $10,000 reporting limit, and then I'll be able to buy what I need.

Anyone else find they have to have a LOT of capital tied up to make purchases, or do you stagger it out better than I did with my thinking this time?

I'll let everyone know how my NINETY SIX boxes go. I'm hoping for 15 silvers. It would be above my average, and at least make me feel good about the time it will take. I'll let you know in two weeks (maybe three, depending on how long it takes me to go through them all) how I did. For now though ... I just need another $45,000 to get me to where I need to be by Friday. LOLOL

 

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[namster]

You can make more in a year by keenly investing $48 K than you could ever make CRH any given year!

So far $300 has yielded $3000 in silver value...in 4 months. Where might I get a better return in the stock market?

 

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[jrf30]

This is an example of CRH Overdose! You will be lucky to cover the gas expense your using to hit 48 banks. IF you do have that much liquid cash available and not soundly invested in more interest bearing; stocks, funds or bonds or 401 or IRAs! It's a clear indication your penny wise and dollar foolish!! Mon Frere! Diversify.
You can make more in a year by keenly investing $48 K than you could ever make CRH any given year!
The only place you should be getting that kind of dough on short notice is home equity. Anything else means you need to be getting wise to the game! Just my .02 cents.

I own 92 rentals so far, and buying more all the time. hope to have 150 by the end of next summer. But I need liquidity to buy for cash, and I make cash offers literally daily right now. If I could buy 13 more houses this weekend, I'd be out of money again. But then I'd app;ly for about 10 new mortgages in the next few weeks, after I close to buy them, and that would give me more money again in 45 days to look for more deals. A cycle. So I go up and then I go down on cash available. But the cash flow is great, the returns are great, and it is just larger volume than most have in cash, but it is what it is. Show me 13 great deals today and I'll be out of money by next Friday. If not ... then I'll keep working on buying the rentals and finding deals, and do this in the meantime when I can. :-) PLus I own a minority interest in a treasure hunting company form teh Dominican repbulc that I bought recently, and they hope to go IPO in about a year. Stocks? no desire anymore. Spent too many decades with them, and now think the BEST deal at THIS time are the rentals. Also own many tan liens, averageing about 14% interest, so that covers some interest bearing too. Not bonds, because bonds don't pay 14% and also carry too much RISK right now. When rates go back up, bonds will go down in value. Short term bonds pay almost literally nothing. So no bonds. Oh, and I own quite a bit of silver, from CRH and from buying. And about 1 1/2 tons of copper from the pennies and building. Enough diversification? :-)

 

[d2arcing]

Please post pics of this hunt... Definitely something to see

 

[SFBayArea]

jrf30

Is your treasure hunting company going public on the pink sheets (OTC) or actually in the Nasdaq or AMEX? You have to be very careful with those penny stocks if they go public. All I can say is that if the prices on it goes parabolic like straight up within a short amount of time, sell right away because it will correct and usually a fast downer on a fast riser. You don't want to be holding the bag on a penny stock.

 

[Reverend B*IKE*]

You can make more in a year by keenly investing $48 K than you could ever make CRH any given year!

So far $300 has yielded $3000 in silver value...in 4 months. Where might I get a better return in the stock market?

Thats for you to find out!

 

[BuffaloBoy]

jrf, I agree with you, real estate is sure the way to go, especially in this economy. A house up the street from me, on 5 acres, sold for $65,000. I wish I had the money to buy it, an awesome deal.

I would love to see a picture of all 96 boxes of halves, if you take pictures, I've never seen that kind of volume
BuffaloBoy

 

[Reverend B*IKE*]

This is an example of CRH Overdose! You will be lucky to cover the gas expense your using to hit 48 banks. IF you do have that much liquid cash available and not soundly invested in more interest bearing; stocks, funds or bonds or 401 or IRAs! It's a clear indication your penny wise and dollar foolish!! Mon Frere! Diversify.
You can make more in a year by keenly investing $48 K than you could ever make CRH any given year!
The only place you should be getting that kind of dough on short notice is home equity. Anything else means you need to be getting wise to the game! Just my .02 cents.

I own 92 rentals so far, and buying more all the time. hope to have 150 by the end of next summer. But I need liquidity to buy for cash, and I make cash offers literally daily right now. If I could buy 13 more houses this weekend, I'd be out of money again. But then I'd app;ly for about 10 new mortgages in the next few weeks, after I close to buy them, and that would give me more money again in 45 days to look for more deals. A cycle. So I go up and then I go down on cash available. But the cash flow is great, the returns are great, and it is just larger volume than most have in cash, but it is what it is. Show me 13 great deals today and I'll be out of money by next Friday. If not ... then I'll keep working on buying the rentals and finding deals, and do this in the meantime when I can. :-) PLus I own a minority interest in a treasure hunting company form teh Dominican repbulc that I bought recently, and they hope to go IPO in about a year. Stocks? no desire anymore. Spent too many decades with them, and now think the BEST deal at THIS time are the rentals. Also own many tan liens, averageing about 14% interest, so that covers some interest bearing too. Not bonds, because bonds don't pay 14% and also carry too much RISK right now. When rates go back up, bonds will go down in value. Short term bonds pay almost literally nothing. So no bonds. Oh, and I own quite a bit of silver, from CRH and from buying. And about 1 1/2 tons of copper from the pennies and building. Enough diversification? :-)

MY BAD!!! IT seems like your pretty well spread out! (All your rentals full? We have allot of vacancies here in the east!) Along with many empty homes and store fronts for sale that are on the market for years!!! Things may be different out west?
MY point was basically things like personal time, gas expense, using credit versus spare cash etc. I just seem to notice allot people extending their finances just to enjoy this hobby. Overlooking the value of one’s time being vested versus doing more valuable/profitable things in life on a more productive basis! Like that guy who MAX's out his CC just to cover the coins searching!!Trying to make money on”keep the change” by buying one cent stamps?? Come on!
Taking this hobby to a ridiculous level! That’s all. You have to stay within your means! IT seems you got a good handle on things and clearly on top of it! So Kudos! To you!

 

[jrf30]

MY BAD!!! IT seems like your pretty well spread out! (All your rentals full? We have allot of vacancies here in the east!) Along with many empty homes and store fronts for sale that are on the market for years!!! Things may be different out west?
MY point was basically things like personal time, gas expense, using credit versus spare cash etc. I just seem to notice allot people extending their finances just to enjoy this hobby. Overlooking the value of one’s time being vested versus doing more valuable/profitable things in life on a more productive basis! Like that guy who MAX's out his CC just to cover the coins searching!!Trying to make money on”keep the change” by buying one cent stamps?? Come on!
Taking this hobby to a ridiculous level! That’s all. You have to stay within your means! IT seems you got a good handle on things and clearly on top of it! So Kudos! To you!

[/quote]

I don't worry about the gas and things. It was only about 70 miles round trip to hit all those banks. When i go golfing, I spend $85 as an average to play, and I don't conisder the cost. Just the fun. If i break even on this, then it is less expensive than golf, and also fun. :-)

Rentals out here stay pretty full. I have two vacancies that just came up this month, but that is all. And prices are rising FAST. Most people read the news that says prices are going down. I can tell you with certainty that it is NOT the case in Phoenix. The trustee sales are up $25K on little houses. More on bigger houses. Short sales are getting amzing bids at high prices. As an example. There is a subdivision with a model that is 1,832 sq ft. I own 8 of that same model. My lowest one I own at $49,781, bought in November 2010. It is rented out at $900 per month. Great cash flow, which is why this WORKS right now. The rest I own mostly in the $60K's after repairs. I was bidding as recent as November 2011 for $64,000 or lower. Last Friday a week ago one was listed on the market for $76,000 as a short sale. I know things have jumped up, and I need a few more houses before they go higher, so I bid the highest I have EVER bid. $82,000! Before any repairs. High for me. It sold on Saturday ... for $91,100! One day on the makret, it had 43 offers according to the agent, and 6 of them were $90,000 or higher. $91,100 was the one they took. AMAZING.

I am having trouble buying right now, because I am going higher and higher, on almost a daily change basis, and yet I am STILL a step or two behind, as they are going higher than my bid. I thought for SURE i would get that 1,832 for $82,000. I figured with about $4,000 in repairs (Mostly carpet and paint) that would put me at about $86,000 invested in it. It was high, and I was choking on the higher bid price, but I did it anyway. But 43 offers? in one day! And I wasn't even in the top ten? I wish I bought more at $64,000 a few months ago! Will I have to bid over $90,000 for them as of this week? I think SO. I was nervous at $82,000. Maybe I now need ot bid $92,000? Up from $64,000 in 5 months? That's a HUGE difference.

In another city, near there, I have raised all my bids about $25,000 per house. From about $80,000 on average to $105,000 on average. Since November. And in November, with $80,000 bids I was buying 5 - 8 a month. Now? Now, at $105,000 I have bought TWO since January 1! I might be able to buy more if I bid $112,000 for them, but having bought them at $80,000 just FIVE MONTHS ago makes it hard for me to buy even at $105,000, much less $112,000! And next week? It might be $116,000 to buy them. It is truly amazing.

Okay, I know this is the CRH board, and I apologize for mentioning real estate. I'll get back on topic next post. But now you know, that things ARE turning around,and prices are up HUGE in some markets. I think that bodes well for our SILVER prices in the next year TOO, as the economy recovers (And inflation comes in) Enough on it for now though. back to CRH.

I'll give everyone an update in about 10 days of how I do on the 96 boxes. :-)

 

[Th3Offspring]

the next real estate bubble.

 

[SFBayArea]

My guess is that you won't be able to get them all or at least once. There will some on back order. 96 boxes is a lot and I'm sure it's about or more than what they have on hand.

 

[sagittarius98]

My guess is that you won't be able to get them all or at least once. There will some on back order. 96 boxes is a lot and I'm sure it's about or more than what they have on hand.

It might go deep into the pallets, bringing silver.

 

[sagittarius98]

You can make more in a year by keenly investing $48 K than you could ever make CRH any given year!

Where might I get a better return in the stock market?

I guess if you find a good stock. I'd rather CRH than invest.

 

[ckrakowski]

Please post pics of this hunt... Definitely something to see

i agree i would love to see $48,000 dollars in just half dollars.

 

[jrf30]

My guess is that you won't be able to get them all or at least once. There will some on back order. 96 boxes is a lot and I'm sure it's about or more than what they have on hand.

It might go deep into the pallets, bringing silver.

that is EXACTLY the reason I wanted to order so many all at one time. :-)

 

[mleblanc138]

My guess is that you won't be able to get them all or at least once. There will some on back order. 96 boxes is a lot and I'm sure it's about or more than what they have on hand.

It might go deep into the pallets, bringing silver.

that is EXACTLY the reason I wanted to order so many all at one time. :-)

Does the system in AZ actually separate Silver and Foreign Coins? Gilmore Happy used to post about his long skunk streaks and mentioned that he also didn't get any foreign, so he thinks that the system is actually set to reject anything that isn't a regular coin, namely Silver.

 

[onfire]

How long to dump ?? and where

 

[sagittarius98]

My guess is that you won't be able to get them all or at least once. There will some on back order. 96 boxes is a lot and I'm sure it's about or more than what they have on hand.

It might go deep into the pallets, bringing silver.

that is EXACTLY the reason I wanted to order so many all at one time. :-)

Does the system in AZ actually separate Silver and Foreign Coins? Gilmore Happy used to post about his long skunk streaks and mentioned that he also didn't get any foreign, so he thinks that the system is actually set to reject anything that isn't a regular coin, namely Silver.

The coin companies don't own the coins, they just process them. Therefore, they can't just cull them (unless there is a conspiracy involved )

 

[BuffaloBoy]

back onto topic... somewhat...

96 boxes of halves, each box of halves roughly 25 pounds...

96 boxes x 25 lbs = 2,400 pounds. Yup, 1 ton+400 pounds. Hopefully your suspensions on your vehicle can handle this load(I'm sure it will).

Now think... if you got 1 pound of 90% silver from this batch, you'd probrably be happy, (44x 90% silvers). And that is only a fraction of 1%!!

Good luck, and of course, have fun.

 

[Xiao en]

Great Luck to you. I am also interested to hear how this goes.

 

[BillyOceansEleven]

Okay, I know this is the CRH board, and I apologize for mentioning real estate. I'll get back on topic next post. But now you know, that things ARE turning around,and prices are up HUGE in some markets. I think that bodes well for our SILVER prices in the next year TOO, as the economy recovers (And inflation comes in) Enough on it for now though. back to CRH.

I'll give everyone an update in about 10 days of how I do on the 96 boxes. :-)

No need to apologize. I for one find this pretty interesting.

Can't wait to see the 96 boxes!