Turning Silver

[dejapooh]

I had a Black Friday Garage sale, and SPECIFICALLY listed Coins as something I had. There is a buyer of coins I see at the garage sales every week. He only buys coins. He shows up, and we shoot the bull for a while. I show him my bottle of Silver Coins. He pulls all of my silver Dollars and a few other pieces I have. The Dollars are all common dates, and EX to AU grade. He asks what I want, I tell him, "I want $2 each." Of course, he looks at me like I am insane (he knows that I know about coins). "I want $2 face 90% silver for each. You are COLLECTING coins, I am Gathering Silver." The AG to G Barber Halfs? I want $1 each.

He runs home, Gets all the silver he has on hand and we make the deal. $40 face of mostly walking lib halfs (vf to ex, no real silver lost to wear). Another $5 for the Barber Halfs. He's happy, He's got some nice coins for his next coin meet. He Buys common silver at a discount at the Garage sales, so I am pretty sure he is in the Dollars at $10 or so each. I'm happy because my silver bottle is full (you never know, I could be wrong and there may be a total economic collapse). I still have some UNC. Washington Carver commem's Columbus Commems, and a bunch of interesting foreign silver coins... He wanted them, but I didn't have values on hand.

BTW, Sold about $1500 in stuff I had not been able to sell online yet. Stuff I had not put up yet (too much work to do), and so on. Black Friday, Bleak Saturday is the best time to have a garage sale... Absolutely NO competition.

 

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[cyberdan]

He asks what I want, I tell him, "I want $2 each." Of course, he looks at me like I am insane (he knows that I know about coins). "I want $2 face 90% silver for each. You are COLLECTING coins, I am Gathering Silver."

That is a great idea. I don't really care what demoninations my coins are. I really like morgans but I would quickly trade $2 face (or more) for one of them. I need to do through my treasure chest and see how many big dollars I have, then figure a good place to do my trading.

 

[bill from lachine]

Maybe I'm missing something here....but based on the latest quote 90% silver is going for $9.00 per $1.00 face?? Why would you be selling it so cheaply.

https://online.kitco.com/refining/gold-silver.html

Regards + HH

Bill

I had a Black Friday Garage sale, and SPECIFICALLY listed Coins as something I had. There is a buyer of coins I see at the garage sales every week. He only buys coins. He shows up, and we shoot the bull for a while. I show him my bottle of Silver Coins. He pulls all of my silver Dollars and a few other pieces I have. The Dollars are all common dates, and EX to AU grade. He asks what I want, I tell him, "I want $2 each." Of course, he looks at me like I am insane (he knows that I know about coins). "I want $2 face 90% silver for each. You are COLLECTING coins, I am Gathering Silver." The AG to G Barber Halfs? I want $1 each.

He runs home, Gets all the silver he has on hand and we make the deal. $40 face of mostly walking lib halfs (vf to ex, no real silver lost to wear). Another $5 for the Barber Halfs. He's happy, He's got some nice coins for his next coin meet. He Buys common silver at a discount at the Garage sales, so I am pretty sure he is in the Dollars at $10 or so each. I'm happy because my silver bottle is full (you never know, I could be wrong and there may be a total economic collapse). I still have some UNC. Washington Carver commem's Columbus Commems, and a bunch of interesting foreign silver coins... He wanted them, but I didn't have values on hand.

BTW, Sold about $1500 in stuff I had not been able to sell online yet. Stuff I had not put up yet (too much work to do), and so on. Black Friday, Bleak Saturday is the best time to have a garage sale... Absolutely NO competition.

 

[lastleg]

We all know if there was a total economic disaster and everyone lost their jobs and were
kicked out in the street the first thing on their minds would be buying some silver coins
at three times their value which would be good for the silver bugs, right?

In the real world total economic disaster commodities are the last things on their mind.
Survival is probably more important than a hunk of metal.

 

[jerseyben]

I had a Black Friday Garage sale, and SPECIFICALLY listed Coins as something I had. There is a buyer of coins I see at the garage sales every week. He only buys coins. He shows up, and we shoot the bull for a while. I show him my bottle of Silver Coins. He pulls all of my silver Dollars and a few other pieces I have. The Dollars are all common dates, and EX to AU grade. He asks what I want, I tell him, "I want $2 each." Of course, he looks at me like I am insane (he knows that I know about coins). "I want $2 face 90% silver for each. You are COLLECTING coins, I am Gathering Silver." The AG to G Barber Halfs? I want $1 each.

He runs home, Gets all the silver he has on hand and we make the deal. $40 face of mostly walking lib halfs (vf to ex, no real silver lost to wear). Another $5 for the Barber Halfs. He's happy, He's got some nice coins for his next coin meet. He Buys common silver at a discount at the Garage sales, so I am pretty sure he is in the Dollars at $10 or so each. I'm happy because my silver bottle is full (you never know, I could be wrong and there may be a total economic collapse). I still have some UNC. Washington Carver commem's Columbus Commems, and a bunch of interesting foreign silver coins... He wanted them, but I didn't have values on hand.

BTW, Sold about $1500 in stuff I had not been able to sell online yet. Stuff I had not put up yet (too much work to do), and so on. Black Friday, Bleak Saturday is the best time to have a garage sale... Absolutely NO competition.

So you basically accepted 4 walkers for a nice morgan? You accepted an even trade in silver for culls? Just making sure I am reading this correctly.

 

[diggummup]

So you basically accepted 4 walkers for a nice morgan? You accepted an even trade in silver for culls? Just making sure I am reading this correctly.

Confusing to me too. Hence the lack of my reply, when I read it days ago.

 

[dejapooh]

That is a great idea. I don't really care what demoninations my coins are. I really like morgans but I would quickly trade $2 face (or more) for one of them. I need to do through my treasure chest and see how many big dollars I have, then figure a good place to do my trading.

Local coin club would be my starting place. Go one month and bring your dollars. Let everyone know you want to trade. Give out your phone number and let the phone ring.

 

[dejapooh]

So you basically accepted 4 walkers for a nice morgan? You accepted an even trade in silver for culls? Just making sure I am reading this correctly.

4 walkers for a Morgan, or a Peace Dollar. That's correct.

2 walkers for a Barber Half (AG to G).

 

[dejapooh]

We all know if there was a total economic disaster and everyone lost their jobs and were
kicked out in the street the first thing on their minds would be buying some silver coins
at three times their value which would be good for the silver bugs, right?

In the real world total economic disaster commodities are the last things on their mind.
Survival is probably more important than a hunk of metal.

Granted, Silver... or any medal is no harbor in a TOTAL melt down. It is only worthwhile in a hyper-inflationary spiral. Considering inflation is pretty well under control right now, I see no immediate need. Considering the price of silver, I see no point is selling them for melt. If I am playing for a raise in silver due to inflation or shortage (either real or man made), then I am better off with $2 in walkers than $1 is Morgans in roughly the same condition.