2 votes

Where to get junk silver?

All over eBay the prices on 90% junk silver seem to be outrageously over what it's worth. A roll of 90% quarters is worth about $206 right now, but of course they are like $250 and higher for worn circulated crap. $206 assumes they are the weight they were when they were minted, which doesn't apply to circulated currency over 50 years old. Then you have the uncirculated or lightly-circulated crap that is going for $350-$400. I can see spending around $260 for the newer uncirculated proof state quarters, but not that much for old, circulated, worn crap. Does anyone have a source where to get small amounts of this stuff for about melt value? Even the bulk bags (which I could never afford, but this statement is for a point) are insanely overpriced and you don't get any bulk discount. It seems the prices aren't shrinking with the spot price. BS to me.



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BE WARY

A friend got ripped off by a trusted, local dealer about a week ago. First, the guy have him wrapped rolls of dimes and quarters, and there were coppers in there. Then after it was all "straightened out" they guy wound up paying for some coins that never got put back into his pile. We went to cash a little in last week at our local dealer - in a small town, mind you... He thought we were "down on our luck" (I guess in a way, but we saved the silver to develop the property, and we needed some materials. We look at it more like dipping into the savings account - sucks, but it is why we have savings.) Anyway, the guy tried to absolutely screw us- about 1/4 spot. So we offered to buy some at that price... he had none for sale. Now, maybe he was lying at that point, but he USUALLY has a display out, and he genuinely did not appear to have any. It was very odd, very odd.
It is an extra hour drive for us, but we don't play with anyone but the one dealer in Boise who has ALWAYS been square with us. I would not buy from ebay under any conditions, but CERTAINLY not now, when LOCAL dealers are ripping people off, face to face.

Love or fear? Choose again with every breath.

Dirt cheap silver

I just bought a large 1/2 ounce solid silver vintage piece of costume jewelry (a large silver maple leaf pin) from a well known maker marked "sterling" at a thrift store for $1.00 today :)

The bold effort the present bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it-Andrew Jackson

We caught a little backwoods pawn shop with numismatics

less than spot. We cleaned him out, he only had a few. I know he thought "stupid coin collectors."

Love or fear? Choose again with every breath.

Not really answering your question

But I'm selling a pretty neat copper coin from Italy circa 1859 on ebay. Check it out http://www.ebay.com/itm/251240058072?ssPageName=STRK:MESELX:...

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    I have 13 40% halves

    at my shop, email me at knarfxii@yahoo.com and I will sell them at spot, you pay shipping.

    I also have

    21 generic rounds I will sell for $1 over, 20 other generic rounds I will sell for $2 over, and 12 2013 Eagles I will sell for $5 over

    I really only look for full

    I really only look for full rolls of 90% stuff and Eagles. I'm not that interested in 40% halves unless I see them in circulation for face value. A local dealer sells old Eagles for $2.50 over and new ones for $3.00 over. I am waiting for the price to go up again to unload my generic stuff. I am just buying stuff that was made by the US Mint from now on.

    Please come join my forum if you're not a trendy and agree with my points of view.

    Wise move, ram

    As long as the execrable Legal Tender (TM) laws exist we should use them AGAINST Leviathan. Though they may be silver, they are still only taxable at face value as USLT but only as long as they are exchanged at face value, so look for a 90 or 96 or 97 per cent discount, depending on the purity (.400, .900, or .999) of your USLT silver coins.

    As a retail clerk myself, I have the opportunity to (ir)regularly pick up 90 & 40 per cent silver at face, but not as much as I'd like, so I still visit coin shops, suck it up, and pay their premium for "junk". Always trying to augment the "core savings account."

    dynamite anthrax supreme court white house tea party jihad
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    This guy is worth a shot,,

    This guy is worth a shot,, he's the War Nickel king

    Running Bear Coins
    PO Box 186, Kanona, NY 14856
    (607) 368-2617

    A nation of sheep breeds a government of wolves.

    Depends

    On where you live can't give a great answer unless we know. I use my local cash for gold guy as well as my local flea market guy. You rarely will get it at spot so if you can afford it buy larger quantities. I will also use Apmex here is a link for you

    Look at this on eBay:

    90% Silver Coins - $100 Face Value Bag - 90 Percent Silver

    http://bit.ly/ReTL5C
    Look to join your local coin club if there are any our club meets 2 times per month here in Massachusetts. Also if it is coming to your town the silver circle movie attend that as well and you could make a bunch of contacts there. Good luck in your search.

    Just Be Careful

    Some places sell metals with silver on the outside but cheaper stuff on the inside.

    I'm well aware of that, but

    I'm well aware of that, but it doesn't make much sense for people to try to counterfeit small coins, and pretty much any silver. Gold is really where you have to look out.

    Please come join my forum if you're not a trendy and agree with my points of view.

    Outdated information.

    They are counterfeiting small denominations of silver now, too. Ounces are all I have seen reported, should be safe with junk still... but silver needs watched, too.

    Love or fear? Choose again with every breath.

    There have always been plated

    There have always been plated items. It's up the person selling it to be honest about what it is. They are primarily made to be cheap decoys for people afraid of confiscation.

    Please come join my forum if you're not a trendy and agree with my points of view.

    I especially don't understand

    I especially don't understand how people are taking the cheap coins that cost 1/10 their face value to make, wrap them up all nice, and sell them for more than twice their face value. Should I just start getting rolls from the bank and just separating stuff by year to make rolls of the same year to sell for twice face value?

    I saw a roll of Franklin halves that were perfect selling for $800. Another auction for $20 face of Franklin halves loose in bags to get scratched up are selling for over $1,200. Are people actually paying for this crap?

    Please come join my forum if you're not a trendy and agree with my points of view.

    if you work retail with cash..

    keep an eye on your change drawer.

    i ran across nearly 2oz worth of silver in mercury dimes in one day. don't happen often, but when it does, swap it out.

    also, collect all your change in a 5 gallon carboy. go through it and separate the pre 1962 pennies, etc.. you've got a lot of em and they're mostly copper. they're worth 2 cents.

    if you need to know what coins have any precious metals, check coinflation.com and make your decision as to what to look for and keep.

    easy and free way to acquire.

    I know all about the coins.

    I keep my change in plastic tubes and wrap it up in paper rolls as soon as they're full. The only difference between that and saving a massive amount over time is perception. I roll up brass pennies and nickels and keep them. All of the other change I spend. The pennies aren't really worth 2.3 cents because they're illegal to melt at the moment. Same applies to the nickels, but they've dipped below face value today. I've only ever got a 40% silver half dollar and a Silver Eagle from asking for coins. There's just nothing out there anymore, and by the frequency I ask for coins, the place is onto my game and they just keep them for themselves now. There are also other people who do the same thing at the same store and are able to get there before me. The general manager hoards halves underneath the tray in the till. I'm reluctant to have my bank order $500 in halves from the Fed to search through. It's just a waste trying to find silver in circulation anymore, unless you work with cash, and that time could be spent doing something more constructive for more and surer profit.

    Please come join my forum if you're not a trendy and agree with my points of view.

    Cyril's picture

    "It seems the prices aren't shrinking with the spot price."

    "It seems the prices aren't shrinking with the spot price."

    I confirm, of course. But think about it: it totally makes sense for sellers, matter of fact - when the spot price goes down, if one sells, it's one's interest to not let their selling price go down as fast. Likewise, when the spot goes up, sellers have to reduce their margin/premium if they want to attract buyers - quite natural free market laws, as part of the bid/ask game, if you like.

    Now, I don't personally use eBay, only dear wife does, so I'm not competent on the state of current trends, although I did a bit of raw data mining lately, just out of Math curiosity, on what's going on re: silver coins, on there:

    http://www.dailypaul.com/275438/diy-data-mining-silver-coins...

    However, my wife did mention not so long ago that it was less and less easy to find great or just good deals on eBay, so I suppose she could relate to your experience you've posted, too.

    And, if you can't move around easily, I can sure relate - pedestrian here. But true, also, online dealers a la APMEX and ProvidentMetals do offer what they call "Our Choice" kind of deals, see for instance:

    http://www.providentmetals.com/1-face-value-90-silver-us-coi...

    http://www.providentmetals.com/1-oz-999-fine-silver-round-mi...

    I find the shipping costs reasonable on average. The only thing is to watch when the premium gets at its lowest - hint: and that's, again, usually NOT when the spot price itself goes down - quite the opposite, like I said. And yes, currently the premiums are high, pretty much everywhere... :/

    If your recurring silver stacking budget is humble or very humble, I can only recommend you just wait to save enough fiat dollars over longer periods of time to buy more than just a few ounces, as that's not quite worth it otherwise, after you add the premium + shipping on top of it.

    Good luck!

    'HTH,

    P.S.
    No idea why you got down voted, but I voted you back up, FYI.

    "Cyril" pronounced "see real". I code stuff.

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    I was lucky a few months ago

    I was lucky a few months ago and got some War Nickels and silver dimes for under melt off eBay. I believe one of the items had free shipping. Last week I got a roll of War Nickels for under melt. They are easy to find cheap because no one wants them. Now the dimes have crept up.

    Please come join my forum if you're not a trendy and agree with my points of view.

    Buy from Peter Schiff

    Aren't those kind of places

    Aren't those kind of places for millionaires looking to buy millions in gold? If you have to contact them to set up some pricing, there's a minimum order. It's like when I search for some electronics components and you get to some corporate page and there are no products, just fields in which they operate, and all you see on the site is crazy financial info and ways to get in touch with them for presumably huge manufacturing runs.

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    I Think Their Minimum Junk Silver Order is 10K

    But I'm not positive about that.

    That makes sense. I lump his

    That makes sense. I lump his company in with those I see on TV offering you free silver with the purchase of gold. You can assume it's for the big league.

    Please come join my forum if you're not a trendy and agree with my points of view.

    Expect to pay a premium

    Regardless of where you purchase "junk" silver, you should expect to pay a premium. How much? That would depend on market conditions, availability to dealer, and a myriad of other factors. Generally between 3% and 5% above "spot" is considered normal, with dealers that have access to larger inventories usually charging in the lower of the range.

    EBay prices seem to be on the high side of normal, but much of that difference can be attributed to the fees charged by both eBay and PayPal. The rest by a buying public that may be in a panic buying mode.

    Where you buy is your business, but before you do, take a look at coinflation.com or other sites that list the precious metal value of many US coins. Many of these sites do not list coins not intended for circulation, so a good guidebook listing these would be helpful.

    Also, collector value of proof, uncirculated, and many older coins demand a higher premium.

    Be careful, have fun.

    I am not in this for

    I am not in this for collecting, so it pisses me off when peoples' numismatic boners for things rub off onto the price of crap I'm going to wind up circulating. You either have a choice to pay a huge premium for crappy circulated coins, you can pay even higher for "proof" stuff that is newer-minted but not in their original sets but still hold original weight, or you can pay twice as much or more for unworn old crap.

    It's all the paper game that's causing this. The DJIA goes up and shines for a day, people dump their ETFs which aren't attached to the physical good, the price of the physical good plummets, and demand skyrockets over a fake panic enabling the dealers to gouge the prices.

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    Welcome to the world.

    Of a fiat money system coming unglued.

    It's just a matter of history repeating itself.

    hey Ron_is_for_real and

    hey Ron_is_for_real and TXredrump..... what do you fools think about this? can't find 90%? and if you can the premiums are way up? yea the price is going down down down and for a long time to come... morons...

    Can you compose a thought

    Can you compose a thought into a sentence legibly?

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    You mean Coherently

    Legibly refers the writing itself being readable. Coherently means whether what is written is understandable. Am just saying, as long as we choose to criticize.

    Readable could mean you don't

    Readable could mean you don't recognize the letters, or it could mean you don't recognize any kind of normal sentence structure.

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