The Correct Way To Buy Silver (imo)

I don't buy silver bars or rounds because 1) they just don't interest me, and 2) they don't have any numismatic value.

I just bought an unopened US Mint box of fifty (50) unopened 1962 proof sets for $1200 (that's $24/set). That may seem like a high price to pay, but with silver near $31/Oz, that's just a 20% premium over the bullion price...and that doesn't count the nickels and cents.

This is one of those items whose numismatic value should surpass its bullion value over the next 20 years. By 2062...or 2112, what do you think an unopened/unsearched US Mint box of 1962 proof sets will be worth? (...not that I'll be here to see it)

 

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I won't care what 1962 proof sets will be worth in 2112, because Marty Mcfly refused to lend me the time machine

 

30 viable corn seeds, 2 medium fish hook, 1 metal arrowhead and 2 purple rocks.

 

Or 3-12ga defender rounds.

 

I see... many dollar signs...

 

Where'd you get these, if I may ask? Thanks.

 

I found these sets on eBay, but I've found lots like this (and bigger) in some unusual venues...estate sales, mostly. I find that the Seller isn't a coin specialist and doesn't want to waste time selling items one at a time. They ask a ridiculous price for the lot and, after the lot doesn't sell, I make a fair offer and it's usually accepted.

 

It will probably turn out to be a good purchase.

 

I think it is a great buy. I could not stand leaving them unopened though. I would be too tempted to look for high grade cameos and DDO Franklins. You may be able to make a profit sooner than you think. TC

 

I just got an offer to buy a lot of twenty-five (25) unopened 1964 Proof sets for $24/set ($600). Should I go for it? :scratch: (no Frankies)

 

I would stick to $500 for the Kennedy sets, & then open them!

 

Dunno if they'll go for $500...that's just $25 over melt! (25 x 0.615 = 15.375 x $30.90 = $475)

I wouldn't go for it.

 

Sold in bulk like that, that's about what they're worth. Do you know what the mintages are on 64 coins, or the sheer number of sets were saved due to being the last year of silver coin? $500 is the deal(+ shipping of course)

 

I was going to say buy them, and then break them up and sell the pennies and nickels. I thought you'd get a lot closer to spot for the silver that way. But then I checked FeeBay. Why no love for 1964 proof nickels and pennies? Looks like you'd be lucky to net $20 for them after fees and shipping.

 

I was hoping there might be some Accented Hair varieties in the lot.

 

Yep...no love now, but I'm keeping these for family. Love may increase in 30-40 years.

 

High grade accented hair variety will give you a nice profit for sure. I would want to be confident that they had not been searched. TC

 

Inside unopened box shipped from US Mint...tough to fake that.

 

That's good enough for me. Here is some incentive for you:

http://www.pcgscoinfacts.com/CoinDetail.aspx?s=96801&redir=t

TC

 

Do it and see if you can't find any Accented Hair kennedy halves.