Cleaned Silver Dollars

Good luck on buying raw for melt prices - there are still a lot of nice morgans out there that are not graded. Stick to graded coins only if you have doubts. Oh - and that does not mean you will not have a cleaned coined. I have seen several in the top 3 holders that I would say qualified for body-bagging. I would just say it is a "safer" bet. So learn all you can.

 

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I agree on the graded coins having a slight chance of being over graded, as far as melt goes you can find morgans and other silver coins that others overlook at fair prices. So as an example with silver @ 13.11 an ounce you would not want to buy a morgan or peace dollar for more then 12.00. If you spend over that you will have to hold on to it for a bit to make a profit! Again it depends on what your investment needs or plans on are!

 

Now your post makes sense - no offense intended. I have no investment needs or plans with coins. I just like collecting. Of course I would like my heirs to make some money when I do die, but not really worried about it. So I would not be looking at anything only worth melt - well maybe not, maybe if I do some modern silver. As it stands I will stick to the older coinage like my wee busties.

 

I do not know how you personally feel about cleaned coins, I on the other hand find it risky at best to buy a Walking Liberty Half that is raw on line! It's easy for the picture to look great or even worse the seller uses a stock photo! To top it off you spend more then you should because if the picture and the coin are the same it is worth it! Then once in hand you discover the bitter truth! Through pay pal it is true you have a recourse, but until it is resolved that amount of money is tied up! So regardless not much has changed "buyer beware "

 

I also wanted to say that I often buy single coins for melt then once I have reached a certain goal will sell them in bulk! This is like a predetermined savings plan and it helps me further support my coin buying habits! Sorry if this got off topic, but thought I would explain my thought process further, thanks for your patience!

 

My dealer (he he) has been buying tons. Borrowing to buy more. Rolls and rolls of unc Morgan and Peace dollars. Fractional gold. But mostly tons of silver stuff. He bought 10 unopened 1923 Peace dollar rolls for like $575 a pop. He's an honest guy, but that price just seems too low. Less than $30 a coin for a roll still in the original paper?

Right now he has so much inventory that he is dying for cash (Anyone looking to buy?). From his POV, right now more people are liquidating their holdings than accumulating. The economy is scary. People are holding their cash.

To me, if you have some $$, now is an excellent time to cherry pick from what people are dumping on dealers to raise cash. But then again, I believe silver and gold are getting ready to skyrocket with the global financial apparatus in one hell of a vise, but what do I know?

I also believe that if/when the above prediction regarding gold and silver comes to pass...and when people realize that the markets are NOT bouncing for a long time - going sideways at best...the collecting of coins, which will start with the hoarding of bullion coins like the St Gaudens, will just naturally re-emerge as a reliable (key word) exchange for protecting one's wealth. Whether that turns out to be true in 5 or 10 years will matter in, well, 5 or 10 years.

IMHO of course