I want to make another purchase and need your advice...

I currently have the following:

20 - 1 oz Morgan bars
5 - 10 oz Sunshine Minting Bars
40 - American Silver Eagles
5 - 10 oz Englehard Loaf Bars

I think I want to get some junk silver also and would love to hear your feedback on these choices:

1) Roll of walking liberties (20) - $153.00
2) Roll of Franklin Halves (20) - $154.00
3) Roll of 1964 Kennedy Halves (20) - $151.00
4) Roll of 1964 Kennedy Halves (uncirculated) - $165.00
5) Roll of 50 count circulated mercury dimes - $83.00

It says these are all 90% silver

 

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Half dollars have 0.3617 troy ounces of silver each, so a roll is 7.23 ounces, which for 153 gives a price of $21.16 per ounce. If it was junk silver you were after I would by the circulated kennedy halves as they are the cheapest.

For the dimes, 50 is around 3.34 ounces, so your price per ounce is $24.50.
Just saw this on ebay, 20 64's for 144:

http://cgi.ebay.com/Uncirulated-lot...em&pt=Coins_US_Individual&hash=item2ead0f9fc4

 

With regards to junk silver, I would go with the cheapest per ounce you can get. However, some may argue to go with a series that was only issued in silver (Franklins, Walkers, etc) so there is no confusion in the future. TC

 

Might I suggest another dealer.....one that sells closer to spot. It shouldn't be hard to find someone willing to sell silver junk $10 face for $140.

Try this trick.....ask the dealer what he is paying to buy $10 face junk silver. Now consider his sell price. Is it reasonable? Because when you go to sell, that is the price he is going to give you, percentage wise.

 

I agree. All of the prices are high.

 

I like the comment on only going after coins that were only issued in silver, that is a good argument but ...

Roll search for Halves! Pay face value. I found two Franklins today.

 

Are you sure you want to go the pre 64 route? Sometimes focus is a good thing, and unless you are buying them at less of a premium of the ASE's, I don't know how good of an idea that is. I'm not an expert, but I think the current issues at $2 over spot is not a bad idea, at all....just sayin!!!

 

Thanks everyone for the feedback. You are all right after doing a little research it seems like the pricing is a little high. I will keep looking to see what I find.

In the meantime I do have another question. I think I got my brother in law hooked on this silver concept. Now I would never "sell" anyone on the idea of investing in silver because it must be right for them regardless of what I say.

However, he is really in love with Monarch Precious Metals. He likes the look of the bars and calls them "old fashioned".

He will be joining the forum this week but I will jump start it for him.

What do you think about Monarch? He likes the odd sizes such as 2 & 3 ounce bars along with 1 oz bags of those nuggets.

I just fear he may not be able to sell them because it's not a recognizable name and I know they buy them back at 99% of spot but what if they go under?

 

Monarch is a fairly new company with the normal risks associated with purchasing silver rounds and bars instead of government issued bullion.

You are also correct that if this is for investment purposes, more attention should be paid to buying what can be easily sold rather than buying what you like.

 

Provident Metals is one I have been very pleased with their service buying the scrap silver, they sell for as little as .35 over spot. In increments of $1.00 so you could buy just a little or a lot.

 

That's correct. 90% silver in all of those rolls you listed.

 

If this is a local dealer you are trying to buy from. Let them know of the price being slightly high. Make an offer. See if they are willing to offer $10 for about $142. Many are willing if you ask. It helps to call first and let them know how much you want.