What would you do? Dilemma about selling silver to buy some key dates?

So I keep seeing the silver value go up and up. I know the folks on ebay will buy everything silver, all day long. So my dilemma is this: Do I sell duplicate silver coins I have to fund the purchase of the key dates I am missing.

For example, I have hundreds of duplicate mercury dimes. At the same time, I am missing 5 of the semi and key dates. I am starting to think I should sell off the duplicates so I can purchase some of these key dates.

But what I wonder is, will the values of the key dates rise at the same rate as the value of silver? If I sell $200 worth of silver dimes and buy a $200 key date, might I be losing out because of the the increasing value of silver? How long should I hold out?

What are your opinions and what would you personally do?

 

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If you are a collector, sell and buy the key dates.

If you are an investor, sell and diversify your portfolio.

 

Ditto.

 

Would you be happy with the price you can get today? If so, sell, and then don't look back.

 

Personally I won't sell any of my silver except for my 40% halves. I think silver has a long way to go. I am expecting a dollar collapse and I know my junk silver will get me through it.

 

You must have a LOT of junk silver!

 

@ $200 you're not going to get much of a key date coin -- certainly not one that I would predict stronger-than-bullion-value-appreciation. I would hold where you are.

What do you WANT to do?

That's probably what you should do.

 

Most key dates are at a value far beyond their bullion melt value and so the changes in prices of metals have very little to do with the value of the actual coin.

For example: An 1885-CC Morgan will not fluctuate in value with the price of silver because it is a $500 coin.

If you feel that proportionally you will get closer to the money that you need for the key dates because the coins that you own fluctuate with silver, then by all means, sell them and buy your key dates and get away from the bullion value and more towards the coin value.

But personally, I think that it has been shown over the last year or so that holding silver has gained in value while key dates have remained stable or even dropped.

as was said before, if you're a collector, then get the key dates, if you're a value seeker, then diversify.

 

As a collector, I would sell the duplicates and buy a key date. TC

 

Thanks for the responses everyone. I think I will hold onto the silver at least until it levels out for a period of time and hopefully the price of silver will be high enough that I can get a better grade key date.

 

until it levels out?

holding it could (not will, but could) cost you big if it's a bubble and it bursts

 

Whats your thought on the rise in silver? Are you sensing a burst in the bubble soon?

 

you never know that's the problem, but once it does burst, there's no way of getting it back so in order to come out a winner at some point while it's still going up you're going to have to sell it and hope that you sold it at the highest price that you could get

 

Well i decided to play it safe...sorta. I got rid of my 40% silver halves, and 'well circulated' and literally polished walking liberties, absolute terribly cleaned morgans, quarters and roosevelts. I decided to basically upgrade my short set of walkers for now with better grade items. I sold most of the stuff on craigslist so there were no fees, and people pay melt all day long. I then purchased Walking liberties that are in much better grade than what i had, for only a couple bucks over melt for each.
Heres some walkers I sold at melt:


And here are a few of the ones I have purchased at a couple bucks above melt value so far:





I'm feeling pretty good about it! Didn't really take any risk.

 

I always look at it like this....the rise in key coin prices has always outperformed the rise in metal prices, even in today's environment, so you're always coming out way ahead if you get the keys. You may think wow, I made 40% on this junk silver, but then you look at the 16D merc dime you passed up and realized in the same time you caould have made 60% or more on the same money. Keys will always go up in value, bullion will always fluctuate, and usually not to your advantage.
Guy

 

Well said coleguy. Thats kind of what I was looking for. I am curious to know how the key dates value has risen over the years in relation to metal values. All of my poor danscos are missing those 1 or 2 or 3 coins I am no doubt, a collector over a bullion investor. So it may be time to let go of some of the nicer silver I have to key some key dates. Do I really need 100 1964 uncirculated kennedys? That is a perfect example of a coin that will not be worth any more than melt in my lifetime.

Key date here we come!

 

Well I don't have a truckload, but I do have quite a bit. A lot of it came from metal detecting (my dad), those framed type sets with polished coins and a ton of silver kennedys, also from my dad. When he handed over his collection to me (about a year ago), I officially became a collector. I went crazy and purchased every silver coin at my local pawn shop. Every time more coins came out of pawn, the shop would call me. They always sold it to me at melt, didn't matter what coin, date or mint mark. So, I accumulated a lot of 'junk' and a lot of very nice coins to boot. Borderline hoarding!

 

I'd check your local coin shop to see what they pay for silver before trying Ebay. Plus it's always a lot easier I think.

 

I sell it on craigslist. People pay melt value. no fees!

 

Really?

Please tell me which key date coin has risen more than gold (or silver for that matter) since 2005.