Alright I'm a silver noob, but I figure everyone has to start somewhere- so why not do it when silver is at its highest... lol what can I say, I'm a risk taker. You should see all my penny stocks....... I recently bought 5 troy ounces of junk silver online, specifically Mercury/Roosevelt dimes. I paid $141 dollars shipped. What do you think about this price? Is this reasonable? I have a lot of free time with my job because I stay in hotels M-F. I've been thinking of checking the local banks where I stay to see if I can get a couple boxes of half dollars to cure my boredom. What do you tell them you are getting them for? Do you just tell them you are looking for silver? haha I'm a little nervous that I am going to buy into silver at $30 when everyone else who got in at <$10 is starting to sell. I wish I knew what the chances of silver dropping are and what effects the whole JPMorgan issue will have on prices. TIA :hail:
Decent price on the dimes, especially if silver holds or continues to move north. Don't mention silver to the tellers, just mention you collect and/or use them as gifts for people and need to restock from time to time. Boxes really aren't that productive and usually not very easy to find either. I'd just hit up several banks and ask for their halves they have on hand... loose, in trays, and rolled in the vault. They're usually happy to be rid of them.
I ask, "Do you have any half dollars you'd like to get rid of?" Most tellers jump at the chance because they have to count them every day and getting rid of them is something they like.
Not counting your time or your gas silver would have to drop to $3.38 for you to lose on 40% and $1.38 to lose on 90% . I used to be a big time box searcher but as the price has risen I've found fewer and fewer. I just buy loose now and spend what I don't keep.
Good to know, thanks for the info. Maybe I'll avoid the boxes than. Can you explain to me what you mean by: silver would have to drop to $3.38 for you to lose on 40% and $1.38 to lose on 90% I'm not following. TIA :hail:
If silver goes below $3.38, the value of silver in a 40% coin drops below the coin's face value. If silver goes below $1.38, the value of silver in a 90% coin drops below the coin's face value. Not very likely, and if it does happen, we'll all be much more interested in warm caves than silver coinage.
