What is the best way you have found to accumulate junk silver below spot?

I personally watch the classifieds and try to be the first to buy lots that are marked below. If someone has a lot right around spot I will offer between 95 and 97% of spot. I want to give them a fair deal but want to get a fair deal myself. The best deal I ever got was about 18% below spot. That was their ask price.

I have read of some collectors consistently buying their junk silver as low as 20% off of spot. How are you doing this on a consistent basis? I buy silver for myself and rarely if ever sell it. If I sell one it is usually to buy another.

 

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If you're buying and think silver is going to go up anyways. Just buy it at spot, then wait until the price goes up, then you have the silver for under the new spot price Much much easier that way!!

 

I live in a town with alot of antique stores, alot of which are set up where people can rent out a booth or display case and then it is up to the store's staff to sell items. At these, there are usually 1 or 2 cases with coins. I have been able to find junk at 25-30% below spot because these dealers are just too lay to go in and change the prices on their coins.

 

The only time I got lucky is when I posted craigslist adds to major citys that were having financial trouble. I got a lot of hits from detroit, and actually found somone that uses paypal. After talking on the phone we negotiated a deal on some half barbers, low grade morgans, and old quarters. I was going to continue doing this, but I got a message from somone asking for my metals dealers license #. It was either another zealous dealer, a police officer, or some authority. I didn't even know I had to have a dealers license. Anyhow I got scared and stopped that tactic.

 

JCB, I don't think you need a dealers license to become a personal collector and put want ads up, I think they were just trying to scare you off the 'list.
If you really want to find some cheap silver, I would do some roll searching and retirement home care

I once found a 1959 quarter at walmart too.

 

my uncle goes to auctions and buys junk jewelry lots and sorts through it for silver and gold. youd be shocked to see how much you find. it isnt coins but it is way below melt

 

Roll searching. Heavily.

 

Thanks for all the responses everyone! I do a lot of roll searching and have a good system down so it isn't to crazy. It has been good so far. Been doing it about 2 1/2 months.

I will try to hit up some antique shops and see what that turns up.

 

When I'm at local auctions (not coin auctions), I will look over the bags of foreign coins with some interest. You would be surprised at the amount of silver coins in some of them. I've gotten away like a bandit a few times.

 

"What is the best way you have found to accumulate junk silver below spot?"

Easy:

Beg.