I noticed this morning that the spot price on silver is back under $27 to start the day off. The local hole in the wall coin shop has a bin of peace dollars (common dates, no mint marks) that are in decent shape (no real deterioration or significant rub off) that they sell for $28 a piece. I've done trades with them in the past and he is willing to come down a bit on most things, but I was thinking about trying to go pick up some Peace Dollars if i can get them below spot, or do you guys think that it is a waste? It would be for the silver content only since I know the coins won't pick up much value numismically.
IMO below melt is gravy no matter what type of US coin it is. I thought peace dollars went for a bit of a premium? I haven't picked any up yet myself.
Like all coins the dates and mm determine the premium. These are at best AU, most are lower, all the way down to AG-G, but with the way the silver market has been I'll probably go in and try to deal with him in even numbers, like 4 for $100 or something like that. He sells similar condition Morgans for $30 typically too, so i'll definately be looking at those as well.
It can't hurt to ask (politely of course) and as a rule cash still talks. But a buck over melt doesn't leave him much room so consider that too.
I'm on the side of: if you are just holding until resale, ASEs have a somewhat tighter spread and wider buyer market. But if you just like her, stack 'em!
I would drain my bank account to buy peace dollars at $28 a pop. I can't find them for anywhere close to that around where I live. Buy, buy, buy. Especially those ones in better condition.
I wanted to sell a dozen of them a few months ago (mostly XF) to private folks, but no bites at $28 plus shipping. I ended up selling to LCS for $25.
