40% Kennedy Halves? What to do?

Hey,
I found about 70 (40%) silver kennedys last week.
I'm trying to figure out what to do with them all.
I want to keep some for me, but I don't know what to do with the others?
Should I sell them? My local coin shop doesn't want to pay very much per coin.
Should I just keep them? Or sell them?
Thanks in advance,
SM

 

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Roll 'em up and put them on eBay.

 

I have to agree with sjn on this one. Right now, rolls of 40% Kennedy's are selling for about 17.00 a piece. So figure 2.00 in ebay fees and 10.00 of face value, and you profit about 5.00 a roll. Its really not much money, but looking through rolls is a ton of fun. So why not make a few bucks for doing something that you enjoy?

 

Rolls are $17? Isn't that below the value of the silver content, or about $1 per coin?

 

I think the most you'll be able to profit is 0.25 each. I wouldn't hold onto them. Their not worth much now and they'll always have a subpar value to 90% silver and there's tons of that material out there.

 

I'd keep them. Maybe I'm a just another magpie, but a $5 profit per roll just doesn't seem worth it to me. Perhaps in a few years that profit margin will go up? If not, and you still only get about $5 per roll when you sell, what have you lost?

I separate my finds by year and mint mark, then roll them up (I actually use tubes). I've kept accurate statictics in a log book on what I've searched and what I've found. I'm coming up on a calendar year and it will be fun to go back and run the numbers once 12 months have lapsed.

 

Cloudsweeper is right. Silver is hovering around 7.00 per ounce Troy. Each 40% Kennedy has .16 Troy ounces of silver. So 20 Halves times .16 ounces per half is 3.2 ounces of silver times 7.00 per ounce $22.40. So, on ebay, silver is selling for less than its current market value. But you have to think of it this way, if you took the same roll to a dealer, he too would buy for under the current melt value. So, you'll never actually get "melt value" for your silver coinage.

 

I sold five rolls of them about four months ago and got about $18 dollars a roll for them. If you charge enough for shipping to cover your fees then an eight dollar proffit should be worth it.

I only keep the very best ones and sell the rest.

 

Can the 40% rolls actually be purchased for $17-18??? Would this be on Ebay or in local coin shops??? This is an amazing bargain if true; something underappreciated and underpriced at the present time with the potential to increase substantially on a percentage basis in the future. I think I'll hunt some down and put them away for future trade in; I'm not in a big hurry. Silver is underpriced anyway at the present time.

Thanks for the idea!

 

I sold mine on Ebay.

 

How would you go about melting them down and getting the silver into bar form? How much would it be to do that process?

 

I don't think anyone would want to remove the silver from coins except maybe Kodak and a few electrical contractors, and they would obviously have to pay for the smelting process if they wanted to use coins for some reason as their silver source. Otherwise, silver and gold have normally and historically circulated as money at the value of the bullion content. The alloy mixed with it to harden the metal is considered an advantage, and having the silver stamped into coin form is an assurance to the user of the precious metal content. Silver in the form of coins is really a more superior form of the metal than a bar.

So I guess this is my usual long-winded way of saying it doesn't matter. Silver coins [whether 90% or 40%] shouldn't change hands at less than bullion value.

 

i just bought a roll of 67 supposed to be BU Kennedys for $16 on ebay. who's were they? lost on a bid for two rolls of 64's, they went for $115....

 

GDJMSP,

This is exactly the type of situation I'm looking for to profit from. It's a case where the full time coin "experts" and dealers might not really understand the relationship between their hobby/business and the investment world, so they might be mispricing their inventory. This isn't entirely clear to me yet because nobody has stated that dealers sell the coins below spot value, only that they buy them back below spot. I haven't yet seen any circumstance where someone like me can buy 40% halves below spot, but I'm looking. I'm not concerned that the coins aren't immediately marketable to dealers or others for full bullion value or more. This will come in time. I'm looking for the chance to buy silver below spot price. The profit margin is fairly small [for now] but when combined with the current low price of silver, this is a very low risk opportunity and the closest thing to a sure thing that is available in the coin world -- an asset selling below intrinsic value.

I guess I'd better get on Ebay before Crazy Larry buys up all the bargains! $16 is a good price assuming the shipping is low. $115 is more typical and shows how the market will pay a premium over spot for 90% coins but discounts 40% coins. So the bargains are in the 40% area. Patience might be required, but sooner or later they will sell for a small premium also. All in my opinion of course.

 

50% profit and a couple weeks turnaround. Sell them and keep looking for more.

 

I think i would keep a set in nicer condition and sell the rest.

 

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