1st time looking at junk for AG holdings a Q

Discussion in 'Bullion Investing' started by 9guns, Jul 24, 2010.

  1. 9guns

    9guns Junior Member

    so im looking to pick up 100 morgans and a couple 100 halves, just wondering what a good price for them are. should i be paying melt, above melt, *X face - is buying below melt obtainable? obviously i want to buy as cheaply as possible.
     
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  3. bigjpst

    bigjpst Well-Known Member

    http://www.coinflation.com/coins/silver_coin_calculator.html
    This site is great for finding out exactly what the melt is for any number of coins...as far as buying below melt...you may get lucky with private party sellers, but your probably better just trying to get for melt or within a couple percent..
     
  4. 9guns

    9guns Junior Member

    right now im looking at 200 '64 kennedys for $6.66 a pop, i guess thats a pull the trigger price?
     
  5. bigjpst

    bigjpst Well-Known Member

    melt is $6.55 at $18.11 silver spot....Last I checked my local dealer was selling 15xface, =$7.50per half. Ultimately you have to decide what you are willing to pay.
     
  6. cman

    cman Junior Member

    My dealer only charges $6.50 for 90%ers. He is the closest to spot from anyone ive ever seen.
     
  7. bigjpst

    bigjpst Well-Known Member

    that is a good price.....I'm guessing he has a really low buy price to make up for it?
    I asked a different dealer in my area what his buy/sell prices were...he was buying at 7x face so that he could sell close to spot. needless to say I stopped dealing with them.
     
  8. cman

    cman Junior Member

    I have never asked him whatt he buys at but i buy whatever i can for what he sells at
     
  9. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    I've got to tell you that if you look at the classifeds here you can buy a whole lot of halves, Walkers and Franklins for just under spot. You won't need to use bing or mr rebates either. I'll make it real easy for you. Tell Henry he owes me, or not....I bought 30 Walkers and they are all g to vf coins in my opinion...
     
  10. 9guns

    9guns Junior Member

    i bought my first lot of junk last night off the bay, picked up 80 franklin halves for $6.30 a pop
     
  11. SilverSurfer

    SilverSurfer Whack Job

    Excellent price. I just paid $6.70 from a local dealer. You actually bought for under spot.
     
  12. 9guns

    9guns Junior Member

    i think now that im over my initial goal for holding i will be looking for junk.
     
  13. SilverSurfer

    SilverSurfer Whack Job

    Be cautious. You never want to be 100% vested. Say the price of silver drops $3 an ounce on Monday. Those who are less than 100% vested will be happy at the low price they can run out and get junk silver at. If you are 100% invested, you'll just be kicking yourself for spending everything and not having any money available to purchase at the new lower price.
     
  14. 9guns

    9guns Junior Member

    it may not hit that low again, ive been doing some chart reading hillbilly style and i think its going higher. im thinking were on the ride now to take out the 19.whatever.
     
  15. SilverSurfer

    SilverSurfer Whack Job

    PMs can tank along with the general stock market. Right now we are on the right shoulder of a head and shoulders formation. After the right shoulder plays out, the market more than likely will drop (this is just me speculating). Pull up a years long plot of the Dow or S&P 500 and you'll see the head, it is quite evident. How broad the shoulders are is anyone's guess. If the right shoulder resembles anything like the left shoulder, we should see some major movement by the middle of October. Up or down........who knows by then, most economists believe it is down with all the talk of deflation as of recently.
     
  16. 9guns

    9guns Junior Member

    i just picked up 100 '64 kennedys for $6.27 a pop.

    [​IMG]
     
  17. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    Nice halves.
    Keep looking you'll fine 100 more :D
     
  18. Yacorie

    Yacorie Junior Member

    Another suggestion is to find someone local (non-dealer) who wants to sell some. For instance, my buddy in Florida is trying to sell off the silver halves he pulled form circulation. Most of them are 40% which might not be ideal for holding silver, but there are 90% coins also. Dealers in the area aren't willing to give more than about 5.25 per coin. If you can find someone like him who is trying to sell, you would both make out better in the end.

    Just another option
     
  19. vnickels

    vnickels Matt Draiss Numismatics & Galleries

    See if your dealer will give you a deal if you buy in bulk. Like less than melt but that probably won't happen.
     
  20. stealer

    stealer Roller of Coins

    Very nice! I just sold some '64's for $6.25 each, albeit there were only 6 :D
     
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