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