Anybody else remember the great silver boom of 1979-1980?

I was pretty young but and was just buying coins for my collection when people started bringing me gobs of 90% at those astronomical prices.

Since I hadn't any experience with the market and selling, I ended up getting caught when the market bombed.

I learned a lot in that crash.

 

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The mania didn't last too long, but the two LCSs in town did a lot of business during that time. Traveling outfits ran ads in the local papers and set up shop at motels where they paid below market price for PMs. Even so, the lines were long most of the day. People brought in the family silverware and anything else they could sell. A friend owned one of the two LCS in town and let me pick through his inventory before it was shipped out to the refiner. When the price topped $20 I stopped buying from him because I thought the price had peaked. As usual I was wrong but I did get some nice items:

 

I was too busy being an enlisted person in the Navy in a pretty remote locale and living on enlisted pay. Regularly being broke a day or so before paydays didn't help. The silver 'boom' passed me by then.

 

A fellow sailor. My enlistment ended in 1972 so you must be 7-10 years younger than me.

 

I was still in, like, 9th grade then.

 

I served 1975-1977 and 1978-1983. Split tour, the 7 months of civilian life convinced me that living in the service was so much easier.

 

Love reading these stories. Thanks for sharing!

 

I sold all my common date worn out silver, didn't even blink. Spent it all on booze and wild women and I'd do it again.

 

In N.E. Tenn. the place to get top dollar for bullion related
items was Skyland Coin in Bristol Va. Bought and sold many
items with them. Over a few years in the 1980-1982 I bought
from them and others BU rolls of dimes,quarters,halves. Still
have them in the SDBs. Duwayne at Skyland along with Bob
were always friendly and honest. Sold them $150.00 in circ.
dimes and the next time I saw them they gave an extra $20
because they got more from their buyer. That's CLASS. For
me good memories.

 

Not sure if it’s the same owners but that shops still there under the same name.

 

They are still there, but have moved across the street.
Duwayne's wife past away a few years ago. She always
had a smile on her face.

 

I was just a few years into collecting cheap stuff as a kid and was pretty much priced out of anything silver. I probably could have sold the little I had and bought other non-silver stuff, but turning profits wasn't on my mind at that time as much as enjoying the coins was.

 

Sure do