Cull Silver-Am I Short Changing Myself?

Discussion in 'Bullion Investing' started by Randy Abercrombie, Dec 2, 2018.

  1. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Just met with the doctor. Looks like he tore up his knee. We will get him patched up. Old boy has sure been thru it lately. Thanks for the sentiment.
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  3. coinsareus10

    coinsareus10 Well-Known Member

    How old is the dog?......AC, MC,LC. Sorry, PC acting up:(
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Thirteen year old beagle. The knee ligament is torn up. Looks like another surgery for the old fella.
  5. coinsareus10

    coinsareus10 Well-Known Member

    Good luck to both of you.
    Randy Abercrombie likes this.
  6. medoraman

    medoraman Supporter! Supporter

    To OP, silver dollars really aren't "junk silver". They haven't been for a few decades now. They always sell on a premium since people like large silver coins and they are popular. I cannot see how the slight weight loss from circulation will really ever be a factor. In the end, it will always be more about that they ARE silver dollars.

    Same is not true of other denominations of course. I saw worn barbers sell at discounts to 1964 quarters the last time silver spiked, since everyone only cared about net weight. Even then, silver dollars, (any silver dollar), sold at a premium to their theoretical max bullion weight.
    Randy Abercrombie and -jeffB like this.
  7. CasualAg$

    CasualAg$ Corvid Minions Collecting

    My experience has been the same. I watched Morgans and Peace dollars on eBay, recently. None sold near their silver value, regardless of condition. I estimated weight loss, depending on perceived grade, as 1-6% - I weighed my own Ms and Ps to validate. “Actual” silver content had little effect on auction prices realized. I made bids that covered the silver value and didn’t have to buy a single coin. These were all coins with little to no numismatic value, I.e. $0.99 starting bid, no reserve, reasonable shipping.

    At a recent coin show Ms that I would consider “junk” were selling at about 2 1/2 the price of their silver value. Those girls are popular because of their look and feel, that seems to be what one pays for.
    Randy Abercrombie likes this.
  8. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Well since it is my thread I figure I can hijack it. And I did somewhat leave my dogs injuries up in the air so here is his update.....He had surgery Wednesday to repair torn ligaments in his knee. They replaced the ligaments with what looks like nylon fishing line. Amazing stuff to me. He will be in a cast for four weeks and is not minding the attention at all. He goes to work with me a resides under my desk so I can keep an eye on him. And based on the photo below, I would say he is feeling pretty well.

  9. Clawcoins

    Clawcoins Well-Known Member

    in his other hand he has his metal detector
    Randy Abercrombie likes this.
  10. CasualAg$

    CasualAg$ Corvid Minions Collecting

    I wish I could sleep that well. Not in that position, though.
    Randy Abercrombie likes this.
  11. myownprivy

    myownprivy Well-Known Member

    Yes, buying culls is fine, but do so by actual weight, not as an arbitrary discount a dealer may apply.

    Sometimes the hole can simply displace the metal, other times it has actually been punched out. Big difference!

    However, speaking personally, I never buy culls because of the consistency I desire when assembling rolls of 90% silver.

    Regarding what to pay for junk in general (NOT culls), use .715 x face to calculate silver content. This is a slight drop off from the mint state silver content of .7234 to account for average wear.

    Silver dollars are a whole different ball game with a higher silver content. This does not apply.
    Seattlite86 likes this.
  12. Collecting Nut

    Collecting Nut Borderline Hoarder

    Feeling pretty well? You say! Randy, your dog looks drugged out! Hehe. He looks pretty good for surgery and I hope I look half that good next week.
    Randy Abercrombie likes this.
  13. -jeffB

    -jeffB Greshams LEO Supporter

    Yeah, it looks like he wasn't suffering. He certainly wasn't suffering from modesty. :rolleyes:
  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    Not at all! :)
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