Junk Silver Question - Seeking Input ...

Discussion in 'Bullion Investing' started by susannyny, Jun 13, 2012.

  1. susannyny

    susannyny Member

    While I've purchased some "junk" silver in the past, it's typically been one-off pieces.

    A small pawn broker in my neighborhood has 39 half dollars (Walkers, Franklin's and 1964 Kennedy's) that he will sell me for $10.25/ea. It's under the going rate so I don't know why I'm hesitating. Guess it's just spending $400 in one lump sum.

    I'm probably over thinking this. He's holding them for me until Close Of Business tomorrow.

    Thoughts anyone?
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  3. beachbum99

    beachbum99 Member

    Make sure they are real. do you have a scale to measure them?

    Just get 'em! :)
  4. susannyny

    susannyny Member

    I didn't weigh them, but I'm 99.999% certain they're real. I've known this guy for a long time and we've done other business together. But I like your go get'em attitude :) I know this is a good deal. No clue why I'm waffling.
  5. beachbum99

    beachbum99 Member

    Okie dokie! Hehe

    Go get 'em and be happy! Keep stacking!
  6. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    The price quoted is just under spot for junk. Not sure why you're hesitating?
  7. susannyny

    susannyny Member

    I'm going to pull the trigger on it. My only hesitation is putting out $400 right now, but it's a good price so I'm going to have to do it.
  8. akajcw95

    akajcw95 Member

    It's worth it if you want silver badly.. The only way you can get silver under that price is if it goes down (obviously) or if you are a dealer. I would say purchase it though because silver might go up soon :)
  9. vdbpenny1995

    vdbpenny1995 Well-Known Member

    I wouldn't buy it if your debating. $10.25 isn't a amazing deal for average 90% halves. Shop around more and get what you really like.
  10. That is a definite buy unless you have you eye on something else. :smile TC
  11. susannyny

    susannyny Member

    Thanks for the feeback all. I really do appreciate it.

    @topcatcoin, there's nothing else I have my eye one .... just adding to my silver hoard.

    @vdbpenny199, that's what I've been wondering. He's basically offering me the coins at ~ 1.5% below spot. What are you able to acquire junk halves for, if you don't mind my asking?
  12. jcakcoin

    jcakcoin New Member

    Go for it, especially if some are MS
  13. susannyny

    susannyny Member

    They're not MS @jcakcoin. They're really just junk silver.
  14. beachbum99

    beachbum99 Member

    I got four silver halves at Long Beach for $40! Hehe
  15. TheNoost

    TheNoost huldufolk

    Bring a scale, I just got burned buying junk under spot. It passed magnet test, but were all light and not silver.
  16. susannyny

    susannyny Member

    They should weigh 12.5 grams, correct? And how do you account for wear? Some of the Walkers are very worn ... would that lower their overall weight?

    Appreciate your feedback on this!
  17. Dennis68

    Dennis68 Member

    I would go for it. Anytime you can get pm's under spot,do it!
  18. vdbpenny1995

    vdbpenny1995 Well-Known Member

    Not a problem. I can get halves for spot, but they are MS. I bought 2 rolls of BU franklins for $10.10 each which was spot at the time. If you just want to add silver, go for it, but don't buy them because you think you'll never get a deal like that one. Also shop at flea markets if you can. I see lots of people trying to get $10 each for just normal ones.
  19. susannyny

    susannyny Member

    Thanks very much for that info vdbpenny1995. I really do appreciate it!
  20. Guano

    Guano New Member

    My turd of a LCS hasn't changed prices at all for over nine months, silver has been as high as $38 and as low as $26 and they keep it at 30x face, I haven't bought a single coin of junk and from the looks of it either has anyone else. I did get $1.85 face in a mint set from them for only $35. I think it was the 2003 S set with five quarters, one dime and one .50cent piece. It sucks not having a local place to buy $50-$100 in silver per week, now I have to save and get the wife's permission and buy online. But when you buy online you can get better stuff like the 10 ounce Pamp I just bought.
  21. Lon Chaney

    Lon Chaney Well-Known Member

    Buy half of them, or as many as you feel comfortable buying. Sure, the sell price is lower than spot, but $400 is still a good chunk of cash. But a portion of them that you can afford, I'm sure they'll part with part of their inventory. It is a pawn shop, after all.
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