LCS Pickup - I think I Did Pretty Good - Not a Bad Haul

Discussion in 'US Coins Forum' started by Histman, Jun 29, 2022.

  1. Histman

    Histman Too Many Coins, Not Enough Time!

    Howdy Members!

    I was at my local coin shop (LCS) looking for Barber Dimes and Standing Liberty Quarters. I was just looking for book fillers with decent dates. They had none available. I haven't been able to find any at a decent price. I told the lady that was waiting on me "I noticed you don't have any junk silver (90%) in the display case." They usually do, but times are tough. Out of curiosity, I asked her how much they would be selling them (in bulk) if they had any. She quoted me $18.83 x face. She said, "we have a box of loose stuff in the back, but no Barbers and SLQ." I said thanks and left. While sitting in my chair at home a bell went off in my head ($18.83 x face)?? I sat there for twenty minutes and then told myself that can't be right and went back down to the LCS. Yep, it was right. I took $42.10 in "junk" at $18.83 x face. I think I did pretty dang good since I can't find that on eBay anywhere near that price. What do you think?

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  3. -jeffB

    -jeffB Greshams LEO Supporter

    Current melt value for 90% is 15.025x face value. People ask a lot more on eBay, and probably some sells at those higher prices.

    Silver's swooned over the last few months. I'm starting to think about picking up a little if I find it near melt. (Spoiler: I probably won't find it.)
    Randy Abercrombie and MIGuy like this.
  4. Histman

    Histman Too Many Coins, Not Enough Time!

    Well...if you find it at that send me the link or address. :)
    -jeffB likes this.
  5. Collecting Nut

    Collecting Nut Borderline Hoarder

    I think it’s a horrible price but in today’s market it’s on the low side. Sounds like your LCS is having difficulty in buying silver coins. Most of them in the country are.
  6. Histman

    Histman Too Many Coins, Not Enough Time!

    Yep, they are a very large dealer, but they can't get anything just like everyone else. But since you can't get anything near the spot, $3 over isn't that bad.
  7. Treashunt

    Treashunt The Other Frank

    Any better date Mercs?
  8. Histman

    Histman Too Many Coins, Not Enough Time!

    No, most were '37 and later.
  9. Mr.Q

    Mr.Q Well-Known Member

    Nice haul indeed you lucky devil, congrats!
  10. -jeffB

    -jeffB Greshams LEO Supporter

    Even less likely than I thought, given than one of the big online dealers is currently buying at 18.15x FV. :eek:

    Coinflation currently places melt at about 14.63x FV. That means this online dealer is paying more than 20% over melt for silver.

    You did REALLY well. :)
    Histman likes this.
  11. Collecting Nut

    Collecting Nut Borderline Hoarder

    I just bought $2000 worth of silver coins, mostly Morgan Dollars at 19% of face. I feel that I did great hearing what you stated.
    Histman likes this.
  12. TheFinn

    TheFinn Well-Known Member

    Buying silver dollars for 19 cents each is a great deal! Even clad Ike’s for 19 cents is a great deal.
  13. Treashunt

    Treashunt The Other Frank

    Ya beat me to it.

    TheFinn likes this.
  14. Histman

    Histman Too Many Coins, Not Enough Time!

    Actually, I forgot that I did pull out two '49-S Roosevelts, however.
    -jeffB likes this.
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