LOTS of Mercs.....

So I went to the coin store today....not really sure of what i was looking for, like usual.....anyways, there is a coin show here on Friday, so the owner had most of his stuff packed up.....To make a long story short, I bought 633 Mercury dimes for 675 bucks...and most of them are in the teens and twenties and are in G-VG...no 16 D's or 21's though...either way, I'm gonna hold onto these until silver goes up, then I'll sell 'em on Ebay =p

 

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I just sold about 10 rolls of common teens and twenties Mercs that were mostly AG/G for $.97 each before silver fell last week.

 

Nice!

 

WOW! Wish I had that bread. Silver is going to do something. Have a feeling. Just not telling what. Very nice buys. :thumb:

Phoenix

 

Yeah...I suppose I'm a bit of an impulse buyer...I had looked through $2000 in Adams Dollars over the weekend and I turned the leftovers back into the bank today, so I had a bit of money to work with....=p

 

Are you going to the show, I know I shure am, the dealers in St. Augustine stink!

 

I dunno silver seems in the high range right now, although if it were to drop to 8-9 an ounce I'd be all over it.

 

it 'seems' to be in the high range based on its history .. but next week if it were to jump to $20 an ounce, you might kick yourself

I usually dont pay to much attention to spot prices. If i want the coin, ill pay the asking price. Otherwise i pass.

 

I dunno, I actually got a few lots of Washington quarters and mercs together a couple of nights ago to put on E-Bay.

but the last couple of days have been not pretty for silver sellers on e-bay. I just got off the merc and Kennedy sections. Rolls of mercs going for $40. I just lost out to a guy on a 67 piece Washington Silver quarter set in a Whitman Classic album for $130. That works about to about $11/oz for the silver and we're throwing the album in for free.

I'm actually a bit depressed. I was hoping to pick up some coin spending money, but I think I'll wait for things to settle down (or UP - I hope!!!!)

 

Those early Mercs in the teens are worth more than melt.
Back when silver was about 3.6 to 4 X face I bought a bag of mixed Mercs.
Included were 21 1917 D in AG and 23 pieces in good.
They trend for a lot more now.

 

Yeah..there were lots of 1917 and 1917D in the bag, as well as 1919's and 1920D's

 

:thumb:

 

don't forget to check for die varieties!

 

Agreed:
I found, and had NGC certify a 1942/1D overdate that came back XF-45.
All at a cost of about 50 cents (silver was down at the time) plus the cost of certifying.

 

If you had not purchased the Mercs from the Dealer, I am sure that they were destined to be sold for melting down! There have been so many Silver coins melted down within the last couple of years not to mention other years when the price of Silver has peaked, that many of these coins should now be considered rare! However, without knowing the Dates, Mints and Denominations of all of the coins that have been melted down, there is no way for the Market to make a correction and we will continue to see certain Dated/Mintmarked coins to be undervalued. As with the Mints, I believe that every company that melts Silver coinage down, should have to record the Dates, Mintmarks and Denominations and submit the records to the Mint so that these totals can be included in the Redbook and other publications. This would give a better idea of availability of specific Dates, Mints and Denominations and help the Market make corrections to the values of specific Dated/Mintmarked coins.

Has anyone ever paid attention to how many coins that companies like Silver Towne purchase in a single day at a Coin Show? When I attended the Coin Show in Chattanooga earlier this year, Silver Towne must of had $100,000++ in face value of Silver coins that they had purchased at their' tables and that was only 2 hours in on the second day of the Show! The Chattanooga Coin Show is considered a small Coin Show (around 400 tables), so you can imagine what happens at the larger Coin Shows (that have 1,000 tables or more)! I went back by their' tables later that morning and they were already loading some of the coins in their' truck to be moved to a Vault that they rent locally because they were running out of room to keep them.


Frank

 

I guess it was in 2004 that I was able to purchase 100 common date mercs for $30 with one proof rosevelt dime thrown in as a bonus for taking the entire lot. All of the mercs were in good to fine condition. Prices sure have gone up fast.

 

Frank:
Lately the Mercs have been going for over melt, unless they don't have dates.
So, it is unlikely that they'd be melted.
Sure, it is only a small premium, but it is more.

 

I dunno. As far as Silver Towne goes, I'm sure they're melting some of it. But they're also paying someone minimum wage to go through the coins first. Just check out their website. One of the FEW that list WL's and Roosy's and Mercs in AG/Good/Circ condition!! The prices aren't that great, but you can get ANYTHING. Unless they're idiots, they're only melting down the really common stuf and they've still got a ways to go there

 

i thought it was illegal to melt coins? i know its illegal for the copper cents, but is it illegal to melt down silver?