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<p>[QUOTE="Ed Zak, post: 14047, member: 824"]I asked a dealer that question and his story was pretty interesting.</p><p><br /></p><p>In the late 70's, the Hunt Brothers from Texas were trying to corner the silver market. Silver prices were going crazy as the cost per ounce eventually exceeded $50 per ounce.</p><p><br /></p><p>Every weekend, this dealer (before he was one) went to the local Flea Market where a coin dealer had a sign stating, "Will buy pre-1964 silver coins at 25 times face value...then 30 times face value...then so forth.</p><p><br /></p><p>Eventually, he asked the dealer (when his sign advertised "40 times face value" )what he would pay for Barber/Liberty Head type quarters. He told him, if you got them, I give you 45 times the face value.</p><p><br /></p><p>So, he runs home and comes back with a pail full of all these Pre-Washington quarters (common dates in AG to G condition) and the dealer gives him $11.25 for EACH quarter...as long as the date was readiable.</p><p><br /></p><p>The Flea market dealer thought he got a deal and the guy with all of those quarters ends up going home with over $9,000 in cash.</p><p><br /></p><p>Excited by his win fall, he started buying and selling coins and now has a large coin shop in Ft Myers, FL where he has been selling and buying for the last 20 years.</p><p><br /></p><p>Pretty cool story, I thought![/QUOTE]</p><p><br /></p>
[QUOTE="Ed Zak, post: 14047, member: 824"]I asked a dealer that question and his story was pretty interesting. In the late 70's, the Hunt Brothers from Texas were trying to corner the silver market. Silver prices were going crazy as the cost per ounce eventually exceeded $50 per ounce. Every weekend, this dealer (before he was one) went to the local Flea Market where a coin dealer had a sign stating, "Will buy pre-1964 silver coins at 25 times face value...then 30 times face value...then so forth. Eventually, he asked the dealer (when his sign advertised "40 times face value" )what he would pay for Barber/Liberty Head type quarters. He told him, if you got them, I give you 45 times the face value. So, he runs home and comes back with a pail full of all these Pre-Washington quarters (common dates in AG to G condition) and the dealer gives him $11.25 for EACH quarter...as long as the date was readiable. The Flea market dealer thought he got a deal and the guy with all of those quarters ends up going home with over $9,000 in cash. Excited by his win fall, he started buying and selling coins and now has a large coin shop in Ft Myers, FL where he has been selling and buying for the last 20 years. Pretty cool story, I thought![/QUOTE]
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