I really like the old silver dollars and halves. I'm new to this numismatics thing and want to get some. Specifically Peace dollars and Walking liberty's. I guess I got into the game at the wrong time with silver so high. Anyone else have this problem?
Actually there is a smart way to play this, silver spot price notwithstanding. Buy uncirculated Peace Dollars and Walkers. You can still get some of the more common dates for close to spot in BU condition. The typical premium for brilliant uncirculated coins, especially common date/mm coins, is at an all time low. It's a great opportunity to get a start on an uncirculated set.
Interesting thought. I'll have to go to my coin dealer and see what he has available. I was planning on getting some no matter the silver price, but I can see why this might be a good time to get some good grades.
I'm new to coin collecting too, and want to find some Walking Libertys and Peace Dollars. Im going to buy a couple rolls of Halfes from my bank tomorrow.
I have just recently started a an uncirculated Franklin half collection, the silver spike made it all possible. I only have 9 of the 34 coins but 7 of 9 are BU and only cost about $16-$18 each.
Bullion price changes are probably going to bring some old Franklins and such out of some drawers and into the light for the first time in many years. Yes they will cost more but you may have a shot at some great coins!
Be sure to check dealers junk silver bags/boxes. Given the high silver value, higher grade coins are making it into "junk" silver. Just picked up an AU 64 Kennedy and several F-VF Franklins along with a number of VG walkers and standers all for 35 times face. That works out to a hair under melt. So get a grading book, learn how to tell Good from a Fine and you may be able to cherry pick some good deals.
If melt value is about 36 dollars for a peace and 17 for a walker, what would be your limit for AU or MS common dates? Melt value or a little more? I just don't want to get some and realize later I could get them cheaper if I shopped around a bit more.
Higher grades like AU 58 and up are going to still have a premium on them, just not so much up to a point. You hit MS64 and even common dates are going to have a higher premium. I cant say only pay x amount above melt. It really depends on the coin, common date or not. Get a subscription to coin world on line. That way you have access to their price lists which will give you a frequently updated list to reference.
Don't forget to ask your bank for "silver dollars", "big dollars" "Ikes", or "Eisenhowers". I've bought hundreds of them the last couple of years. There is no better way to find a Morgan or Peace dollar at face. There is also the chance of scoring a 40% silver Ike.
I always ask my bank for halves and big "silver" (hoping they are actually silver) dollars. They never have any, but I still ask.
This may have been a simple typographical error, but there are 35 coins in a Franklin Uncirculated set. Chris
