I've been buying up a lot of silver lately - well trying too anyways. I have been bidding on a lot of ebay auctions and not winning most of them. People have gone crazy lately with silver. Over paying by tens. So what is your max? 90%-98% spot? I've been shooting for 90% and had a few but not many.
I have been buying common date, average quality Walking Liberty half dollars at $6.00 each. Once and a while I'll go to $7.00 for a nice date. Gone are the days when I could get them at $3.50 each.
Don't think I'm crazy but, I think 'Ag' is a STRONG BUY all the way to $35 and then see what happens. BTW, I'm not buying now but do have close to 50lbs (90%) stashed away here... Take Care Ben
I'm not in a buying postition myself but agree with Ben. It's going to keep moving. When it peaks and starts to fall I'll start dumping. If it falls low enough I'll start restocking with profits.
I generally agree with Ben. But silver has definitely been "discovered" and I don't know anyplace to buy it under spot anymore. So I pick up an occasional piece here and there but the days when silver could be purchased below melt in bulk seem to be over. Maybe a steep terrifying drop in price will bring back the bargains. Here's a question. Are low grade morgan's [G or VG] worth buying at melt? They aren't really high enough in grade for most collectors, but they are silver. Edit: Cleaned morgans are also pretty cheap, but are they destined to always remain cheap or are they worth buying at spot value?
Thanks for the comments. Clouds, why wouldn't it be worth it? A Morgan is worth $15 melt however that value changes with the weight of the individual coin. If you can get them cheap enough then sure it is. Edit: Ah, AT melt then probably not.. because they'd weigh less.
I was more concerned with condition than with weight. I don't care about the last few cents of melt value because of the probability that the price of silver will continue to rise over the years. The real question is whether G and VG common date morgans are a good buy around, say $16?
i personally dont think so. in the last 2 weeks, i have found common date morgans for 10-12 dollars. Look through dealers binders at shows, they dont always update prices. There are deals out there, you just have to look hard for them.
No, I'm not happy with the price, which is why I do very little silver bullion and bullion substitute buying anymore. But that's the best price I see at the present time. Those of you who buy $6 half dollars and $12 morgans are fortunate.
Crazily enough some antique stores will have coins, that a few years ago were indeed ridiculously priced, like $2 for a 1964 Kennedy etc. Just a few months ago I loaded up on some at that price at an antique shop.
If the silver dollar is a common date, and has wear, then I would try for melt value. A BU Morgan is always worth more than melt, and rare dates are obviously better than the silver value; always.
