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Robarons
Penny Pincher Member
USA
167 Posts |
 Posted - 08/10/2008 : 01:04:42
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When you purchase your junk silver which plan do you use? Do you buy the Roosevelts, washingtons, and JFK's because they have less wear and are known by the public as 'current and real' money? Or do you pick-up the Mercurys, Walkings, Standings, Sittings, barbers, etc. trying to play the numis plan and the fact they don't look like current coinage so the public wont confuse a 1962 Franklin with a 1969 silver half when it comes to using/buying 90% silver.
(Assume prices are the same for old and new 90% junk)
As long as the silver community uses the X times face value style of valuing junk silver, it wont matter that my 1899 barber weighs 11.3 grams and my 1964 JFK weighs 12.5 grams. I like my barbers because they made more Jefferson nickels in 1939 than the whole mintage for barber halves so they have some numis value now (or maybe in the future).
Am I missing something? Does any body else look past the wear and buy these oldies when having the chance to buy newer less wear coins? Thanks
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Seven days without sorting makes one weak.
I told my buddies theres no worry for a run on the banks. Joe Sixpack too lazy and *may* have a walk on the banks. |
Edited by - Robarons on 08/10/2008 01:06:48 |
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kieblera5
Penny Collector Member
USA
334 Posts |
Posted - 08/10/2008 : 01:33:42
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quote:
Originally posted by Robarons
When you purchase your junk silver which plan do you use? Do you buy the Roosevelts, washingtons, and JFK's because they have less wear and are known by the public as 'current and real' money? Or do you pick-up the Mercurys, Walkings, Standings, Sittings, barbers, etc. trying to play the numis plan and the fact they don't look like current coinage so the public wont confuse a 1962 Franklin with a 1969 silver half when it comes to using/buying 90% silver.
(Assume prices are the same for old and new 90% junk)
As long as the silver community uses the X times face value style of valuing junk silver, it wont matter that my 1899 barber weighs 11.3 grams and my 1964 JFK weighs 12.5 grams. I like my barbers because they made more Jefferson nickels in 1939 than the whole mintage for barber halves so they have some numis value now (or maybe in the future).
Am I missing something? Does any body else look past the wear and buy these oldies when having the chance to buy newer less wear coins? Thanks
I just ask for junk silver. Personally, I don't care what it is that they give me. I usually get halves though, but it is whatever my dealer puts together. |
Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
An Obama nation is an abomination.
There's more money in one cent than in a dollar bill. |
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HoardCopperByTheTon
Administrator
USA
3603 Posts |
Posted - 08/10/2008 : 03:25:52
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| I take whatever is available.. but like you, I have a preference for the Barber stuff if given a choice. I bought 500 Barber dimes for just under 10x face.. but that was last year. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
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wagsthadog
Penny Pincher Member
USA
191 Posts |
Posted - 08/10/2008 : 11:43:14
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Hi all,
I have a little bit of every denomination, but don't usually go into Barber territory. If I ever come across a numismatically rare piece, I usually sell it to get more cheap silver. Only copper I hoard is wheats.
JMO.
wags
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pencilvanian
1000+ Penny Miser Member
2034 Posts |
Posted - 08/10/2008 : 20:09:24
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"Do you buy the Roosevelts, washingtons, and JFK's because they have less wear and are known by the public as 'current and real' money?"
I try to get these coins with the least amount of wear and when I am lucky, with the most luster, in hopes of selling to coin collectors in the future. If WTSHTF is delayed and silver goes up, the true junk of the junk silver will be sold for scrap and the better peices will be held onto or sold to collectors.
The least amount of wear coins will not bring in more money since bullion buyers will pay for quantity, not quality.
I have seen coin dealers with coin sorting and counting machines and will pay the going rate for junk silver coins. The amount of wear is not their concern since the culls will be sold to the smelter, the bulk of the decent shape coins will be sorted and sold individually for collectable value, not melt value.
"Or do you pick-up the Mercurys, Walkings, Standings, Sittings, barbers, etc. trying to play the numis plan and the fact they don't look like current coinage so the public wont confuse a 1962 Franklin with a 1969 silver half when it comes to using/buying 90% silver."
The numismatic play is a tough call, since the better the grade the higher the price to sell as well as buy. Some of the worn Mercury dimes, the heavily worn Standing/Walking Liberty coins, etc. are really for scrap, not numi value, since collectors pay more for better grades of coins and not for the heavily worn coins.
This is just me speaking, everyone has their own idea of what is best or not so best. Buy what you like and sell when it is best for you, that is the best advice I can give.
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Edited by - pencilvanian on 08/10/2008 20:11:21 |
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TenBears
Penny Hoarding Member
873 Posts |
Posted - 08/10/2008 : 23:08:30
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| I like the Franklins. My dealer sells them to me for junk price without any kind of numismatic premium. Walkers and Mercs command just a little premium, at least among area dealers. I like the Franklin over the Kennedy 90% simply because the sheeple may some day have some confusion between the 64 Kennedys and the 40%ers. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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Robarons
Penny Pincher Member
USA
167 Posts |
Posted - 08/11/2008 : 02:33:11
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I do worry that people would confuse a 1964 90% half with 65-70' 40% halves.One time I bought a whole stash a teller saved of 'silver' halves 'she had to let go'. She handed them all over Except a 1963 Franklin. She felt it had a collecter value to it. However there was plenty of 90% mixed with the other 40% halves. I also know tellers who search their halves people bring in now for silver up to 1967 and hand me all the 1968-present 'clad' halves.=)
When I first startedbuying silver I felt like the barber guy. I couldn't get a washington if my life depended on it. Barber dimes,quarters,halves, dollars... I mean morgan dollars was all anybody had. I even got a handful of seated dimes too. When I sold some of my stash, you could tell that the buyer had a 'oh well, I'll buy it' felling to them. |
Seven days without sorting makes one weak.
I told my buddies theres no worry for a run on the banks. Joe Sixpack too lazy and *may* have a walk on the banks. |
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scott71578
Penny Pincher Member
USA
139 Posts |
Posted - 08/11/2008 : 08:04:21
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| in several bags of quarters i purchased in the past , there were many standing liberty quarters in there. 99% of the time they are 1925-1930 as they are most common.barbers are my favorite and i put those aside, along with any other "better than junk" condition coins. it all boils down to what you like and enjoy collecting. |
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Junk 90% Silver: Give me your Thoughts
