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misteroman
Moderator
USA
1246 Posts |
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NotABigDeal
1000+ Penny Miser Member
USA
1848 Posts |
Posted - 05/07/2008 : 06:27:13
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Kinda high reserve. Hope you get them.
Deal |
I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks. |
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moboman
1000+ Penny Miser Member
USA
1338 Posts |
Posted - 05/07/2008 : 06:38:35
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| his reserve is almost reasonable. A local coin dealer by me is paying 11x face right now, and his reserve is a little over 11x face. |
I have a hard time resisting the temptation to take a wheat penny out of the take a penny cup when I see one! |
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Know Common Cents
Penny Pincher Member
173 Posts |
Posted - 05/07/2008 : 22:06:17
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At 10X face, I'd have jumped all over them, too. Even at 11X, it seems reasonable. A good deal is really only good (or great) if it materializes. I still think silver is going to outperform gold in the 2nd half of 2008 and it may just be worth paying a little on the high side to get that quantity at one time.
Hannes Tulving (www.tulving.com) is selling $500 face bags of US 90% silver for spot silver minus 50 cents (times half the 715 ounces of silver found in a $1000 face bag). I always use that pricing as sort of my barometer as he's a high-volume dealer. |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
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Saul Mine
Penny Collector Member
USA
335 Posts |
Posted - 05/08/2008 : 00:53:34
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| Well, I happen to think it will be closer to two years before you show a profit in silver. We all know silver will go up, we just can't predict the timing. But based on performance so far this century I think it will be two years and then about 100% rise. That is to say you could just as well do something else with the money and buy in fall 2009 to catch the rise in winter. |
A penny sorted is a penny earned!
Please use tinyurl.com to post links. Long links make posts hard to read. |
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psi
Penny Pincher Member
Canada
127 Posts |
Posted - 05/10/2008 : 14:01:42
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| I wonder how much lighter so many dimes would be due to wear than when they were minted? You'd think dimes would wear quicker than bigger coins. |
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CoinHunter53562
Penny Hoarding Member
USA
628 Posts |
Posted - 05/10/2008 : 18:37:15
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quote:
I wonder how much lighter so many dimes would be due to wear than when they were minted? You'd think dimes would wear quicker than bigger coins.
As a rule of thumb, bullion dealers that sell "junk" silver coins figure about 715 ounces of silver per $1000 face. When originally minted, $1000 worth of silver dimes would have had about 724 ounces of silver, so they figure on losing about 2.5% of the original silver.
Interestingly, I have seen some sights out there that charge a small premium for half dollars basing it on the half dollars having more silver due to being less circulated. I have seen 718-720 ounces quoted for $1000 worth of silver half dollars, so roughly 0.5% to 1.0% loss of silver. |
Load up now while you can!
HoardCode0.1:M38/1USWI:US1Cu990:US5CuNi85 |
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Look what I was high bidder on
Posted - 05/07/2008 : 00:15:27
