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jpf231
Penny Collector Member
USA
340 Posts |
 Posted - 07/01/2008 : 19:32:55
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My boss wants to get rid of his silver, roughly 5 pounds of it. He has an old cigar box full of 90% silver US coins that he's bringing to the office tomorrow. He wants fair market value is all (and no shipping). Can you see me salivating like Pavlov's dog?
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fb101
Administrator
USA
2856 Posts |
Posted - 07/01/2008 : 22:00:03
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| shortcut to a hoard! But what's a fair price? |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
 Posted - 07/01/2008 : 22:20:58
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quote:
Originally posted by jpf231
My boss wants to get rid of his silver, roughly 5 pounds of it. He has an old cigar box full of 90% silver US coins that he's bringing to the office tomorrow. He wants fair market value is all (and no shipping). Can you see me salivating like Pavlov's dog?
Foolish on the part of your boss, especially in these times. But, good for you. What price do you intend to offer? Are you going to show him the melt price from coinflation and propose to pay him that? You might even find a rare date or two in the batch. |
"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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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/01/2008 : 23:25:49
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or you could show him the price Tulving is offering at--spot minus 15 cents.
You must be logged in to see this link.
Or you could try and convince him he'll get less than 90% of spot from a local dealer and offer him 95%...
let us know how it goes. |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 07/02/2008 : 19:04:54
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| Here's what happened. My boss overestimated the amount of silver he had in that dusty old cigar box. It turns out there were 123 - 40% halves and 17 - 90% (1 Franklin(61)). I did the math usng coinflation.com's prices for today, which as you all know is based upon yesterday's close I believe, and the value of the lot was roughly $441. He is fine with what I tell him fair market price is. He doesn't even care to look for himself actually. I plan to buy them for the $441. |
Edited by - jpf231 on 07/02/2008 19:06:11 |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/03/2008 : 00:07:05
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| not bad..a little silver at about spot is better than none at all... |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 07/04/2008 : 10:39:04
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| I wound up buying the silver (123 - 40% and 17 - 90%) for $375 (melt was roughly $441 yesterday) - WAHOOOOOOOO !!! Into the safe deposit box it goes - who knows - it may feed the family for a few months WTSHTF !! |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/04/2008 : 11:07:21
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| but they will starve after a few months!!! Go buy more!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Of course if everyone else has starved, there would be more food for the rest of us |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/04/2008 : 12:10:02
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| that's fair. you should not be able to sell 90% at spot, let alone 40%. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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n/a
deleted
6 Posts |
Posted - 07/07/2008 : 11:19:58
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quote:
Originally posted by jpf231....Into the safe deposit box it goes....
BAD MOVE imho......"If ya don't hold it, ya don't own it". Should there be a "banking holiday", there's a good chance you'll never be able to get to your safe deposit box.
Better to keep it home in your possession. Hide itmin plain sight....up on a plant shelf, in an old can of paint in the garage...you get the idea. |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 07/07/2008 : 17:30:18
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| hmmm ... makes me nervous having a stash in the house, but I see your point. Just bought roughly $200 more of junk silver today to add to the hoard. Ag, Ag, Ag, Ag, Ag ... |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 07/07/2008 : 22:38:02
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quote:
Originally posted by jpf231
hmmm ... makes me nervous having a stash in the house, but I see your point. Just bought roughly $200 more of junk silver today to add to the hoard. Ag, Ag, Ag, Ag, Ag ...
I dont like having junk silver just laying out. I know someone who had a jar (coffee can) stolen. She thought she had it hidden I guess, but the thief used it to go buy gas with. If it had been oz rounds of silver the thief would not have had a clue what to do with them.
Just my opinion.
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"99% of all lawyers give the rest of them a bad name" 
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n/a
deleted
139 Posts |
Posted - 07/07/2008 : 23:45:54
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invest in a safe. bolt it to your floor.ive got an old bank safe that
weighs over 1200 lbs empty, never mind the silver bags and misc "stuff".
i see too many shows about bank robberies and safe deposit boxes being robbed.
plus, what happens when you get more than will fit in one box?
if silver stays at say $18 forever and never moves, the fees on the box will erode your value to nothing over time. of course houses get robbed too, but thats what the pittbulls and mossbergs are for. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 07/08/2008 : 00:41:00
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We just can't have nice things...  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/08/2008 : 05:05:03
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| apparently the risk in a big safe is the door can be pried open with some ease. the alternative is an in-ground safe but these are smaller and harder to install. experts recommend hiding in plain sight or in unexpected places - e.g. in a box marked Christmas Decorations. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 07/08/2008 : 06:28:30
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quote:
Originally posted by Lemon Thrower
apparently the risk in a big safe is the door can be pried open with some ease. the alternative is an in-ground safe but these are smaller and harder to install. experts recommend hiding in plain sight or in unexpected places - e.g. in a box marked Christmas Decorations.
A good quality safe is relatively "safe". You generally get what you pay for. It just takes a little research.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/08/2008 : 07:09:18
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| Like many other things, a little diversification is probably good--some in a safe, some in a can, some in plain sight, etc...(but beware of the risks associated with a safe deposit box). |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/08/2008 : 08:03:54
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| Good purchase at $375. I was going to mention that coinflation prices seem to be for the uncirculated coins and based on the weights of the coins when they left the mint so those figures arent always accurate. Typically bullion dealers figure on $100 face of 90% having roughly 71.5 ounces of silver (down from 72.3 when minted). For halves, the estimate is a slightly higher number and usually around 71.8-72.0 ounces due to those not circulating as much so there isnt as much wear on the coins. Either way, good job and keep buying! |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/09/2008 : 16:13:54
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quote:
Originally posted by NotABigDeal
A good quality safe is relatively "safe". You generally get what you pay for. It just takes a little research.
Deal
[/quote]
thaat's not exactly true. an in-ground safe can be safer than a much more expensive floor safe. creative hiding can be even safer and cost almost nothing. while a large floor safe realistically won't be carted off, their doors are fairly vulnerable to being pried open. There is not a single perfect answer, and I just wanted to point out that a heavy, expensive floor safe is the only way to look at the question. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 07/11/2008 : 13:20:00
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quote:
Originally posted by kavajava
Like many other things, a little diversification is probably good--some in a safe, some in a can, some in plain sight, etc...(but beware of the risks associated with a safe deposit box).
Just don't diversify too much or too creatively, or you'll end up losing stuff! Took me almost 6 hours to find a pistol that i hid in the attic one time  |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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longhorn
Penny Sorter Member
80 Posts |
Posted - 07/17/2008 : 20:26:41
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Better yet, walk in basement vault with bank type door. Mine's 12' by 50'. Now if I could just fill it up.
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Obey Gresham's Law |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/17/2008 : 22:36:23
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quote:
Better yet, walk in basement vault with bank type door. Mine's 12' by 50'. Now if I could just fill it up.
You have a vault that is 12' x 50' in your basement? Wow |
My hobby: collecting real money 1 copper cent or nickel at a time.
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/18/2008 : 01:13:46
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| WOW or why lol?Not even sure trump could fill that up.I know just an average coffe can full of silver is something like $10K and gold would be what $500K?and that is just a coffee can. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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n/a
deleted
139 Posts |
Posted - 07/18/2008 : 01:27:46
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nothing is totally "safe" its just a sense of security.
if its manmade..man can take it apart.
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fb101
Administrator
USA
2856 Posts |
Posted - 07/18/2008 : 09:37:47
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quote:
Originally posted by scott71578
nothing is totally "safe" its just a sense of security.
if its manmade..man can take it apart.
As we've well demonstrated with our financial systems. |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 07/18/2008 : 11:27:02
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| I just realized that "imho" must mean "in my humble opinion" - what a dope. |
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I have the opportunity to buy 60 ounces of silver
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