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JerrySpringer
Penny Hoarding Member
669 Posts |
 Posted - 10/25/2008 : 14:02:57
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What was the average price for a silver half dollar, both the 40% and 90% versions, about 6 years ago when silver was in the ~ $5/oz range? Also, do you folks think the run up in silver prices in the late 1970's led to many of the silver coins to be melted down? I am doing a back of the envelope type of calculation here. The mint produced nearly a billion silver Kennedy half dollars in total. I'll ballpark that prior to that, the mint produced a billion silver half dollars from the 1920s on through to 1963. So, that was ~ 2 billion silver half dollars in circulation at one point potentially. How many possibly got melted down in the late 1970s? Silver prices ramped up nearly 10-fold in a short period.
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 10/25/2008 : 16:14:32
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Good question, but if even 1% is left in circulation, that's still 30 million units. No?
Face value $15mil. If you were to cash in for melt at a conservative rate of 6x face, you are still talking about. 75mil in profit out there.
Not a bad deal if even .1% are out there still. |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 10/25/2008 : 18:08:18
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| I like your thinking. Experiences around my parts makes me believe many of them there half dollars are still in circulation. I think on perhaps 5 or 6 recent occasions when I asked a teller for half dollars, they handed me a silver containing one and those were the lose ones in their trays. So, unless Brinks or associates is sorting out the silver from the coins that are coming in from the banks in those burlap bags, I am thinking there are a good amount left to be found. |
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fb101
Administrator
USA
2856 Posts |
Posted - 10/25/2008 : 20:33:41
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quote:
Originally posted by oober
Good question, but if even 1% is left in circulation, that's still 30 million units. No?
Face value $15mil. If you were to cash in for melt at a conservative rate of 6x face, you are still talking about. 75mil in profit out there.
Not a bad deal if even .1% are out there still.
That number is low.
A certain member of this forum (whose hoard name I shall not mention) probably has that much already in his'stash
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 10/25/2008 : 20:56:43
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| Low meaning what is left or my estimate is low? Please be the latter!!!! |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 10/25/2008 : 20:59:13
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Who ME? I think Jackson Metals did more damage than the big melt- they were able to buy all them "balistic" bags ($50K), now that was some forsight. I don't know how much is left but I'm still pullin some. Got another 70D last night- 3rd one this year, 6th overall. Think they only made 3M of them dam things for mint sets- $hit is getting dumped sos its still flowin.
HH all, Mark
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"54/54/2280" |
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fb101
Administrator
USA
2856 Posts |
Posted - 10/25/2008 : 22:33:36
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quote:
Originally posted by oober
Low meaning what is left or my estimate is low? Please be the latter!!!!
I was joking, but I do think the estimate is low. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 10/25/2008 : 22:43:11
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quote:
Originally posted by fb101
quote:
Originally posted by oober
Low meaning what is left or my estimate is low? Please be the latter!!!!
I was joking, but I do think the estimate is low.
Woot, now I am pumped to sort 1/2's. Good thing my bank has begun ordering them, for me... 1 box per weak I am starting with. Oh and did I tell you they think I am crazy? |
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A few questions about half dollars' prices
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