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JerrySpringer
Penny Hoarding Member
669 Posts |
 Posted - 11/29/2008 : 18:58:09
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Just read that dealers offer perhaps 40% of spot value for junk silver. That is $4/ounce. Ouch. Is that right?
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 11/29/2008 : 19:06:29
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For the rip-off artists $4 per oz is the right price.
Dealers, honest dealers mind you, are desperate for silver, junk or otherwise. Some will give you 85%-90% of the spot price of silver, or if you know anyone interested in selling let them know they need to shop around for the best buyers around, and that includes the buyers on this forum too. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 11/29/2008 : 19:30:19
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Dude, if you're getting ripped for that. Sell on ebay. HAHA, I sold my 2008proofs for 76 and 77bucks, my dealer only offered 30
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Trolling is an art. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 11/29/2008 : 19:40:51
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I will pay 8x right now. Let me know!!!
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/29/2008 : 20:00:00
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| I am not selling right now. I might practice that Warren Buffet tenet and never sell. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 11/29/2008 : 20:14:36
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| BAH!!! You got my hopes up too. |
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rodzm
Penny Pincher Member
USA
143 Posts |
Posted - 11/30/2008 : 12:03:55
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quote:
Originally posted by JerrySpringer
Just read that dealers offer perhaps 40% of spot value for junk silver. That is $4/ounce. Ouch. Is that right?
And thats the reason I tell my dad not to sell to local dealers were he lives at. |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/30/2008 : 12:25:07
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I am wondering too now whether all the silver proof type coins and other numismatic coins will actually command lofty prices if silver price hits the ceiling. My worst-case scenario for metals is, aside from confiscation, that the street price for silver is all that will matter and not whether the coin is an eighteen-eighty something or other. I am a total newbie, but the way things are being put out there, I believe that if the regular folk start getting too worried about fiat currency and rush to buy precious metals, then spot and street price is all that will matter -ie- what a coin is worth as a barter unit etc,etc.
In all honesty, this is getting fascinating as the days go by. I am not so sure my job is safe and here we are going into a recession and the government is pledging trillions of dollars to shore up bad behavior of private concerns. I really hope my scrambling around for metal is totally over-reactive and things get better, but I suspect that very strange things are about to unfold for our money and its confidence. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/07/2008 : 20:58:47
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At the coin show today I was able to buy some 90% from one of the dealers after Neckro told me who had some. I got it for 8.8x face. His buy price was 8.4x face.  |
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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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 12/07/2008 : 21:45:28
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| 8.8 is a good deal right now. My dealer is charging more now then a few weeks ago when spot was higher. WTH!!!! |
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darsemnos
Penny Sorter Member
96 Posts |
Posted - 12/07/2008 : 21:48:32
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quote:
Originally posted by JerrySpringer
In all honesty, this is getting fascinating as the days go by. I am not so sure my job is safe and here we are going into a recession and the government is pledging trillions of dollars to shore up bad behavior of private concerns. I really hope my scrambling around for metal is totally over-reactive and things get better, but I suspect that very strange things are about to unfold for our money and its confidence.
Are there any "safe" jobs? I work for a defense contractor just recently awarded a 5.1 billion dollar contract. Sounds safe. But has the money actually traded hands yet? All bets are off in my mind. I wouldn't mind getting and extended vacation. |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 12/07/2008 : 22:01:31
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had a guy at a yard sale a month ago or so and was selling 90% halves at 3 times face but it wasnt many halves.. But i did buy all of them plus the 40%ers which were a dollar... I think he thought they were all clad and was selling them for a dollar
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Inquiring minds want to know |
Edited by - daviscfad on 12/07/2008 22:02:38 |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 12/07/2008 : 22:13:07
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quote:
Originally posted by HoardCopperByTheTon
At the coin show today I was able to buy some 90% from one of the dealers after Neckro told me who had some. I got it for 8.8x face. His buy price was 8.4x face.
Haha, I got a great deal at 9x personally. Way better then the 10x 10.1x face I have been paying. Was well worth the 1 1/2 drive personally. |
Trolling is an art. |
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What are dealers paying for junk silver?
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