Went to a new bank today to buy pennies. Went in there and noticed they were hand rolls. The teller at the drive thru asked "what are you going to do with that many coins" I answered that I go through and pick out the old ones. She seemed a little snotty, but the teller that helped me was VERY nice. She said that I may get some good coins b/c an old lady recently came in and brought in a bunch of old coins. Asked for halves but they had just a bicentennial. Well she also says that she has a few steelies that she's took out before. I offered if she wanted to sell that I may be interested. She asked how much, but honestly I don't know what to offer her. She said she only had 3 or 4 and she used a chrome cleaner to clean them. Well I also left my name and number for them and told them I would buy silver for 10x face. Seems like they may also let me know when old stuff comes in too.
Cleaned = pretty much worth a penny each on those steelies. Ive picked them up for 10 cents each lately. Sometimes a little more if they are in nice condition.
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b] He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
Yeah I know 10X is high, but it will still bring my overall hoard price down. And if you can get it for less you are getting a heck of a deal. Even bag prices $1000 face seem to be going for that rate now. So especially for a small amount of face I still feel it as a fair offer.
If making a buy offer to a teller or anyone on the street, 70% of Fair Market Value is what I try to offer. I may go higher depending on the situation.
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b] He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
If making a buy offer to a teller or anyone on the street, 70% of Fair Market Value is what I try to offer. I may go higher depending on the situation.
That's pretty much spot-on seeings as how most coin shops and bullion handles are in the 60-70% range. The exception has been gold bullion in my area at least, while I haven't been in in a bit, they were offering $20-$40 OVER spot for eagles about 2 months ago and I think that's still holding.
NEW BANK
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Posted - 01/27/2009 : 15:07:05
