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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
 Posted - 02/06/2009 : 22:59:25
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I stopped at my usual place and he is at 10.3 x face. I was going to call around and see what the other shops are offering, but decided to go ahead and buy some. My dealer lets me cherrypick through the boxes, so if I want all Walking Liberty halves, no problem. If I want AU-BU Kennedy halves, no problem. I can mix and match as I please instead of the dealer grabbing random coins out of there like it happens at other shops. Just curious what others are seeing out there...
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My hobby: collecting real money 1 copper cent or nickel at a time.
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/06/2009 : 23:11:54
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Where you go? I had to pay 11 today. I too get to cherry pick. 10.3 is very nice.
Of course only being a few blocks away from the house I save on gas, so can't complain too much.... |
Edited by - oober on 02/06/2009 23:13:39 |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/06/2009 : 23:18:42
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| It's a place here in Madison (actually Middleton) called University Coin and Jewelry. I have spent quite a bit there over the past 12 months, so maybe I am getting a break from the regular customer price. I'm not sure, but I didnt want to ruffle any feathers. Occasionally I find Barber coins in the 90% (dimes, qtrs, and halves) and find Standing Liberty Quarters in the mix as well. Even though they are worn, if I can read the date and mintmark, they come home with me. I used to live literally 2 blocks from the store, and directly across the street is another coin shop (weird huh?) but I havent done much business there. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/06/2009 : 23:25:22
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| Duh, should have figured that out... Probably getting a deal. I cant see him selling for 10.3 to a goof off the street... |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/06/2009 : 23:32:35
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| No worries...if you ever come up to Madison, shoot me a message if you want to go over there. I'll see if I can hook you up with a deal. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 02/06/2009 : 23:45:33
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| I was paying 10, now he moved it up to 11x. I buy off the streets for 8.5-9x, then trade them in for halves from the dealer, face for face. It's nice. |
Trolling is an art. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/07/2009 : 00:11:52
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quote:
Originally posted by Neckro
I was paying 10, now he moved it up to 11x. I buy off the streets for 8.5-9x, then trade them in for halves from the dealer, face for face. It's nice.
Good move...I just bought some off of CL at 8.6-9.0x face.
That's cool that he lets you trade straight up. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 02/07/2009 : 00:57:15
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I'm having a difficult time finding a reliable dealer in my area. The couple that have talked to say that their junk silver is bought up pretty quickly. I have to buy on Ebay mainly and I'm lucky to get it at 11x face. Outside of internet searches and phone calls do you guys have any tips for finding a reliable source of junk silver in my area?
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wholelottabon
Penny Sorter Member
USA
76 Posts |
Posted - 02/07/2009 : 07:31:40
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12x face at a LCS that my grandfather used to go to....but I wont go there anymore no matter what the price due to their rude attitude.
On my first and only trip there I asked one of the several men behind the counter it they had any "scrap" silver dimes or halves...coins from 1964 or earlier. He said he didnt know what I was talking about. Then asked if I meant bullion. I replied well kinda...just junk silver coins. "Junk?" he asks. He then leads me down the counter and shows me some generic rounds and bars. Not what I wanted. By this time I was kinda frustrated with his tone and body language and I asked him if those looked like dimes and halves to him. He then called for Steve and asked him if he wanted to "help this guy". Steve knew what I meant but by this time I had had enough and told him politely to just forget about it. I then asked for the "manager"...and told him that I wouldnt be back. If it was too much trouble to "educate" a novice collecter I would just take my business elsewhere.
Sorry to go off on this rant...dont want to hijack this thread.
The other day I clicked on a link from coinflation that took me to a local shop that was selling $2 face for $19.95 but I have not tried them yet. |
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goodcents
Penny Hoarding Member
USA
504 Posts |
Posted - 02/07/2009 : 08:45:18
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Post an ad on Craigslist. I've had so so luck in my area. You need to pay a fair price. Minimally 8-9x face.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/07/2009 : 08:52:00
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quote:
Originally posted by goodcents
Post an ad on Craigslist. I've had so so luck in my area. You need to pay a fair price. Minimally 8-9x face.
I have done 25+ buys on Craigslist over the past year, including one yesterday. Make your offers fair, because many of the sellers will call coin shops to compare. So you win because you buy for less than the coin shops sell, and the seller wins because they sell for more than the coin shops sell.
On a related note, one of my CL local competitors was putting ridiculous buy prices for 90% in his ad. Back when the going rate from coin shops was 9x face, he was offering 5.5-6.0x face. I sent him a nasty email. Turns out he takes his purchases and sends them off to Kitco for a profit, so that's why he is so low on his offers. I squeezed him out by offering more. Eventually I met him, and he's a nice guy, but he admitted that he pulled his silver buying portion because he couldnt compete with my offers.  |
My hobby: collecting real money 1 copper cent or nickel at a time.
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 02/07/2009 : 08:52:42
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| My usual dealer has no junk. If any ever comes through. His door, it seems to get snapped up by survivalist types. I haven't been lucky enough to find any 90% of note since about November. |
"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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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/07/2009 : 08:57:03
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quote:
Originally posted by TenBears
My usual dealer has no junk. If any ever comes through. His door, it seems to get snapped up by survivalist types. I haven't been lucky enough to find any 90% of note since about November.
My dealer mentioned that too...about the survivalist types. He told me yesterday that he used to be a minister so he truly believes God will take care of things in the end. I am not religous by any means, so I cant agree with him, but at the same point I dont expect a mad max scenario either. At some point, our dollar is going to devalue significantly....I think we can all agree on that. So I would rather be protected with "God's money" than fake FRN money.  |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 02/07/2009 : 10:24:51
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There is a coin shop near me that has a fair amount. They were charging 10X 2 weeks ago. The owner is on top of the spot prices, no doubt she has raised it since.
Most of her stuff is definitely junk, nothing worth cherry picking.
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 02/07/2009 : 11:40:50
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| I found some junk silver at my local flea market. Not too much selection but better than any local dealer I've visited. I bought a couple 1 oz silver rounds for 14.50 a piece (Silvertown I guess). What do you guys think of those? Another guy was selling old nickels for 75 cents a piece. Some were war nickels (1942 - 1945); I was able to pick out 12 and bought them all. He seemed to think that any pre-1950 nickel was a "war nickel." I felt a little guilty so I picked up 5 buffalos as well (nice condition too). Has anybody else found coin sellers at your flea market? If so what prices are they charging? |
"Hobbies? I got no hobbies! Everything I do; I do for real." The Gold Coast |
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kieblera5
Penny Hoarding Member
USA
859 Posts |
Posted - 02/07/2009 : 13:44:43
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| The dealer that I have in PA charges exactly what spot is, but I think that's just to me. I happen to be his favorite customer. The last time I was in the area, I bought for 8x face. |
Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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aaron239
Penny Collector Member
USA
260 Posts |
Posted - 02/07/2009 : 15:30:33
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| Lately Ive been lucky to pick up some rounds for 14/oz. I picked up some halfs the other day for 10X + 2 bucks shipping. Other than that, at the moment, Im just sitting and waiting for better deals. In a week or two, I might have to bump my buy prices up a bit. |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 02/07/2009 : 16:47:50
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quote:
Originally posted by wholelottabon
On my first and only trip there I asked one of the several men behind the counter it they had any "scrap" silver dimes or halves...coins from 1964 or earlier. He said he didnt know what I was talking about. Then asked if I meant bullion. I replied well kinda...just junk silver coins. "Junk?" he asks. He then leads me down the counter and shows me some generic rounds and bars. Not what I wanted. By this time I was kinda frustrated with his tone and body language and I asked him if those looked like dimes and halves to him.
I think that some coin dealers (perhaps the more uppity ones) either are somehow not familiar with what "junk silver" connotes or take personal offense to the term and pretend not to know what it means. I've seen it suggested to ask for "cheap silver" or "circulated silver coins" instead but I think some places just want to charge numismatic premiums on everything they sell, no matter how low a price they might have paid for it. I've got no patience for businesses that are too good for their customers either. |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 02/07/2009 : 16:51:57
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| My coin dealer is the banks and although the selection isn't very good most of the time the price is good. Sorry couldn't resist, LOL. HH Mark |
"54/54/2280" |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/07/2009 : 23:13:23
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| Checked out another dealer in town here in Madison, WI and they were asking 11.2 x face...ouch |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/08/2009 : 00:40:29
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quote:
Originally posted by ME CO
My coin dealer is the banks and although the selection isn't very good most of the time the price is good. Sorry couldn't resist, LOL. HH Mark
Lol....if I had the luck with coin roll hunting that you seem to do, that would be my preferred dealer too! In all seriousness though, I firmly believe that people create their own luck and I am sure you are going through thousands upon thousands of coins to accumulate the finds that you do. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/08/2009 : 10:38:45
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quote:
Originally posted by kieblera5
The dealer that I have in PA charges exactly what spot is, but I think that's just to me. I happen to be his favorite customer. The last time I was in the area, I bought for 8x face.
I so hope you clean him out every chance you get. You could flip that on Ebay for a fair amount of profit. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 02/08/2009 : 11:44:55
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| what is he payng then?6X |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/08/2009 : 12:17:54
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quote:
Originally posted by misteroman
what is he payng then?6X
Probably just as impotant, whats the spread... What is typical? 3x face?
2x? |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 02/08/2009 : 16:10:51
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| Wasent my local guy but he wanted 10.5 times face |
Copper Penny Investing
www.portlandmint.com |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/08/2009 : 16:12:00
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quote:
Originally posted by oober
quote:
Originally posted by misteroman
what is he payng then?6X
Probably just as impotant, whats the spread... What is typical? 3x face?
2x?
My main dealer claims 1 - 1.5 x face as the spread. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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What is your dealer charging for 90% right now?
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