Realcent.org

While this green horned noob is still learning, I believe I found a little honey hole this week when I noticed silver had taken a little drop.

I went into a jewelry store located in a fairly wealthy town that had a sign that stated they buy silver and gold. I walked in and talked to the lady and inquired if they had any silver rounds. She didn't know what I was talking about and asked someone if they sold them. When she came back, she said no. I thanked her for her time and as I was walking down the door, the owner of the store said "Hey, I've got some Morgan and Peace dollars. Would you be interested?".

As I talked with him, I noticed that he was purchasing these coins for silver only, and stated he didn't really care about the numismatic value. When he pulled out the coins and laid them on the table, I started noticing some excellent morg's and p's with no wear, some dpml, and extremely crisp die marks!

I purchased three, went home, begged my wife to let me use some emergency money ( Dave Ramsey would kill me), and went back and purchased some more.

I would post pics, but I'm a little hesitant ( maybe paranoid? ) Here is what I got:

1882-O Morgan. Minor Dull Finish, extremely crisp die marks, no wear or nicks.
1899-O Morgan. Has a nice finish with some blackish grunge around the face of liberty and the eagle. almost no wear marks or nicks
1921-D Morgan DPML and No wear marks. Crisp Die marks. There are a few small nicks from being in a bank bag.
1921-D Morgan. Very Clean, crisp die marks, very minor wear marks, a few small nicks from bank bag.
1921-D Morgan. Clean with some luster, a little blackish grunge around the edges, same as above with wear and nicks
1922 Peace Dollar. Everything is in Excellent shape. Crisp die marks.
1923-S Peace Dollar. No wear marks, slightly dull finish, excellent shape.
1923-S Peace Dollar. Same as above, but a slight greyish luster to it.
1924-? Peace Dollar. I read that these were either Philadelphia or San Francisco. It's in Excellent condition, nice shiny luster, but I think there is something covering where the mint mark is.

When I asked the guy some questions, it turns out that people brought these coins to him to sell for jewelry and the guy was trying to get rid of them to buy some property. I bought all of them for $28 dollars a piece (wish I got them all for 28 ).

After carefully inspection and weighing, all coins are within weight and confirmed not to be counterfeit. I know it's not the most helpful to give you the description without pics, but I'm sure after talking with y'all, I can get some pics up. I'm thinking about taking them to get graded as they are so nice.

Thoughts for this noob?

$28 for all of them is an insane snag.... eaisly over $190 in silver

Sorry, $28 a piece. I wish it was for all of them

0000PaleHorse0000 wrote:Sorry, $28 a piece. I wish it was for all of them

Melt right now is about $23, $1-2 over spot is generally pushing it to me. 21's are not really that special due to how many that were made.

I did have a discussion with him about the melt price. I usually do 10% over spot, but he had a guy in Texas at a coin shop that wanted to buy all his silver dollars for $28 a piece. After looking at the condition of them and then seeing some of the dates, I didn't want to lose them as I really believe I cherry picked them. I'm hoping this was a good start for me. They guy has a ridiculous amount of coins from people who come and sell them for jewelry or $, and I'm hoping that I can keep finding some key dates as he is only in it for the silver.

Now that I think about it, this topic might be better located in the Numismatic section. I usually invest in ASE, but this was a first for me stepping into the morg's and p's.