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I picked up a few more ounces of junk silver today. Who cares, right? Many here have probably been doing the same thing and likely in much larger amounts.

I have been buying silver for a long time. Some months I buy more than others and some months I don't buy any at all. But all along I have been steadily building up a stack of junk silver. Picking up small lots of 90% and 40% silver coins on eBay is how I usually get my silver. That plus coin roll hunting which can be really hit or miss. Today I decided to stop in at a local coin shop to buy some silver in person for a change.

I got a whopping $3.75 face of 90% for $60. Buying at 16x face means I paid a premium over spot. Maybe there are better deals out there. Maybe there are even better deals here on Realcent. But there is something about exchanging three pieces of paper with Andrew Jackson's portrait for 15 pieces of 90% silver with George Washington's portrait that just made it seem like a good deal. I walked right in and got the coins and was out in minutes. No shipping, no taxes, no hassle.

The coin roll hunting today wasn't too bad either. I managed to get a total of $90 in halves from a few banks around town. There were two 90% and two 40% halves in the mix.

Sounds like a good deal on silver to me. And real good luck roll hunting too. Congrats!

Very good. 16 x face is a good deal. Even better is "you hold it and you own it". Then you sweetened the deal with some more face value silver roll hunting. Sounds like a great day in my book. Congratulations.

wheeler_dealer wrote:Very good. 16 x face is a good deal. Even better is "you hold it and you own it". Then you sweetened the deal with some more face value silver roll hunting. Sounds like a great day in my book. Congratulations.

+1

You didn't do bad at 16x, and the stuff at 1.4x was a steal.

You did very well. 16X seems to be about the rock bottom floor that anyone is willing to sell junk for right now (unless they have a large quantity of worn quarters to sell). You're luck was incredible finding four halves in just $90 of rolls!!

Auction yesterday, watched junk go all day at 20x. Only got my paddle in the air once.

You're doin fine!

Great deal and very good on the $90.
Darn guys, hearing this and not having one LCS within an hours drive hurts
When I get on my feet again I would love to be able to go in and actually look at some coins .

This is a great thread. It's all about what a great feeling we gain in holding physical. Trading FRNs for real money always means we sacrifice the instant gratification of spending our cash on movies or travel or trinkets, but we won't regret it.

messymessy wrote:Sounds like a good deal on silver to me. And real good luck roll hunting too. Congrats!

Agreed. I picked up some 90% on Friday for 16.5X. It was only $2 face. I left $1.25 in the bucket because they were so worn. The owner of the LCS is great. He lets me pick through to get the AU-BU quarters, halves, and dimes. I go by the motto that slow and steady wins the race.

shinnosuke wrote:This is a great thread. It's all about what a great feeling we gain in holding physical. Trading FRNs for real money always means we sacrifice the instant gratification of spending our cash on movies or travel or trinkets, but we won't regret it.

that is EXACTLY what I wanted to say, but Shinn said it better, Two. i love 90%'ers, and 40's! i never use the word "junk", its hard currency. i do the same thing you do....Ebay....you're lucky coz you got an LCS. i don't have one within 60 miles, and even that city of 50,000, i never been to an LCS, so i do Ebay.

16 times is a score....man, if i could get a$10 face roll of 1964 GEM/BU Kennedy's for $160?.....amen!

you know what i like better than 90% dimes? 40% Kennedy's and the 1970 is a numi sleeper, they only minted 2 mln of the business strikes and 2 mln of the proofs....the 90 dime has .07 toz of silver, while the 40 Kennedy has .15 toz.....and if you were trading in a swap meet setting, just short hand to a 'fifth of an ounce'....i guys would scream about that.....okay , so we can call 2 40 Kennedy's a "third of an ounce".....and silver at $150 a toz? (its going there...patience) those two 40%Kennedy's trade at $50....worth of goods....what do you think a case of tuna, 24 cans would fetch?

nice score...don't stop. be blessed, neil

Today, a guy answered my ad on craigslist. I paid $115 for $9.05 face of 39 Mercurys, 9 Rosies, 5 Standing Liberty halves, 3 quarters, and one 1921 Morgan; 12.7 x face was a good deal today.

IdahoCopper wrote:Today, a guy answered my ad on craigslist. I paid $115 for $9.05 face of 39 Mercurys, 9 Rosies, 5 Standing Liberty halves, 3 quarters, and one 1921 Morgan; 12.7 x face was a good deal today.

Let me be the first to say, Bully!

Thanks everyone for the nice replies. The 15 quarters I got were in great shape. The two most worn were a '43 and a '45 and they were in better condition than the worn out quarters from the 40's that I find on eBay. Overall a nice addition to the stack at a good price. I will be making more purchases from this LCS in the future.

The CL ad worked again today. Exchanged $156.00 FRNs for:

3 nice Morgans: 1884-O, 1899-O, 1921-S
1 Peace
7 Halves 90%
1 Half 40% (oops)
3 Quarters, one is a 1964 Washington, nearly perfect
30 dimes, Merc & Rosies

$11.75 in coins for $156 is 13.27 x face.