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I'm a college student and I've been dabbling in some silver buying and selling.

I recently got a sweet deal from someone on ebay after buying one of their underpriced auctions (25 walking liberty halves for 240 shipped).. asked if they had more, turns out they have a TON.. I mean an additional 210 walking liberty halves and 27 franklins. I asked how much they wanted for the lot, they said 2150.. not a bad deal but I don't have a ton of money lying around, so I offered to do paypal only outside of ebay, saving them ebay fees, if they'd do $2000 shipped (for the 210 walking and 27 franklins) they said OK but they wanted to do it in ebay anyway (nice $140 fee for them right there? )

So i just bought 235 walking liberty halves and 27 franklin halves (262 halves) for $2240 including shipping.. i could take it to local coin store/silver buyer store tuesday and snag 19.45 per face $ , or $2,567 on a purchase of $2,240..or hold onto it until silver hits $30+ again.. what do you guys think.. how long until silver hits above $30 again?

I'd hold.

Welcome to the forum.

If you can afford to use up the FRNs (I'm in college too, I know how valuable those bad boys are), I'd hold on to them. If you need the FRNs, I'd sell only enough to pay your bill - then keep the remaining silver as your profit.

I'd hold too. Congrats on a nice deal.

I'd check thru them to see if any of them are key dates, mint errors, or in such good condition they would bring a premium. And sell any of those that you can get for over melf value on Ebay or Craig's list, or somewhere other than a coin shop that won't give you full value. Then hold the rest as pure silver speculation.

It sounds too good check them out Weight Diameter an Thickness they could be Chinese fakes if so an ripped off

Rosco wrote:It sounds too good check them out Weight Diameter an Thickness they could be Chinese fakes if so an ripped off

I think, an experienced con guy would have taken him up on the offer to go outside of ebay

I would only sell what I had to and keep the rest, If you get a few more posts you can sell some here.
In a week or two i would be happy to give you 20x on some of those walkers.

Bob.

Let me tell you college guys a quick story...

13 years ago when I left for college... I asked my dad "what do you think I should invest in if I get a little extra money?" His response... "Well... gold is at $300 an ounce... that seems a little low. I'd buy some Gold". Well... I didn't. I also contemplated buying some silver about 5 years ago when I left a former job and was considering what to do with some retirement money. Well... I didn't do that either. After doing some calculations... let's just say I left a fortune back there! Hind sight is 20/20 as they say.... The point...

VERY SMART to be investing in silver/gold at your position! Once you get a mortgage and kids and stuff... and a better paying job... you've already trained yourself at investing! Keep up the good/smart work! And my advice... HANG ON to as much of it as you can! You may be VERY GLAD you did in a few years!

if you need the cash I would sell enough to get your investment back and keep the rest as "free silver"

Something doesn't smell right about this deal. You got these halves for 17.09X face. Halves usually bring a premium, and normally go .5 to 1X greater than face, and these are predominately Walkers, which adds another .25 to .5X to the price. So you got a bunch of halves that should be selling for close to $11 each for $8.50??? Again, when a deal sounds too good to be true, there's usually a reason. If everything does go thru smoothly, and the halves are authentic... hang onto them dearly, there is no better vehicle to invest your money in between now and April

beauanderos wrote: there is no better vehicle to invest your money in between now and April

Why April?

thedrifter wrote:

beauanderos wrote: there is no better vehicle to invest your money in between now and April

Why April?

Silver shows strong seasonality. It usually peaks towards the end of April, plus or minus two weeks, then sells off fifteen to twenty percent of its gains in the following few weeks.

tax time?