90% Silver – Make Sure To Always Check It

[Doctor Steuss]

I bought some 90% from my LCS yesterday.

When I got home, I was going through the dimes, to see if any were worth setting aside for my dad’s folders, and in doing so, I found a 1977D, a 1995D, and a 1960 Canadian.

Took me quite a while to calm down -- if I hadn't checked these, they would have possibly ended up getting sold to someone else down the road.

[beauanderos]

and that's just the easy to spot stuff... what about potential fakes

I have found a few clads in sacks of stuff I hadn't ever checked (from years ago)... nothing I can do about it now, I have no clue where it came from?

Hope the LCS will make good on it, they should... if they want your return business

[Doctor Steuss]

Hope the LCS will make good on it, they should... if they want your return business

I am pretty sure they will. I have been a customer for over a decade. But, if they don't make good on it, I am going to have to find a new place to impulse shop.

I did get to see one of the 2 oz. Elemetel rounds (they had both the siren, and the privateer) in person. Those are some really well done products. The LCS had them for sale for $60 each though, lol. If I had more time, I would have prodded to find out their buy price.

[neilgin1]

Hope the LCS will make good on it, they should... if they want your return business

I am pretty sure they will. I have been a customer for over a decade. But, if they don't make good on it, I am going to have to find a new place to impulse shop.

I did get to see one of the 2 oz. Elemetel rounds (they had both the siren, and the privateer) in person. Those are some really well done products. The LCS had them for sale for $60 each though, lol. If I had more time, I would have prodded to find out their buy price.

hey Doc, (and OB)

I'm curious about two things, and PLEASE don't take offense, ie, i'm not trolling, just curious.

first, why do guys buy in sacks?....in understand that you can get MORE, like a $100 FV....or $500 FV worth, but for me personally, two things come into play, I would assume, right now, a $100FV canvas(?) bag of 90's would be $1400?....for me, that's a no go, as I am decidedly middle class...median national income, so ya'll must have a lot more discretionary income than I do, and I don't trust anybody, who isn't tight with me, or blood kin....and you cant see thru canvas, which means they could toss a BUNCH of G4's,or VG8's in there, and that don't equal 7.15 toz....do they weigh the bags to come out to say 71.5 toz per 100 face?

plus, and this is just the way I play my hand, but when I was gearing up to seriously stack, and learning the market, I look at Ag a bit different. I consider that me, paying in soon to be sheiss PAPER fiat, for real money a huge gimme, because I would NEVER sell one gram of Ag for paper money, no....i'll TRADE Ag for goods, food, livestock, grain, diesel, things I can use, so I figured if that's the case, I want MOST coins I buy to "look" PRECIOUS, meaning that blast white look, with the "United States of America" across the top.....so buying 10 face rolls of GEM/BU 64 Kennedy's and 60's era Franklins and 62-64 Wash;s at 15 times face, back in 08-10, was a big deal for me, along with buying rolls of burnished ASES at anywhere from say 360 buy it nows, when the auctions were going for 320-340....and really, please don't take offense, but canvas bags?

and the second question is this Doc, we all know the board is bullshite....right?...its a huge criminal enterprise, its "says" Ag is worth 14.80.....but Doc, you see a coin you like, a coin you consider "well done", like that 2 toz round,and the guy has it at 60 ask, which means $30 a toz......and you thought it was too high priced, but we read of some serious backlogs, we know global fiat is teetering, we know the miserable chicoms are counterfeiting Ag to beat the band...might it be that the REAL price of Ag IS $30 a toz....at least that's the price of Ag in that LCS?

the point i'm struggling to make is, (and i'm struggling) why do guys seem to "shop" Ag to shave a couple of paper dollars off the retail Ag toz price.....when in fact, that 5 or 10 "dollar" difference in the near future, will not matter?...come a day a hundred paper bill will be "worth" one dollar....maybe even less. i'm certain of it, but that's just my take.

there's some rough days coming.....people will kill each other for stale bread, normally decent women will sell their bodies for cans of Chef Boyardee.....people who now take this filthy medicine, these anti-depressants, will be roaming the streets, unhinged and violent, because they cant get it no more, like the frigging "walking dead"...scumbags, who are scumbags NOW, will get together in bands of predators, and just prey on the weak, sick, and old...or those not stout of heart, enough to put a volley of bullets into their heads, and turn around a light a cigarette, before you drag them off their "bikes", put them in a pile, and burn 'em, let the vultures take whats left.

that is the world that's coming...soon. Some might think I've lost my sanity, or i'm overwrought, and paranoid...and that's okay.

I say this with love and respect....heed the signs, get right with God, and fear no evil or darkness, nor death of body.

[silverflake]

Neil and Doctor Steuss, I am borrowing an entry I made on a different thread (silver in hand vs paper vs premium) that I think kind of states what neil is saying:

As usual, good info here all around. Here's my two cents. As a guy on a TIGHT budget (I always say my wife is able to squeeze 6 cents out of a nickel) the high premiums on silver has a noticeable effect on my purchases as I usually buy less than 20 ounces at a time. But that said, I no longer trust fiat. I just this minute bought some Austrian Phils from Provident for $18.54. thats about a $4 premium over spot. But you know what? I don't care. Given the choice between getting silver or getting a good deal, I'd rather have the silver. And frankly if God grants me my allotted 78 years on this planet, then 32 years from now as I approached death would I be happier handing my sons the silver I bought today at $4 premium or would i be sorry saying I tried to wait for a better deal and missed out....a little melodramatic, yes. Point is I am getting silver in hand and trading paper FRNs for it. I am happy. I don't feel ripped off.

OK, I am done. Keep up the great info folks.

Stack. Don't overanalize premiums.

I hope it makes sense and expresses my credo well enough.

Also, Doctor Steuss, a couple years back I bought $100 FV bag from "MintProducts.com" and when I went through it all (I am obsessive) I found 2 dimes from 1982. I called them and that same day, they sent me 2 replacement merc's. Pretty good of them though small potatoes overall.

Alright, keep stacking.

[beauanderos]

Remind me to buy a few cases of Chef Boy ar Dee

[Doctor Steuss]

the point i'm struggling to make is, (and i'm struggling) why do guys seem to "shop" Ag to shave a couple of paper dollars off the retail Ag toz price.....when in fact, that 5 or 10 "dollar" difference in the near future, will not matter?...come a day a hundred paper bill will be "worth" one dollar....maybe even less. i'm certain of it, but that's just my take.

For me, I do it because it's fun. At the LCS, they will usually take time to pull at least a few AU/BU coins. Or, if I ask, they'll pull a specific type if they have it (this time, I asked for Franklins and Walkers to see if I could fill a few holes in the ole Whitman folders). When I buy a .999 silver round (which I do still buy sometimes), I know exactly what I'm going to get. But, with buying 90%, there's a modest amount of mystery, and that tends to keep the hobbyist side of me happy.

[Doctor Steuss]

Also, Doctor Steuss, a couple years back I bought $100 FV bag from "MintProducts.com" and when I went through it all (I am obsessive) I found 2 dimes from 1982. I called them and that same day, they sent me 2 replacement merc's. Pretty good of them though small potatoes overall.

Alright, keep stacking.

I just received an email back from the shop. They are going to pull some dimes and put them in the safe to hold for the next time I drop in.

[neilgin1]

the point i'm struggling to make is, (and i'm struggling) why do guys seem to "shop" Ag to shave a couple of paper dollars off the retail Ag toz price.....when in fact, that 5 or 10 "dollar" difference in the near future, will not matter?...come a day a hundred paper bill will be "worth" one dollar....maybe even less. i'm certain of it, but that's just my take.

For me, I do it because it's fun. At the LCS, they will usually take time to pull at least a few AU/BU coins. Or, if I ask, they'll pull a specific type if they have it (this time, I asked for Franklins and Walkers to see if I could fill a few holes in the ole Whitman folders). When I guy a silver round (which I do still buy), I know exactly what I'm going to get. But, with buying 90%, there's a modest amount of mystery, and that tends to keep the hobbyist side of me happy.

dear Doc....i'm sorry to seem so.....overwrought, (putting it mildly) or intense.....the nearest LCS to me is 3 hours away, and I haven't left my rural county in a couple years, so, I don't breath the word "silver" around here, because I "self store"...HERE,. which as you can imagine is slightly risky, because I been stacking pretty intensely...I could talk and talk about coins for hours, history on Mints, populations, different varieties within a coin, etc....so I hope you didn't misinterpret the tenor of my post, as I have nothing but respect for every poster here, fondly, neil

[neilgin1]

Remind me to buy a few cases of Chef Boy ar Dee

oh you bad man!!! (first laugh of the day, for which I am most grateful)

[Doctor Steuss]

dear Doc....i'm sorry to seem so.....overwrought, (putting it mildly) or intense.....the nearest LCS to me is 3 hours away, and I haven't left my rural county in a couple years, so, I don't breath the word "silver" around here, because I "self store"...HERE,. which as you can imagine is slightly risky, because I been stacking pretty intensely...I could talk and talk about coins for hours, history on Mints, populations, different varieties within a coin, etc....so I hope you didn't misinterpret the tenor of my post, as I have nothing but respect for every poster here, fondly, neil

Oh, I would never assume anything but camaraderie, and friendship from any poster here (you included).

My (soon-to-be) wife and I are hoping to retire somewhere outside of the city one day. I've got a lot of city miles on me, but I'm a country boy at heart. There's something magical about the rural life. But, it will take some getting used to not being able to go to IHOP at any hour of the day (or night).

[fansubs_ca]

I'm curious about two things, and PLEASE don't take offense, ie, i'm not trolling, just curious.

first, why do guys buy in sacks?....in understand that you can get MORE, like a $100 FV

It comes down to amount of silver per $, generally most coin dealers will have a reasonably
tight spread if you are buying $100 face or more at a time. (If you want to buy a few
dollars face at a time you may pay up to twice as much.)

Most of my junk silver was bought in 3 batches $100 face, $110 face, $140 face. (I
forget exactly which order I made those purchases in.) Basically in 2006-2008 (though
too early in the year to "buy the dip") I was shifting a lot of the money I had in a U.S.
bank (and a bit more I brought with me) into silver. I bought the junk silver from a
guy dealing out of his house in North Dakota (he used to run a shop but didn't want
to do it full time anymore), never a single non-90% in the batch but I'm guessing he
kept a pretty good eye on it when it came in. He ran it through his counter in front
of me. Two of the times I got it in a canvas bag, once in a plastic zip lock bag,
basically he used what he had handy. The night after each purchase I counted it
back at the hotel (always perfect count) and divided it up between the 2 bags.
There might have been the occasional coin that was a bit "thin" (mostly mercury
dimes) but very few of them. Quite a lot of shiney 1964s.

I broke it up into 3 purchases on 3 different trips instead of all at once because of:

-Dollar Cost Averaging
-I didn't want to be walking out of the bank with too much cash at one time
-Since I was buying it outside my home area I wanted to keep it down to
quantities I could break up into 2 separate bags and evenly weight it in my
jacket pockets to keep it with me until I got home, I didn't want to leave it
unattended in a hotel room or my dad's vehicle.

Since I sunk most of the funds I had at the time into silver during that time
frame and haven't had a lot of "new" savings since I haven't really bought any
since unless it was an odd ball purchase like the 2 Eagles I bought off a friend
who had inherited them. Basically I'd been holding off because I never quite
got to the threashold to make annother purchase of that size.

[Cu Penny Hoarder]

So, you're getting all upset over 2 clad dimes and an 80% Canadian dime?



Think about it.

[Doctor Steuss]

So, you're getting all upset over 2 clad dimes and an 80% Canadian dime?



Think about it.

Indeed, I am. If I hadn't gone through them, I could have potentially unwittingly sold them to someone else, and that idea upsets me greatly. Should it not?

Edited to add:
Also, from a purely ecomonical standpoint: 3 dimes out of 50 not being what I paid for could potentially add up fast. If it had been a $100 FV bag at the same rate, instead of just $5 FV, that would be 60 dimes that weren't 90% silver.

[Rodebaugh]

No offense ever taken Neil.

Here are my thoughts about bulk buys:
-I normally get a good mix
-I normally get a better deal
-I part it up and sell it out in smaller lots

[hobo finds]

So, you're getting all upset over 2 clad dimes and an 80% Canadian dime?



Think about it.

So lets say you buy a case of beer open it up and 4 are empty, that would be cool?

[Cu Penny Hoarder]

So, you're getting all upset over 2 clad dimes and an 80% Canadian dime?



Think about it.

So lets say you buy a case of beer open it up and 4 are empty, that would be cool?

I don't drink

Silver value of two 90% silver dimes today is $2.12.

The Canadian dime is worth 0.88 cents (you lose 0.17 cents because it's only 80%).

The 2 clad dimes are worth 0.20 cents.

This is not worth getting upset about.

[beauanderos]

The point the OP is making is that should he inadvertently ship a small lot containing three bad dimes to another buyer, it would
reflect poorly on his reputation.

As it should.

I guess it all just matters what price you place upon your integrity.

[90Percent]

The LCS I use mostly is over 1.5 hours away and is busy. I buy in lots in excess of $100 FV sight unseen and have had Clads upon my return return home. Every time he has replaced them. I understand that in a busy business it is to time intensive to physically inspect that many Rosie's. I buy in lots that size because it is more cost effective for me.

Lol. Also, I have to get some Chef Boyardee for SHTF.

[Doctor Steuss]

Lol. Also, I have to get some Chef Boyardee for SHTF.

Dibs on ChefBoyardeeHoarder as a user name.

[silverstacker]

Started filling holes from my granfpdfathers set about a year ago. And within the last year I've been roll hunting with various denominations and filling or even replacing coins with to better ones that I come across.

Finally there were a few that I just couldn't find so I took my books to the LCS and had then help me work through finding not only the type are and mint marks but the condition to stay consistent throughout the books.

I told them a few months back that I wantd to accomplish this as my grandfather was a big part of my life (and started me on this hobby when I was young)

A few left and then it's the high value coins that will be very difficult and take time to acquire.lm not a "Numi guy" but some of these coins will require decisions as the value will obviously play a big part on the condition of each one.

Work in progress.

[Recyclersteve]

So, you're getting all upset over 2 clad dimes and an 80% Canadian dime?



Think about it.

So lets say you buy a case of beer open it up and 4 are empty, that would be cool?

Another way of looking at it might be to suppose you buy a bag of chips and the bag is half empty. Oh wait, half empty isn't that bad due to "settling of contents."

Thankfully it hasn't gotten that bad with metals.

And I personally would feel really badly if someone ever told me I cheated them out of even one silver coin. If this happened to my wife, she'd never let them forget about it and she'd be absolutely convinced they were trying to cheat her. I think it would almost always be an honest mistake. How many dealers have the time to go through every coin they buy- almost none. The ones that do have time to carefully analyze everything probably have very low volume operations (although there could be a few exceptions).