Poor Kid from my Craigs List AD

[Henchman]

So lately I been getting tons of responses for silver coin when offering 26x. This young kid calls me up and says he has a huge coin collection he wants to sell. His figures are very vague but I tell him whatever he has that is Silver 90% or 40% I will take. He gets back to me and says 50 JFK 40%s and he wants to keep the rest. I said sure no problem that will add up to $225. You should have heard the excitement in his voice. The next day he calls me back and says he has 30 or 40 Silver IKE dollars and wants to also sell them. I didn't know much about the silver IKEs till a day ago but I said sure at the time if they all check out to be silver. So I do some research and found out they have to be mint marked San Fran and were special sets yada yada. I call him back and tell him that factoid and he was like hmmmm let me check them out. Turns out they are not silvers and that he bought them from a "friend" the day before for $2 each

Poor guy got robbed and I was the one who had to point it out to him. I felt bad.. but at least he made out with $225 on the JFK halves

Glad I did my homework. Speaking of which I just invested in a loop, silver test kit and soon a strong magnet to help on big buys. I don't want to be on the wrong end of a big purchase.

Cheers,
Henchman

[HPMBTT]

Glad to hear that you made out on the 90% coins. Yeah, those Ikes are only 40% when they are S-mint. Also, I believe the US mint made s-mint 1976 clad halves (Bicentennial), so keep that it mind too.

What kind of silver test kit did you buy? I also need to get a magnet as well, but haven't decided what I should get.

[Pennysaved]

Wow I need to move to where you are; if I put an ad for 26x face, I would be flagged down in a minute

[inflationhawk]

I will admit that I was guilty of something like this a few years ago when I first started coin collecting. I once paid $70 for $50 of Ikes on ebay. This was back when silver was well below $15/ounce. I was thinking I was getting some silver. I was foolish and embarrassed later, though it was a very small price to pay for being wrong. Actually, I kind of like having them now, if only to remind me to be careful when I am buying.