I think I might have screwed up today???

[mbailey1234]

I stopped by a coin shop when I was out and about today to see what they had and I was going threw a box of wheats he had out on the counter. He asked how many I wanted and I asked him how many do you have? He knew he had 4 bags "in the back" but didn't think he had a full 5 bags. So I ask how much he wanted for them. We had been talking silver so he said I would take $30 FV of that 90% you were talking about for $200 in wheats. I didn't have the 90% with me and don't get to this town very often so I kind of blew him off. I got to thinking about this on the way home and that was a pretty good offer wasn't it?

He did say they hadn't been gone through and considering there were several pre 1930's in the box on the counter I guess I should have cut deal???

So did I miss a good deal?

[theo]

I can reliably sell my common, 1944 to 1959 wheats for about 3xs face. That would equate to about 20 x face for your silver. It might go as high as 22 x or 23 x depending on the number and condition of the pre-1940 wheats. That could be a decent deal for you, but I wouldn't lose any sleep over passing on it. You have to wonder why he is willing to part with so many unsearched wheats for your silver. Considering the possible shortage of 90% silver, I think you are better off with the shiny stuff.

[PennysaverCP]

30 FV X 22.6566 (today's melt) = $679.70 for $200.00 in wheats = 3.3985 cents for each wheat
If there were some older wheats in the mix it would be a good deal. If not so-so I would say.

[mbailey1234]

I guess I thought even the common dates would be worth $0.05 each but maybe that's high. That being said, if he ran them through an auction I wouldn't be surprised if they got close to 20% so for him to just dump them and get some 90% (that he has been out of for close to 2 weeks) he knew what he was doing.