by Recyclersteve » Wed Jun 12, 2019 1:10 pm
Ok saabman and others, I've got one for you.
I was traveling in the Cincinnati, OH area last Friday (back home now) and my wife wanted to go to the small town of Chillicothe, OH to do something. I was bored but needed to drive her, so I figured I'd stop in some local banks while there.
I went to 4 banks in town and got nothing. In fact, I was only able to get a single clad half dollar from all 4 banks. I figured I had a few more minutes before going back to pick up my wife so I tried one more bank. I walked into a PNC bank in Chillicothe and got a total of $56.00 face value in halves.
From that $56.00 I found the following:
(1) 1964 half dollar
(25) 40% silver half dollars
So 26 of the 112 half dollars (23.2%) were silver! It isn't over yet. I was literally headed to the Cincinnati airport yesterday, which is in northern Kentucky. I saw a jewelry store in northern Kentucky which had a sign saying that they buy gold, silver etc. I figured the guy would offer me some ridiculous price for the halves, but still decided to go in. It's a bit complicated, but I decided to sell only the 40%ers and hold back the 1964. He asked me what I wanted for the 40%ers and I replied "$3 each". I had seen him negotiate with the guy there before me and thought he'd try and counteroffer with something lower. Nope, he paid me $3 each for these! Coininfo.com shows these are currently worth $2.18 each. So, 25 halves that cost me $12.50 (face value) were sold three days later on the same trip for $75, a tidy profit of $62.50. Even my wife was impressed with that, and she is hard to impress.
Now an extra $62.50 isn't gonna make me rich or change my lifestyle, but experiences like this are fun and a good part of what keeps me going.
P.S. At the bank where I got all the silver I asked the first teller if she had any halves and she had 12 in her change tray. The lighting there wasn't the best, but it appeared that 1 or 2 could be silver. All 12 were silver! I then asked the teller next to her if she had any silver and she went into the vault and got 5 rolls ($50). From those 5 rolls I got another 14 silver halves (13 + the 1964).
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.