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Question about precious metals and the current market
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Author:  jlee5050 [ Sat Nov 20, 2010 2:22 pm ]
Post subject:  Question about precious metals and the current market
I've wanted to consult with some of the members here.

Long story short, I've collected quite a bit of coins from pre 1964 and as I've found out, all the coins have a good silver content to them (90%). I've got some Morgan dimes, Roosevelts, Washington quarters, Franklin half dollars, Kennedy half dollars, etc. Of course excluding the fact that some years are worth more than others, but I've gone through all of them already and none are in that category.

With silver prices at an all time high, do you think I should unload right now or just keep them? I've noticed the market's building some heavy momentum with even these "junk silver" coins right now. I've checked on ebay and a roll of dimes all pre 64' with a face value of $5 goes for on average $100 bucks... :shock: Anyone who's involved in the market will tell you the market is always speculation so I'm just trying to decide which way to speculate. :lol:

And no, advice telling me to cash out and put it towards a Breitling will not count. :lol:
Author:  mfserge [ Mon Nov 22, 2010 8:28 am ]
Post subject:  Re: Question about precious metals and the current market
I thought this question would get some responses. I also have a bunch of old silver coins and I'm curious to hear some answers also.
Author:  Roffensian [ Mon Nov 22, 2010 8:35 am ]
Post subject:  Re: Question about precious metals and the current market
I know a little bit about precious metals, but I know nothing about coins and I think that there are more variables on that than simple bullion prices.
Author:  mfserge [ Mon Nov 22, 2010 8:39 am ]
Post subject:  Re: Question about precious metals and the current market
jlee5050 wrote:
And no, advice telling me to cash out and put it towards a Breitling will not count. :lol:


That's the advice I'm giving myself! :lingsrock: If you find out any good info can you PM me? I'll do the same.
Author:  jlee5050 [ Mon Nov 22, 2010 11:19 am ]
Post subject:  Re: Question about precious metals and the current market
Well... all I've found out was that first of all, ebay does make a good gauge in terms of what the market will pay... (same goes for watches)

I've done some research and as mentioned before, in some coins the face value goes out the door as soon as you find one with a particular year (due to misstamps, different metal content, etc.)... the collector value kicks in and it becomes wayyyy more than its face value and metal content value. Many people also advise AGAINST precious metal buyers. (too many bad experiences and the middle man commission is too much)

I guess all in all I can do an experimental auction and maybe sell part (as in one roll) to see where the market will take it. Of course will have to do some more research as in where metal prices have stood before... apparently silver though is becoming the "new gold" due to its affordability. Wouldn't hurt to hold onto it but wouldn't hurt to sell it either, knowing that silver prices are at an all time current high. Decisions, decisions...

but all things aside, I'm not much of a coin collector, and the collection that I have were just loose pocket change accumulated over many years (used to work at my mother's convenience store and she gave me her collection as well) The good thing about US pre 64 coins are that usually you can tell them by looking at the edges... the silver ones are always white where the mixed coins are brownish. They also make a different noise when jingling with other coins too.

If I found out anything more I'll let you know serge.
Author:  MacApple [ Mon Nov 22, 2010 2:12 pm ]
Post subject:  Re: Question about precious metals and the current market
The market changes everyday so best bet is to wait til its high ,and set a good bin price on ebay. This whole gold/silver thing is a joke in my eyes. There is no shortage of Gold or Silver ,and the only reason its getting out of hand is because the dollar is worthless. Once gold hits 1500 AN OUNCE I am gonna sell my 100 grams worth of scrap gold I have. The silver coin market I dont know much about other than silver dimes are worth 10x face value. I sold 5 1922 silver dollars last year for 80$
Author:  jlee5050 [ Mon Nov 22, 2010 11:45 pm ]
Post subject:  Re: Question about precious metals and the current market
MacApple wrote:
The market changes everyday so best bet is to wait til its high ,and set a good bin price on ebay. This whole gold/silver thing is a joke in my eyes. There is no shortage of Gold or Silver ,and the only reason its getting out of hand is because the dollar is worthless. Once gold hits 1500 AN OUNCE I am gonna sell my 100 grams worth of scrap gold I have. The silver coin market I dont know much about other than silver dimes are worth 10x face value. I sold 5 1922 silver dollars last year for 80$


True that Mac... lately I have been feeling that it will only get a bit more worse than it will get better... and as long as the USD is losing its power... it seems everyone will jump on the gold/silver bandwagon...

as far as gold hitting the 1500 mark, you're not too far away...
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