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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (49335)	4/2/2002 11:10:57 AM
From: Wharf Rat	Read Replies (2) \| Respond to of 65232

Junk silver, at least in numismatic/investment terms, is plain old silver coins, pre 1964. Dealers sell them by the sack or by the roll, depending on how many you want. The price is basically the price of silver plus a bit to the dealer for his troubles. My local daily carries the price of a bag in amongst the spot metal prices. Just because it is considered junk doesn't mean there is no numismatic value there. Coinman thought most of his stuff came from thefts and old timers dying and their change jars cashed in. Some may come from people selling into the market. We found some uncirculated stuff while his machine was counting dimes, and I saw some merc dimes in there. Someday, if I get bored, I may go to the bank and get them out and check for numismatic value. It's possible that there are S mints there, because that was our local mint, and they were the rarest of the 3 mints overall, but the most common out here. Junk prices tend to be about the same. I just went to the closest store, which was an hour away. I think that any savings I might have found by shopping around would be eaten up by gasoline or shipping costs, and, ...I be lazy, too. I would have gotten a better price Fri, but just couldn't motivate mice elf to go down there. My guy is probably a small size dealer, even tho he was taller than me, so he didn't have a big supply, so maybe I have cornered the market?? Naw, too early for that. I think it is possible to use this stuff as collateral for cash to buy more (margin, by any other name), but I don't go there. The gold and silver Am Eagle coins I picked up for my daughter are probably junk, even tho they are uncirculated, because they really have no value to collectors at this point, other than the metal price. Down the road 100 years, coins from the 1999s may have numismatic value, but most of them will still be uncirculated, unless the doomsayers are right and we use them as cash. I don't know what name I would apply to silverware, bars of silver, etc. Maybe junk. My understanding is that they need to be assayed and ?? B4 you get $ for them. Definitely value in silverware. I knew a guy who picked it up cheap at auctions, etc because "those aren't my initials". Sundance