"What's buried in a pickle jar in your backyard?"
Did you look at www.apmex.com for pricing ?
Buy a roll or rolls of pre-1965 silver dimes and quarters. Not much numismatic value, but they are easily recognizable and accepted. If the SHTF you might have trouble getting change for a Kruggerand if you want to buy basic items.
It’s all a rip off no matter where you go. They are buying them for like 6-7 dollars for half dollars and 12-13 dollars for silver dollars.
Hi.
Imho, it is a good idea to develop a relationship with a dealer in coinage, gold, silver and other types of assets.
Purchase in cash, in increments of less than $10k.
Also be armed.
Have a safety deposit box, or and the ability to secure the assets “locally.”
Enjoy.
5.56mm
Slicks are worn-down (normal) silver dollars.
Locally the best price I can find to buy new silver coins (American Silver Eagles and similar) is $4.00 per ounce above the spot price of $17.56 per ounce, or junk silver coins at about 6% over the spot silver price. The price you’re being quoted sounds good, if those are one-ounce (silver content) coins.
Note: I am not in any way advising that you make this purchase, just comparing it with my local prices.
For single coins just use coin flips.
Gold Eagles are sold the same way.
APMEX is good for gold and silver eagle but check eBay too.
Just make sure you have a reputable dealer on eBay.
Had good luck buying Eagles and pre 65 silver coins on eBay.
Stay away from Morgan and Peace Dollars unless you collect them. Too much of a premium for bullion needs and there are Chinese fakes on eBay.
I’ve found that buying the 1/10 oz. gold coins (US) are much easier to store, carry and stash than the 1 oz. variety. Making change wont be as bothersome either should the occasion ever arise.
I’ve gotten the silver 1oz. inventory down to about 550-600 coins. Woeful to store and/or carry in large amounts. Tryin’ to go to all 1/10 oz. gold coins.
Almost all of my transactions have taken place at Coin/Gun shows in CASH. VERY good deals !!!
Well, before I lost them all in that horrific boating accident on Lake Tillery . . . . . such a shame.
Yeah, I buy silver dollars "in bulk," by the cubic yard.
we are precious metals dealers
if your buying for silver content and value you dont want anything with copper in it ?
why dont you buy silver bullion rounds 1 oz each
should cost maximum of 1.5 over spot currently 17.57
should be no more than 19.07
ampex is a dealer to public ,,, we buy at elemetal for .55 cents over and sell for 1.5 over
or buy 100 dollar bags of 64 n older us coin
if you reply I will look later to find you the best deal
do some research into elemetal and ampex
paying 20 for silver dollars is paying numimasmatic value
i asume you want silver value and all you can get for the money ? buy one ounce bullion in rounds or bars
jm is also real good
"What's buried in a pickle jar in your backyard?"
Opinion: I consider silver dollars to be just about the WORST single way to acquire silver. If you want 10 or 20, have at it. There are lots of disadvantages.
First, they are and have been very widely counterfeited by the Chinese. This presents an insurmountable issue on turn-in/sale.
Second, non-numismatic ones aka junk silver always bear higher premia than dimes or quarters or half dollars wrt their silver content.
In US SDs (Morgan & Peace) there are so-called “key dates”-—they were made for about 55 years at (up to) 5 mints (P, D, S, O, CC) and that’s 5 * 55 = 275 possibilities but not all those years 1873-1928 were made at all 5 mints so I am going to guesstimate there are maybe 180 mint/year possibilities = pure guess. Only about 20 mint/year combos are rare and with metaphysical certainly I will guarantee you that you would get NONE of those in any bulk buy. Then there are about 20 mint/years that are “kinda rare”. You won’t get any of those either.
Of the non-rare types, most were made (and...melted down) in GARGANTUAN quantities, many years well over 100 MM minted. 1921 Morgans are almost considered a joke. Peace dollars were minted in giant qtys. There are many many years in the 1880’s and 1890’s when huge volumes were made. Those are what you’d get. They have NO NUMISMATIC VALUE except maybe a $1-2 over spot silver whereas dimes and quarters can occasionally be bought at or under spot.
They are neat coins. If you want ten or twenty, that’s fine. I have 100-150 of them. When you have lots, you put them away. You don’t see them. Thus they are not “neat” any more.
Bump
If you want to invest in gold or silver, buy bullion coins, such as those issued by South Africa, Mexico or Canada that go for just slightly over the price of their weight in the medal.
Collectables of any kind are only good investments if people are actively collecting. If the economy tanks, then they have little liquidity at a “collectible price.”
Just don't forget to pay the person when they show up with your exercised contract ;)
You can also go to AMPEX and buy 1000 oz silver bars for a few hundred bucks over spot. Expensive vs the above strategy, but hey, you wanted an opinion. Click here.
If not, get peace dollars and junk silver for fun.
To SteveH:
I believe US Mint now distributes silver eagles in 20 coin plastic sleeves. This is how I’ve been spot purchasing these sleeves from internet sellers like AMPEX, govmint, etc. I try to pay about 3-3.5% over spot price including shipping for quantities of 20, one sleeve. The US Mint is always sold out, so I go through distributors. Be picky on price, there are many sellers and watch spot market price. Also, pre-silver eagles, US Dollars are NOT one oz silver. They are ~83% of an oz and 10% copper. That’s why the sometime green patina on older silver coins. From 1986, Silver Eagle Bullion Coins are 99.9 Silver and 1 oz.
You really have to watch it, both buying and selling. It's important to know what your silver is worth when you sell it. Otherwise, you'll be ripped off. Coinflation is a real good website to find the value of 40% and 90% silver coins.
Most of my good information about precious metals, I've gotten from Freepers. Almost everyone trying to "sell" you is bad news. If anyone tries to sell you "pirate gold" or "coins that can only increase way beyond their metallic value" is ripping you off. If the deal were so great, why would they let you have them at an "unbelievable price" rather than keeping them or selling them to friends and loved ones?
Someone on this thread gave you the advice of having old silver coins that are 90% silver. That's real good advice. Having a roll or two of forty 90% silver quarters can't hurt. It's what I concluded after investigating this subject. As that poster said, they're easily identifiable, and if you know their value ahead of time, they should always be a good way to get cash or something bartered for them.
Hope that helps. I'm not an expert. This is what I've picked up over the past three years, trying to develop an understanding of coins, money, and precious metals.
If you just watch Fox Business, they have a running list for Gold and Silver .. the price goes up and down hourly. Better to find someone you know who can recommend a good broker .. because if you want to get rid of some coins, you will have to go through a broker to get the cash.
Not everybody knows how to deal with gold and silver. Choose someone close to where you live, who has a good track record. Be careful.
The “California buy $1500. in bullion coins = no sales tax” part is correct. I haven’t been to my local dealer (http://fresnocoin.com/coins-currency-metals/) to check “price-over-spot” lately.