Posted on 04/21/2011 10:02:55 AM PDT by SeekAndFind
Regards,
Raven6
I picked up 6 Morgan dollars...1890ish...for $18 several weeks ago...I think I’ll sell them tomorrow....will make a little on them....
what do people think about saving coins for collectors?.....if everyone and their brother are selling gold and silver for their bullion value, then the remaining coins might just skyrocket in price because there are so few left...
You’re welcome. I’d hang on to it for now. It’s liable to be worth a good bit more in the not to distant future.
I like to use this illustration with people: I have a stack of 10 Morgan silver dollars. I let people hold them in their hands and tell them that this is what, when I was in high school (I graduated in 1972) people put into vegas slot machines. They were worth a dollar and they were everywhere. The stack they hold in their hand was worth ten dollars.
Then I tell them that the stack has the same value now as it did then. It will make just as many rolls of film. Just as many electrical connectors, etc. However, people think it is worth more because they compare it to something that has been collapsing in value since 1972: US dollars.
That same stack of silver coins that I could get at the bank in 1972 for 10 dollars will now fetch $415. Think of that. A currency that has collapsed from $10 for the coins to $415 for the coins in less than 40 years. And to make matters worse, most of that collapse has been in the last couple of years. That is called exponential collapse.
And you think the last couple of years were bad? See what the future brings. The fundamentals are all there.
Side note: Compare the profits made by two men, one who bought $10,000 of gold in october of 2008 and the other who bought $10 of junk silver in 2008. The latter has seen his investment increase in value four fold while the former only saw a twofold increase.
And I still think silver is an absolute steal!
I’ve bought several proof sets at antique stores for melt value (at the time). I considered the penny and nickel as a free bonus. Oh, and melt value was between $22 and $26 when I bought them all.
I cleaned out the “junk” at an antique mall in Kentucky because he was still valuing it at about $26 melt value while the current price was in the mid-$30 range. I wish I had cleaned it all out. It was only about $450 worth that I actually got, and another $300 or so left, but still...
>Hey Grandma, thanks for saving those.<<
My dad quit smoking in 1965. Every time he “would have” bought a pack of smokes he put a half dollar in a jar. I remember him taking out a big wad of them, putting them in a bag, and asking me to put my hand out and see how long I could hold them. It was disgustingly heavy and I couldn’t do it.
My dad and I were discussing silver a few months ago, for obvious reasons, and I found out he STILL has all the silver he bought for those two years after he stopped smoking! But he has been buying junk silver for years now, usually in $1000 face value lots, and always local.
Here’s the funny thing. He was just an electrician for boeing until he retired about fifteen years ago. This silver thing happening right now is pretty cool to him, and he is not even a little surprized. :)
That’s what I’m thinking.
It’s almost identical to the one you posted BUT... it doesn’t have a date stamped on the shoulder as the others do.
In place of the date, “one TROY ounce” is stamped on the shoulder.
I checked your link as well as 5 or 6 other sites and haven’t been able to find it.
Silver is a very nice way to store wealth but takes up a lot of room.
At what prices did you sell?
Hint, what do you think the next precious metal to attract attention will be?
Looking at the ratio charts, and listening to the conventional wisdom, when gold equals platinum, trade your gold from platinum, because platinum always pulls away from gold soon after parity. A good way to double your holdings in a few years.
My brags are getting 1/2 ton of lead (mostly precast as bullets, with the ideal alloy) for 1/4 of the lead spot price, two years ago. And getting hundreds of pounds of copper, ad once fired cartridge casings in popular calibers, for about 20% of melt value, and out a year ago, at a garage sale).
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