Archive for the “Junk Silver Coin FAQ” Category
Question by Pietro: What coins should I buy for my collection?
I'm 25 years old, and recently I decided that I needed a hobby. So I came up with the idea to start a coin collection. I've been buying U.S. Silver Dollar Eagles (some slabbed some not), old Morgan Dollars, and 90% pre 1964 silver coins (junk silver).
I've been going to all of the local coin shops trying to find a dealer that I can trust. Well, today I went to a coin shop that I had never been to before. He gave free appraisals, so I decided to stop in to see what he thought of my collection so far. I explained to him that I was relatively new at this. Upon looking at my coins, he said that I had been overcharged because basically all of my coins were only worth melt value. It was very discouraging.
My question is; what coins should I buy in order to have a collection that I can be proud of? a collection that will hold it's value? A collection that one day will be profitable?
Should I only buy slabbed coins? which ones? What silver coins should I buy? what gold coins should I buy? He said that I didn't have any "special" coins? what did that mean?
Here is what I have managed to buy in one month:
slabbed 1986 Silver Eagle MS69
2008 Silver Eagle
1oz silver bullion bar
1 oz silver philharmonic 2008
1902-o Morgan Silver Dollar VG
1902 Morgan Silver Dollar VF
1901 Morgan Silver Dollar F
3oz of pre 1964 90% junk silver
1913 Type1 Buffaloe Nickle
1905 5 piece cent
Can somebody please help guide me in the right direction! Tell me what I should be looking for, and what I should be buying?
Thank You
Are there any books that you would recommend?
Best answer:
Answer by BD in NM
There is an old adage in the hobby that says; "Buy the book before you buy the coin." In other words educate yourself a little bit and you will enjoy the hobby better. Get a copy of the Red Book as a basic reference book, join a local coin club and maybe even join the ANA.
Your local coin dealers should know how to contact a local coin club and the ANA website is money.org.
As far as what to collect, that is more of a personal decision. You could try to put together a type set which would let you collect a sample of many different coin types. This would give you a feel for what is out there and what is not. Once you have narrowed down your interest you could focus on that coin series or type.
I actually have several different coin collections that I work on at different times. I focus on Lincoln cents but have a type set I am working on and also collect Confederate currency. There is also the coin that is just cool and interesting that I will buy every once in a while.
Don't let the dealer discourage you. It sounds a little like he was trying to get you to keep coming back to his shop with a negative comment about the purchases you made at the other dealers. Most dealers are pretty straight up and will deal fairly with you. Just remember they can only offer you wholesale prices when you sell to them. They are in the business to put bread on their table and can't do that if they are buying at retail.
In the end a little education will help you spot someone who is being straight up and someone who is not.
Most important have fun.
Know better? Leave your own answer in the comments!
OLD US JUNK SILVER COINS **4 oz LOT pre-1965, readable dates, INVEST IN SILVER**
LOW PRICED - Lot Old US Junk Silver Coins 1/2 POUND LB PRE-1965 Readable Dates
1/2 Ounce US 90% Silver Coins Half Dollar Or Quarters & Dime Not Junk Lot # 752
Originally posted 2010-07-14 16:49:23. Republished by Blog Post Promoter
1 Comment »
Question by mike h: silver investing, best method?
Is bullion silver a worthwhile investment? Are bulk "junk" silver coins better, I've read a few things that say yes as they could be used as legal tender? Lastly, I found a site Monex (dot) com, that sells silver bullion, rounds and "junk", are they a good company?
I would rather have metal in hand than stock certificates.
Thank You
** Is there a better (cheaper) way of obtaining silver than through Monex?
Best answer:
Answer by jkrd156
The silver coins would be the better investment if you actually have them in hand. They can be used as legal tender especially when the world economy crashes and anarchy is the rule of the land. But remember, the banks will collapse so putting them in a safe deposit box will make them inaccessible. Invest in a Glock or a slightly used AK 47 so you can safely keep them in your closet next to the MRE's
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COMPARE! DECENT LOT US JUNK SILVER COINS 1/4 LB PRE 1965 READABLE DATES FREE S+H
GIANT BULLION MONSTER LOT FREE S+H 5 LB US JUNK SILVER COINS WITH READABLE DATES
Lot of 40 U.S. Washington quarters 90% silver coins junk scrap bullion NR
Originally posted 2010-07-03 06:00:19. Republished by Blog Post Promoter
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Question by Bonnie: How do I find the value of silver coins if I want to cash them in and get what they are worth?
Best answer:
Answer by Regular Guy
There are a million online charts for the value. You could check ebay and see what the same coin is up to in the bidding. Lastly, go to the library or a bookstore and either checkout or but the coin guide. Good Luck!!
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Lot of 40% Silver Coins face value $4.50 eisenhower,kennedy,washington,wartime
Lot of 10 Silver Coins Silver Face Value $1.75 Barber Quarters, 1917-S Dime ++
US COIN COLLECTION, ALL SILVER COINS!! FACE VALUE OF $1.60! with BONUS SILVER!!
Originally posted 2010-09-19 09:30:16. Republished by Blog Post Promoter
3 Comments »
Question by rockparadox420: where is the best place to buy 90% silver coin bags besides ebay?
I want to buy some of the older coins in bulk for my collection and dont want to deal with ebay.
Best answer:
Answer by Taiping
EBay would not be the best place anyway. The coins may be culls which are low grade circulated coins that are not collectibles and have less silver due to wear. Finding a good dealer on line is a hit and miss thing unless one has done mail order with them before. With silver as high as it is one is not really going to get any deals at least on the silver part. It is true some collector coins that do not have a high collector value may head for the melting pot. Such coins are late date low grade, walking liberty 1/2's, as well as maybe the silver 1982 Washington 1/2 commemorative. I would try a couple of local coin dealers. Remember only the common older coins will be there not early ones for there vaules are still high enough, at least for now.
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10 coin grab bag of silver coins
(20) 1 oz. INTERNATIONAL COIN GRAB BAG OF SCRATCHED SILVER .999 OR BETTER
40% Junk Silver $50 Bag 100 Coins1965-1970 Kennedy Halves Perfect to Barter With
Originally posted 2010-06-18 16:31:35. Republished by Blog Post Promoter
2 Comments »
Posted by junkgurl in Junk Silver Coin FAQ, tags: bunch, cleaning, dollars, found, grandfathers, house, lots, much, silver, them, worth
Question by Andreu: How much are a bunch of old silver dollars worth found lots of them when cleaning out my grandfathers house?
How much are a bunch of old silver dollars worth found lots of them when cleaning out my grandfathers house
there from
1881,1882,1887,1888,1900,1901,
1904,1921,1922,1923,1924,1934
its 300 + of them i stopped counting
and there is a 5 pesos Mexican coin its the same size as the US silver dollars its from 1948 and is made of silver
about half of them look brand new and the others look black on the front and back but silver colored on the sides
nobody knew they were there not even my grandfather we found them in the back of a dresser and they had to be there for the past 25 years i dont know how long he had them before that
about 50 of them have a s mint mark on them
i dont remember the rest of them i got tired of looking at them
Best answer:
Answer by Rosie
I'm not to sure about it..but you have a lot of money into those coins.....do you want to keep them?...if not put them on e-bay for auction..but before document yourself on the value of the coins
What do you think? Answer below!
1948 Cuauhtemoc Mexico 5 Pesos - .900 Silver 30 grams Net wt.
1948 Mexico Silver 5 Pesos
1948 Mexico 5 Pesos .900 Silver Coin
Originally posted 2010-11-13 13:48:12. Republished by Blog Post Promoter
5 Comments »
Question by Eclipse Girl: Can anyone tell me how much I could sell these Mexican Coins for?
1948 5 pesos 30g Mexican Silver Coin
1987 Juarez Mexican Silver Coin
??? Thanks
Best answer:
Answer by liberty 911
A 1948 Mexican 5 Pesos contains 0.8681 troy ounces of silver which is currently worth about US, and the coin is worth only slightly more than that. 1987 Mexican 50 Pesos is only worth US even if like new. These are retail prices, and a coin dealer would pay wholesale prices. The Mexican Peso was devalued in 1993, so the coins would be worthless as currency if you tried to spend them in Mexico today. I hope that helps.
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1948 5 PESOS MEXICO SILVER COIN UNC
SILVER Coin 1948 MEXICO Mexican CUAUHTEMOCS 5 Pesos 30 grams .8681 oz BEAUTIFUL
1948 Mexico 5 Pesos .900 Silver Coin
Originally posted 2010-07-30 08:35:37. Republished by Blog Post Promoter
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Question by lilacgirl16: Is it better to sell old silver 50 cent pieces by the coin or silver weight ?
and should I go to a coin dealer or a silver exchange store
Best answer:
Answer by Paul
I'm by no means an expert on coins, but I would guess by the coin would get you more money. I would think that the rising price of sliver would form a base value for the coin itself, but then there would be an added value due to it being a coin. In other words, I don't see how the coin would ever sell for less than the value of silver in it. If the coin is in very poor condition, you may not find any coin buyers.
Then again, a penny is actually worth almost .02 in copper, but it is illegal to melt it down.
What do you think? Answer below!
Bank Sealed Unsearched Half Dollar Roll 50 cent Pieces *POSSIBLE SCRAP SILVER*
1964 Silver Canadian Half Dollar (50 cent piece) Estate Item
U.S. Ben Franklin Half Dollar 50 cent piece silver coin 1957 uncirculated
Originally posted 2010-09-22 11:51:30. Republished by Blog Post Promoter
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Question by Preston: what is the price of my silver quarters?
I have 40 silver quarters and have no idea if they are worth anything.
Best answer:
Answer by hmm
0 I believe, it's about .3 per silver coin.
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US Coins Lot of 2 Silver Standing Liberty Quarters 1925 & 1926 #K510
US Coins Lot (3) SILVER WASHINGTON QUARTERS #K65
lot of silver washington quarters see pic for dates
Originally posted 2011-03-09 04:47:08. Republished by Blog Post Promoter
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Question by s s: does ,10,20,50 silver coin pesos &100 gold coin peso have any us dollar value?
Best answer:
Answer by I. B. Zoxx
Mexico coins dated 1991 and earlier are no longer redeemable. Mexico remonetized in 1993, and 1000 old pesos became 1 new (current) peso.
Here is a link to the Banco de Mexico web site, with photos of obsolete coins:
http://www.banxico.com.mx/sitioingles/billetesymonedas/didactico/coinsManufactFeaturesHistory/exchangeableCoins/exchangeableCoins.html
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PHILIPPINE ISLANDS: 1936, 2 PESOS SILVER CERTIFICATE, P-82
1963 - SILVER COIN - Mexican Un Peso - Mexican Silver Dollar - (Made 1957-1967)
1966 - SILVER COIN - Mexican Un Peso - Mexican Silver Dollar - (Made 1957-1967)
Originally posted 2010-11-22 23:01:31. Republished by Blog Post Promoter
2 Comments »
Question by ale: Are there Machines to dectect junk Silver Coins?
I know when you go and dump change into the coin star machines they can detect coins that are junk silver. Are there any coin sorting machines where I can insert rolls of quarters or dimes to sort which ones are junk silver ?
Best answer:
Answer by gooeyjim
Probably not. Just any coins before 1965 except nickels and pennies are junk silver (in the U.S)
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Roll Of 40 Junk Silver Washington Quarters Junk Proof And Circulated Quarters
Originally posted 2010-11-11 11:59:05. Republished by Blog Post Promoter
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