Anyone Collect Silver?

[nosniboR11]

cost dollar average it

[blackbeSSt]

doug i think you're missing my point. am i saying that silver is worth more then gold? heck no. but for the availability (600 halves over a 3 year period and thats just me finding them), and price on return on the lot of them, its a lot better to the average collector. and i'd say its about 70/30% on the amount of 40/90% silver halves i find.

again, if you buy gold you are buying it at current market price. if i buy 90% silver halves im still paying .50 a piece when they are actually upwards of $4.

[itchypickle]

I don't quite get your meaning since silver is not used in circulating coinage.

nickels are an excellent item to hold at face value, BTW. they have a lot of metallic value. They were worth 10 cents a few years ago. It is illegal to melt them, but who cares ?

CALCULATING TODAY'S MELT VALUE (USD)
Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:

$3.2799 = copper price / pound on Aug 12, 2010.
.75 = copper %
$9.6721 = nickel price / pound on Aug 12, 2010.
.25 = nickel %
5.00 = total weight in grams
.00220462262 = pound/gram conversion factor (see note directly below)


The NYMEX uses pounds to price these metals, that means we need to multiply the metal price by .00220462262 to make the conversion to grams.



1. Calculate 75% copper value :

(3.2799 × .00220462262 × 5.00 × .75) = $0.0271156


2. Calculate 25% nickel value :

(9.6721 × .00220462262 × 5.00 × .25) = $0.0266538


3. Add the two together :

$0.0271156 + $0.0266538 = $0.0537694




$0.0537694 is the melt value for the 1946-2010 nickel on August 12, 2010.



← Calculate the value of your own coins.

My fingers gravitated to there own brain for a second..didn't mean to type 'silver' but nickel...my decision to load up on a few nickles from the bank is based on the commodity value rising...not the nominal value of the coin itself....think back to dime before the early '60s The investment now is for long term...if it breaks even...it breaks even...but think it will give a profit. It's discretionary money I paid for them with anyhow...so win win for me

[Doug]

doug i think you're missing my point. am i saying that silver is worth more then gold? heck no. but for the availability (600 halves over a 3 year period), and price on return on the lot of them, its a lot better to the average collector. and i'd say its about 70/30% on the amount of 40/90% silver halves i find.

again, if you buy gold you are buying it at current market price. if i buy 90% silver halves im still paying .50 a piece when they are actually upwards of $4.

I understand that you get the silver for face value. I used to do search rolls myself in the late 70's, early 80's with success. My mother was a bank teller and often got silver coins for me. I've tried it a few times in the last few years without getting a single 40% half. 90% of the time the bank has no halves.

Before 1980 ( when Silver hit $50) more like 1977. Silver was worth about 3X off face value and 40% was like 1.5 X face. One could speculate in silver by buying a bag ( $1,000 face value) of 1965-69 Kennedy halves for maybe $1400-1500 and if silver went South you still had $1,000 no matter what.

An honest dealer would pay about 12X face value for 90% now, so your halves are worth $6 each.

After further thought, I have figured out why you are getting some silver in the rolls. A few years ago ( say 2004 or so) your $1,000 order of halves would most likely be 100 rolls of uncirculated 2004 halves.

The half dollar coin no longer really circulates anymore. I'm not sure what year this started but the mint stopped making the coin for circulation, however they continued to make them for sale to collectors at a premium. They can always make more whenever the need arises, but little need for a coin nobody uses anymore. Usually somebody receiving a half dollar saves it a drawer at home.

With the economy tanking, some people cash in these hoards ( with some silver ones in it). The banks send them back to the gov't because they don't want to deal with halves at all if possible. They usually get their wish....until a PIA customer ( you) wants halves.....the $1,000 minimum and we will order them line will deter most people.

You are now getting older coins that have been redeemed recently instead of brand new production ( which doesn't exist). It's a product of the bad economy and people not knowing about Silver. I assume you take the non-silver halves and deposit them at some other bank, so you don't spoil the supply at the bank that orders them for you. That other bank surely hates "that A-hole that brings in $1,000 in halves at a time".

[mr. leisure]

Here's a calculator that figures the silver value of US coins

http://www.coinflation.com/coins/silver_coin_calculator.html

an honest dealer would pay around 90% of what this says.

This is just the metal value, a coin can also be rare and have a numismatic value above that,but almost all modern stuff ( post 1940) is "junk silver". It's not even worth looking at silver Roosevelt Dimes, Washington quarters, Franklin and Kennedy halves for rare dates. Earlier stuff like Mercury dimes and Walking Liberty halves are worth looking through.

Thanks for posting this calculator

[Doug]

My fingers gravitated to there own brain for a second..didn't mean to type 'silver' but nickel...my decision to load up on a few nickles from the bank is based on the commodity value rising...not the nominal value of the coin itself....think back to dime before the early '60s The investment now is for long term...if it breaks even...it breaks even...but think it will give a profit. It's discretionary money I paid for them with anyhow...so win win for me

OK so you are hoarding nickels for their metal content then ?

worth 5.4 cents in material right now. Somewhat similar to holding silver coins in the late 60's when you could get them readily at face value.

Silver is legal to melt, nickels are not ( and not profitable, yet). I don't think most of us care about laws, though.

Copper pennies ( pre 1982) are worth double face value, BTW, but less than 5% of current circulating cents are copper....they are copper-coated zinc since 1983

[blackbeSSt]

I understand that you get the silver for face value. I used to do search rolls myself in the late 70's, early 80's with success. My mother was a bank teller and often got silver coins for me. I've tried it a few times in the last few years without getting a single 40% half. 90% of the time the bank has no halves.

Before 1980 ( when Silver hit $50) more like 1977. Silver was worth about 3X off face value and 40% was like 1.5 X face. One could speculate in silver by buying a bag ( $1,000 face value) of 1965-69 Kennedy halves for maybe $1400-1500 and if silver went South you still had $1,000 no matter what.

An honest dealer would pay about 12X face value for 90% now, so your halves are worth $6 each.

After further thought, I have figured out why you are getting some silver in the rolls. A few years ago ( say 2004 or so) your $1,000 order of halves would most likely be 100 rolls of uncirculated 2004 halves.

The half dollar coin no longer really circulates anymore. I'm not sure what year this started but the mint stopped making the coin for circulation, however they continued to make them for sale to collectors at a premium. They can always make more whenever the need arises, but little need for a coin nobody uses anymore. Usually somebody receiving a half dollar saves it a drawer at home.

With the economy tanking, some people cash in these hoards ( with some silver ones in it). The banks send them back to the gov't because they don't want to deal with halves at all if possible. They usually get their wish....until a PIA customer ( you) wants halves.....the $1,000 minimum and we will order them line will deter most people.

You are now getting older coins that have been redeemed recently instead of brand new production ( which doesn't exist). It's a product of the bad economy and people not knowing about Silver. I assume you take the non-silver halves and deposit them at some other bank, so you don't spoil the supply at the bank that orders them for you. That other bank surely hates "that A-hole that brings in $1,000 in halves at a time".

exactly. people are hurting and will pull out any kinda monies they can especially at laundromats, car washes and gas stations. those business in turn don't pay attention to the coins and take them to said bank. of course the bank sure as crap isn't going to look through them so off they go to the feds. and lord knows no human hands touch those so they get re-rolled and sit waiting for me to order and unwrap them

im in the richmond district and my dad is in the atlanta district. so if i know i am heading to their place for the weekend i'll get him to order me some

[Doug]

Gotcha. Thanks for the correction. I just buy BU. .999

It doesn't matter if you hold .900 coin silver or .999 silver. BU ( brilliant uncirculated) means nothing as all the ASE's will be BU as a non-circulating coin. It is basically the same thing and both are dependent on the metal price. No way does one tank while the other soars.

[Doug]

exactly. people are hurting and will pull out any kinda monies they can especially at laundromats, car washes and gas stations. those business in turn don't pay attention to the coins and take them to said bank. of course the bank sure as crap isn't going to look through them so off they go to the feds. and lord knows no human hands touch those so they get re-rolled and sit waiting for me to order and unwrap them

im in the richmond district and my dad is in the atlanta district. so if i know i am heading to their place for the weekend i'll get him to order me some

The key factor is that you are not getting boxes of new coins. You probably didn't know that they don't really produce the JFK half anymore, except for just a few million a year for collector sales.

[JRS21386]

I agree. I also go for bullion and not proof. Just for the metal. You will pay alot higher premium for proof struck silver

[blackbeSSt]

The key factor is that you are not getting boxes of new coins. You probably didn't know that they don't really produce the JFK half anymore, except for just a few million a year for collector sales.

yeah i knew they haven't produced them in some time but didn't know when. there was a stretch where every time i ordered they were ALL like 2000 i think. i thought me and the other searchers had sucked them dry! but alas we hadn't and they started rolling in about 10-15 per box

[Doug]

I agree. I also go for bullion and not proof. Just for the metal. You will pay alot higher premium for proof struck silver

If the silver price gets high enough the stuff gets melted ( what you want anyway). A proof weighs no more than a non-proof.

In 1980 silver hit $50/ troy ounce....lots of proofs were melted and stuff like Grandma's tea set, even original BU bags of silver dollars. It turned out to be the correct move.

Don't buy the proof stuff.

[Doug]

yeah i knew they haven't produced them in some time but didn't know when. there was a stretch where every time i ordered they were ALL like 2000 i think. i thought me and the other searchers had sucked them dry! but alas we hadn't and they started rolling in about 10-15 per box

I could find out the year, but who cares ?

[JRS21386]

You know alot Doug. You prolly have thousands of ounces of silver hidden in a bunker somewhere. Lol

[Doug]

doug i think you're missing my point. am i saying that silver is worth more then gold? heck no. but for the availability (600 halves over a 3 year period and thats just me finding them), and price on return on the lot of them, its a lot better to the average collector. and i'd say its about 70/30% on the amount of 40/90% silver halves i find.

again, if you buy gold you are buying it at current market price. if i buy 90% silver halves im still paying .50 a piece when they are actually upwards of $4.

A quick calculation...

180 halves at $6 is $1080
420 halves at $2.50 is $1050

$2130 - the $300 FV is a profit of +$1830.

How many hours did you spend making that $1830 ?

I'll bet you're happy with the hourly rate.

[Doug]

You know alot Doug. You prolly have thousands of ounces of silver hidden in a bunker somewhere. Lol

I know a lot about US coins, ignorant on a lot of stuff though.

[Doug]

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[a7]

[blackbeSSt]

A quick calculation...

180 halves at $6 is $1080
420 halves at $2.50 is $1050

$2130 - the $300 FV is a profit of +$1830.

How many hours did you spend making that $1830 ?

I'll bet you're happy with the hourly rate.

surprisingly i could go through a box pretty quick. i didn't have to look at date. i just unwrapped and looked at rim. even the 40%'ers stood out like a sore thumb

[dinaro7]

i have alarge collection of morgan silver dollars all in excellent contest but only worth the silver

[JRS21386]

Nice Dinaro

[Doug]

surprisingly i could go through a box pretty quick. i didn't have to look at date. i just unwrapped and looked at rim. even the 40%'ers stood out like a sore thumb

Easy as pie. There is no visible difference between a 40% and 90% half from the rim. I can't tell a 1964 half from a 1969 half from the reverse, I don't think anybody can.....unless the 1964 half was minted in Denver, then there would be a "D" on the reverse, later moved to the obverse in 1968. There are no rare dates to be looking for, just a rim check and re-roll the rejects.

[Doug]

i have alarge collection of morgan silver dollars all in excellent contest but only worth the silver

Actually worth a bit over silver, like maybe $2 a coin over melt if they are common.

Most are in excellent condition, coin didn't circulate well. Many dates are more common in uncirculated condition than circulated.

[blackbeSSt]

Easy as pie. There is no visible difference between a 40% and 90% half from the rim. I can't tell a 1964 half from a 1969 half from the reverse, I don't think anybody can.....unless the 1964 half was minted in Denver, then there would be a "D" on the reverse, later moved to the obverse in 1968. There are no rare dates to be looking for, just a rim check and re-roll the rejects.

shiiiit! i always told them to fill out a fed bag and i would put the loose ones in there instead of re-rolling! of course they trust me enough to do it so im good.

[dimon]

so guys, how you actually go and buy silver half from bank?....you just need to order a box, and hope to find some silver half in it?

[blackbeSSt]

so guys, how you actually go and buy silver half from bank?....you just need to order a box, and hope to find some silver half in it?

boxes come in $500. feds require them to order a minimum of 2. so you have to atleast shell out $1000. and some banks might charge. but other then that yeah just hope there are some in there!

[mr. leisure]

I bet if you lived in vegas you could get rolls right from the casinos.Alot of poker rooms still use halves for the rake .

[Doug]

shiiiit! i always told them to fill out a fed bag and i would put the loose ones in there instead of re-rolling! of course they trust me enough to do it so im good.

I never tried to buy more than a few hundred at a time when I was a kid in the late 70's, so it was re-roll them time, still pretty easy with a few dozen rolls at most to deal with. The banks might have a counter nowadays, esp. if it is a commercial bank. I'd never bring them back to where I got them.

[Doug]

I bet if you lived in vegas you get rolls right from the casinos.Alot of poker rooms use halves for the rake .

I used to sometimes see a silver half in the rack, but I'd never ask the dealer to fish out that different looking one. I have got a few that way though.

[JRS21386]

I just go to Coin Dealers or search Ebay.. You can get some good deals depending on when you search

[Manaconda]

i got a buddy who cold calls elderly people selling ben franklin half dollar rolls, i never woulda thought a telemarketer could make as much money as those guys are right now, its crazy

[ZBOIZ]

JRS haven't seen you around in a while

[JRS21386]

That seems manipulative... Lol

[JRS21386]

I know ZBOIZ! I been makin that $$$

[THE PROFIT]

very informative thread! good info

[JRS21386]

I thought that alot of good came from it.. Thanks guys!