POS/Price of silver... Update

[~gd]

I have seen the price rising. We bought some when it was around $35 an ounce. I was just wondering where is a good place to buy it.. I mean a place that dont charge way over spot price and has reasonable shipping rates..

You do know that "spot" is like wholesale? basically it is the price for multi bar lots of Metal. If you are selling small lots of silver you will receive LESS than the spot price and when buying small lots you will pay MORE than spot. The only way to beat the system is by not using the system...Try to find sellers (or buyers) that want to move small amounts and you both can deal closer to spot than you will be able to through the system. Coins usually have a known weight and purity which can be known by both parties which makes them handy for small trades. If you must deal in jewerly keep in mind that a lot of work went into the making of the piece and it MAY be worth more "as is" than as scrap metal.

As one that got burned badly during the Hunt Brothers disaster way back then. NEVER LET THE SELLER STORE THE METAL FOR YOU, either hire an independent storage service, a safe deposit box or dig a hole somewhere. The dealer I trusted was playing the market with our money and when we wanted to cash out (right before the bubble burst) he took the paper which was all he had into his suna and died while the paper turned into carbon monoxide to kill him! burn in Hell!

 

[Wannabefree]

If you have access to a scale that weighs in troy ounces, multiply the weight of the rings times .925 and then that number times the current price of silver. Ideally you should remove the pearls for the most accurate weight, but this will give you a general idea of what they are worth.

If you only have access to a scale that weighs in regular (avoirdupois) ounces, after weighing them, multiply the weight by .914458333 to get the troy ounce weight. Then you can multiply the resulting number by the price of silver.

Thanks I'll have to find a scale then...and the rings...I dunno where I put them

 

[old fashioned]

This last weekend DH scored at a G-sale. He found a tackle box loaded with silver solder (sp?), strands of wire, and other jeweler's stuff for only $5 Yee haw! Some of it may not be PURE silver, but there is definately more than $5 worth :bun

 

[MetalSmitten]

This last weekend DH scored at a G-sale. He found a tackle box loaded with silver solder (sp?), strands of wire, and other jeweler's stuff for only $5 Yee haw! Some of it may not be PURE silver, but there is definately more than $5 worth :bun

silver solder is ROUGHLY gonna be 60-76% silver, depending on what "hardness" it is, assuming it's hard solder and not soft (tin) solder. if it's on a little spool that says solder, it's probably tin and worthless, if it's very thin wire and/or sheet, it's probably silver. that's exciting, good find!

i've been excitedly watching the price fall these past few days (sorry everyone) - any educated guesses as to how long this'll last, and when i should stock up? i usually have to buy at least 12oz at a time.

 

[k0xxx]

i've been excitedly watching the price fall these past few days (sorry everyone) - any educated guesses as to how long this'll last, and when i should stock up? i usually have to buy at least 12oz at a time.

No idea. The margins for silver were doubled, as a way to bring the price back down. Where it ends up and how long it lasts is well beyond my knowledge base.

No need to feel sorry. I am thrilled to see the price drop and look at it as a buying opportunity. I know that it will eventually be headed back up due to continuing to decline of our currency.

 

[Wifezilla]

I would buy now. In my opinion the prices are just going to crawl right back up.

 

[THEFAN]

The price will go up for sure. We are in a cool down due to some elites trying to hedge against the next 6 months. Summer is going to get bumpy and hold on to your seats.

 

[Wifezilla]

Agreed

 

[Holachicka]

So... I have no experience with coins or metals... and I see that the price has dropped, but let me make sure I am understanding this correctly...

A little while ago the value of a penny, dated 1981 and earlier was $2.95?

and any silver coin dated 1963 and earlier is worth much more as well?

So sorry for stupid questions, just trying to get this all straight in my head!

I have a 1878 liberty dollar, and a 1973 kennedy half dollar any idea what these would be worth?

Also, where are you guys selling these coins?

Thanks for the help!

 

[Wifezilla]

The pennies that are higher value are 1982 or older. Those are actually copper. They are currently worth 2.7 each, not $2.95.

Dimes and quarters 1964 and older are silver. Dimes are now worth $2.85. Quarters are worth $7.13.

Your 1973 half dollar is worth 50 and losing value every day. If it were a 1965-1970 it would be worth $5.83 because it would be 40% silver. If it was 1964 or older it would be worth $14.25

Your 1878 dollar is worth $30.47

http://coinflation.com/

Some people sell them on ebay or to coin dealers. You will not get the full value if you go to a dealer. They have to make money too.

Many people are using gold, silver and other metal coins to preserve their wealth. Even if spot metal prices drop, the coins still retain face value.