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- - WEAR OF OLDER 90% COINS (http://goldismoney.info/forums/showthread.php?t=18400)

Pax | 02-17-2005 08:48 AM
WEAR OF OLDER 90% COINS Hi, I am new to the forum. I have been stockpiling old US 90% silver coins for years now. I do so because I believe at some point in the future the PTB will force us into a cashless economy and gold and silver will be a premium in the underground market. Not too mention an outright collapse of the economy as we know it due to a weakening dollar and high deficits and staged wars etc. Anyway...what concerns should one have regarding the WEAR of older US 90% coins. Does it really make THAT much of a difference. Ive been using .72 ounces PER ONE DOLLAR FACE to determine the worth of the silver content in these 90% coins. Is there a number that is factored in for wear, generally? Also what is the number for the 40% silver coins. is it .31 ounces of silver PER ONE DOLLAR FACE? I do sincerely appreciate any help you can offer me in these matters. I am also interested in people's opinions on WHY it is important to hoard silver and gold. What do you see happening that will make this decision a very wise one in the long run. Looking forward to this discussion unfolding. Thanks and have a wonderful day! Pax (peace)

Maple Leaf Steve | 02-17-2005 09:26 AM
Re: WEAR OF OLDER 90% COINS Stay away from the slick Walker halves if you can. Stick with 1964 Kennedy halves or Franklins. If you can get all 1956 to 1964 Wash. quarters then fine and stay away from the slick 1930 and 1940 era quarters. Thats the way I look at it... MLS

Bullionaire | 02-17-2005 09:34 AM
Re: WEAR OF OLDER 90% COINS In a bag of 1000 face silver, generally the wear factor is a non-issue. You have average condition coins, some with more wear than others. (end of discussion) Where the wear factor comes into play more often than not is generic silver dollars. Being a very heavily circulated coin, and carrying a higher numismatic premium, well worn out coins will be discounted. Coin dealers have categories such as "slick" and "culls" for these truly afflicted coins, and they trade at a discount...call your local coin dealer and ask for very worn out silver dollars and see what discount he gives in relation to the standard average circulated classification (vg-au)....gltu

AuNuggets | 02-17-2005 09:47 AM
Re: WEAR OF OLDER 90% COINS A general guideline for 90% "junk silver" U.S. coins is .715 troy ounces per dollar face value. This is the standard used in selling and buying bag quantities, 715 ounces per $1000 face value. Many of the larger dealers assemble their bags by weight rather than count. Kennedy half dollars are really the preferred coins as far as actual wear is concerned since these larger coins circulated much less than the smaller dimes and quarters. The '65-'69 40% halves, 1964 Kennedys, and 1960 or later Franklin bags usually have nearly their full original weight. On the dimes and quarters, later coins also tend to retain a higher percentage of their original weight obviously, because they were the "newest" when taken out of circulation.

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