should I buy a gem bu roll of
 

should I buy a gem bu roll of Peace dollars for $360?

I visited the local coin shop for my first time ever yesterday with the intent to buy some physical silver. Jim Cramer recommended I start buying silver at $12 and I bought 1000 shares of SLV last Friday at $11.95. I have read on this forum to buy physical.

The coin dealer knows that I'm a newbie. He really tried to push a roll of Peace dollars on me that he had just bought. He said they just came in on Friday and they wouldn't last long. $360 for 20 mostly 1922 and they all look brand new.

Should I go buy them Monday morning or should I buy more SLV?

thanks

Re: should I buy a gem bu roll of
 

I would wait on both. Maybe consider selling SLV @ $12.95 and taking your profit of $1000. Silver could go higher in the short term but it could also drop back down. Remember the saying, "bulls make money, bears make money, and pigs get slaughtered". So it might be wise to not get greedy.

Re: should I buy a gem bu roll of
 

On 3/5/2008 silver reached a high of 20.83 an oz.
Gold was $989.40 on that date according to my spreadsheet.

It is only a matter of time before silver overtakes this high point.

Physical silver is hard to come by these days.

$360.00 for 20 BU Peace silver dollars sounds like a good deal. Pay with Cash!

I would stay out of that stock market! (Paper Trails Galore!)

MLS

Re: should I buy a gem bu roll of
 

$18 each isn't a great deal. With ~ 24 grams of silver in each, paying $18 for each 24 grams would be like paying $24 an ounce.

Apmex has AU Peace Dollars for $16.99 each:

http://www.apmex.com/Product/10870/1...irculated.aspx

Or just pick up 21 SAE's for $16.96 :)

Re: should I buy a gem bu roll of
 

Just a hint SLV and GLD are not YOU holding bullion in your own hands.

Many think that the DEEP CUSTODIAL gold and silver might come out of SLV & GLD by a quick law or bill.

Like they did in Argentina with the IRAs and 401s - which is a govt. grab too ...
forcing a BUY only Treasury debt with them.

Be careful out there it's a true jungle. And the monkeys in congress are grabing all the banana brains in paper. Bananas = :banana:banchabancha

Re: should I buy a gem bu roll of
 

If you're going to spend $360, why not use it on 0.999 silver? There may be a reason the dealer is pushing it on you....quick and easy profit, and he may know that you're a newbie. Either way, if you're going to spend $18 per, then do ASE's or Maples so that you get 20 oz of silver instead of roughly 15 with the Peace Dollars.

Re: should I buy a gem bu roll of
 

If my local dealer had 20 BU Peace dollars for sale for $360.00
I would buy them in a heartbeat!

Why?

No State Sales Tax on the purchase! (But there might be a state sales tax in the near future with all these state governments going broke!)

No handling & Shipping Charges.

No Paper Trail.

The Government will not know that I own them after I buy them.

They have collector value which in the future increases their bartering value.

Within a year Israel will attack Iran.
Then Gold will hit the roof and Silver will follow Gold upwards.

He who hesitates is lost!

MLS

Re: should I buy a gem bu roll of
 

That is about the going rate on ebay for original rolls. Since only most are '22's, I suspect the best coins were probably removed from an original roll. I myself do that, but like to purchase 2 rolls to maintain a solid date roll. The advantage here is you can inspect the coins to make sure they are well struck, minimal bag mark coins, and (heaven forbid) NOT dipped.

The disadvantage is that, being a newbie, you might not be able to determine if they are "gems".

If you had various slabbed coins to compare them to, that would be very educational, as well as helping you decide.

If he thinks you might be a solid future customer, he might set you down with the roll, some gloves, and a few various slabs and say "Have a look" - which would be pretty damn cool. I invested in my own "slab sets" before I started buying rolls.

Re: should I buy a gem bu roll of
 

I am going to respectfully disagree. If TSHTF, who is going to care if the Peace Dollars are BU? Numismatic/collector value would decrease in a true SHTF scenario wouldnt you think? Or are you going to propose that people invest in numismatics right now to hedge against a currency collapse?

Re: should I buy a gem bu roll of
 

In a SHTF scenario the Peace Dollars are real silver coins minted by the U.S. Government.

That 10 oz. or 100 oz. silver bar that you own is possibly heavy silver plate over lead.

Or are the bars real? Who knows?

In a SHTF scenario I don't want you guy's heavy silver bars!
In a SHTF scenario silver bars 10 oz and larger become almost worthless.
It is sort of like owning Palladium after the SHTF.
Most people don't even know what Palladium is.

Whatever the case is... After the SHTF I don't want you guy's heavy silver bars!

Get'um out of my face! :wink:

I will trade you for your Peace Silver Dollars however!

Get my point now?

MLS

Re: should I buy a gem bu roll of
 

I still don't see why its better to buy .74 ouces of silver for $18 that to buy 1 ounce of .999 silver (ASE - also minted by the government) for $16.96.

Don't get me wrong, I like peace dollars. I picked one up on ebay for $10.50 last week, but $18 seems high for what you're getting (compared to other rounds).

Re: should I buy a gem bu roll of
 

While I agree with you on a somewhat personal level, if silver became the trading medium, you'd think 1 oz. of generic silver would be worth more than the .77 oz of silver in a peace dollar.

Then again, they don't make any more (authentic) peace dollars. The upside from a collector standpoint (especially true gems - and only paying $18 per) and the potential decrease in generic silver needed in industry (economic slowdown - which we are seeing) does make it a tough call. If I could look at these coins and I felt there were some "slabbable" (is that a word)? coins, I'd buy them.

Re: should I buy a gem bu roll of
 

i vote for buying the american eagle silver coins versus the peace dollar.



not that anyone asked for my vote :moon:

Re: should I buy a gem bu roll of
 

When investing in precious metals it is sometimes best to get "the stuff" in your hands as soon as possible while sacrificing a few dollars.

Here is the 4X Factor when investing in Precious Metals...

.999 Silver Bullion one ouncers
90% U.S. Silver coins
.999 Gold Bullion one ouncers
90% U.S. Gold coins

Stay Diversified!

MLS

Re: should I buy a gem bu roll of
 

My first thank you delivered to you because some base bullion guys need to see some of the upside of your post. Now I gotta go back to some of the other threads of the past few days and do some thank yous.

Re: should I buy a gem bu roll of
 

I am 100% on board with getting silver while it's cheap. However, I am going to point out that in post #6 I talked about getting ASE's and Maples (1 oz silver items) and made no mention of 10 oz or 100 oz silver bars. ASE's and Maples are govt issued items, so again why get 15 ounces of silver for $360 when you can get 20 oz?

Or to take it a step further, why not buy 24 circulated Peace Dollars at $15/each for a total of $360 versus 20 UNC ones at $18/each.

Do you get my point now?

Re: should I buy a gem bu roll of
 

This makes the most sense to me as well.

You are better off wasting some time prospecting for 90% then buying it,
unless it is a really great deal.

I say buy what will get you more silver!!!

Re: should I buy a gem bu roll of
 

Ding ding ding...we have a winner!

Re: should I buy a gem bu roll of
 

Total silver value is $199.40.

Statistics: From CoinFlation

There are 15.469 troy ounces of silver in 20 silver Peace dollar(s).

Each Peace dollar contains 0.7735 troy ounces of silver and is valued at $9.97 when silver is at $12.89 / oz.

A roll of Peace dollars has 20 coins and is valued at $199.40 when silver is at $12.89 / oz.

Re: should I buy a gem bu roll of
 

Right, so he wants 360 - 160 over coinflation which I might add is hard to get their suggested price on sale from local dealers.
In fact, the more bulk 90% you sell at a time to a company like APMEX the higher they pay. Yes it is true.
Good luck on getting 360 on resale - even if spot goes up a buck or two - unless the coins are slabbed (which costs money) or you are selling to a numismatist who will care that they are UNC.

Sounds to me like grandpa brought in that roll and got raped on it by the coin shop, now he's trying to turn a cool 200 + profit on to you.
never fall for phrases like "they won't last long" you can easily get Peace dollars from dealers like the afformentioned.

don't get me wrong I love peace dollars, but you can even buy the "Peace dollar Rounds" for less FRN and net more AG!

Re: should I buy a gem bu roll of
 

I don't know if anyone here has calculated what you make prospecting, but unless you are terribly lucky, it cannot be that amazing - but it might have some "fun" time involved.

Of course you are going through circulated. Gems are rare enough in original rolls. I once bought an original roll, found 5 really nice gems (Franklin halves) and sold those 5 for the price of the entire roll. 15 choice uncirculated for no dollars.

If you've never donned gloves and gone through a BU roll of Mercs, Morgans, Walking Halves, and/or Franklins - do it.

Re: should I buy a gem bu roll of
 

Here -
360 / 14.51 = 24.8 Rounds

http://www.coin-rare.com/silver-bullion-rounds.aspx

Re: should I buy a gem bu roll of
 

Read through the "Prospecting for 90% Silver" thread and you will see some pretty amazing scores!

Yes it takes time and dillegence...

My last "wash" of 40% to 90% netted me an EngelHard Loaf bar for 160

I save the 90%- Walkers - Bennies - Barbers & Kens.

Re: should I buy a gem bu roll of
 

It would take 32 Peace Dollars to match the amount of silver in the above 24.8 .999 silver rounds.

� There are 24.7504 troy ounces of silver in 32 silver Peace dollar(s).

Re: should I buy a gem bu roll of
 

I have. For all of the "amazing" scores, however, there is time involved. Count the times you are empty handed and I figure below minimum wage for your efforts - unless you get lucky a couple of times. If I could score $15 an hour after my time and effort, I might consider prospecting - and that's a lowball figure for my time.

Re: should I buy a gem bu roll of
 

Right-

it is time consuming... For me it has been worth it. You learn to take the good with the bad.

Usually something is pulled. My last noteworthy score was 5 Walkers no rolls gone through, the teller just had them.
10 minutes spent- "You never know"

I would say your $15 per hour could be met. That is around 3 90% ers.

However, don't start on my behalf! More 90% left in circ for us!!!:coolbeer::applause_:beer:

Re: should I buy a gem bu roll of
 

I recommend a 20 ounce roll of generic silver bullion for $300 for less. Yesterday a local shop had rolls for $290. With the remaining $60-$70, you should be able to get three or four nice Peace dollars. Best of both worlds!

:beer:

Re: should I buy a gem bu roll of
 

Actually, you've got me really curious. I work in a 20 story building and the building name is the name of the bank which is the cornerstone. I'll be down there tomorrow (since I work M-F) to get halves. I only keep a few k it that particular bank, but how much silver do you figure I will get tomorrow if they have 1k of halves to give me?

Re: should I buy a gem bu roll of
 

$18 for Peace dollars even if they are gem bu is more than I'd pay, I, like others here, would go with either SAE's or Maples or just generic Ag and get more bang for the buck

Re: should I buy a gem bu roll of
 

I wouldn't, but that's just me. What are you wanting to accomplish, just acquiring silver, or looking at numismatics? If ozs of Ag is your goal, there has been plentiful, good advice in the above posts. If numi is your bag, then $360/roll might be a good deal, if they really are gem BU (which can mean different thing to different people). See if your coin shop guy has any graded MS-60 Peace dollars and compare them to this roll.

Re: should I buy a gem bu roll of
 

1000 = 2 boxes (500 face each box) 50 rolls x $10 a roll = 500

That being said, most banks I have been to (and others on GIM) seem to not have boxes in stock because 50 cent pieces are basically not used anymore.

I personally have had more luck with loose rolls than with boxes. I have also slowed my prospecting a bit recently due to my time being spent on other necessary things. (so this may change)

If you are in a city, I have heard the odds of them having 1/2s are greater,
thus, increasing your chances of finding some 90%

Most likely if this is a big branch they will have some 1/2s tucked away in the vault that have since been forgotten about & they will be happy to give them to you. (tell them you are a collector - not about AG)

ANYWAY, I'd say you are at least going to find 1 to 2 if not more 90% coins per box and a bunch of 40% Kens. I am lowballing this. Also it is only an opinion.

This could be drastically different and you may come across a roll or two that is all 90%. Likewise sometimes you find nothing. It's a gamble. But it can pay. If appx. 3 1/2s = 1 oz AG an oz. will cost you 1.50! as well as feed your addiction!

Please let us now what happens in the prospecting thread!
Also I think that when starting out you get to the point where you are ready to quit, then, hit your first BIG score...

Sorry to be off topic, hope this helps.

AGRO-

Re: should I buy a gem bu roll of
 

Don't purchase coins with numismatic value attached to them unless you are familiar with the grading system. If those coins are all problem free, Gem BU Peace Dollars then $18 is a good price. If on the other hand, they are AU/BU coins that have been dipped then $18 is no great deal. A good rule of thumb for these peace dollars as well as most other collectibles.

Re: should I buy a gem bu roll of
 

If they are BU and you are buying to hold long time not a bad buy.

Some day you will get a hundred bucks for each coin.imho

If you need food old farmers know what silver dollars are and you will eat.

Most people know what silver dollars are and they like them.

Re: should I buy a gem bu roll of
 

Personally, I'd just buy .999, good 90%, or VG-VF peace dollars for cheaper. I'm not really a fan of numismatic dollar coins personally.



Strictly from a financial sense, unless you can average at least 5 per $500, it probably isn't worth it for you. If you fnd 1 90% and 4 40%, that's worth $13. Maybe it'll take you an hour to do $500 if you have to roll them back up. You might be better off working an extra hour at your job and buying the silver (assuming you have a job)Many people do it as a hobby though, and not so much for the income. From what I understand, it's "normal" to find 1-2 silver halves per $500.

As far as how many you can average in your particular area, YMMV and luck has a lot to do with it. Not only you visiting the "right" branch, but the teller you're interacting with, the person who's thinking of rolling their halves & trading them in, what you say to the teller, the particular box that the vault teller pulls for you, everything comes into play. I recognize that my personal finds are "abnormal" and won't last given the speed I'm drawing down the halves from my bank. Once their gone, I'll be dealing with A LOT of skunks from the other banks.

Re: should I buy a gem bu roll of
 

Agree with what you say here, but why spend $18/each on UNC Peace Dollars when you can get circulated ones for $15/each or less. Wouldnt it be smarter to get more for the $360 if the intention is to use them for the purpose above?

There's nothing wrong with uncirculated Peace Dollars but if one is buying them for the purpose to protect against TSHTF, then I would presume that a circulated coin would serve just as well as an uncirculated one. In that case, one would be better off with 24 of these at $15/each (or some ASE's at $16/each or generic .999 rounds at $15/each). Those 4 extra silver dollars could come in handy if TSHTF.

Re: should I buy a gem bu roll of
 

I agree....believe it or not, I was torn when I first read this because I do collect numismatic items as well as hoard. But the common sense side of me tells me to do what you say (and what I have suggested elsewhere in this thread echoes what you suggest). So for numismatic purposes, it may be a good deal (would need to see them individually and not rely on the dealer saying they are BU), but for survival purposes just so so.

Re: should I buy a gem bu roll of
 

I would think he is buying for more than a shtf?

You get what you pay for and in time he will get more bucks for the BU than he would get for the circulated coins. imho

I agree but he asked coins or stock. I would buy the coins (not the stock) maybe try to talk the guy down a few bucks.

Re: should I buy a gem bu roll of
 

I would not give any predictions on what you will find. Where I live the main banks downtown don't have any boxes (I thought they would till I went and asked every one). But since you have some money in the bank I would think that the vault teller would be willing to order you a couple boxes (25# each, keep that in mind), you may be in a productive area and beginners luck may smile on ya. Spending money on money is a good thing, means your only out time and energy if it doesn't pan out. HH Mark

Re: should I buy a gem bu roll of
 

Yeah, in a way, I hated saying it. I always find myself interested in numismatic items, then have to tear myself away from purchasing it. But to satisfy myself, while the bulk of my stuff is bullion, but I do make numismatic purchases every so often. My biggest recent numismatic type purchases are the UHR gold eagle & pre 1933 gold.

Using this rationale, perhaps he would be satisfied with purchasing 1-2 gem BU peace dollars and using the rest of the money to buy various types of silver. That way, he still gets a sample of BU silver dollars (which originally interested him) and he can discover which form of silver might interest him the most & best serve his purposes (whatever they happen to be).

Re: should I buy a gem bu roll of
 

I like that idea alot. He gets the best of both worlds that way. It would be so much easier for myself if I could settle on one focus instead of being torn between the two, but it's kind of fun too. :emotions16:

Re: should I buy a gem bu roll of
 

Thanks for clarifying this a bit,

I didn't want to give an estimate, but, I feel it was low enough to not get too excited or upset about!

Re: should I buy a gem bu roll of
 

DUDE!

Any luck???

Re: should I buy a gem bu roll of
 

Too busy today. I will let you know.