today's coin buys at a shop 1/12/7
 

Today I went to a "collectibles" shop I hadnt been in before. Strewn with junk and crap, he had an interesting coin collection. Mostly coins in the square white holders with plastic circles, what the heck do you call those holders? Anyways, here is what I bought

one morgan 1889, no mintmark, on the good side of very fine I'd say, both sides. $22

one 1881 silver coin from Mexico, called a "cap and ray" I believe, because it has a cap with the word "libertad" on it with rays of sun coming out from behind the cap. $18, acc to the guy it was made of .903 silver, and I read an article today that confirms that. , nicely toned, quality is probably fine. says "8 R" on it which I imagine means 8 reale.

one mercury dime, 1939 D, looks like solid AU to me or better. $5.

I gave him cash and he charged me sales tax on all that-- which kind of surprised me. I didnt dicker with him, since I stayed late in his shop asking him to show me grading differences on various types of coins, which he happily did. I felt the trip was worthwile.

whatch'all say bout dat? I

Re: today's coin buys at a shop 1/12/7
 

Re: today's coin buys at a shop 1/12/7
 

I'll see what I can buy Morgans for tomorrow at a coin show I'm going to. It's a pretty big show so you can get good deals.

Re: today's coin buys at a shop 1/12/7
 

I dont know why you are buying peace and morgans. They have lost LOTS of their value in the past 3 months and continue dropping!!

I also wouldnt reccoment buying stuff you dont know about because you could get burned bad!

Re: today's coin buys at a shop 1/12/7
 

I think that is not a real good way to buy silver. Do you own a Red Book?

The 1889 no mint mark is one of the most common Morgans. I take those and flip them in the air and beat on them just for fun all the time. The one I play with most is a 1885.

I just will not buy coins like that today.

Re: today's coin buys at a shop 1/12/7
 

Where exactly is the documentation for that? My graded Morgans have gone up and down a couple of dollars here and there with the price of silver but, NOT LOTS!!! In general, they have gone up slightly or stayed the same........according to APMEX, Greysheet and PCGS.

What big drop have you seen?

Re: today's coin buys at a shop 1/12/7
 

Im not talking about graded coins here. Morgans and Peace graded probably will not lose their value very fast becuase there is such a limited number that remained in good conditon

Im talking just general silver dollars. They were going around $2-$4 dollars over silver ounce spot price (even though they contain around .77 of an ounce Just 2-4 months ago. Now i can go to all my local coin shops and get them for like $11-$13 for the basic ones and higher for the better coins ($2 lower to even with silver ounce spot prices)

I talked to my local dealer and he says that he tries not to buy morgans and peace anymore becuase the intrest isnt really there and he had a LOT come in. I talked to another dealer i deal with and he says that he doesnt really have that many but he doesnt buy very many because the price is dropping fast on them.

Re: today's coin buys at a shop 1/12/7
 

If that is true....you should buy all you can afford from your "local coin shops" and not look back....10 years from now Peace and Morgans will go for huge premiums....

BTW, how often do you see BU rolls of Mograns or Peace coming thru your local shops?....not very often I'd wager.:wavey:


As of now....silver value equals $9.88. $1-$2 over spot for a 100-year old piece of American history??? Ther is no other bargain I can think of that compares to that!!!

Re: today's coin buys at a shop 1/12/7
 

Sales tax on a cash sale? Not this girl.:hahaha:

Re: today's coin buys at a shop 1/12/7
 

Re: today's coin buys at a shop 1/12/7
 

I was able to get Morgans at the coin show today at 12 to 13 dollars each for common date fine coins. Pease dollars I got for 10.50 each, all other 90 percents could be gotten for 8.5 times face.I bought 1 ounce Engelhard bars and 1 ounce Hecla mining rounds for 13 bucks each. Plus I got 1 quarter ounce Gold Eagle for 160 dollars.

a small premium is rightful thanks for a pleasant experience
 

No coins shows round here lest I got to Chicago, maybe I will end of April there's a show. Local shops, maybe 3 of them, I've hit 2 so far and the prices are high, no doubt. I went there with intention of reconnoitering it and picking up something I liked, and I did, and I have no problem with the dude making ten bucks off of me or so. For all the time in there I spent yakking with him, it was a pittance.

Now for a small casual purchase I'm not going to nickel and dime the chap by whipping out my list of prices and dickering with him right there. I'm aware of better deals because I read these coin mags, and I was aware they were high prices when I bought them.

Anyhow, I had fun, and the expenditure was at least as amusing as the crap I bought at Border's afterwords for $40. After that I caught a workout and then cruised back home. It was a pleasant and relaxing saturday.

I can tell you that picking up a coin mag and buying crap on the cheap is not really all that much fun. There is something really thrilling about looking the items over in person. I am looking forward to my first bourse, that will certainly be an experience to remember.

Re: a small premium is rightful thanks for a pleasant experience
 

You might have some nice coins there Anty, no doubting that. I just wanted to let you know what I paid so you can use as reference.Those Hecla mining 1 ounce rounds I got are proofs, they were sealed in holders but I just finshed opening them up so that I can stack them up.

Re: a small premium is rightful thanks for a pleasant experience
 

I am amazed that you are getting peace dollars that cheaply. I have looked through hundreds of ads on the net and in print and don't see them come close to that unless they say they are junk, ie, cleaned and scratched, etc, and even then they go for more. Whats your source? Same thing mercuries-- I see people selling them even in crappy condition for a lot more than 8.5 face. Not even 9x, which is what I saw somebody else say in a thread yesterday.

Dont be a miser with your sources, folks, if you got a good lead clue us in.

Re: a small premium is rightful thanks for a pleasant experience
 

I go to this particular coin show once a month so I am friendly with some dealers there, plus over the last 10 years I have exchanged plenty of cash for chunks of metal with them. Don't get me wrong there are some dealers there who are selling at higher prices but I walk by them. I think you have to go to shows, cause it's more competitive for the dealers. Those peace dollars I got are in fine condition, has a rim and image is very good.

Re: a small premium is rightful thanks for a pleasant experience
 

gotcha. I figgered that; as I'm in this shop asking myself, when these local little coin shops got this pittance of coinage and gold and silver laying around, how ever do they pay the rent with this kind of low margin low volume bidness? must be that the prices "on the surface" of the market are not what's being paid. initially I thought this market had a thin gap between retail and wholesale but now I'm beginning to wonder.

Re: today's coin buys at a shop 1/12/7
 

Nine ounces silver 5 SAE's various dates, 2 prospector round, and 2 plain silver .999 troy ounce rounds, average cost per oz was $13.22.:bandit:

Re: a small premium is rightful thanks for a pleasant experience
 

Also the dealers I buy from know I have no interest in buying numismatic so I don't get caught up in high markup stuff. I don't buy fugly stuff just regular bullion stuff.

Re: a small premium is rightful thanks for a pleasant experience
 

Nice latemetal, more metal in strong hands. thanks.

Re: today's coin buys at a shop 1/12/7
 

I live in Iowa. No sales tax on coins or Bullion!!!!:banana: :banana:

If you think about it....its still legal tender so can that really be taxed???

The law just past here in iowa about 3 months ago. Saves me lots of money :)





Ill stick with buying other coins and straight bullion in bulk :)

Re: a small premium is rightful thanks for a pleasant experience
 

If you are happy with your purchase, then it was a good purchase, all that matters is that you are content with what you bought. Yes you have paid a high preium for what you bought, but that is second to the buying and your enjoyment you had. Use it as a learning tool and it is not wasted.