To sell or not to sell "junk" silver

gargoyle62

I finally found a thread where this discussion was taking place but I didn't gleen a definative answer anywhere in it, so I figured I'd start my own.....
Here's my personal situation: I have about $300 face that I've bought out from where I work (processing coin). I could definately use whatever money I can make off of it. (And it's fairly easy for me to get my hands on more as I see quite a bit on a weekly basis) So what do you guys think? Sell or no?
My other question is: to whowm? I live in a very small town in Central NewYork and am not aware of any coin dealers anywhere near where I live. Even if I can find one, what are the chances that they're gonna want to buy what I have at a fair price?
Hopefully y'all don't find these questions too trivial to respond to seriously. I realize we're only talking 100's of dollars here and not 1000's or more, but it's still an "investment" to me.
Thanks for the help.

Russ

Yes, sell it because silver is going down.

Russ, NCNE

Russ

No, hold on to it because silver is going up.

Russ, NCNE

LucyBop

what are they paying for silver coins now? how much times face value?

nankraut

IMHO, SELL!!!----or BUY!!!!

tedssupply

So any buyers out there? i also have my hands on a large lot of walkers,mercs,franklins,peace morgans ect........ where would be the best place to sell?
Thanks

NoGvmnt

If you can get it at face value (or close to) where you work and there is a constant supply, I'd reccomend that you sell it and use the gains to purchase more, then repeat, rince, repeat. You will achieve more profit by churning than you will by sitting on it.

Jim

coinnut86

I'm pretty poor and I was thinking about posting this in the other thread the other day, but then I remembered I'm poor, anyway I'm trying to fill a whitman with circulated washies. I was hoping to buy at the 1.76 melt value... I guess if someone wants to pm me they can, but I'm not sure if/how much I'll buy

08HALA20

It appears it is selling on eBay at 7x face

About $2100

Buy all you can at face value.

Sell or keep it don't matter When buying at face value.

Rookie Joe

tedssupply

I looked around. check http://mjpm.com/silver.cfm they are paying 6.70 per 1$ face for 90%'s for 250 face

KISHU1

I'm buying at $6.75 and look for silver to go up to $12

Frank

UncleWiggly

At $10 an ounce, a Morgan dollar has $7.74 melt value for the silver according to my Numismatic News Silver Value Chart. So, roughly 11 cents behind the spot is where Kitco buys. So, in my opinion, if you take your junk silver to a dealer, he will pay you less than a "junk silver collection company" will because they (dealers) will have to sell to them to make money. For what you paid for your junk silver a little bit of shipping $ won't hurt. I have never used these people but I plan to when silver reaches $15!!!



Jerry

michael

hold

unless you need the money

if you do not need the money then i would keep it

TwoSides2aCoin

I buy... to sell some, and I sell some to buy more , to sell... or not.
Life is so weird that way. It all depends, if ya know what I mean There is always some junk that ain't really junk !

tincup

If I needed the money for essentials.... I would sell. Especially since you will probably be able to keep finding some more at face value.

If I did NOT need the money for essentials, and did not have great financial pressures.... I personally would wait. Silver is very unsettled right now, and much is in place for potential large gains (but of course no guarantees!). Upside potential appears to be much greater than the downside. When silver does drop in price nowadays, it does not stay there for long. In a couple of days, it regains the loss and most likely keeps going higher.

Your decision depends on your own financial situation, and your willingness to take some risk. Those are things that we on the board cannot really answer for you, but can only respond from our own perspective.