Question about buying 90% silver coins

nam812

First of all I want to thank everyone for the help I've received up to this point with regard to precious metals. Learning this new field has been fun and exciting for me, and I hope it continues to feel like that for me for a long time.

I've been thinking about spending about $1,000 +/- on some silver, and was wondering if the 90% silver coins is a decent way to go. Would you buy 180 circulated Franklin halves that have a silver content weight of 65.1042 troy ounces for $1,260? At $18.49 an ounce the 180 coins have a silver value of $1,203.78 so $1,260 doesn't seem out of line (and 15% off the $1,260 with bing makes it even nicer), but my questions (looked at from a point of future resale) are:

How much does it matter that they are circulated?
Are 90% silver halves easy to sell at or near or over spot?
Should I just buy silver bars?

Please feel free to add comments and/or set me straight if this is a ridiculous idea on my part. Thanks in advance.

Nick

RedHerring

I like 90% silver coins. Many prefer bars and bars can be great for portablity and aesthetics.

Valuing 90% junk silver is quick and easy. Just take the Face Value X Spot Price X .715.

$100 in Franklin halves at spot of $20 would then be: $100 X $20 X .715 = $1,430.

Pre-1965 U.S. silver coinage has universal recognition and can often be purchased in VF/XF condition as junk. Roosevelt/Mercury dimes, Washington quarters and WL/Franklin halves can be found in decent shape being sold as "junk". The Mercury dimes and Walking Liberty halves are very nice for the price.

Good Luck!

TomB

I have quite a bit of bullion silver in the form of uncirculated rolls of Roosevelt dimes and Franklin and Kennedy halves while another decent percentage is made up of circulated rolls of Washington quarters and Walking Liberty halves with the remainder largely in the form of American Silver Eagles and Mexican Libertads. Others prefer to hold bars of silver while still others like silver rounds. I do not mind that silver coinage has neither its weight nor finess marked on the piece since I have widely recognized US coinage. Additionally, rolls of coins make for easy accumulation in smaller quantities and are also relatively easy to sell if one only wishes to part with a minor amount of metal. When I buy rolls of circulated coinage I attempt to get coins that are high grade circulated such that the Washington quarters are generally EF or better and the Walking Liberty halves are VF or better. It would seem to me that few others store bullion in the exact manner that I do, but most share at least a little bit of an overlap with my strategy.

To answer your questions, I prefer to buy solid date rolls of uncirculated Franklins at melt, but this is not always possible. If given a choice at the same price between moderately circulated Franklins or uncirculated 90% Kennedy halves then I would choose the Kennedy halves. Half dollars are a popular way to store bullion and they are relatively easy to buy and sell near their bullion value.

57loaded

i would try to get 1960-1964 mintages

Kennedy's being the best if you can get them at a decent price (one YOU are happy with)

as said most folks will know the values of 90% and if ever needed for barter, it will be very well received