Quote:
Originally Posted by btcarfagno
David...where is the best place to buy junk Morgan silver dollars in bulk? I have seen them on Ebay in 100 count lots go for like $18-19 each, but if silver is at $14 I am reticent to pay that much. Is there a better place to buy it cheaper?
Tom C
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Tom,
The site in my signature line is a great place to buy junk silver (from individuals, not dealers). They have a great B/S/T section and members earn feedback from their transactions.
I think junk silver is going for about 12X to 13X FV (face value) right now, so it seems to me like you could buy a Morgan in the $12-$13 range. I don't buy much junk silver, so I may be off a bit, but I think I'm pretty close.
If you're seeing them on eBay in the $18-$19 range, it's either way overpriced or maybe the coins have some collector value???
Other than that, I don't have any sources for junk silver. I buy mostly bullion and I get it from SilverTowne.
www.silvertowne.com
My personal favorite are 1oz silver bars (in lots of 5, 10 or more)...
http://www.silvertowne.com/p-23736-s...-bar-10pc.aspx
I like 1oz bars because I think the'll be easier to sell when I am ready. If the price of silver went back to $48 an ounce, it stands to reason that 1oz bars would be easier to sell (open to more buyers - maybe in small lots) rather than trying to sell a 100oz bar @ $4800 (which would eliminate many buyers just because of the price point).