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Silver dollars for fun
Posted on 12/27/18 at 3:59 pm
Posted on 12/27/18 at 3:59 pm
I buy 10-20 one oz silver coins a year because I like them. Not an investment for me but I figure my grand kids will split them when I and old or gone.
Is this a waste of money or a decent chunk of change for them some day?
Is this a waste of money or a decent chunk of change for them some day?
8
Posted on 12/27/18 at 4:01 pm to Peking Grillards
Well it all depends on how much you buy them for.
Posted on 12/27/18 at 4:16 pm to Peking Grillards
Silver is only worth how much fear might be in the market.
I prefer buying 19th century silver coins including half dimes (what nickles were called in the 1800's and before), dimes, quarters, half dollars and dollars. I prefer "O" minted coins, as in minted in New Orleans.
Remember the building on the edge of the French Quarter near the river is called the "Old Mint" for a reason and it AIN'T because of mint juleps.
I prefer buying 19th century silver coins including half dimes (what nickles were called in the 1800's and before), dimes, quarters, half dollars and dollars. I prefer "O" minted coins, as in minted in New Orleans.
Remember the building on the edge of the French Quarter near the river is called the "Old Mint" for a reason and it AIN'T because of mint juleps.
Posted on 12/27/18 at 9:10 pm to Peking Grillards
I buy 10 ounces of silver a year for my son. He just turned 4. I plan on teaching him about money and investing with it. It'll appreciate but its purpose is more of an education on money.
Posted on 12/27/18 at 9:20 pm to Peking Grillards
My dad gives my daughter one every birthday and Christmas.
Posted on 12/27/18 at 10:54 pm to Peking Grillards
I bought a few hundred bucks worth of American Silver Eagles a while back, just for the hell of it. I figure somebody will get a kick out of finding them in the safe after I’m dead.
We also buy current-year Eagles and give them as small gifts to nieces and nephews. I figure they will sell them in their teens to buy weed or beer.
Value depends solely on the price of silver. They sell for spot price of silver plus a premium, and the shops will buy them for spot price minus a bit. The shop gets money on the coins coming and going, so they have to go up quite a bit for you to make a sale profitable.
I’ve also bought a few of the commemorative coins. They are also a crap shoot, but depending more on the desire of buyers than the value of the metals. Some are never worth more than the price at release, but others get hot with collectors.
I’m counting on my US Marshal commemorative set to pay for a few lunches at Piccadilly after I retire.
We also buy current-year Eagles and give them as small gifts to nieces and nephews. I figure they will sell them in their teens to buy weed or beer.
Value depends solely on the price of silver. They sell for spot price of silver plus a premium, and the shops will buy them for spot price minus a bit. The shop gets money on the coins coming and going, so they have to go up quite a bit for you to make a sale profitable.
I’ve also bought a few of the commemorative coins. They are also a crap shoot, but depending more on the desire of buyers than the value of the metals. Some are never worth more than the price at release, but others get hot with collectors.
I’m counting on my US Marshal commemorative set to pay for a few lunches at Piccadilly after I retire.
Posted on 12/28/18 at 6:10 am to Peking Grillards
I enjoy collecting Morgan silver dollars. As previously said, the “O” mint marks are my favorite. Slowly working on the whole set of those.
Have a little junk silver quarters, dimes and half dollars in case TSHTF.
Have a little junk silver quarters, dimes and half dollars in case TSHTF.
This post was edited on 12/28/18 at 6:11 am
Posted on 12/28/18 at 6:25 am to Peking Grillards
JM runs a deal about once a week with 10 ounces at spot plus free shipping. Hard to beat for buying small quantities.
Posted on 12/28/18 at 6:52 am to Bullfrog
The most common varieties of Morgan silver dollars, including several "O" dates (1884, 1885, 1901, 1904) can be bought for $40-$55 in uncirculated condition. Not expensive if you're putting together a collection.
If you're investing in silver (a good idea considering that silver is scarce, and useful in many industrial and medical applications) you should consider buying silver one-ounce bullion coins. Only $15-20 each and beautiful, you can put together a collection of these as they've been made every year since 1986.
If you're investing in silver (a good idea considering that silver is scarce, and useful in many industrial and medical applications) you should consider buying silver one-ounce bullion coins. Only $15-20 each and beautiful, you can put together a collection of these as they've been made every year since 1986.
Posted on 12/28/18 at 7:41 am to tarzana
You are absolutely correct. Working on a BU collection, upgrading from lower grades. Some are pricey, however 
Posted on 12/28/18 at 8:33 am to Bullfrog
Nice photograph of a 1903-O dollar, which is one of the scarcer coins in this series.
Did you know that prior to October 1962, this variety was regarded as an almost impossible rarity in BU condition? That was before several bags of them were discovered in a storage vault in Philadelphia!
1903-O is still a desired variety, but is no longer considered a great rarity. Most existing coins with this date are in fact uncirculated.
Did you know that prior to October 1962, this variety was regarded as an almost impossible rarity in BU condition? That was before several bags of them were discovered in a storage vault in Philadelphia!
1903-O is still a desired variety, but is no longer considered a great rarity. Most existing coins with this date are in fact uncirculated.
Posted on 12/28/18 at 8:42 am to tarzana
Cool.
I didn’t know that. Thanks.
I didn’t know that. Thanks.
Posted on 12/28/18 at 9:50 am to Bullfrog
quote:My oldest "O" silver dollar is a 1846 "Seated Liberty" dollar similar to this one...
I enjoy collecting Morgan silver dollars. As previously said, the “O” mint marks are my favorite. Slowly working on the whole set of those.
I actually have an 1843 "O" dollar but it's a gold dollar. It looks like the photo below but of course the denomination is "1 D" on the reverse side. It's tiny, about the size of a men's shirt collar button.
Posted on 12/28/18 at 9:59 am to LSURussian
Dang! I got an 1846-O silver dollar. It's not nearly as nice as the one pictured here but it's still presentable.
Posted on 12/28/18 at 10:42 am to LSURussian
A short anecdote regarding O silver coins:
Several times, probably about 25 times over the years, when my wife and I eat out I give our waiter/waitress the option of me leaving a tip of cash or a New Orleans minted silver dollar. I let them hold the silver dollar and I point out the "O" mint mark.
But, I only do it when the cash tip would be considerably less than the "value" of the silver dollar.
For example, the cash tip might be $10 (which I tell them that's what I plan on leaving for a tip) and a 1889 "O" silver dollar would be "worth" about $20-$30, I'll give him/her the option of taking the silver dollar or the cash tip.
They almost always ask me, "What's the silver dollar worth?" To which I always reply, "Well, that's the question, isn't it? But, what's it worth to you?"
Every time, as in 100% of the times I've done it, the server has taken the cash tip. After they tell me they want the cash tip I then tell them the silver dollar could be sold for double the cash tip or maybe even a little more.
I enjoy seeing their reaction to that. Yeah, I know, I'm going to hell....
Several times, probably about 25 times over the years, when my wife and I eat out I give our waiter/waitress the option of me leaving a tip of cash or a New Orleans minted silver dollar. I let them hold the silver dollar and I point out the "O" mint mark.
But, I only do it when the cash tip would be considerably less than the "value" of the silver dollar.
For example, the cash tip might be $10 (which I tell them that's what I plan on leaving for a tip) and a 1889 "O" silver dollar would be "worth" about $20-$30, I'll give him/her the option of taking the silver dollar or the cash tip.
They almost always ask me, "What's the silver dollar worth?" To which I always reply, "Well, that's the question, isn't it? But, what's it worth to you?"
Every time, as in 100% of the times I've done it, the server has taken the cash tip. After they tell me they want the cash tip I then tell them the silver dollar could be sold for double the cash tip or maybe even a little more.
I enjoy seeing their reaction to that. Yeah, I know, I'm going to hell....
Posted on 12/28/18 at 12:35 pm to LSURussian
In today’s day and age of technology, shame on them being lazy.
“Cash or Sil. Dol.”
“Hmm let me think”
Walk away ... google
“Sil. Dol. please!”
“Cash or Sil. Dol.”
“Hmm let me think”
Walk away ... google
“Sil. Dol. please!”
Posted on 12/28/18 at 1:35 pm to crazycubes
quote:
In today’s day and age of technology, shame on them being lazy.
“Cash or Sil. Dol.”
“Hmm let me think”
Walk away ... google
“Sil. Dol. please!”
True, but I think it surprises them so much they don't think to do that. It's sort of my version of the old TV game show, "Let's Make A Deal." Except they know what's behind door #1 AND door #2 before they make their decision.
Posted on 12/28/18 at 2:25 pm to LSURussian
Those are nice coins.
Posted on 12/30/18 at 4:22 am to LSURussian
Your story reminds me of a youtube video I saw (but can't immediately find) of a guy walking around in public offering random people a 1 oz. Krugerrand if they'd give him $50. They all refused of course, which is a perfectly natural reaction.
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