Has anyone tried in trading up with 40% Kennedys to....

[GEOFF]

...90% halves, silver dollars, or even gold coins?

I am curious if anyone here has this weird habit of mine?

I was thinking about doing that with my 49 40%'ers to something that worths more, and then call CRH quits.

(I still enjoy the hobby but I make more with my stock hobby(just made a 1/4oz gold coin worth of trading) ...

HH to all!!

Much silver to you!

ps. If you do so, how do you trade/exchange yours?

 

Amazon Forum Fav 👍

Minelab PRO-FIND 35 Waterproof Pinpointer Metal Detector for Experts with Tone ID & Adjustable Sensitivity - Grab it through Amazon!

[Generic_Lad]

I trade some of my finds to British collectable coins along with some bullion like Britannias.

 

[BuffaloBoy]

I trade some of my finds to British collectable coins along with some bullion like Britannias.

beautiful coins

 

[GEOFF]

I trade some of my finds to British collectable coins along with some bullion like Britannias.

Lad, how do you do that? Craigslist?

 

[ImpurestStewart]

I'll trade you up to ASE if the offer is good..

 

[AGBlex]

I've traded a few 40%s for a morgan once... i was happy with it

 

[ArkieBassMan]

...90% halves, silver dollars, or even gold coins?

I am curious if anyone here has this weird habit of mine?

I was thinking about doing that with my 49 40%'ers to something that worths more, and then call CRH quits.

(I still enjoy the hobby but I make more with my stock hobby(just made a 1/4oz gold coin worth of trading) ...

HH to all!!

Much silver to you!

ps. If you do so, how do you trade/exchange yours?

Coin shops/dealers will almost always trade, and from what I've learned on this forum, you're most likely to get your best deal at a coin show. However, you're likely going to take a hit on both ends. Just like an automobile dealership, coin dealers are looking to make money on both ends. They'll want full retail for their stuff (usually a bit over spot), while giving you less than spot (sometimes significantly less) for your trade-in. Generally speaking, you'll come out money ahead on both ends by selling your 40% outright, and paying cash for whatever you wish to upgrade to. You'll usually save money on both ends by getting a better price for your 40%, and if you're paying cash for the 90%, .999, gold, or whatever you're upgrading to, you can almost always negotiate a better deal than "sticker" price. Also, generally speaking, the bigger quantity you're dealing with (buying or selling) the better price you'll get.

This of course will require more time and trouble on your part. Only you can decide if the time and trouble is worth the money you save - or more accurately the additional amount of silver/gold you're able to upgrade to. Its awfully convenient to walk in with 40% and walk out with what you want, but you will most likely pay for that convenience. However, not all dealers are the same, so its worth checking out. I remember one poster on this forum that apparently found a dealer that was very bullish on silver and traded silver for gold at nearly an even swap. Thats almost unheard of, but it can happen.

Some people have the opinion that since they obtained their silver at face value, they're still getting a good deal when they trade/sell at a price significantly below spot. While I respect their opinion, and understand what they're saying, I disagree. Take this example: right now I am just itching to buy a new ZR-1 Corvette. Which is true - I totalled my Z06 a few years ago and haven't replaced it. For the example, assume I hit the yard sale lotto and bought a Van Gogh painting worth $1 million for $5. A new ZR-1 lists for ~$125,000. Say the car dealer offers to swap me even for my painting. Technically speaking, I could make the deal and drive off in my much wanted car and have a whole $5 invested - which sounds great. However, by going through a little more time and trouble, I could sell my painting, still get my car, and have a pocket full of cash as well. Thats a ridiculous example, but you get my point.

Bottom line is thats its your silver and your decision. If you're happy with the deal, regardless of whatever it is, then its a good deal. Hope this helps.

 

[ImpurestStewart]

...90% halves, silver dollars, or even gold coins?

I am curious if anyone here has this weird habit of mine?

I was thinking about doing that with my 49 40%'ers to something that worths more, and then call CRH quits.

(I still enjoy the hobby but I make more with my stock hobby(just made a 1/4oz gold coin worth of trading) ...

HH to all!!

Much silver to you!

ps. If you do so, how do you trade/exchange yours?

Coin shops/dealers will almost always trade, and from what I've learned on this forum, you're most likely to get your best deal at a coin show. However, you're likely going to take a hit on both ends. Just like an automobile dealership, coin dealers are looking to make money on both ends. They'll want full retail for their stuff (usually a bit over spot), while giving you less than spot (sometimes significantly less) for your trade-in. Generally speaking, you'll come out money ahead on both ends by selling your 40% outright, and paying cash for whatever you wish to upgrade to. You'll usually save money on both ends by getting a better price for your 40%, and if you're paying cash for the 90%, .999, gold, or whatever you're upgrading to, you can almost always negotiate a better deal than "sticker" price. Also, generally speaking, the bigger quantity you're dealing with (buying or selling) the better price you'll get.

This of course will require more time and trouble on your part. Only you can decide if the time and trouble is worth the money you save - or more accurately the additional amount of silver/gold you're able to upgrade to. Its awfully convenient to walk in with 40% and walk out with what you want, but you will most likely pay for that convenience. However, not all dealers are the same, so its worth checking out. I remember one poster on this forum that apparently found a dealer that was very bullish on silver and traded silver for gold at nearly an even swap. Thats almost unheard of, but it can happen.

Some people have the opinion that since they obtained their silver at face value, they're still getting a good deal when they trade/sell at a price significantly below spot. While I respect their opinion, and understand what they're saying, I disagree. Take this example: right now I am just itching to buy a new ZR-1 Corvette. Which is true - I totalled my Z06 a few years ago and haven't replaced it. For the example, assume I hit the yard sale lotto and bought a Van Gogh painting worth $1 million for $5. A new ZR-1 lists for ~$125,000. Say the car dealer offers to swap me even for my painting. Technically speaking, I could make the deal and drive off in my much wanted car and have a whole $5 invested - which sounds great. However, by going through a little more time and trouble, I could sell my painting, still get my car, and have a pocket full of cash as well. Thats a ridiculous example, but you get my point.

Bottom line is thats its your silver and your decision. If you're happy with the deal, regardless of whatever it is, then its a good deal. Hope this helps.

Excellent Post Sir.

 

[mentalvirus]

right now I am just itching to buy a new ZR-1 Corvette.

You too? Fortunately I haven't totaled mine...yet Hope it wasn't too bad!

ahsq...you should trade up to what ever makes you happy but either way you will most likely take a hit on it because no one else is looking to 'trade down'. You'll just have to pay/eat the premium. But I agree, sell them outright and then pay cash for what you want instead!

 

[GEOFF]

Awesome thoughts Arkie!!

 

[GEOFF]

right now I am just itching to buy a new ZR-1 Corvette.

You too? Fortunately I haven't totaled mine...yet Hope it wasn't too bad!

ahsq...you should trade up to what ever makes you happy but either way you will most likely take a hit on it because no one else is looking to 'trade down'. You'll just have to pay/eat the premium. But I agree, sell them outright and then pay cash for what you want instead!

Thanks mentalvirus

 

[fistfulladirt]

You guys can keep your Government Motors...

I trade up 40% all the time. Gold, ASE's, 90%, I may take a small hit, but it's just a hobby so who cares?

 

[quiksilver]

Personally i dont like trading silver for silver. I usually trade for gold as it fits nicely in a SDB.

 

[quiksilver]

A fool and his money are soon parted. What someone pays for an item doesnt change what it is worth. Just because the silver was found shouldnt make someone not care if the deal is no good. Unless your in an area with limited options getting top dollar for your silver will always make financial sense.

 

[cuttybce]

I trade my 40%'s and any dimes that are manky, bent, or dirty. I also have a surplus of '64 dimes, so any '64 that isn't in really nice shape also goes in the trade pile.

That said, I still look for the best possible return. It might be "found money," but I still try to maximize my gain when attempting to trade for something better.

As they say on TV, your results may vary.

HH,
cuttybce

 

[Generic_Lad]

I trade some of my finds to British collectable coins along with some bullion like Britannias.

Lad, how do you do that? Craigslist?

I've got a coin dealer that sells Britannias for like a $3 premium over spot, I've got coins there for less than $40 that most online dealers charge $90 or so for. For the rest of my British coins I stop in at flea markets, antique malls and coin shops and try to get good deals, but the majority of the time its via eBay.

As for selling them, I have another coin shop that pays about 90% of spot for any silver, including 40%ers

 

[madwest]

In May of this year, Gold was the "cheapest" that it has been in more than 30 years.

The first week of May, you could buy an ounce of fine gold for about $47 in 90% junk - including premium (or $114 of 40% junk). The gold to silver cost ratio was 32 - the lowest it had been since the 1980 price fix on silver.

Today, the gold to silver ratio is 52 which is still on the low side.

If you like gold, trade your CRH finds for it. It is very unlikely that you will ever find gold CRH'ing. My opinion is that now is the time if you intend to do it. I wouldn't expect a Au/Ag ratio less than 45 anytime soon.

 

[MIhunter]

As an investment, it makes no sense trading silver for silver. The value of different forms of silver go up and down the same with the spot price. Even though ASE and 90% coins trade at a higher price than war nickels or 40% if the price of silver doubles you will be better off with the higher amount of total silver.

Trading for gold or other PMs is another story. Once you stack gets large enough (the # of ozs is up to you), it makes perfect sense to starts diversifing into other PMs. The key is to find who will give you the best price for your silver (probably craigslist) and who will sell you gold the cheapist (probably local coin store or show). That generally isn't the same person/shop.