Ohio half CRHers have a major competitor

[Emperor Findus Cladius]

Saw this in at coinflation.com. Ohio hunters have a major competitor, at least in the Cleveland area.

http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1194860297146820.xml&coll=2

The part about the halves is on the second page of the article.

 

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[tw656]

That is not good for any of us. They do not go into where they get their halves to search through. Probably directly from the Fed.

 

[Phillip_in_NM]

I agree with tw - millions of dollars of halves would've affected a large part of the country. That company alone could explain lots of skunk boxes. Very interesting story.

 

[Immy]

His comment about "finding all the silver there is to find" strikes me as over-confident. Collectively we all search much less than his company and none of us believe the silver supply is exhausted. Not even close, in fact. If he had a branch in LJ country he'd dramatically boost his silver intake. Still interesting stuff, thanks for posting it Wayne. He's the guy I mentioned in a previous post.

 

[diggummup]

He mentions-
They've also been sorting through $14 million worth of half-dollar coins from throughout the country to cull silver coins made before 1964.
"I think we've recovered the last of the silver coins," says Luhrman. "Our process is very thorough."

I wonder if they have a "process" for the 65-70's 40%er's? I mean the 90% silver halves weigh 12.5 grams as compared to the 40% halves which weigh 11.5 and the copper clad halves which weigh 11.34 grams. I wonder if their "process" is done by the weight of each half dollar? I haven't found a 90%er for a good while now. I have found plenty of 40%er's though, comparatively speaking.

BTW-28 million half dollars is nothing compared to the actual number of silver halves minted. I mean there were more than a billion halves minted in just a 5 year span between 64 and 68. Not to mention the several billion minted since then.

 

[Emperor Findus Cladius]

One thing you also have to notice is that he said they have gone thru $14M in halves. There is hundreds of millions in halves in banks, so my guess is he is talking about the local area there (maybe state wide also), but he cannot be talking nationally.

 

[jewelerdave]

let em have his over confidence. that is limited thinking. Either he is a moron or wants to keep out competition and actually realizes that new coins enter the system all the time. Being this guy does own a business he could have just said that to keep down local competition from people like us, or keep new people from getting on the market.
When I tell friends locally about my coin finds I tell them I hit every bank in town, they assume that thats all there is. and its done, they dont know I pull up too a few hundred worth of silver a week.
fact is odd ball and old coins are always being put into and pulled out of circ. If one cant understand this simple fact...well, they dont have vision or can understand the size and scope of the currency system.

 

[TxTim]

let em have his over confidence. that is limited thinking. Either he is a moron or wants to keep out competition and actually realizes that new coins enter the system all the time. Being this guy does own a business he could have just said that to keep down local competition from people like us, or keep new people from getting on the market.
When I tell friends locally about my coin finds I tell them I hit every bank in town, they assume that thats all there is. and its done, they dont know I pull up too a few hundred worth of silver a week.
fact is odd ball and old coins are always being put into and pulled out of circ. If one cant understand this simple fact...well, they dont have vision or can understand the size and scope of the currency system.

I agree!!

 

[Ryan1979]

I wish I worked at the Fed. I'd send this guy $14 million in brand-spanking-new 2007 halves!