Banks obviously don't request them so I guess the majority of them are in collector's hands or sitting in central bank vaults across the country gathering dust. They don't like to ship them around either and I had to bribe my teller friend to work her magic on the central bank vault manager so that she would be willing to send them to me.
You may think I'm crazy to order these $1000.00 bags of coins, but there is logic behind it:
1. You stand a chance of finding 40% silver Ikes, Proof Ikes, and if you're really lucky an older %90 silver dollar like a Peace or Morgan dollar.
2. Because of the difficulty in obtaining these dollars, you can sell even heavily circulated and scuffed Ikes for a premium on eBay - normally 160%-180% of face value!
So anyway, now that you understand my logic, time to share my finds. In my first bag I considered myself extremely lucky as I found (2) circulated 1971s 40% silver dollars (worth about $6.00 each) and to my surprise, two Silver Eagle dollars! Silver Eagles are composed of 99.9% pure silver, weigh in at exactly an ounce, and are slightly larger than traditional Ike dollars. Since Silver Eagles are basically a ounce of pure silver, they are worth the current market value which as of today is about $17.00.
If you calculate it all out...
2 * 6.00 = 12.00
2 * 17.00 = 34.00
996 * 1.60 = 1593.00
Total: 1639.00
Profit: $639.00 + fun!
Also of note this week, I received my new toy digital microscope camera to make examining coins and identifying valuable error varieties easier on my eyes. Even better, you can take great zoomed shots of interesting things like my shaved face!
And finally, Erin and I visited WSU. If only she would post, you would know all about it!
1 comment:
sick photo of unshaven dermis! what specifically are you looking for on the Ikes?
Find a house yet in WSU for Erin?
love gom
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