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Re: Loose Change 

By: De_Composed in 6TH POPE | Recommend this post (1)
Sat, 03 Aug 24 2:45 AM | 27 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 56200 of 58519
(This msg. is a reply to 56193 by De_Composed)
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The coins went for $625 + 17%. I was willing to pay up to $501 + 17% but the prices rose quickly enough that I didn't even bid.

There were several other sterling silver items. IMO, they sold for far too much, but maybe the buyers knew something that I did not. ($316 for a sterling lot that I was unwilling to bid more than $51 for... mostly because I suspected that the lot wasn't actually 17.1 oz of sterling silver but possibly 17.1 oz of WEIGHTED STERLING... which isn't the same thing at all. If truly sterling, then 17.1 oz of sterling is worth about $390 - which makes the purchase good but not so good as to cover the risk, imo. And that doesn't even get into the fact that 17.1 oz is 15.59 troy ounces and troy ounces aren't what I priced.)

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The above is a reply to the following message:
Re: Loose Change
By: De_Composed in 6TH POPE
Fri, 02 Aug 24 11:05 PM 		Msg. 56193 of 58519

The vendor I was using back in the day used to sell big sacks of dimes. He charged a lower commission (his profit above the spot price of silver) on them than on anything else he sold. He had a lot and it was like he couldn't give them away. I was never tempted, always thinking "Who would want a bunch of old grubby dimes?" I can't believe now that I was so stupid.

In TEOTWAWKI, dimes would be just about the BEST thing to have. Everyone knows what they are... there's zero danger that they're counterfeit... and it's extremely easy to calculate their worth. Moreover, because they're small, they're very spendable. A person with pre-1960 dimes could go to a neighbor's house and buy anything from his tractor to a box of toilet paper. Try and do that with your collection of Walking Liberty silver dollars or Krugerrands.

That's the main reason I'm interested in tonight's auction. I don't have any old dimes or quarters. Therefore I don't have any precious metal that would be easy to spend on the kind of day-to-day merchandise a person is likely to actually need.

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