Friendly Metal Detecting Forums   River Team 6 Metal Detectors
List all sponsors

Go Back   Friendly Metal Detecting Forums > Everything About Finds > What's the Value? > CRHing

Reply
  
Thread Tools Display Modes
  #1  
Old 08-10-2020, 05:00 PM
TorqueMaster's Avatar
TorqueMaster TorqueMaster is offline
Senior Member
 
Join Date: Jan 2014
Location: Missouri
Posts: 361
Default Selling off 40%ers -- BEWARE!

Hey gang, long time, no type! Good to see many of the irregulars are still here and kicking Tip o' the hat and a bow to our Sovereign King Totsalot!

As many of you are probably aware, the price of silver has been a roller coaster lately. I'm still kicking myself for not being prepared to pounce when the price dropped to $12-13/oz in mid-March.

This weekend/today it's as high as I've ever seen during my CRH years $28-29/oz. Wow!

When I saw that price I decided it was time to part with some of my precious hoards of silver. It's hard letting go, but the intent was to make a profit as much as it was to hoard it.

Friday I called around local dealers to sell off some 40% HALVES-- and NO ONE WANTED TO PAY anything near spot/melt. Some didn't want them at all. Most buyers want at least 90%, so little demand locally. I did find a place in the big city of St. Louis, MO that paid ~85% of melt value, I considered myself lucky, and made the drive over the weekend to cash in.

Local dealers were competitive on 90%ers, so I've held those for now, as we may or may not be at the end of this silver price run. Who freaking knows?

So words to the wise -- 40%ers aren't as valuable as you may think -- and may be difficult to unload quickly!

Historical note -- I started CRHing in spring 2014 and stopped -- I think it was fall 2019. My source bank changed managers and the new b!atch in charge cut me off. I didn't take time to find a new source so I've been idle since then. So just over 5 years of hunting -- during which I accumulated over $1200 face in 40%ers. This is a good hobby!

With the current "coin shortage" I'm guessing it's too soon to try to start up again -- is anyone able to get boxes of halves right now?

HH
Reply With Quote


2 members found this post helpful.
  #2  
Old 08-10-2020, 06:27 PM
amc rulz's Avatar
amc rulz amc rulz is offline
Supporter
 
Join Date: Jan 2011
Location: southern mich
Posts: 4,843
Default

Wow $1200 face in 40%!
I sold some @ $35 silver 3 rolls at 75% spot on Craigslist. Took a month.
Donít feel bad.
40% are dirty and even the Hunts didnít want them.

__________________
DFX - Explorer II - Etrac

Reply With Quote


  #3  
Old 08-10-2020, 06:40 PM
amc rulz's Avatar
amc rulz amc rulz is offline
Supporter
 
Join Date: Jan 2011
Location: southern mich
Posts: 4,843
Default

Originally Posted by TorqueMaster View post
Hey gang, long time, no type! Good to see many of the irregulars are still here and kicking Tip o' the hat and a bow to our Sovereign King Totsalot!

As many of you are probably aware, the price of silver has been a roller coaster lately. I'm still kicking myself for not being prepared to pounce when the price dropped to $12-13/oz in mid-March.

This weekend/today it's as high as I've ever seen during my CRH years $28-29/oz. Wow!

When I saw that price I decided it was time to part with some of my precious hoards of silver. It's hard letting go, but the intent was to make a profit as much as it was to hoard it.

Friday I called around local dealers to sell off some 40% HALVES-- and NO ONE WANTED TO PAY anything near spot/melt. Some didn't want them at all. Most buyers want at least 90%, so little demand locally. I did find a place in the big city of St. Louis, MO that paid ~85% of melt value, I considered myself lucky, and made the drive over the weekend to cash in.

Local dealers were competitive on 90%ers, so I've held those for now, as we may or may not be at the end of this silver price run. Who freaking knows?

So words to the wise -- 40%ers aren't as valuable as you may think -- and may be difficult to unload quickly!

Historical note -- I started CRHing in spring 2014 and stopped -- I think it was fall 2019. My source bank changed managers and the new b!atch in charge cut me off. I didn't take time to find a new source so I've been idle since then. So just over 5 years of hunting -- during which I accumulated over $1200 face in 40%ers. This is a good hobby!

With the current "coin shortage" I'm guessing it's too soon to try to start up again -- is anyone able to get boxes of halves right now?

HH
$12-$13 silver in March. Premiums were crazy! Donít worry about it, pipe dream! Iíd say hold on to the 40%, unless you need the paper real bad! Youíll be glad you did!

__________________
DFX - Explorer II - Etrac

Reply With Quote


  #4  
Old 08-22-2020, 12:07 AM
TorqueMaster's Avatar
TorqueMaster TorqueMaster is offline
Senior Member
 
Join Date: Jan 2014
Location: Missouri
Posts: 361
Default

Yeah, I didn't want to mess with Craigslist, and looking at Ebay selling prices vs. selling fees and potential headaches with multiple buyers, the not-so-local dealer route seemed like the best option while the price was relatively high.

Yeah, back in March I either would have looked for hands-on silver or more likely "paper" silver. I don't know how low either really got.

Too late, the 40% is gone. So look into your crystal ball and tell me what future date I should have sold it and how much it would sell at, please, I still have the 90%!
Reply With Quote


  #5  
Old 08-22-2020, 10:39 AM
amc rulz's Avatar
amc rulz amc rulz is offline
Supporter
 
Join Date: Jan 2011
Location: southern mich
Posts: 4,843
Default

Originally Posted by TorqueMaster View post
Yeah, I didn't want to mess with Craigslist, and looking at Ebay selling prices vs. selling fees and potential headaches with multiple buyers, the not-so-local dealer route seemed like the best option while the price was relatively high.

Yeah, back in March I either would have looked for hands-on silver or more likely "paper" silver. I don't know how low either really got.

Too late, the 40% is gone. So look into your crystal ball and tell me what future date I should have sold it and how much it would sell at, please, I still have the 90%!
Personally, Iíd hold unless you need the paper real bad. I believe economic issues and national debt are accelerating much faster than what Iíd thought, which might drive the value of those coins much higher.

__________________
DFX - Explorer II - Etrac

Reply With Quote


  #6  
Old 08-26-2020, 05:35 PM
CoryTDF's Avatar
CoryTDF CoryTDF is offline
Junior Member
 
Join Date: May 2020
Location: Walla Walla Wa
Posts: 57
Default

Forgive me but, what is CRHing?

__________________
Minelab Equinox 800, Garrett AT Pinpointer

2020- Lots of clad, one silver war nickle, 5 wheats oldest 1918. Tool Count- 1 wrench, 1 screw driver, 1 channel locks, 1 1/4'' ratchet :)

Reply With Quote


  #7  
Old 08-26-2020, 10:42 PM
Stiffwrists Stiffwrists is offline
Elite Member
 
Join Date: Sep 2017
Location: Utah
Posts: 3,078
Default

Originally Posted by CoryTDF View post
Forgive me but, what is CRHing?
Coin
Roll
Hunting

Buying rolls of coins from the bank, searching them for keepers, and dumping the non-keepers back.

__________________
Equinox 800, AT MAX, ACE 350, Garrett Carrot, Lesche Excalibur Shovels
Totals Since June 2017:
Silver Coins: 279, Ag Rings/etc: 95
IH: 28, Buff/V/Shield: 45, Gold: 9

Reply With Quote


1 members found this post helpful.
  #8  
Old 08-31-2020, 04:56 PM
amc rulz's Avatar
amc rulz amc rulz is offline
Supporter
 
Join Date: Jan 2011
Location: southern mich
Posts: 4,843
Default

Originally Posted by Stiffwrists View post
Coin
Roll
Hunting

Buying rolls of coins from the bank, searching them for keepers, and dumping the non-keepers back.
Donít forget. Dump the rejects at a different branch. Donít tick off your bank.

__________________
DFX - Explorer II - Etrac

Reply With Quote


  #9  
Old 09-26-2020, 09:17 PM
KingTotsalot's Avatar
KingTotsalot KingTotsalot is offline
Official Tot Lot King
 
Join Date: Mar 2011
Location: Mabelvale, south of Little Rock, Arkansas
Posts: 8,952
Default

Originally Posted by TorqueMaster View post
Hey gang, long time, no type! Good to see many of the irregulars are still here and kicking Tip o' the hat and a bow to our Sovereign King Totsalot.

HH
Many Royal Thanks for that kindness, TorqueMaster! KT's CRH efforts are presently on hold due to the inaccessability of the dump machines in the local realm, but patience is virtue, so KT hopes to out last the effects of this virus on our local banks!

__________________
BH Tracker IV, Tesoro Compadre, ATPro, Honda Ruckus 49cc (Royal Steed), Tacoma (Royal Chariot). New hobby camo painting long guns!

Reply With Quote


Reply


Thread Tools
Display Modes

Forum Jump


All times are GMT -4. The time now is 06:28 AM.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2020, vBulletin Solutions, Inc.