Wondering how you can get into the new silver and gold bonanza? In this How-To article I’ll cover all the ins and outs of buying silver and selling it for profits the same day! This can more than likely be applied to Gold, but I have not tried so myself as it caters to a smaller niche.
Now That's A Silver Gold Mine!
Silver is the poor mans gold. Just about anyone can afford to buy a few ounces. RIGHT NOW, is the perfect time to get into silver. Just 3 months ago silver was priced at $49 an ounce! Remarkable, never before seen, levels. Guess what? We’re heading there again. People are hording silver and gold once again gearing up for this big run.
Silver is actually the winner in this war on metals as well. Buy 100 ounces of silver at market price, hold for $40 for example, and you will make a $1,000 profit! If you tried making a 25% profit on gold buying at these prices ($1650) you’d have to wait for over $2,000, which it has never hit.However, Silver was just recently at nearly $50 so you can make those 25% profits into 40% and up.
What If I Said You Can Make 50% Profits Right Now!?
Every single day I embark on my search for silver. Where do I go?
CraigsList
CraigsList is the ‘gold mine’ of silver. Every single day you’ll see upwards of 100 people buying and selling silver. Most of those buying are underscoring the value and most of those selling are doing so at over priced levels. Even when Silver was at $45 I was buying Morgans for $20 a piece and making 100% profits! Sometimes, if I hit a very good year and mint mark, I would make even higher profits.
I guarantee you, if you make a Craigs List post in your area purchasing Morgans and Peace dollars for $20 a coin you will receive emails. People are panicking. I see it every week because I buy from people all the time. I hear things like “Silvers going down the tube I had to get rid of this” or people telling me they bought when silver was $40+ and are voluntarily taking losses just to get their money back.
Why Morgans/Peace Dollars
They hold their value. Morgans and Peace Dollars, and older silver dollars as well, are valued more than the price of silver. Check this out: http://www.coinflation.com/coins/1878-1921-Silver-Morgan-Dollar-Value.html
See? Morgans, even in fair condition are worth at least $30. The silver melt value is only $23 and silver price is $30. So a 1921 Morgan Silver Dollar with only 90% silver content is worth as much as a brand new, just minted, 2012 Silver Eagle, which is 99.999% silver.
Who Will Buy?
EBAY! Ebay is home to Silver Dollar collectors. Type Morgan Silver Dollar into an Ebay search and see what the going rate it is (don’t look at the buy it now listings, simply look at what people are bidding on). Morgans, peace, and older silver dollars are going for $30 a piece on the low side! If you buy at $20 a piece like I do you could be making 50% profits PER COIN! $20 is actually a lot on craigs list. Most will only offer around $15 or 15x face value (15x face being $15 as the face value is $15).
When you start doing this I guarantee you will be HOOKED! I’m hooked! You can also do this with Mercury dimes and other 90% silver coins.
These Coins Are Only Going Up In Value
Why? Because they’re being melted every single day. People take these to pawn shops who melt them down for silver. Yeah, 100 year old coins being melted down for silver. That’s why they are currently valued at least $30, just because of the scarcity factor. If you have one in very good condition it can be worth much more. Do yourself a favor, if you get into this make sure to investigate each coin. You’ll need a magnet, which will tell you if it’s silver or not. Silver is not magnetic. That’s it as far as buying, if you pick up any Morgan for $20 it’s a steal. When you get it home then you investigate the rarity factor. Type in the year (1901 O Morgan) the O being mint mark (its not always there) and find out what the approximate value is (based on condition).
My personal favorite for valuing my coins. Here are some of my recent scores. These are not all Morgans, I deal in all 90% silver coins.
