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miryangzombie
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miryangzombie reacted to Russell in Is it worth stacking pre 1947 British silver coins
Good luck getting them for spot price I have paid over spot on Ebay but demand is getting hot. I keep mine in a zip bag that came with one tranche I bought from Ebay. I am in the UK so I am buying pre 1947 Crowns/half crowns, Florins/two shillings, shillings, sixpenses and threepences. The rules I go by are:
1/ I look at the sellers feedback, it must be 100% positive, must have mainly dealt in silver and especially pre 1947
2/ I take a price I am aiming for and establish a target and divide it by the weight (grams). I do not go over that price and my aim is always to average down my main price per gram.
e.g. someone is selling 800g and the price is already up to £209 (including postage!) So 20900 / 800 = 26.125p per gram. This is a no buy for me as my total stack of pre 1947 coins is at 24.5p per gram.
3/ If a coin seems expensive and says something like "rare" I look to see if there are other bidders for it. If there are a few bidders for it then it gives me confidence that the coin is indeed worth the money. In other words I don't have the knowledge and experience in coins as I do in guitars so I am relying on other peoples expertise.
4/ As soon as I buy I do the weight magnet and ping test and satisfaied with that then add that weight to my stack and work out the new average price per gram
