Is it worth stacking pre 1947 British silver coins

[Dean100]

Is it worth stacking  .500 silver coins if you can get them at spot or should you stick with .999 silver 

[SilverPirate007]

All silver is worth stacking at spot in my lowly opinion. Junk silver most of all.

[KevjustKev]

Half Crowns, stacked over 120, 50% so far. Some you can get lucky with as they can count as numismatic, meaning a few quid extra.

[Russell]

I am a new stacker and still working towards my target of 200oz I am 2/3 there.  I did not anticipate that I would fall in love with pre1947 coins.  I thought I would have trouble resisting pretty coins like my painted eagles but I swiftly started stacking a lot of junk silver but not pre 1920, for some reason I love the pre 1947 over everything else.  Although I have started buying more tubes of coins got a few more orders in at Baird now that my 1kg bar has been delivered 🙂

Edited April 26, 2020 by Russell

[Dean100]

5 hours ago, tallthinkev said:

Half Crowns, stacked over 120, 50% so far. Some you can get lucky with as they can count as numismatic, meaning a few quid extra.

Do you know where you can get coin tubes for the pre 1947 coins? They take up loads of room without them

[KevjustKev]

19 minutes ago, Dean100 said:

Do you know where you can get coin tubes for the pre 1947 coins? They take up loads of room without them

In one word, no. Try some plastic pipe from places like B and Q, or roll them up in cling film. I just use a padded A4 enevlope

[Dean100]

5 minutes ago, tallthinkev said:

In one word, no. Try some plastic pipe from places like B and Q, or roll them up in cling film. I just use a padded A4 enevlope

Okay thanks 

[Dean100]

1 hour ago, Russell said:

I am a new stacker and still working towards my target of 200oz I am 2/3 there.  I did not anticipate that I would fall in love with pre1947 coins.  I thought I would have trouble resisting pretty coins like my painted eagles but I swiftly started stacking a lot of junk silver but not pre 1920, for some reason I love the pre 1947 over everything else.  Although I have started buying more tubes of coins got a few more orders in at Baird now that my 1kg bar has been delivered 🙂

Is it worth buying pre 1947 scrap condition coins if you can get them under spot?

[SilverPirate007]

1 minute ago, Dean100 said:

Is it worth buying pre 1947 scrap condition coins if you can get them under spot?

Absolutely!

[Dean100]

1 minute ago, SilverPirate007 said:

Absolutely!

Thanks, how do you store your  pre 1947 coins?

[SilverPirate007]

2 minutes ago, Dean100 said:

Thanks, how do you store your  pre 1947 coins?

The smaller ones in some little tubes another member sent me. I then segregate the florins, half dollars etc into piles and put them in zip lock bags. All stored in my air tight safe.

nicer ones I put into coin capsules

Edited April 26, 2020 by SilverPirate007

[SilverPirate007]

6 minutes ago, Dean100 said:

Is it worth buying pre 1947 scrap condition coins if you can get them under spot?

Where are you buying them from?

[Dean100]

2 minutes ago, SilverPirate007 said:

Where are you buying them from?

Buying off ebay

[SilverPirate007]

1 minute ago, Dean100 said:

Buying off ebay

Be careful sir

[Dean100]

1 minute ago, SilverPirate007 said:

Be careful sir

Its mainly from the same guy, I make sure I weigh them and test them, dont know where else to get them from at spot price

[AgD]

https://www.air-tites.com/round_coin_tubes.htm

This is an American site but I use the same sort of tubes for my 'junk' and the USA coins are the same sort of size so fit ok

[Russell]

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

Edited April 27, 2020 by Russell
addition

[dicker]

It used to be possible to pick them up reasonably cheaply in the 80s and 90s from antiques shops that had big buckets of coins. 
 

Sadly not so many antiques shops around and people are a lot smarter about the values.  
 

Best

Dicker

[Dean100]

17 hours ago, Russell said:

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

Thanks for the message,  very helpful. I also seen 800g of pre 1947 sell on ebay the other day for £265 I wouldn't spend that much but it just shows you people on ebay will pay whatever. 

[SilverPirate007]

25 minutes ago, Dean100 said:

Thanks for the message,  very helpful. I also seen 800g of pre 1947 sell on ebay the other day for £265 I wouldn't spend that much but it just shows you people on ebay will pay whatever. 

That is crazy pricing 😦

[Russell]

43 minutes ago, SilverPirate007 said:

That is crazy pricing 😦

Too early to say if it is crazy pricing.  If gold goes to $3000 an ounce as Bank of America forcast the other day and some think that is a very conservative prediction and it could go to the moon!  Silver which is already very undervalued running at 123:1 gold to silver ratio could be $50 dollars an ounce in no time and past $100 per ounce in the medium term.  If these predictions from smarter people than I come true and the stackers like me believe it or at least are willing to take a punt on that analysis then these "crazy prices" become a wise and rewarding investment. 

My views are not advice to anyone and I am just another fool trying to make his way in the world.  I know nothing more than anyone else just trying to make the best of information and educate myself in economics and silve stacking 🙂

[SilverPirate007]

3 minutes ago, Russell said:

Too early to say if it is crazy pricing.  If gold goes to $3000 an ounce as Bank of America forcast the other day and some think that is a very conservative prediction and it could go to the moon!  Silver which is already very undervalued running at 123:1 gold to silver ratio could be $50 dollars an ounce in no time and past $100 per ounce in the medium term.  If these predictions from smarter people than I come true and the stackers like me believe it or at least are willing to take a punt on that analysis then these "crazy prices" become a wise and rewarding investment. 

My views are not advice to anyone and I am just another fool trying to make his way in the world.  I know nothing more than anyone else just trying to make the best of information and educate myself in economics and silve stacking 🙂

I would love to see it but my point is that junk silver tends to go for spot not multiples of spot.

[Russell]

9 minutes ago, SilverPirate007 said:

I would love to see it but my point is that junk silver tends to go for spot not multiples of spot.

The spot price is moving that is what I am referring to.  I just posted on the deals thread that I bought a 1kg casting bar of silver from Baird in London 3 weeks ago for a total including VAT and delivery for £496.  This morning I did a fake buy for the same bar and it is now £530.  Same with junk silver pre 1947 are 0.5 % silver if spot moves up to twice its posiiton now then it is all relative 🙂

Edited April 27, 2020 by Russell

[SilverPirate007]

1 minute ago, Russell said:

The spot price is moving that is what I am referring to.  I just posted on the deals thread that I bought a 1kg casting bar of silver from Baird in London 3 weeks ago for a total including VAT and delivery for £496.  This morning I did a fake buy for the same bar and it is now £530.  Same with junk silver pre 1947 are 0.5 % silver if spot moves up to twice its posiiton now then it is all relative 🙂

Sure I was lucky to get a few kg from bairds at the sub 500 price. My wife thinks I’m nuts as I have converted around half my cash to silver and gold.

[Arganto]

I toyed with the idea of 'scrap' silver/old non-numismatic coinage not so long ago, I bought one batch and gave up on the idea. My desire for more silver but equal desire not to pay big premiums (I'm close to pulling the trigger on a Baird mint bar but even those are £4-5 over spot) mean I'm looking again. I won't pay more than spot or possibly a % or two over because although I think silver spot will go up I also think the supply issue will resolve. At that point there may be a good chance .500/.720 only gets bought by hardcore stackers and dealers for a lower % of spot price. Still got loads of potential for increasing in value, but less so if you pay loads for it now. I'd be looking at 'converting' the scrap into nicer silver or gold later down the line so looking to maximise what I get out of it.

But that's just my thinking to protect my wallet, as it is easy to get carried away (at least I find it is...😁).