The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/just-to-add-to-this-story-they-used-to-trade-29205226.aspx

Subject:  Re: Coin Silver Date:  3/30/2011  10:14 AM
Author:  CWKnob2 Number:  68777 of 76390

Just to add to this story ...

They used to trade $1,000 (face value) bags of 90% silver coins in New York. My old boss told a story about a client who exercised his right to take delivery on 2 bags of coins. his idea was to cull them for coins with numismatic value above their weight in silver.

Longer story short .. he got 2 bags of dimes worth their weight in silver. Period.

This story was told to me in the 80's as an old story. Though they still traded bags of silver coins in the 80's, I think they have pretty much gone by the wayside even though some dealers still market them looking for some sucker to pay the premium.

There's one born every minute.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us