My friends, I'm diversifying my stack and adding some junk silver. I've just purchased 2kg of 50% junk silver, made up of sixpence, shillings and florins. I paid spot for it. I've never had any before and not sure how to categorize it for want of a btter word. Is all 50% junk treated the same or are some more sought-after than others? Do they normally carry any premium at all? Always learning..
Spot is a great price and certainly the main reason I buy it. If you are buying in bulk then it is highly likely that it has been picked over by several collectors looking for coins in good condition, low mintages and errors and varieties. What is left over is generally not going to have any premium. But people make mistakes and if you have the spare time, start going through it, separating it into denominations, then into years. Check the mintages for each year and put aside any that are low mintages. Then look for any known varieties. Keep an eye out for error coins, I once found a two headed coin that got mixed in (not a mint error, just a magician's coin). Then pull out any that look shiney or in good nick regardless of the year and chuck them in a separate box. That's pretty much all you have to do, then find an old Moconna jar and chuck them in and forget about them until spot doubles.
Just don't start cleaning them and putting them in a treasure chest. It isn't worth the time or the money!
