First I must have a slight laugh at myself, after looking at silver in Jan when it was sitting down at $26/oz and trying to convince the wife that whilst visiting family in perth we should've visited the mint.. well anyway we didn't start buying until much later, to the tune of $36-40/oz... and now to see it come back to $27, well, I guess I can't do anything but laugh.... at myself.. :lol: Anyway the majority of our (very small, one could say bump) stack is made up of pre-decimal coins from ebay. I know that the bulk of people purchase these as junk silver, and as such are not interested in the numismatic value of the coin. I have made sure I purchased them below or at spot value, and have kept clear of the 'ugly looking' coins. My opinion being this way I am hedged against PM fluctuation and also premiums. After looking at some of the post 46 coins I have noticed blueing starting to occur (no doubt from the copper content??) and have decided that if I want to preserve the numismatic value of these coins I need to look into a better option for storage. How should I store these coins to best protect them from degradation, whilst trying to minimise overheads to set it up? I have thought about a coin album ($$), old film canisters, resealable bags etc, but think this is the best place to come for advice. Although I initially bought them as bullion value, I have now seen that potential value is higher, and keeping them stacked under our bed just isn't gonna cut it. Any thoughts greatly appreciated. Also if there is such a thing as silver anonymous, I had best find that soon, before I completely loose it and buy ozs and ozs of the stuff at these 'never to be repeated' bargain prices of late... :lol:
There are a number of ways you can store depending on the quality of the coin you wish to store. If you had really super super coins that were key dates and in good condition you may want to go for capsules which generally run to $9.50 for a box of 10 (lighthouse brand perhaps Maggie stocks these I am unsure). Another option is to use 2x2. These are a cardboard holder that has a transparent inert face. Two types: 1 press together and adhere, or second type staple. I personally have little faith in the self adhering ones and staple as well. Any coin shop will have these if you have access to a coin shop. The cheapest option although you will still have to periodically check they remain closed/sealed. Another idea is to place them in a food grade plastic that you would use for vacuum sealing and then vacuum seal. I believe that there is a good piccy of someones set up here on ss from the early days. One of the least intrusive methods in terms of checking. These days people do not put them in albums unless you can be very sure that they are pvc free. PVC breaks down onto coins and leaves an awful gooey substance, many an early coin has been ruined by albums. You can buy pvc accessories you will need to pm me , if you want the name of the company. Do a search on ss, this topic has been discussed before. lol you are on silver anon. You have a handle on ss.
Thanks for the thoughts Kaz. I just received some today that were already in the '2x2' (with staples), I think they are a winner for the good ones. Cheers
I've scratched a coin removing it from an old 2x2 with staples - I use the self-adhesive 2x2 for sovereigns now, storing them in an album designed for 2x2s. Same would work well for quality pre decimals that may have premiums - sort by date using a guide like Renniks or McDonalds, and then sort each year to cherrypick any quality coins from the scarcer years. Capsules are expensive, so I only use them for genuine numismatics or loose gold coins to stop them getting dinged. For bulk pre decimal... I used to use the ziplock coin bags from the banks. 11x post florins = 2oz, and I'd stack them in 10oz baggies.
If you are buying them for less than spot the chances are they have been picked over by several dealers and collectors. Get a book anyway and look for key dates, you don't even have to buy the new MacDonalds or Rennicks for about $30, you can buy last year's for around $5 at some shows, that will be all you need. Once you have checked for key dates look for the known varieties, they are usually found in the MacDonalds book, not sure about rennicks. Once you have satisfied yourself that they are in fact junk, you will find that storage is less of an issue. I have 23kg of junk (I know they are all junk because I spent weeks looking through them!) None of them have any green what-so-ever on them. This leads me to believe, without seeing your coins, that either they have been stored in a PVC page in the past, or something has been spilt on them. PVC usually makes the coins feel a bit tacky, on the plus side it is mostly surface damage and can be removed with a bit of acetone, or nail polish remover. It won't affect the silver content but it will make them look nicer and easier to sell. If that does not shift the green have a go with any household chemicals you find around the house, except bleach, makes them go black. Start with bi carb of soda, then try some cloudy ammonia. If the green persists then you have magic coins and they should sell for a premium. On the plus side, once you have satisfied yourself that you do just have junk you can throw them in a tupperware container, an old metal biscuit tin, a cardboard box or the food bags ( I have mine in food bags to prevent the moisture getting in and then in biscuit tins so I can stack them (plastic bags slip too much). The great benefit of junk silver is you don't have to spend any money storing them. If you get a coin, put it in a 2x2, that's 15 cents unless you spend 30 on the self sealing, which don't seal for long in QLD, now add a page to put the 2x2 in about $1.50 per page to hold about 20. Now you have to put the page in an album, and maybe a slipcase, depends on how flush you are but say $20 conservatively. It soon adds up. Good choice on collecting junk silver by the way, though I may be a little biased. It does tend to have zero premium and often sells for less than spot when you go to resell but if you get it at a good price you can't lose, unless the price of spot plummets but that wil never happen!
anyone here also use those silica satchels you get with cameras in their stash? - Im not entirely convinced that they work (although I have a heap in my boxes)
I have had to ease proof coins off of the sticky 2x2s in the past, they open up and the coin slips out just far enough to get gummed up. I also use the silica gel, not from cameras (how rich are you?!) but from shoe boxes, however if the silica absorbs the moisture and then sits in with the coins and they touch isn't that just as bad? I haven't noticed any problems but I don't really believe that they work anyway, but they are free!
