Where are and who has all the 1966 50's and how many are there left?
- Thread starter openeyes
- Start date
I have four 400g Mocconna jars stuffed with them. No idea how many that is
Back in the day you could easily ask $1 premium per coin. but the ones I bought recently I got at spot value as I was buying in bulk.
When silver was making daily gains there was a lot of positive sentiment and probably a bit of FOMO (Fear of missing out) so these were commanding decent premiums for what they were and they were very desirable.
Government issued and therefore guaranteed as much as any other bar or silver product.
Not numismatic so unlikely to be faked (and if you did find an old fake it is worth more than melt anyway)
Recognisable, in as much as people who understand silver in Australia could recognise it
Simple, not like the shillings where you have to remember date ranges etc. to work out the % silver content
Cheap to buy, one of the cheapest ways to acquire silver that isn't shot or scrap or x-ray films.
The legendary stop loss! Even if spot drops to $0 you still have 50 cents!
Legal tender, you could still spend it if for some reason you really needed to...
Easy sums, 3 = Spot price.
Metal refiners will accept them! In any number apparently. These are the same people who would only deal with pre dec if it was 100 tons or more.
Some of the ones I have still have mint lustre and would be considered collectible. Some have a "Double bar" variety which would often get prices of $12-15 each.
At the moment the silver price is being a bit boring so people are not in a rush to buy as they can get it tomorrow at the same price anyway so there isn't the rush to get them. They are pretty plentiful and lots of people have them for sale and not so many people want them, so premiums are down. Once they run out and prices start going up again there will be a bit more desire for them.
Back in the day you could easily ask $1 premium per coin. but the ones I bought recently I got at spot value as I was buying in bulk.
When silver was making daily gains there was a lot of positive sentiment and probably a bit of FOMO (Fear of missing out) so these were commanding decent premiums for what they were and they were very desirable.
Government issued and therefore guaranteed as much as any other bar or silver product.
Not numismatic so unlikely to be faked (and if you did find an old fake it is worth more than melt anyway)
Recognisable, in as much as people who understand silver in Australia could recognise it
Simple, not like the shillings where you have to remember date ranges etc. to work out the % silver content
Cheap to buy, one of the cheapest ways to acquire silver that isn't shot or scrap or x-ray films.
The legendary stop loss! Even if spot drops to $0 you still have 50 cents!
Legal tender, you could still spend it if for some reason you really needed to...
Easy sums, 3 = Spot price.
Metal refiners will accept them! In any number apparently. These are the same people who would only deal with pre dec if it was 100 tons or more.
Some of the ones I have still have mint lustre and would be considered collectible. Some have a "Double bar" variety which would often get prices of $12-15 each.
At the moment the silver price is being a bit boring so people are not in a rush to buy as they can get it tomorrow at the same price anyway so there isn't the rush to get them. They are pretty plentiful and lots of people have them for sale and not so many people want them, so premiums are down. Once they run out and prices start going up again there will be a bit more desire for them.
Trust me, you don't mention that the $7,500 in your asset list is made up of 80% silver coins. Its just cash on hand.
I was just trying to google to see if the old pre decimal coins were still legal tender and whether or not they have a new value assigned to them in dollars and cents. Would be great if my pre dec could be declared at the new face value as well.
To the best of my knowledge, the pre-decimals are still legal tender.
Jason1
Well-Known Member
I love round 50s, roughly 1/3 of ounce makes them great for making trades where a full ounce is too much. Im always trading them with other silver collectors. Even non silver people know they are full of silver hence why you see random non silver people with a hoard of them who have kept them.
the most Ive had at any given time is 500 but I currently sit on only 200. Over the years ive bought thousands and traded them around, as they are so easy to trade with your not holding onto them for long.
My grandfather apparently had a 20l bucket full of them, However sadly I didnt know about it after he passed away as I would have bought the bucket off his estate if i had of known at the time, so these went to a dealer most likely, id imagine a 20l Bucket would hold tens of thousands of them?
There are allot of old timers who have big stashes, most of the bulk coins Ive bought are from old timers who held onto them after they came out. There are allot of these coins out there.
the most Ive had at any given time is 500 but I currently sit on only 200. Over the years ive bought thousands and traded them around, as they are so easy to trade with your not holding onto them for long.
My grandfather apparently had a 20l bucket full of them, However sadly I didnt know about it after he passed away as I would have bought the bucket off his estate if i had of known at the time, so these went to a dealer most likely, id imagine a 20l Bucket would hold tens of thousands of them?
There are allot of old timers who have big stashes, most of the bulk coins Ive bought are from old timers who held onto them after they came out. There are allot of these coins out there.
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Yes pre dec is still legal tender, only the holey dollar and dump have had their legal tender status removed.
Pre decimal face value is 10c = 1 shilling (hence why the Florin is the same size as a 20c piece, shilling = 10c coin size and sixpence = 5c piece)
This got me thinking, it would seem then the pre45 Florin has a higher silver content to face value ratio than the round 50.