Saturday, April 30, 2011

Auctioning Off The Fine Silver

The price of silver and gold is on the rise; so, I thought it would be fun to talk about precious metals and inflation.

Are commodities really rising or is the value of the dollar falling?

Before doing any blogging on the topic of precious metals, I thought it wise to scour the house and rid it of any precious metals that might be hanging about.

Happily, I discovered that I was gold free.

I discovered, however, that I had an old coin collection that three loose silver dimes, war nickels, and a quarter collection. I also had a few buffalo nickels.

The quarter collection was in two Whitman Folders. It had three silver quarters and twenty four clad quarters. I didn't want to give a nephew a book with a bunch of empty holes that were expensive to fill, so I decided to auction it off: eBay auction.

I am hoping the auction will fetch the melt price of the silver plus the face value of the clad coins. The melt value of the silver is $26, and the face value of the clad coins is $6 (6+26 = 32). Shipping will cost about $5.00.

My plan is to use the winnings to buy a gram scale

I wish to use the gram scale to create an interesting product for a future blog post.

I am doing just a day auction for coins. Here's hoping I bring in enough to buy a scale.

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