Vent: The guy at the coin shop who told me to hold my silver dollars

So back in March I stopped into a little coin shop near my place in Portland. The owner, older guy named Frank, saw I was checking out some Morgan silver dollars and told me flat out to hold onto them and not sell. He said silver was gonna pop off by summer. I thought he was just trying to talk me into buying more from him honestly. But I listened and sat on about 12 coins I had picked up for around $25 each. Fast forward to last week and I checked the spot price, silver shot up way more than I expected. I ended up selling three of them for $42 each at a show in Eugene. Not a huge win but Frank was right, I should have held the rest. Has anyone else had a dealer give you advice that actually worked out?

3 comments

3 Comments

terryw6723d ago

Got a buddy named Dave who's into old foreign coins, not US stuff. He told me a similar story about this guy he met at a flea market in Salem back in 2021. The guy, some retired electrician, told Dave to grab any 1960s German silver marks he could find cheap. Dave laughed it off but picked up a handful for like 8 bucks each just to be nice. A year later he saw those same coins selling for 20 plus on eBay. He called that electrician back and the guy just laughed and said he knew because he'd been collecting since the 70s. Dave still kicks himself for not buying more.

the_amy23d agoMost Upvoted

Ran into a friend at a coin show last weekend. He told me almost the same story but with Canadian silver dollars. Some old timer at a garage sale told him to buy every 1950s Canadian dollar he could find under $15. He grabbed three just to be polite. Checked prices last month and they were going for $40 plus. He went back to that neighborhood looking for the guy. Never found him.

clark.alex23d ago

Wait, you actually got $42 each for Morgan dollars in this market? That's wild, I figured most dealers would lowball you on generics even with spot rising. I've walked out of shows with offers barely above melt for common dates.