Armageddon silver; at the country auction yesterday.
They came out of the mountains & from far away. Methinks the 'natives' are getting edgy! All the silver coinage was "meat" silver with little numismatic value in terms of any valid premium, "junk" silver as it were. But in the silver dollar department prices went thru the roof. The cartwheel has .77344 oz of silver in it and with spot close at $27.53 it would value a silver dollar @ $21.29 for silver content. The first batch of Morgans averaged $39.97 per coin. The second batch averaged $41.00 per coin. In the Peace dollar sector there was not the interest. First 17 coins averaged $27.58 per coin, next 17 a little over $23. The real surprise, to me at least, came with the Mercury dimes. The silver dime has a content of .07234 oz. silver. With spot at $27.53 the dime is worth $1.9915. All these dimes were junk. Fifty would have an Ag content value of $99.57. Those many lots went for $95.00. They were ALL bought up by mountain men in frayed coveralls who paid in cash. Over at weapons, they flew @ what seemed to me very high prices, especially the pocket sized pistols. Now this is deep gun country & everyone has 'em. Many sales, I observed, were to out of staters who were filling out papers. With grocery, fuel & "service" prices skyrocketing perhaps the message of 'what your money will buy' is beginning to come home. Most "folks" don't know stocks, bonds, reverse repos & derivatives out here. They know land, cattle, guns and they remember hearing tell of the banks all going bust during the depression. The times, they are a changing! Best to all. g-9