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Date Posted: 18:49:12 02/04/03 Tue
Author: jim straight
Subject: Re: Gold & Silver ^
In reply to: Hoser John 's message, "Re: Gold & Silver ^" on 10:02:35 02/04/03 Tue

Hey, I'll tell you another story. My (late) kid brother Tom invested about a thousand dollars in buying silver coins back in 1965. Originally he planned on buying a real expensive hunting rifle but at the last minute didn't.

He hung on to the silver coins plus some odd silver items until the price was somewhere about $40+ an ounce and then went to a sell it.

He went in a the back door of the jewelry shop with the silver and noticed some nice stuff that had been sold for "scrap." He was into antiques and bought several pieces from the jewelry shop at the silver coins scrap price. Guess what! He did very well. According to Tom there was some real quality/valuable herloom pieces that were far more valuable than the scrap price. He slowly sold them off over the next few years to collectors. According to Tom during the "great melt down" some real valuable as "antique" items were melted as well as some low mintage coins.

To put all of this in perspective as a Kid I remember when the licenced gold buyers were making their rounds during the 1930's and buying "scrap gold" as well as placer gold.

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