Loading ...Agreed. I remember around 1979 driving up Ocean Avenue with the radio on and the guy saying Silver hit $52/oz. The $1,000 face value junk silver coins was around $35,000. House prices back then were $25k to $45K, so one bag could buy a house.
Everybody and their uncle were buying silver coins. Lots of redemption stores also for the sellers. My friend and I were buying and selling coins, some bought off the lines of people waiting to get in the store and with adds in the paper, taking turns with the buy phone or the sell phone number.
I knew a guy that had 8 stores, I went into his main store with 10 pounds of pure silver rivets, asked him if he would give me 9.5 pounds of silver dimes. He said ok, and took me in the back room. There were many many buckets of silver coins. Plus three assault rifles in the corners of the room.
I asked him, where is all this stuff going? He said its going to the docks in Manhattan and shipped overseas. The foreigners are constantly picking us clean. Even collectible cars have been going overseas.