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 Replies: 43 / Views: 4,929 |
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New Member
 United States
24 Posts |
As I've said, I came here because I was innundated by cl replies when I did not post an asking price. I selected $35 and $30 because that appeared to be the preponderance here, and because silver had gone up $3.
I guess I accomplished what I set out to do, set a price, and if someone does not want to counter it, so be it.
Since it's free, other than the annoyance of personal criticism from strangers looking to make a buck off of others, oh well.
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Valued Member
United States
366 Posts |
JLB - Welcome to the world of trying to sell coins. Coins are easy to buy but much more difficult to sell. Human nature says we want full retail prices for our collections when we sell but that is usually not reality. Depending on what's in a collection, wholesale prices are normally about 75%-90% of retail... sometimes less. Morgan and Peace dollars are a commodity and should easily sell at $25-$26 in VG-XF condition... they can be purchased at about $29-$30. |
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Pillar of the Community
United States
4337 Posts |
JLB - wait for silver to keep climbing. Your looking at near and over $40 OZt in the next 5 quarters so unless your very desperate for paper currency to live, hang on and you'll be getting a lot higher prices by this time next year.
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Bedrock of the Community
Australia
21788 Posts |
For me, there are two components that make up the value of a silver coin.
There is the bullion value, which is dependent on the actual silver weight and the current price of silver.
Then there is the added on numismatic value.
With the current high price of silver, the numismatic value of a common silver coin in average condition may be negligible. In this case. you just check the silver price only.
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New Member
United States
24 Posts |
We have not done the deal yet, but I have an offer of $28.33 for the Morgans and Peace(s).
Guess you won't get $28 if you ask $25.
Edited by JLB
09/16/2012 11:14 am
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New Member
United States
24 Posts |
Now I'm at $675 for the 12 silver dollars, 23 halves, 10 quarters and a dime. $26.37 per $1 face.
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Valued Member
United States
141 Posts |
Just to answer this thread----- At a local coin show, you can buy some nice, not cull, morgan and Peace dollar at spot price of silver, good quality coins, not fine or anything, but you can still read dates and could see details, just not ms or au by any degree. once 90% silver hits a certain spot silver price, the premium on the coin goes down. at this point, I'm buying 90% at spot, and who knows, if silver crashes, I may get a premium on the coins, but if silver goes up, I'm not getting any premium for my morgans or Peace dollars which arent graded -just my opinion |
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New Member
United States
24 Posts |
"Posted 09/16/2012 4:44 pm
Now I'm at $675 for the 12 silver dollars, 23 halves, 10 quarters and a dime. $26.37 per $1 face."
Silver value would be $26.82.
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New Member
United States
24 Posts |
Now I have an offer at $700, $26.82 per face, silver value.
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Pillar of the Community
United States
2077 Posts |
Let's assume that silver prices will continue to rise, maybe not dramatically, but exceeding inflation and numismatic value. Does this mean that eventually coins in most series will be worth the same thing except for a few scarcer varieties? What concerns me are the ones that are currently slightly over melt right now. If I were to buy one at a premium now, eventually it would be worth the same as all the others. Makes adding those coins to my collection a bit discouraging.
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Valued Member
United States
140 Posts |
@$700 you would be getting $36/ozt of silver. Right now, that's $1.50 over spot, so I feel that's a very fair offer and would take it if I were you.
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New Member
United States
24 Posts |
Sometimes you go to the Internet to get information fromthose who know more than you about a subject, and then wind up being the one to provide the information you, yourslef, sought.
In this case, the anser to my original question is that you can set the full current silver price for "junk" msilver coins. The silver spot right now is $34.60, making the silver value of $1 in silver coins $26.76.
I got $700 for $26.10 in coins, or $28.82 per dollar, via craigslist in a small market.
The interest in silver coins is great, such that although most will not pay that, someone will.
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New Member
United States
24 Posts |
Wish there was an edit button.
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New Member
United States
24 Posts |
Then I opened the very next email from the cl ad and it was offering $450 for the 10 silver dollars.
(insert frowning "smilie" here)
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New Member
United States
24 Posts |
It occurs to me that in the original photo I posted to the criagslist ad, and never changed, there were 16 silver dollars. The $450 bid came without a previous email, so they are probably offering on all 16.
That's $28.125 each, more in line with the silver value.
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Replies: 43 / Views: 4,929 |
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Posted 09/12/2012 09:04 am
