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 Replies: 33 / Views: 4,857 |
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Bedrock of the Community
United States
11951 Posts |
My opinion is ... If dealers are putting them into their junk silver boxes, they don't feel they can sell them for more than silver value. Of course cherry picking some better date or grades is a good thing. For me I think I would have bought one or two of the older coins, the 1898 would be one. Most weeks I buy a roll or two of silver coins. I try to pick BU Roosevelt or Washington's. I also like VF/XF or better Mercury dimes. I have one 20 roll box of BU Roosevelt dimes, late 50's through 60's, that most think look pretty impressive. I like have rolls of common silver ... Because I have no problem dumping some if a nice coin comes along. For example I have a line on a 1916D that may cost me more than a few rolls. But as other have said ....it is best to buy what you like. |
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Pillar of the Community
United Kingdom
2133 Posts |
Quote:
My opinion is ... If dealers are putting them into their junk silver boxes, they don't feel they can sell them for more than silver value. I don't think you're right. The cost of selling a coin worth $2 is the same as selling a coin worth $50. To sell the $50 coin, the dealer has to identify it, grade it, price it, record it in his/her inventory, add it to the web site or price list, probably photograph or scan it, and put it in an envelope. Clearly that's not worth it for coin worth less than $2, and I know some dealers have a higher threshold, $5 or $10. So a coin in the junk box may be worth than the junk box charge but still under their threshold. |
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Bedrock of the Community
United States
11951 Posts |
I am just talking about coins like the ones pictured, which none are $50 coins.
For example the Standing Liberty quartets are all very worn. There may be only one that would make
a grade of good/G4. The coins pictured have a greysheet price of $6.75 for the grade of G4.
So most of these coins would be worth less than the G4 price.
Quarters in the silver bucket, right now would be selling for about $5.00 each. So in this case
the silver is worth more than the coin. And yes there is much less time and expense for selling coins
Out of junk buckets.
To sell higher price coins most dealer will put them in a new 2X2, grade it and put a code for how much they paid for it.
For some coins they may send them to be graded/slabbed. He may also list online or ship to other dealers in his network.
Which can mean shipping expenses and if slabbed the cost for that service.
Some dealer will put coins away for coin shows, which also means more expense for a dealers.
So when I stated that dealers may put coins like these into their junk silver buckets, it is because they feel
they can not sell the coins for more.
In addition, when a 1927 quarter is $6.75 in G4 and a 1927 VF quarter greysheet's for only $10.00 it is much harder
for a dealer to sell coins that are G4 grade ...or less, when a better grade will sell for just a little bit more.
Edited by GR58
08/16/2013 5:58 pm
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Pillar of the Community
 United States
950 Posts |
So if you are selling to a silver buyer for just scrap value, they dont care how worn the coins are?
Should I just assume that they will all measure it by face value rather than overall weight?
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Valued Member
United States
189 Posts |
I wouldn't bother with junk unless I got a lot of it for way less than I know what my dealer will give me for it.
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Valued Member
United States
477 Posts |
I bought most of my junk at $20 - $22 FV. I haven't bothered to pick through it but since it came from a coin shop and a bullion broker I doubt there's any above silver value in it.
I was getting some really nice Morgans from the broker for $31 before the crash.
Rick
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New Member
United States
6 Posts |
I've become really picky with my junk. If I see any SLQ's or Mercury dimes, I give them first priority. I'll buy nicely toned coins also. |
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Valued Member
United States
256 Posts |
I remember, not too many years ago, plucking some shiny Morgans out of a dealer's "junk bucket" for $12 apiece. I've never regretted it because I loved studying the craftsmanship at the time, and I've loved the appreciation since. Win-Win.
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Pillar of the Community
United States
950 Posts |
If I could find a Morgan for $12, you'd better believe it would be mine!
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Valued Member
United States
256 Posts |
Yea, sure, today everyone would. It wasn't that long ago $12 was the going price for a junk Morgan.
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Pillar of the Community
United States
950 Posts |
Why didnt someone tell me to start collecting coins 20 years ago? Just think of all the stuff I missed out on! SIGH.
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Valued Member
United States
256 Posts |
@baysinger626
Didn't you get my memo? <g>
But seriously, ten years from now, I wouldn't be surprised to see a comment just like yours, lamenting they didn't buy Morgans at $26 back in the day.
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Valued Member
United States
54 Posts |
I havent bought junk silver yet but I bought 4 Troy ounce coins so far but I'm going to get junk silver soon
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Pillar of the Community
United Kingdom
2133 Posts |
What 4 Troy ounce coin have you bought ?
Can you post a pic, please ?
Personally, I prefer older junk silver to newer silver, in terms of holding silver.
With older coins there is still the potential of numismatic value increase.
So much George V British silver has been melted that many once common dates are very hard to find in lower grades.
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Pillar of the Community
United States
950 Posts |
I bet he means 4,(comma) one Troy OZ coins.
It sounds like older and special coins are more sought after by collectors. Thats kind of what I figured from this forum.
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Replies: 33 / Views: 4,857 |
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Posted 08/16/2013 10:19 am
