| Author |
 Replies: 16 / Views: 3,746 |
|
Valued Member
United States
277 Posts |
I have a Pawn shop in my area that sells all the silver coins that they get in to a smelter for silver spot value.
I talked to the owner and explained that it would be better to sell to a collector than a smelter.
He told me if I wanted he would save all the silver coins that come in. He states he would use the spot silver price from (124) Not Allowed - Auto-Removed website.
Is this a good deal?
|
|
|
|
Pillar of the Community
Canada
5417 Posts |
If he's selling for spot then it's good to buy especially because silver is low now. Don't buy any damaged pieced though as these usually sell for under spot as no one wants them.
|
|
Valued Member
 United States
277 Posts |
Thanks for the reply. Went in this weekend and he sold me 20 Mercury dimes, fresh from someone's collection did not even look circulated. Thanks again for your advise. |
|
Valued Member
United States
167 Posts |
So you bought 20 uncirculated Mercury dimes for spot? That is a great deal! |
|
Pillar of the Community
United States
5825 Posts |
For common date, average circulated silver coins don't pay more than spot + 10%.
And if the dealers got them for a bargain you could easily be paying less.
|
|
Pillar of the Community
United States
6130 Posts |
Buying junk silver for spot is a pretty good deal. Look up some key dates online and keep your eyes peeled for those especially--people who take coins to a pawn shop generally have no clue what they are dealing with. If the shop owner isn't interested enough to look them up himself, you could walk away with some pretty rare coins. I've heard of plenty of people buying rare and valuable coins from pawn shops for pennies over melt.
|
|
Pillar of the Community
United States
992 Posts |
Paying spot silver prices for collectible coins is a great deal. You can sell the junkers to a coin shop yourself and recoup that portion of the cost.
|
|
Valued Member
United Kingdom
477 Posts |
Wow I wish I had something like that near me, take advantage of this opportunity. I don't have any pawn shops close to where I live, but I have a bullion/jewellery store near by. There costs are higher, than if I order the same from 100's of miles away.
I think I need to get talking more to them and hunt around and hope I can get a deal like you have. I'm a deeper shade of green with envy :D.
|
|
Pillar of the Community
United States
3486 Posts |
Members keep posting buy for less than spot.
Not realistic IMO.
Spot or up to spot plus 10% for nice coins is reasonable.
Unc coins for spot is always a good deal.
|
|
Pillar of the Community
United States
1745 Posts |
Spot is a good price (even +10% is ok). With better condition coins there will be a small premium.
|
|
Pillar of the Community
United States
4333 Posts |
That shop is not too saavy. Not only do the shops here not deal in coins (volatile nature of prices), when one does occasionally get a few silvers in they wont sell for even twice melt. Local coin shop here gets 15-20% over spot.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
1325 Posts |
Only coin I have paid more than face for was a 2000 ASE, unless you count shipping from a lot of Ikes that made it about $6 over face? So I only pay face value for silver. |
|
Valued Member
United States
277 Posts |
Thanks everyone for the replies, I just wanted to make sure it was a good deal.
I stopped by yesterday and picked up
3 Frankin halves
1 Walker half
75- silver dimes (2 barbers)
11- quarters (3 standing liberty with dates)
19- 40% halves
I set up a time each week to pick up, looks like talking to the owner and being polite is paying off.
I hope you all find a Pawn shop willing to sell at these prices.
|
|
Valued Member
United States
301 Posts |
I am definately envious as well. My local pawn shop is less than helpful, he has alot of silver coins, knows what they are worth, and charges book prices. Yet he buys them at 10x face. Keep that guy happy!!
|
|
Pillar of the Community
United States
663 Posts |
I like paying face value....which is why I CRH! ;-)
|
|
Pillar of the Community
United States
2850 Posts |
It's always nice to get a pawn shop to sell right at spot for old silver. I too have a pawn shop that does this for me and I always make sure they know I appreciate everything they do.
|
| |
Replies: 16 / Views: 3,746 |
Posted 03/10/2014 12:32 pm
