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 Replies: 842 / Views: 95,934 |
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Valued Member
United States
275 Posts |
On ebay, losing Franklin lots at 14x and winning Walking Liberty lots at 15x. |
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Pillar of the Community
United States
2637 Posts |
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Pillar of the Community
United States
1450 Posts |
Ever consider going to auctions and buying sterling silver in form of plates, bowls etc. Often times you can get them for spot or much less depending on the crowd. People will really pay up for silver dollars in just good condition but won't even pay anything near spot of a sterling silver plate and bowl with 100 ounces of sterling. People go nuts over Gorham sterling dinner ware but ignore all those sterling and engraved objects. I know sterling is only 70% silver but it all gets melted even silver coins and poor condition Morgans, Peace dollars, LWH dollars and all the rest. Think if you had of had a man cave just full of silver plates, bowls, dinner ware, trophies etc. when price of silver was $50 an ounce. I was buying it for about $7.50 back in 2002. |
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Pillar of the Community
Canada
5240 Posts |
@terry8835, sterling is 92.5% silver.
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Valued Member
Canada
343 Posts |
Your experience of getting sterling at auctions for spot or less is lucky IMO. An auction I've been to there are a number of people buying and they have no problem going way over spot. I suspect many of these are dealers with stores and they are willing to wait to find a buyer who will pay for the intrinsic value of the item - not just the melt value.
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Pillar of the Community
United States
2637 Posts |
Was surprised at local coin show when one table was selling large lots of pre-65 (approx $100) for $13.50/1.
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New Member
United States
45 Posts |
Local lCS $11/$1, and does not differentiate between BU or heavily circulated.
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Pillar of the Community
United States
840 Posts |
Yesterday, I locally sold a "lot" of 90% and 40% halves, pre-64 Roosevelts and Liberty dimes, and a few pre-64 Washington quarters. I got $7.50 each for the 90% halves, $3 each for the 40% halves, $2 each for the dimes, and $4 each for the quarters. I threw in a couple heavily damaged 90% halves for $5 each. Excluding the 2 heavily damaged halves, the 90% sold for 17.5x face, and the 40% sold for 6x face. I'm certain there was nothing with numismatic value in this lot. I think the buyer simply liked the variety of coins. They asked me to give them first dibs next time I sell, which I will.  Edited by berto
03/07/2017 01:10 am
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Pillar of the Community
United States
3184 Posts |
On 3/19/17 I went to a coin show and 90% was being sold for 12.4x FV. Didn't see too many buyers for the 90% but saw many wanting silver eagles and morgans/peace dollars as well as gold
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Pillar of the Community
United States
840 Posts |
I locally sold a "lot" of Morgan dollars, 90% and 40% halves, and a few pre-64 Washington quarters. The same buyer I wrote about above bought everything. I got $20 each for the Morgans, $8 each for the 90% halves, $3 each for the 40% halves, and $4 each for the quarters. I'm certain there was nothing with numismatic value in this lot. Happy selling (and buying) everyone! |
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Valued Member
United States
63 Posts |
Quote:Ever consider going to auctions and buying sterling silver in form of plates, bowls etc. Often times you can get them for spot or much less depending on the crowd. People will really pay up for silver dollars in just good condition but won't even pay anything near spot of a sterling silver plate and bowl with 100 ounces of sterling. People go nuts over Gorham sterling dinner ware but ignore all those sterling and engraved objects. I know sterling is only 70% silver but it all gets melted even silver coins and poor condition Morgans, Peace dollars, LWH dollars and all the rest. Think if you had of had a man cave just full of silver plates, bowls, dinner ware, trophies etc. when price of silver was $50 an ounce. I was buying it for about $7.50 back in 2002. Several times a year I'll hit up Estate auctions and will be able to buy sterling silver below spot value. I've yet to buy a silver dollar at an auction, since they are usually overpriced. Usually I find most of my sterling silver and scrap gold in flats of costume jewelry that I buy and are overlooked by other auction buyers or the auctioneer. |
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Pillar of the Community
United States
840 Posts |
I met with my bank teller connection and bought a Franklin half for $5, a liberty dime and some silver rosies for 75 cents each, and 2 silver Canadian quarters and 2 silver Canadian dimes all for $3. I'm satisfied with the deal :) |
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Valued Member
United States
275 Posts |
Berto wins this game on both ends!
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Pillar of the Community
United States
3184 Posts |
on saturday 6/24/17, there was a local coin store and 90% was being sold for 12x by some dealers in bulk which is melt or 13x if you wanted to pick through it.
A pawn shop I visited had 90% at 11x fv.
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Pillar of the Community
United States
840 Posts |
Dlangs56, the only downside to my teller connection is the small volume. My most recent buy was a 3-month accumulation from one teller. Obviously, during the holidays the number of silver coins this teller offers to sell me increases. Regardless, I buy all the silver coins they offer to sell me, and I always pay what they consider a fair price to keep our relationship positive. I forgot to mention as part of my last purchase I also bought a 1936-S Buffalo nickel in XF condition for only $0.25 :) |
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Posted 02/04/2017 10:52 am
