Selling Some Silver Today... Sort Of

biokemist6,

It was Missouri Coin Co. on Manchester Rd in Des Peres.

Looks like silver and Gold has taken a pretty sizable dip since the last time I looked (last week sometime)

quote:

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Missouri Coin Co. on Manchester Rd in Des Peres

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Ok, I was just seeing if it was the shop I go to, Midwest Money in south St. Louis. I am pretty sure they only pay x face for generic circulated Morgans but increase it for Uncs since those do not go into the bucket, they go in a case or on the bid board.

Alright here's my update and some explanation.

First the numbers

I brought in 100 silver half dollars. All dated between 1941 and 1946. All the coins were very very circulated. Some were so worn that it almost looked like a blank piece of metal.

I was offered $5.60 per coin. This was about 90 percent of melt value give or take.

So this is what happened.
I asked him what he would offer me per coin if I agreed to spend at least half the money at the shop. (I can always add some Morgan dollars, plus I have a nickel set that needs some filling)

He told me if I did that he would offer me another 15 cents per coin (so 5.70 or about 92 percent of melt value)

I almost took it but he didn't *currently* have any of the coins I needed for the nickel set.

So here's the bottom line.

I took the 5.60 per coin and received $560.00. He gave me 460 in check form and allowed me to pick 9 morgans from the common-date basket.

I'm happy with the deal. I like giving him my business because he's a good guy and goes out of his way to take care of his customers.

Let me know what you all think.

It does seem like you were treated fairly.....and got some decent cash and 9 Morgans........nuthin' wrong with that !

Sounds like a good deal to me. I usually have no problem giving a little extra to keep my money in the local economy.

I just want to say that I definitely learned something from this thread. Great website on the refiner and I never thought of negotiating with re-spending the money at the shop.

I wil definitely use in the future.