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 Replies: 20 / Views: 11,157 |
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Pillar of the Community
United States
2120 Posts |
Thats a rip off. I wouldnt sell for less than 11x. only if I need money bad.
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Valued Member
United States
266 Posts |
The coin shop by me offers 12x face. Apparently that's pretty good.
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Pillar of the Community
United States
1080 Posts |
3 coin shops in town... one offers me 5x, one offers 10x, and one varies with spot (right now about 12.1x)
I've sold coins at all three, but you can guess which one I sell the silver to.
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Pillar of the Community
United States
1080 Posts |
by the way, I usually get about 4.5x spot on the 40% stuff from the top coin shop. You might look for forum members in your town and ask who they deal with. That's how I found my go-to shop.
Edited by specksynder
07/07/2010 11:26 pm
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New Member
 United States
3 Posts |
Thanks for the replies. I live in a small town pop 14,000, and a couple of pawn shops, and one coin dealer is all that's here. The coin shop guy has local tv spot ads talking about paying TOP $, for your gold, and silver, and warnings about avoiding the crazy mail in ads. From doing some ebay and craigslist research I thought 10X face would be in line for my selling price. It looks like from the replies it is, but just not here in my area. Sounds like we could use another coin shop in town. |
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Pillar of the Community
United States
4333 Posts |
Was at my local shop yesterday. I bought some 90% halves at 13.5 X face. He's paying 8 X. He has no trouble turning the junk silver. He's making good profit, but he's running a business and overhead eats much of that profit. I think he caught on to whats being paid on ebait. I don't feel real bad paying his prices as he lets me cherry pick Walkers and Franklins and sometimes Barbers, decent coins a little over melt.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
432 Posts |
My local shop buys at 11x face, he usually sells at 12.5x. Just depends how much he has at the time.
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Pillar of the Community
United States
2335 Posts |
A lot of it has to do with your location. In my town buyers with a store front pay between 5-8X face. On scrap gold they pay 30-50% of spot. I understand they have overhead, & local law makes them keep any gold scrap purchased for at least 30 days so they also have the risk of price changes. I'm not willing to accept those prices & sell through other venues.
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Pillar of the Community
United States
2120 Posts |
Another thing to keep in mind if you want to just sell lots of silver. you can probably get 12x face from members here. its a good deal cause you get more than a dealer would pay, and the members pay less that a dealer would charge.
Its a pretty good middle area.
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Valued Member
United States
103 Posts |
I run a pawn shop and for junk silver we pay 10xs face. Better condition stuff I'll pay up to 13xs. That's only because I have competition around though. I'd pay 5xs face if I was the only game in town.
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Valued Member
Canada
68 Posts |
ya that seems a little low...If your patient you will find a buyer who will bay around the 11x fv!
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Pillar of the Community
United States
564 Posts |
I buy silver in my area at 8-9 x face. That's way better than the local places offering 5-6x. It's a win win for me and the seller since they are getting cash now and at a better price.
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Pillar of the Community
United States
4333 Posts |
I've had a flyer up with me offering 12X face. NO bites in over a year. Local Craigslisters are offering up to 13X for silver coin.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
Canada
307 Posts |
my coin dealer offers at least 10 x so don't sell to the pawn shop
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Pillar of the Community
United States
958 Posts |
12x is good , 10 is fair , most pawns offer 5-8x .
usually its just a offer . I have had one pawn offer 7x I told him there was a coind shop north of here paying 12x face ( it does ) but I didnt want to drive that far and would wait till I got more coins
he said 11x face so I sold them
When in fact I would have spent 20$ in gas round trip to get a few bucks more it was worth it to take less money
I have noticed if its total junk 10-12 is the highest most coin shops do if its stuff like SLQ ,decent walkers or decent morgans they will pay 16x face
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Posted 07/07/2010 10:43 pm
