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Is There Profit Potential In Turning Over "Junk Silver" Coins?

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Valued Member
United States
147 Posts
 Posted 02/12/2017  9:15 pm Show Profile   Bookmark this topic Add Jovian to your friends list Get a Link to this Message
I was looking into the prospect of buying bags of silver coins in bulk from places such as APMEX or JMBullion. I know the coins are classified as "Junk Silver" but is there enough room to turn them around and make a little money? Has anyone here tried this? I was looking at primarily using Walking Liberty or Barber halves, they seem to have the largest potential in my limited research so far. I know the coins are low grade, but lowballs sets or even individual lowballs sell for slightly higher than G-04 coins. Thanks for any input.
Valued Member
United States
219 Posts
 Posted 02/12/2017  9:28 pm  Show Profile   Bookmark this reply Add Matt2727 to your friends list Get a Link to this Reply
If there are any profit margins for bulk junk silver, I would think they would be small, perhaps at most 50 cents of profit per half dollar and 10-20 cents for dimes and quarters.

I do better searching through boxes of junk silver and picking out high grade examples or key/semi-key dates.
Bedrock of the Community
10197 Posts
 Posted 02/12/2017  9:41 pm  Show Profile   Bookmark this reply Add Crazyb0 to your friends list Get a Link to this Reply
w/ Matt,

Not enough to cover any shipping costs you will incur on the unload. My suggestion is...stay away from the dealers and bullion vendors as listed (many more...), they're making a very good markup, their overhead is BIGGER than yours. Buy maybe from some local auction/estates (is what I look for) but know your top price, how much above melt do you go, etc.

Then sell on eww-boy, there's suckers on there every minute!

No, really I buy for my own personal investment, using a few bucks over melt as a guide. I'll resell individual coins maybe, or lots of coins, but stay away from silver resales.
Valued Member
United States
404 Posts
 Posted 02/12/2017  9:59 pm  Show Profile   Bookmark this reply Add Dual-brain to your friends list Get a Link to this Reply
Dont get them from APMEX or other sellers like that, you are better off searching junk bins at your local coin shop... Sometimes they have better coins, I know one dealer is good for harder to find coins like mercurys or barbers... And a different one was good for unc roosevelts or washingtons... There is profit to be found but not much...
Valued Member
United States
147 Posts
 Posted 02/12/2017  10:33 pm  Show Profile   Bookmark this reply Add Jovian to your friends list Get a Link to this Reply
After comparing several, I would not use APMEX at all. They are much higher. As for local coin shops....NONE. Just Pawn Shops, they are worse than APMEX. I was not looking to get rich or even make much. I just thought it could be a way to get exposure to volumes larger than my current level of zero without breaking the bank. Thanks for the comments and insight.
Valued Member
United States
404 Posts
 Posted 02/12/2017  10:41 pm  Show Profile   Bookmark this reply Add Dual-brain to your friends list Get a Link to this Reply
Pawn shops will friggin scalp you... you don't have ANY local coin shops?
Pillar of the Community
United States
3717 Posts
 Posted 02/12/2017  10:55 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
Nothing new but I was at an antique mall today and several dealers had junk silver quality coins neatly enclosed in 2x2s for sale at absurd price levels. I get that antique mall rent is very high but the prices were insane. You will find dealers like this in almost every antique mall and it must be profitable because they have been doing it as long as I can remember.
Pillar of the Community
United States
4205 Posts
 Posted 02/12/2017  11:19 pm  Show Profile   Bookmark this reply Add Debrajc to your friends list Get a Link to this Reply
It's tough to make any profit on junk silver when you have to also add shipping costs.

Have you looked on Craigs list for buyers / sellers locally?
There was quite a bit listed last time I looked at the one in our area.

Bedrock of the Community
Australia
16317 Posts
 Posted 02/12/2017  11:33 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I do not see any profit in buying bagged junk silver.

I do have a cashe of junk silver, accumulated over many years as 'bye' buy in auction job lots.
Such an accumulation is a 'free' bonus.

I will sell it as a job lot, when I need the proceeds to fund a new purchase.
Valued Member
United States
147 Posts
 Posted 02/12/2017  11:34 pm  Show Profile   Bookmark this reply Add Jovian to your friends list Get a Link to this Reply
I live between Birmingham and Montgomery, Alabama. If you are not trading lawnmowers, guns, or pickup trucks, it is hard to find. This is not really a fair statement but I feel that way at times. There is a shop in Birmingham, but I have not been able to make it there.
Pillar of the Community
United States
1000 Posts
 Posted 02/13/2017  12:11 am  Show Profile   Bookmark this reply Add Druu to your friends list Get a Link to this Reply
Crazy, could you share any more info on how you're able to come out ahead buying junk silver? It's $2 over spot here, and I suppose I should become more proficient in rummaging through it. Did you just figure out the semi key dates to look for?

Jovian, join dual-brain and me in the toning project. I want to get junk UNC Rosies and see if I can add any color.
Pillar of the Community
United States
1211 Posts
 Posted 02/13/2017  07:47 am  Show Profile   Bookmark this reply Add jerseyben to your friends list Get a Link to this Reply
Turn them over how? I fail to see how this is a worthy endeavor... What exactly is the plan?
Edited by jerseyben
02/13/2017 07:48 am
Valued Member
United States
464 Posts
 Posted 02/13/2017  08:24 am  Show Profile   Bookmark this reply Add crazyglue to your friends list Get a Link to this Reply
Jovian- I live somewhat north of Mobile...so reading your post about lawnmowers, etc. put a smile on my face.


Pillar of the Community
United States
1892 Posts
 Posted 02/13/2017  08:39 am  Show Profile   Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
Only depends at what price you can buy the silver at. I don't believe buying them anywhere online (except unnoticed eBay auctions, perhaps) where it would be worth it. The only way I can do it is by buying from my LCS where I can get "junk" silver coins for spot price. And even then when I buy a bunch the only profit I get is a few bucks for a few bucks face silver. I usually just buy some and instead of profit keep a few dimes/quarters that comes out to being free at the end of the day.
Pillar of the Community
United States
2016 Posts
 Posted 02/13/2017  12:18 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Very little. These are the coins the LCS throws in the junk silver, so they're only a buyer at melt. Sometimes you can pull an interesting coin or two out of their scrap. I've gotten 1919-D and 1917-S obverse walkers that way. But you search a lot to get a few, and they're AG-G's at best.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Pillar of the Community
United States
1963 Posts
 Posted 02/13/2017  12:44 pm  Show Profile   Bookmark this reply Add coin197 to your friends list Get a Link to this Reply
The only "junk" silver I will buy are dollars to add to my collection (or pocket). Like I paid $14 for a Peace dollar the other day.
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