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Price For Selling Lower-grade Silver Coins

 
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Pillar of the Community
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Canada
8927 Posts
 Posted 06/15/2019  4:47 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply

Quote:
Price For Selling Lower-grade Silver Coins


How low?

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United States
9166 Posts
 Posted 06/15/2019  6:23 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
The formula I've mentioned gives a correct "melt value" in case of single coin and in case of $1000 Face value bag while a way you offered gives a huge different from reality in case of $1000 Face value bag because all coins loss weight differently.


90% silver coins are not sold by weight. They are sold in multiples of Face Value. The 0.715 multiplier is what the industry uses and has used for many decades.

And it should be noted the 0.715 multiplier does not apply to Silver Dollars which contain a different amount of silver and almost always have some numismatic value as well.
ANA #R3154474
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United States
3 Posts
 Posted 06/15/2019  8:32 pm  Show Profile   Bookmark this reply Add coin-mania to your friends list Get a Link to this Reply
I answered the question "what melt value will be in dollar amount".
And exactly the "melt value" and "numismatic value" are not the same ...

For many people remembering of one (or several) multiplier(s) is much easy than to remember any formula. It's a reason why multipliers are used for many decades.
But as we can see formula gives the approximately same final value. And it means that formula doesn't against multipliers used as industry standard but formula provides more precise value.

Also formula includes a component "% of silver in composition" to take into account a different amount of silver in different types of coins.
It's an additional advantage of using this formula: you need to remember a single formula only instead many different multipliers for different types of coins.

Thanks.
Valued Member
United States
309 Posts
 Posted 06/16/2019  3:34 pm  Show Profile   Check einstem's eBay Listings Bookmark this reply Add einstem to your friends list Get a Link to this Reply
All,
Thanks for the help.
I just counted everything up (at least the silver), and this is what I have:
Franklin halves x 20
Washington quarters x 30
Roosevelt dimes x 10
Mercury dimes x 10
Kennedy halves - 1964: x 10
Kennedy halves - 1965-69: x 12
Kennedy Hales - 1970s x 10 (don't believe these are silver)
Walking Liberty Halfs - 1930s: x 7
Walking Liberty Halfs - 1940s: x 56
Walking Liberty Halfs - No Dates: x 4
Walking Liberty Half-1917: x 1 (fairly worn, but maybe worth more then melt?)
Waling Liberty Half- 1918: x 1 (fairly worn, but maybe worth more then melt?)
Walking Liberty half - 1920: x 3 (fairly worn, worth more then melt?)

There is also a book of Jefferson nickels, not complete, and doesn't look like any rare dates and everything fairly circulated.
And then there are several books of incomplete Lincoln wheat cents. Again, no real rare dates, and everything fairly circulated, but I think there is a 1909 and a 1909 vdb, but they are pretty worn.

There is also a bag filled with foreign coins, and then some random coins, including a few Buffalo nickels, an a few other random coins.

I think the "silver" is probably the only thing of value here.

And, should I post those older Walking Liberty Halfs (the 1917, 1918, and 1920s to get opinions if they are worth more then "melt") ?

Thanks for all the help.

Regards,

Michael
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9166 Posts
 Posted 06/16/2019  5:21 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
Kennedy halves - 1965-69: x 12
Kennedy Hales - 1970s x 10 (don't believe these are silver)


These should all be 40% silver and worth about $2.20 each unless they are damaged. You'd be lucky to get $2 from a dealer though.


Quote:
I think the "silver" is probably the only thing of value here.


You're probably right but if you post a group photo of the other pieces we can give you an idea.

And yes the older Walkers, assuming they're in decent shape, can bring a premium to melt so post a pic of them too.

As to your original question about selling to a dealer. That is usually how you get the least money for coins. You are better off selling to another collector or bullion house to get close to melt.

What you've described should be worth at least $700.
ANA #R3154474
Valued Member
United States
309 Posts
 Posted 06/16/2019  5:48 pm  Show Profile   Check einstem's eBay Listings Bookmark this reply Add einstem to your friends list Get a Link to this Reply
BH1964,
Ok. Thanks so much.
I will post the older Walkers that I have, but I will post them to a "new thread" to the "US Classics" coin forum so it starts a fresh thread. I'll do the same for the other "misc" coins that I have.
The bulk of the walkers, Washington quarters, etc. are just probably "melt". I may post in the "for sale" here in CCF first with some photos to see if someone wants to buy them all in bulk. If not, I know a few dealers that frequent a coin show I go to that will probably give me a reasonably good price.. better then a "brick and mortar" dealer..
Thanks.
Michael
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United States
18146 Posts
 Posted 06/16/2019  6:07 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Be careful. You should really get a book, like the Red Book by Whitman Publishing, before you do anything. Not sure what you know about coins but there are some possible error coins worth a lot. For example a 1942/41 Mercury dime. Coins like that are worth a lot.
just carl
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United States
3703 Posts
 Posted 06/17/2019  05:15 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
I have seen dealers buy 90% silver coins by weight, not saying they all do.
I second selling to Provident Metals, dealers here only pay 50-60% spot, and Provident can pay better as they don't have the overhead costs.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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