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 Replies: 37 / Views: 3,555 |
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New Member
United States
6 Posts |
Hello everyone, My apology for starting my first post with questions. I recently inherited about 1700 1923 silver dollar coins in the (20) coin boxes. I tried to do research and looks like this is a very popular and ordinary coins due to large production. My questions are: -These coins are in very decent shape and looks like they are about $30/coin, am I right? -I'm not in any hurry to sell them but wonder if ebay is the best way to sell in terms of getting the most in return? Thanks for all your help.    |
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Pillar of the Community
United States
7613 Posts |
 to the Community! The pictured coin is dated 1923. Not much difference in value with a 1922, however. Whatever you do, do not clean, wipe, fondle (excessively handle) or harm the coins in any way, form or fashion! Exceptional coins can bring exceptional prices. Cleaned and damaged coins will bring less—— a LOT less! Study up, do your homework, do not be in a hurry. Know EXACTLY what you have BEFORE trying to sell any of it to anybody! It is very easy to be taken advantage of if you are a novice or can easily be intimidated or pressured. Ask questions here and we will try to help! You are in a very fortunate and envious position to be in! Good luck! |
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Pillar of the Community
United States
3848 Posts |
Wow, what a hoard!! Don't worry about asking us questions, because we are here to answer! With shipping, fees, and time involved, I would think ebay is not the best option. They take about 15%, you pay for shipping (a large amount of coins is heavy), and you spend possibly hours creating all of these listings and filling out the information. The best type of transaction would be in-person to a collector. You get cash, and top dollar. The hard part is tracking down those collectors. With the large amount of coins you have, you would need several meet ups with big time collectors/silver stackers. The next best thing is taking the collection to a local coin shop dealer. You may want to call around and ask how much they pay per common BU Peace dollar. Do a little shopping around and research. This option will be ideal, especially because the silver dollar market is hot right now. The dealer can get profit quicker, therefore he can pay you more per coin. Whatever option you choose, there may be only a couple dollar difference per coin you may be receiving, so it is not a big huge deal. And keep us updated on your final decisions! Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Moderator
 United States
56855 Posts |
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Moderator
United States
34393 Posts |
Quote:
The pictured coin is dated 1923. Fixed title.  "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Bedrock of the Community
United States
19112 Posts |
Now all this sounds like a lot of fun. I agree with westernsky. In time, you may try grading the very best examples, sell some (certainly not all) on ebay, and find another reputable collector to sell many of the remaining to. No hurry. |
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Moderator
United States
187582 Posts |
to the Community! |
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Pillar of the Community
United States
3342 Posts |
As executor, I took my dad's accumulation of coins to the local coin shop and disposed of them in less than an hour. The $15,000 check went into my mom's bank account. Your accumulation is worth 3-4x that. Unless you really like coins I would recommend liquidating them.
The coins were the least of my headaches in liquidating the estate, which took a year to settle. Much simpler than the real estate.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
02/22/2022 08:40 am
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Bedrock of the Community
United States
94367 Posts |
to the CCF! |
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Valued Member
United States
292 Posts |
It's my understanding that the 1922 and 1923 Peace dollars do not carry much of a premium above spot silver value unless they are of superior uncirculated quality, and even then they rate lower than all the other dates. Is that a fair statement? As is, 1700 of these coins represents a decent "stack" of silver investment which may gain considerable value in the future. The 1923 in the photo looks like it has 2 die chips near the date. Edited by EDM
02/22/2022 09:07 am
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Pillar of the Community
Canada
5392 Posts |
Buy Sell is currently $29 / $31 each on Peace dollars In VF or better . BU rolls might bring a touch more . Market is strong in relation to silver spot . Advice dump them and invest the money . $ 50,000 is a nice start ! |
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Pillar of the Community
United States
4468 Posts |
My guess is that the coins are uncirculated and a 1923 Mint State example has a minimum value of about $39 retail. You need to check for mint marks as the D and S have more value. You will make more money selling the coins on ebay than any other outlet. If you sell on ebay, you need to open up a store that will reduce your selling cost to about 8.5 percent vs 12.5 percent for a none store. If you sell the coins by roll of 10, you can also reduce the shipping cost by shipping in a Priority Mail box. You may also want to consider pulling out any examples that would grade MS65 or better and sending them to PCGS or NGC for grading. |
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New Member
 United States
6 Posts |
Wow, I'm at awe with the encouragement, sound advice and warm welcome from everyone. I mistakenly posted the picture of 1923 but majority of the coins were 1922. My friend started to buy diamond, gold, silver and junk stocks in his later years due to the advice from "friends" he found on the telephone. Needless to say, his new investment strategy did not end well. I will take my time to sell to local coin shop rather than ebay. I know there are several coin clubs in San Diego, should I reach out to them for recommended reputable coin dealers or to connect with collectors in the area? @ijin1944 recommends that I might want to pick best coins to get graded which I tempted to do. Who knows I might get a bunch of MS64 & 65. @Slider23, looks like these are all Philadelphia so no D & F but I will go through one by one again to look for the best. My friend also left me a bunch of graded silver and gold coins but I'm so confused by the discrepancies guided values between NGC/PCGS, numismedia, and sold prices on ebay. Am I correct to used all as ballpark price when dealing with coin dealers? Thanks again for all your help. Edited by dansd
02/22/2022 2:14 pm
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Pillar of the Community
United States
4468 Posts |
If you sell raw circulated 1922 Peace dollars to a coin dealer, you should expect an offer around melt. Today's melt price is $18.58 for 90% silver dollars. For low grade uncirculated 1922 examples you should expect to get a small premium over melt from a dealer. |
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Moderator
United States
15386 Posts |
to the CCF Thats a nice haul indeed. Quote:
Am I correct to used all as ballpark price when dealing with coin dealers? You need to keep in mind that any coin dealer needs to purchase inventory at prices lower than the retail value so they can pay their overhead costs (rent, labor, electricity, etc) and also make a profit to live on. Accordingly, dealers are going to offer you a percentage of retail value. My suggestion is to bring 10 to 20 'typical' coins with you to show at least 2 dealers what you have, then negotiate a bulk purchase price with the best offer getting the coins. Take a look at my other hobby ... http://www.jk-dk.art |
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Pillar of the Community
United States
2001 Posts |
I strongly disagree with the strategy of selling them to a coin dealer. Selling to a dealer for a small premium above melt (lets say $20 per coin), is still leaving another $20 on the table. These should easily sell on ebay for about $40 per coin right now so even with listing fees and final value fees it is still better than what a dealer would offer. You can charge extra for shipping, you don't have to offer free shipping. Also there are other sites besides ebay that don't charge those large fees and still get plenty of exposure. A dealer is the last place I would look to for selling my coins. |
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Replies: 37 / Views: 3,555 |
Posted 02/22/2022 02:15 am
