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Sold 40% Kennedy Half Dollars Today To Apmex

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Author Previous TopicReplies: 13 / Views: 884Next Topic  
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United States
102 Posts
 Posted 05/20/2025  8:24 pm Show Profile   Bookmark this topic Add NorthShoreMA to your friends list Get a Link to this Message Number of Subscribers
Today I sold 240 40% Kennedy half dollars to APMEX when the spot price of silver reached $33.30/ounce. At that price, each coin contains $4.93 of silver. I accepted the offer from APMEX ($4.38/coin -- an 11% discount). For convenience, I also agreed to send the coins to them via UPS at a cost of $75 (~31 cents/coin) that APMEX will subtract from my payment. I didn't investigate if I would pay less using the USPS. I will receive a check for $977.52 (~$4.07 per half dollar) -- about 83% of their melt value.

I recently purchased ~$1,000 worth of 90% "junk" silver dimes and quarters from another member of this forum. So I essentially traded a large number of 40% Kennedy half dollars that I've found while CRH for a stack of 90% silver coins.
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Spence's Avatar
United States
33114 Posts
 Posted 05/20/2025  8:29 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
Moving from a stack of 40% silver to 90% silver sounds like a good idea. What is next: sterling or 99.9%?
"If you climb a good tree, you get a push."
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Errers and Varietys's Avatar
United States
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 Posted 05/20/2025  8:58 pm  Show Profile   Bookmark this reply Add Errers and Varietys to your friends list Get a Link to this Reply
Pretty awesome! Congratulations on the deal.
Errers and Varietys.
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 Posted 05/20/2025  9:24 pm  Show Profile   Bookmark this reply Add halfamind to your friends list Get a Link to this Reply
Sure beats dropping them in a Coinstar!
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United States
247 Posts
 Posted 05/20/2025  10:59 pm  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
When you sell to APMEX et al, is there reporting?
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CoinHunter53562's Avatar
United States
2002 Posts
 Posted 05/21/2025  07:47 am  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply

Quote:
When you sell to APMEX et al, is there reporting?


https://www.apmex.com/faq/tax-infor...477470b76ea8

Best to check with a tax professional to get the final word on your situation. Also, I am guessing some think they can get around the requirement by doing individual deals under the listed thresholds. Can't say for certain, but my guess is there are laws regarding this that could be similar to structuring when it comes to bank deposits.
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jbuck's Avatar
United States
164037 Posts
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Brandmeister's Avatar
United States
4680 Posts
 Posted 05/21/2025  10:45 am  Show Profile   Check Brandmeister's eBay Listings Bookmark this reply Add Brandmeister to your friends list Get a Link to this Reply
That sounds like a rather excellent exchange. Congrats on reaching the final stage of your coin roll hunting on those Kennedy halves! =)
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muddler's Avatar
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7051 Posts
 Posted 05/21/2025  11:29 am  Show Profile   Bookmark this reply Add muddler to your friends list Get a Link to this Reply
I had liquidated my 40% Kennedy halves back in 2011 when silver was at $35. I felt that 90% junk was the way to go so I kept mine.
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BH1964's Avatar
United States
10959 Posts
 Posted 05/21/2025  6:45 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
Sounds like a good move to me. 240 40% halves is a huge number to find CRH. How long did that take?

P.S. $4.38 is a great sell price!
Edited by BH1964
05/21/2025 6:52 pm
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 Posted 05/21/2025  7:03 pm  Show Profile   Bookmark this reply Add coin rejector to your friends list Get a Link to this Reply
Sounds like you got a good deal, congrats.
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CoinHunter53562's Avatar
United States
2002 Posts
 Posted 05/21/2025  7:38 pm  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply
Smart move especially if you found them coin roll hunting. Even 90% silver can get heavy and bulky but 40% is just awful to stack.
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United States
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 Posted 06/04/2025  2:08 pm  Show Profile   Bookmark this reply Add smat45 to your friends list Get a Link to this Reply
I'm thinking about doing the same thing...
Did everything go according to plan?
smat
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United States
102 Posts
 Posted 06/08/2025  08:34 am  Show Profile   Bookmark this reply Add NorthShoreMA to your friends list Get a Link to this Reply
smat45: I received payment in my checking account 1- 2 days after APMEX staff verified what I sent.
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