Peace & Morgan Values? - Coin Community Forum

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Author	Replies: 8 / Views: 1,307
CoinKat Valued Member United States 59 Posts	Posted 01/29/2012 10:26 pm I took a few nice coins to the local coin shop (never been there before) and he offered me 22$ each spot was around 33$. Ripoff or is that a reasonable price? Thanks Report this Post to the Staff

Landon Valued Member United States 264 Posts	Posted 01/29/2012 10:36 pm Spot would be 25.95 at Friday's close. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 01/29/2012 10:41 pm Ripoff? Yes, but see below. Reasonable? Yes. You're selling to a dealer at wholesale; that dealer has to make a profit on what he buys. However, if these coins can be described as "nice," as in, AU or better, you're ripping yourself off by selling them to a dealer. As Landon said, it's a reasonable price compared to spot. If you offered the dealer a group of Mint State coins, then his offer was a ripoff because he's going to at least double the price paid. Report this Post to the Staff
CoinHunter53562 Pillar of the Community United States 2049 Posts	Posted 01/29/2012 11:19 pm Depends on the condition. The main 2 dealers sell culls to VF around $25-$26/each so a buy price of $22 is more than fair. They also sell circulated dollars for around $28-30 in VF-XF grades and $30-35 for AU dollars. All of the quotes are for average dates obviously. So it would really depend on the grades and years/mintmarks for us to really know if you got a lowball offer or a fair offer. "Nice" is too subjective for us to make an accurate determination. Report this Post to the Staff
Broken-Coin Pillar of the Community United States 1812 Posts	Posted 01/30/2012 12:53 am Can you post some pics of the coins?☺? Report this Post to the Staff
Broken-Coin Pillar of the Community United States 1812 Posts	Posted 01/30/2012 12:58 am Just checked KITCO and silver spot is now $33.37 an ounce... Report this Post to the Staff
SeatedNut Pillar of the Community United States 2797 Posts	Posted 01/30/2012 10:05 am Agree with the "reasonable offer" crowd. Remember there's only .769824 oz of silver in 90% Morgan and Peace dollars or $25.40/oz @ $33 spot. I note lots of sellers on ebay and Craigslist, etc. that seem to think there's an oz of silver in there. Report this Post to the Staff
1893S Pillar of the Community United States 1554 Posts	Posted 01/30/2012 12:31 pm A little low, but, fairly reasonable unless AU or better. Report this Post to the Staff
CoinKat Valued Member United States 59 Posts	Posted 01/30/2012 10:17 pm Thanks for all the info. Report this Post to the Staff
	Replies: 8 / Views: 1,307

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