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 Replies: 30 / Views: 3,318 |
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Pillar of the Community
United States
1195 Posts |
Lurking for a while, first time posting.
I have my eye on the following coins:
1887 Morgan
1951 Franklin
1939 and 1934 Mercury
The local coin dealer is asking $32, $12.50 and $2.50 ea., respectively, for these coins out of his "junk" bin.
How reasonable are these prices?
Also, a newbie-ish question: To what degree are the prices of these coins (in)dependent on the spot price of silver?
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Pillar of the Community
United States
7840 Posts |
 I believe the 25 times face is the going rate, so the Franklin and Mercs would be about right. Morgan & Peace dollars usually bring a bit more...sounds about right to me. Edited by oih82w8
02/07/2012 10:11 am
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Pillar of the Community
United States
3486 Posts |
The Franklin and the Mercs are reasonable provided that they
the both have a nice eye appeal.
The Morgan I defer to the dollar people.
Coins found in a "junk" bin are treated as bullion by dealers, and the price rises or falls as goes the price of silver.
But they provide a person such as yourself the opportunity to obtain "real" coins, with a numismatic history, for the price of bullion and that makes it worth the time to "dig!"
Be selective, but do not be afraid.
You cannot go very wrong now, can you?
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Pillar of the Community
 United States
1888 Posts |
The price of common silver coins out of the 'junk silver' bins (excluding silver dollars) is COMPLETELY dependent on the spot price of silver. A couple months ago you might have paid 20-22 x face, but silver has taken a rise recently. It is always possible to pull coins out of these bins that have more numismatic value than silver value, if your dealer does not check his culls all that carefully. Good luck cherry-picking. And yes, |
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Rest in Peace
United States
9104 Posts |
, argentum! |
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Valued Member
United States
240 Posts |
Really its worth 25x face?
A few days ago I bought a bu franklin(62) in an airtight for exactly $10 at gold and silver mine.(local coin shop) Looks like I am going back
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Bedrock of the Community
United States
14454 Posts |
right now a Morgan which is 90% silver is worth around 26 bucks in silver content so if you use 25x face that would be pretty good even if it fluctuated a few cents either way. Your Franklin is worth around 12 bucks in silver right now so 10 bucks was under spot
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Pillar of the Community
 United States
1195 Posts |
I gather from these comments, the Merc and the Franklin are priced at their going rates, which may increase or decrease, but the Morgan may be a hair overpriced. I Think my dealer does check his culls fairly well. He has various Morgan and Peace dollars in paper & mylar 2X2's with some, at-present, unknown annotations that I cant recall scrawled on them. He also sells BU Morgans for about $49, if I recall correctly, and I even saw an 1887 in those. In the mean time, I'll have to wait until I get some more recycling money. |
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Valued Member
United States
197 Posts |
I find this Web site useful for establishing a baseline: http://www. (124) Not Allowed - Auto-Removed .com/silver_coin_values.html To the base price, you need to figure in numismatic value and a reasonable premium for the seller. As others have noted above, you've been quoted good prices for the Franklin and the Mercuries, but I'd hope the Morgan would have a something extra going for it, numismatically, at that price. |
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Pillar of the Community
United States
2049 Posts |
Fair prices on the Franklin and Mercury dimes, but a bit high on the Morgan. I would look for something more in the $27-$29 range at the most for a well circulated Morgan that's a common date. |
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Pillar of the Community
United States
1195 Posts |
[quote="Newmismatist"]I find this Web site useful for establishing a baseline: http://www. (124) Not Allowed - Auto-Removed .com/silver_coin_values.html To the base price, you need to figure in numismatic value and a reasonable premium for the seller. As others have noted above, you've been quoted good prices for the Franklin and the Mercuries, but I'd hope the Morgan would have a something extra going for it, numismatically, at that price. [/quote] Why did this forum block out that site you linked to? |
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Rest in Peace
United States
9104 Posts |
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Pillar of the Community
United States
548 Posts |
But on the other hand, arguing about $2 is a bit silly, huh? Don't forget the time you spend trying to squeeze every last penny from the dealer. If he's been good to me in the past, I let him make $ off me. If he's been a scrooge, well....  |
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Pillar of the Community
United States
3755 Posts |
32 for a VG Morgan would be fine IMO. Even for a good if I liked the look of the coin. I do NOT base what I pay for Morgans on silver value.
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Pillar of the Community
United States
1195 Posts |
Quote:
But on the other hand, arguing about $2 is a bit silly, huh? Don't forget the time you spend trying to squeeze every last penny from the dealer.
If he's been good to me in the past, I let him make $ off me I feel that he's been reasonable, I got a Barber dime and quarter from him of satisfactory appearance for 2.50 and 6, respectively. Now, folks, what of the ~$49 price of a BU 1887 Morgan? |
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Rest in Peace
United States
9104 Posts |
Numismedia $47 for the lowest unc, but higher grades are worth more.
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Replies: 30 / Views: 3,318 |
Posted 02/07/2012 10:28 am
