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 Replies: 15 / Views: 1,764 |
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Valued Member
United States
297 Posts |
So because silver prices are so low I decided to buy some silver on craigslist, and one guy responded saying he had 60$ worth of silver to sell me and so when he came over I realized I had misunderstood him, he actually had 60$ in silver to sell me not 60$ worth of silver. And so we went through most of the stuff and in the end I only had enough for part of the collection (im buying the other part tomorrow) but heres what I bought today: 3 Morgan dollars1 Peace dollar1 Silver American Eagle 123 Roosevelt dimes (dated 1964) 63 Washington quarters dated (1964) In total I payed $595 for everything so pretty good,  and now I am wondering what I should do, I had not intended on buying so much silver but the price was good so I did. Iit would be pretty hard to trade this much (plus I have another half tomorrow) so I want to know what would be the best way to turn this silver into coins that I need. Should I trade it, sell it on ebay and just buy the coins I want? Any ideas?Also I dont have an ecrater store. Thanks *** Moved by Staff to a more appropriate forum. *** |
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Pillar of the Community
Canada
2781 Posts |
you paid $595 for all $60? or $595 for the $33.05 on your list? not counting any numismatic value, a pawnshop would have given him around $525-$575 for the $33.05. if you got all $60 for $595 then ya - as for what to do - hold on to it and wait for silver to go up! Edited by Wade
07/19/2012 12:43 pm
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Pillar of the Community
United States
2602 Posts |
18x face value is a good deal right now. ebay may eat into your thin profit margin. Might be able to work it in smaller lots back on Craigslist for a little above silver melt, perhaps? Or make a few partial sets of the quarters and dimes that include some AU-BU pieces, which could bring above melt. |
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Bedrock of the Community
13014 Posts |
If you decided to go ebay I would suggest whether or not you list individually or as a lot to price it above melt where after the 12 percent youd make some money. If it doesn't sell you still have the silver. If you paid the 595 for half without some price changes in silver you wouldnt really be able to make anything selling to a pawn shop or dealer. You may however be able to work out some trades with it for the coins you are looking at depending on how expensive they are |
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Pillar of the Community
United States
561 Posts |
I would have to agree with wade, wait for silver to go back up and then make a move. If you are trading it for the coins you want you will likely get about what you paid for it in trade so to me it was pointless to buy the silver just to trade. When silver prices start to move back up you will not only get more for what you bought but there will also be more activity buying silver and should allow you to get more than spot. Just my opinion though.
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Valued Member
 United States
297 Posts |
perfect thanks guys, so I decided to just put it in a box and wait for silver prices to rise. And wade it was for half, I wanted to give a fair price but for the other half I think I will pay around closer to 14-15 times face rather than 18-19
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Bedrock of the Community
13014 Posts |
Quote:
If you are trading it for the coins you want you will likely get about what you paid for it in trade Thats usually true but sometimes you can get a better deal as they make look at it as a lot of coins ect instead of necessarily just running the melt prices in their head. Couldnt hurt to try |
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Valued Member
United States
297 Posts |
also one more question I said I would try and pay around 14-15 times melt but what do you think I should pay, what would you guys pay for around 30$ in silver? Also he has many dated wheat pennies from the teens to the 50's any ideas on what I should pay for those (rolls of 50) and along with these he has around 8 rolls of 1982 pennies (labeled) are these worth buying?
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Pillar of the Community
United States
561 Posts |
Well, you can try for 14-15 times face but he will get a better offer from a cash4gold guy. As for the 1982 cents I wouldn't waste my time but the wheats could be fun to search through but I am not certain of the going rates for bulk wheats, maybe 3-5 cents each my guess.
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Pillar of the Community
United States
2077 Posts |
I can tell you that ebay sucks for small quantities. I usually figure 15%, but for less than $10, it's more like 30%. |
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Pillar of the Community
United States
3184 Posts |
keep it, you got a great deal
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Valued Member
United States
161 Posts |
Sell it all to me for $10 more than what you paid. That's $10 profit! I'll even pay for shipping!!
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Valued Member
United States
297 Posts |
haha even if I wanted to I couldn't you have to have 250 posts I believe to buy
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Valued Member
United States
297 Posts |
Alright so for the other half I got: 273 Roosevelt dimes 1 1964 Kennedy Halve 7 Washington quarters24 rolls of wheat pennies (sorted by dates in clear plastic tubes) 8 rolls of 1982 pennies also sorted by composition etc. 1 Dansco Kennedy halves w/ Proof book. This half was 500$. Il post some pics later for anyone who wants them |
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Valued Member
United States
458 Posts |
Pretty good deal on the second half as well :)
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Valued Member
United States
297 Posts |
yeah overall I think I got a pretty good deal, now I just have to figure out what to do with all the wheat pennies. I have rolls from 1918 to 1960 all with around 50-55 coins in them . Suggestions?
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Replies: 15 / Views: 1,764 |
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Posted 07/19/2012 11:46 am
