Need Advice

You did good on the half dollars....melt value as of right now is $12.47 per coin.
The quarter's melt value however is half that figure and I am not so sure, even though they being proofs, they would bring any premium. It sounds like they are "culls" ( culls being coins with enough blemishes that collectors won't pay a premium for them ) because they are no longer in the mint packaging. So my thoughts...great job on the halves....but the proofs not so much. If I were in your shoes I would try and see if you can resell the quarters fast, while silver is up, and try and break even on the deal. For you to make out long term on the quarters silver would have to trade at $70 an ounce.

Oh and I almost forgot...

Youre right they dont bring any premium for being a proof unless theyre a graded 70. At best the premium is minimal since you have to cut up a mint set but so many were made they arent rare by any means.

That's true...mental lapse there! Wow.....working too many hours! Sorry about the error on the quarters...if in fact your rolls of halves were $10 face and the quarters the same $10 face....then you did well on all accounts! My apologies!

Although I can't give you an answer, good choice on purchasing silver. It's way undervalued!

I think the best way to buy junk silver and even numismatic coins the cheapest is to hit the yard sales.

Here's a proven strategy to try:

1) print up some business cards (w/ your name, tel. #, and address etc.) identifying yourself as specializing in estate evaluation geared especially toward coins.

2) when discussing price state up front that you work on an average 30% - 35% profit margin on anything you buy.

3) justify your margin % by stating that auctions charge on average at least 25% commission on anything sold but there is never a guarantee that the seller will even get melt price especially if a small crowd shows up not bidding on coins etc...

4) secondly state that ebay and paypal charge you about 10%+ fees to market your purchased items etc. Explain that you have to purchase with a little meat left on the bone in order to make a profit.

5) the full 35% commission usually will be accepted if your pitch is prepared, flowing, and honest.

6) the majority of yard sellers seldom have coins out on display so asking at each new yard sale should yield positive candidates about 15% - 20% of the time.

7) when deciding on a final purchase price bring a wireless laptop(preferred for the large color display) to show the seller:

a) at least three completed listings during the past couple of days for all potential sales that you wish to complete and

b) close-up photos and final sales prices of more valuable numismatic coins where the grade also comes into play.

Many sellers have not a clue about the intricacies of coins and explaining your calculations using large visuals for the more valuable coins will be greatly appreciated and assist to enhance your professional image with the seller.

Give this a try and report back to this thread on how your first five attempts went.

In summary this procedure undoubtedly involves sales skills and an attitude of never giving up.

Use each rejection to build your confidence subjectively thinking that the next pitch will become even more successful because you have learned from the mistakes of the previously-attempted pitches etc.

Good Luck and NEVER EVER GIVE UP and ALWAYS SMILE even when you feel like sh*t.

You will succeed. I guarantee it.

mdpmedia

I think you got a fair deal.

*** Edited by Staff | The bad word filter is in place for a reason. Bypassing the filter and making the intended word obvious anyway is completely unacceptable. ***

Lists the current melt value of 90% silver coins.

That being said, The franklins are priced right, Now the proof silvers may have a small premium, to a larger premium. I do suspect as was said in an earlier post, the proofs are most likely culls, coins that are scratched etc... nit a big deal, they are still 90% silver so good fair, current price, but you got a chance there may be some premium. IF you got an accented hair kennedy in that roll, that would be nice, good premium there.


I would never buy that many rolls from my local Coin shop though, why you are wondering?
The local sales tax on that purchase would cost me 76$ locally, if I bought from provident metals, shipping would be 10$ or less saving me 65$.(no sales tax)

Defenitely check those kennedy proofs for the accented hair variety, you may have a winner there. I still think your buy was fine.

corporate international business-to-business sales since 1985 visiting primarily Spanish-speaking countries

one last set of tips for the successful pursuit of precious metal and numismatic coins:

1) When I first started out in sales having no experience and virtually no confidence I personally psyched myself up by daily repeating the following phrases:

a) 'I like myself',
b) 'I can do it', and
c) 'I feel great'

People will never warm up to you unless you first like yourself; that's a given.

2) Practice your rehearsed pitch(technically called an elevator speech that should NEVER exceed 30 seconds) for clients in front of a full size mirror; body language is 90% of the deal.

3) Exuding just enough confidence to portray the perception of essential knowledge in one's chosen discipline can sometimes be a daunting tight rope balancing act whose goal is to never make the client feel inferior or stupid...

You will loose the client in a second if that line is ever crossed.

And believe me I have lost my share of potential clients when pride took control when it was obvious that the client was incorrect and I let him know it.

Sometimes you just have to 'internally accept sans verbalization' that you are correct and eat humble pie by buttoning your lip.

Just go ahead and allow the customer to think that he was right and that you just learned something new.

And remember to ALWAYS SMILE and never smirk.

In end when all is said and done you will usually come out the winner and acquire the coins which was the original goal in the first place.

IMHO
mdpmedia