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 Replies: 27 / Views: 4,541 |
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New Member
Canada
10 Posts |
I am not a collector or trader. I live in the west end of toronto and have about 40 canada half dollars from the 1960's and a few other coins. They are not slabbed or graded. I guess they were in circulation. What is the easiest way to sell them at a reasonable value. I guess this would be to a dealer or collector because I am not going to leak them out on ebay bit by bit. thx |
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Pillar of the Community
Canada
1747 Posts |
craigslist is where you may get the most money, but be careful meeting people, meet only at a bank or coffee shop in daylight hours. Dealers need to make money so they will likely pay less than you can sell yourself. ebay is another option, but sell as a lot all in one go, you may get what you want that way. |
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Pillar of the Community
 Canada
5588 Posts |
Fifty cent pieces are an oddity to most folks under 50. However, the nickel 50 cents that follow ... most parking metrers read them a loonies so you have 100% profit right there.
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Pillar of the Community
Canada
3234 Posts |
Quote:
However, the nickel 50 cents that follow ... most parking metrers read them a loonies so you have 100% profit right there. Just make sure that you don't slip the silver ones in those meters by mistake..! |
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Pillar of the Community
Canada
1747 Posts |
I don't think they would fit, the size changed considerably from the silver 67's to the nickel 68's. the newer ones are sometimes mistaken for quarters, because they are only slightly bigger in diameter.
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Pillar of the Community
Canada
2366 Posts |
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Pillar of the Community
Canada
2360 Posts |
Worth about $6.50 each as bullion.
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New Member
 Canada
10 Posts |
Quote:
Worth about $6.50 each as bullion I think that is the information that is most helpful. Fits with what I saw on ebay. Do you think that price is wholesale or retail. i.e. If I went to a bullion dealer or a coin dealer what is a reasonable selling price? |
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Pillar of the Community
Canada
3234 Posts |
My experience is that they will give you ~ 70 to 80 % of melt.. They never ..ever... loose on the deal..
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New Member
Canada
10 Posts |
I would expect that any dealer would want to maximize his profit - not surprising. Just help me understand your comment.
Do you know the weight and purity of the half dollar - I thought it was something like 80% silver? Weight?
Multiply by 70-80% and that is a selling price. (Probably 6.50!)
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Pillar of the Community
Canada
3049 Posts |
Most respectable dealers are very upfront on their prices and what they will pay for "junk" silver...
Gatewest as of right now has their price listed at 11.70 * (face value) or 0.51/gram
That works out to around $5.80 per half dollar if it's 80% silver.
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Bedrock of the Community
Canada
21606 Posts |
If you go on Kijiji, there are always dealers buying 1967 & earlier silver coins for 10-12 times the face value,
so you should get $5.00- $6.00 each wholesale.
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Pillar of the Community
Canada
5588 Posts |
All 1920-67 Canadian silver (.800) has .6 troy ounces per face dollar. Just work out the math with the current scrap price and most reliable dealers will give 85-90% of scrap. As a coin wears, so does the amount of silver that's in it, hence the reduction in what a dealer will pay for melt.
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Pillar of the Community
Canada
2360 Posts |
11.66 grams per coin x .8 (800 silver) = 9.328 grams silver per coin9.328 grams/31.1 grams troy ounce silver = 0.2999 ounce per coin40 half dollars x 0.3 ounces per half = 12 ounces of Silver
Silver is $20.86 per ounce Canadian 12 ounces x $20.86 per ounce = $250.32Gatewest is offering $11.68 x Face You have $20 face $11.68 x $20 = $233.60So Gatewest is only taking ~$17.00 in the exchange for their work. That is a fair deal and all junk silver is bought and sold this way. http://markets2.gatewestcoin.com/bullionBuy.html |
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Pillar of the Community
Canada
867 Posts |
Ok, IP is in Toronto, Gateway is in Winnipeg, correct? Any coin dealers in TO to recommend? it's a no brainer here in Vancouver, as J&M will take anything silver/gold...check their website for up to date bullion quotes
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Pillar of the Community
Canada
2360 Posts |
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Replies: 27 / Views: 4,541 |
Posted 05/25/2015 3:20 pm
