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 Replies: 16 / Views: 3,843 |
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New Member
United States
12 Posts |
Is the silver melt value an appropriate sale value of these coins? Many of them seem near pristine. I'm not an expert but many of these look like grade 60 coins including some of the Mercuries. If I could buy these for the melt weight, would it be a good deal?  hi-res version: https://drive.google.com/file/d/0B3...?usp=sharingEdited by wilsotc
05/03/2016 12:02 am
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Bedrock of the Community
United States
10982 Posts |
 Quote:
If I could buy these for the melt weight, would it be a good deal? It appears it would be a good deal without even knowing any dates. Remember melt is 90% of the total weight and troy ounces are 31.1 grams. An easy formula I use for 90% fractional silver is: Spot Price X Face Value X 0.715 = Melt Value. Good luck! |
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New Member
 United States
12 Posts |
Being new to coin valuation I can't be sure I'm correct, but my research indicates at least a $3 average value for these coins. Am I way off?
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Pillar of the Community
Canada
5246 Posts |
Melt value per coin is US $1.26 as of this morning.
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Rest in Peace
United States
18456 Posts |
Have you checked for key dates on the Barbers and Mercs ? You don't want to be selling any of them for melt .  |
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Pillar of the Community
United States
1602 Posts |
T-BOP I think he's buying.
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New Member
United States
12 Posts |
The story goes that these were purchased as junk silver in the 70s so I'm guessing any key date coins are removed. They're being sold for roughly their melt value and I have an option to buy so long as I match the bulk purchase offer. There are a smattering of Barber coins in worn shape. There are many hundreds of pounds of coins including quarters and half dollars as well.   |
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Bedrock of the Community
United States
10982 Posts |
Quote:
Being new to coin valuation I can't be sure I'm correct, but my research indicates at least a $3 average value for these coins. Am I way off? Yes, you are way off. As noted melt value is estimated at $1.26/each. |
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Pillar of the Community
United States
1911 Posts |
From the looks of it if you can get it for melt price that is a good deal. I buy every week from my lcs junk 90% silver at spot and am able to resell for a small profit online.
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New Member
United States
12 Posts |
So the concensus is that these coins are completely typical of bulk silver and have no numismatic value.
Thanks for the help everyone
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Valued Member
Canada
496 Posts |
I'd be happy to come across piles like this.I can only afford pocket change collecting and living in Canada,I don't get that much US coinage.I don't collect for an investment.Just the pure pleasure of haveing a year set is good enough for me.I see lots that would fill out my meager collection. |
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New Member
United States
12 Posts |
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Pillar of the Community
United States
1054 Posts |
From a retail standpoint, you shouldn't be paying more than 1.75-1.85 a piece for the dimes. Obviously, that value goes down for a bulk lot.
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New Member
United States
12 Posts |
The coin dealer who's offering to buy is offering a bit over 14x face value. So he's getting the dimes for a bit over $1.40. That's only slightly less than I can buy bulk silver anywhere and around $3/oz over spot so I can only assume he considers 1970 junk silver to be more valuable than today's.
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Bedrock of the Community
United States
10038 Posts |
Another angle to look at is that if these were bought in the 70s, a lot of the varieties modern collectors value were not known back then. There could be some nice double dies, etc, hiding in that pile that would go for more than silver.
How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Pillar of the Community
United States
4085 Posts |
I would buy that lot at melt value all day long. The melt value is the minimum that they would ever be worth. If melt is 12.6x face and you can get them at 14x face, I would back up the truck and buy all you can. The WORST coin in that lot is worth what you would be paying for it. Many of the coins you could sell for a premium I think. BU Roosevelt dimes are going for $2-3 for later dates, $6-8 for 40's and early 50's. Similar range of prices for Mercury dimes - common late dates $2-3, earlier dates are more. Walker halves - $10 is not unusual at all. Similar prices for Franklin halves. Barber coinage will carry a premium as well. I would say just as a guess that the numismatic value of a pile like that is at least twice melt value, possibly 3 times melt value if you find a higher proportion of better dates or mints. It is a good price for a nice collection of silver in my opinion. Edited by KenKat
05/03/2016 9:20 pm
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Replies: 16 / Views: 3,843 |
Posted 05/03/2016 12:29 am
