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 Replies: 15 / Views: 3,071 |
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Pillar of the Community
United States
533 Posts |
Title kind if says it what's the best place to buy junk silver dollars for the silver content more than anything? Like half or full rolls? I don't want complete culls but nothing worth grading either like 1921 Morgans in fair condition?
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Pillar of the Community
United States
1450 Posts |
I saw a bunch of "junk" Morgan and Peace dollars at a local coin shop last week. The prices were not at melt or spot prices for silver. They were just very common and low grade condition coins. They were still selling at a premium compared to bullion price. They were cheap by Morgan standard. This would be the Village Coin Shop in Tampa, Florida. I don't think they sell online but not sure. |
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Valued Member
United States
63 Posts |
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Bedrock of the Community
United States
94367 Posts |
My LCS always has a boxfull at the lowest price to encourage collectors to keep coming back.
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Bedrock of the Community
United States
11951 Posts |
I don't really get out of my area ...
The LCS's near me will have culls selling around $18.
VG to Fine around $23 to $24. Those lower priced dollars
sell out first .. and they pretty much sell all they have.
It has been a long time since I have heard of Morgan's
selling close to melt.
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Pillar of the Community
United States
2403 Posts |
Most LCS's have a "Cull" coins boxes or baskets. You can find just about any denominations in these. Morgans do tend to have an extra premium to them. If you want them for the silver to hold, try making an offer on whole lot(of Cull Morgans) and see what they say. You never know.
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CCF Advertiser
United States
1533 Posts |
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Pillar of the Community
United States
6370 Posts |
My local "We Buy Gold" shop sells Morgans for close to spot, no matter the grade. I picked up 11 AU Morgans for $18 each not too long back.
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Valued Member
United States
294 Posts |
I would assume that any coin dealer will have a sufficient supply of junk coinage, and you can probably get buckets of crappy silver dollars all day long.
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Pillar of the Community
United States
1306 Posts |
Try the "gold & silver buyers", I've also had great success at my local jewelry store also.
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Pillar of the Community
United States
1450 Posts |
If you buy a Morgan or Peace dollar for $18 dollars you are not buying silver at spot price. These coins do not contain one ounce of silver. You know dealers probably pay $12 for these coins since they contain about .77 ounces of silver. So you are paying almost true spot price of ounce of silver and getting .77 ounces of silver. If you want silver why not buy bullion? |
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Pillar of the Community
United States
1450 Posts |
If you were to buy silver Washington quarters you are getting .18 ounces of silver per coin. Now that is far from a quarter of an ounce of silver. Same with Dimes which are .07 ounces of silver. To be real 1/10th of an ounce of silver they are not! You buy one pound of silver dimes you are getting .7 pounds of silver. |
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Bedrock of the Community
Australia
21786 Posts |
Common Morgan and Peace dollars below about about VF + lower premium can be a bit harder to sell, than melt value plus premium examples in better than VF. For this reason, better to pay a tiny bit more premium for better than VF, if you wish to re sell years later. |
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Pillar of the Community
United States
1911 Posts |
Every once in a while I can get pretty worn/damaged morgans or Peace dollars for spot price at my LCS. @Typecoin that would be awesome getting AU for morgans for $18! :D |
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Pillar of the Community
United States
968 Posts |
You are a little off on the amount of silver in a dime. If you buy 1 lb of silver dimes you are getting .9 lbs of silver as the coin is 90% silver. You are absolutely correct though that if the goal is to buy silver at the cheapest price you have to go with bullion. Coins will almost always carry some premium.
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Pillar of the Community
United States
1450 Posts |
The silver dime is 90% silver but the silver content in the coin is .18 ounces of silver. Look it up in the Red Book. For silver Roosevelt dime there is .07234 ounces of silver in the coin. The coin may be 90% silver but that does not make it .1 ounce of silver. None of the coins are actually 90% of one ounce of silver. A Peace dollar is .77344 ounces of pure silver. When you buy what you think of as spot price of silver Morgan you are paying much more than say silver eagle for the silver in the coin. I am just quoting the Red Book on the actual amount of silver in these coins. |
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Replies: 15 / Views: 3,071 |
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Posted 08/06/2016 08:48 am
