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 Replies: 9 / Views: 1,301 |
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Rest in Peace
United States
5375 Posts |
I was thinking of selling some silver dollars bulk, and I called up a few places to see what they would pay. I was surprised to find out that many were saying 12-13 and up, though one said 15 minimum. I assume I could get a buck or two more each if they're in EF or better. The melt value of a silver dollar is like $14 now, right? Because it's .77 oz silver. One guy said it was only .69 ounces silver, but I think he was trying to trick me or had no idea what he was talking about, unless the Red Book is wrong. It says 26.73 grams net weight, .900 silver, which seems right around .77. Oh yeah I just checked online he's a liar. grrr |
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Pillar of the Community
United States
1984 Posts |
There's just under 14 dollars worth of silver in a silver dollar (.7734 ounces). If you plan on spending a while in US coins, you'll memorize silver content by default. EF for common date Morgan/Peace doesn't much matter to a dealer, I have never known one to pay much more than melt for common dates even in EF. It depends on the dates. I personally think it's kind of hard to be both dishonest AND a moron, as dishonesty takes a knowledge of the opposite. $15 is a decent price--if you take into account ebay fees, you'll probably wind up with less. You won't lose anything by trying to sell them on this site at the price you think you deserve for them either. |
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Rest in Peace
 United States
5375 Posts |
Heh yeah I only want 1-2 over melt in VF-AU for common dates, is that too much to ask? Yeah, he was probably just dishonest, I doubt he didn't know...I was pretty surprised about getting quoted at 12-13 though, though some said they'd pay more for a big lot.
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Valued Member
United States
206 Posts |
Hey I'll take some silver dollars for 1 buck over melt any day
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Rest in Peace
United States
5375 Posts |
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Pillar of the Community
United States
1228 Posts |
some silver eagles are worth some bucks over spot
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Pillar of the Community
United States
619 Posts |
If a dealer offers you 12-13 for common date Morgans and Peace, that is a fair price, given that they have to make a couple of bucks too. You might list them in the sell (or auction) forum and see if they move. Keep in mind that AU Peace dollars at $20 in this forum have not moved for many weeks. |
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Valued Member
United States
429 Posts |
The other question is how much has this person bought lately? If he has been overwhelmed with silver coins then his price is going to drop as well. I have noticed that our local show is being bombarded with a lot of silver and gold and a fair amount of all varieties (including foreign, which they do not usually carry). You also have to look at it as a resellers point of view also, you are never going to get the price you want because they need to be able to resell the item. If 20 different people come in selling common dates and increase his inventory then he has to sit on them longer in order to get rid of them and most likely will have to drop the price to about what he paid for them to get rid of them. With the current jump in silver and gold $15 is a great price right now and you may want to look into it more. You may also want to increase your selling area to other states as well. Look up places and numbers on the net and call around and see what you get offered there. This is not the safest or wisest thing to do but may be an answer if you are wanting a higher return on your coins.
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Pillar of the Community
United States
2049 Posts |
Quote:If a dealer offers you 12-13 for common date Morgans and Peace, that is a fair price, given that they have to make a couple of bucks too. You might list them in the sell (or auction) forum and see if they move. Keep in mind that AU Peace dollars at $20 in this forum have not moved for many weeks. I agree. A couple of the local shops here sell common G-EF Morgans and Peace dollars for about $16. I find them at the coin shows for that amount as well. Buying at $12-$13 doesn't leave a whole lot of profit for the dealer. Have you tried selling them here on the buy/sell forum? What is your expectation as far as what you want to receive per coin? As someone said earlier, even in EF, common date silver dollars dont command a premium. They really need to be in AU or BU to get any extra cash. |
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Valued Member
United States
245 Posts |
I think you should make a list of dates, mint marks, and preferably pics and post them in the "for sale" section here......for us Coinaholics!  |
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Replies: 9 / Views: 1,301 |
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Posted 05/23/2008 6:23 pm
