| Author |
 Replies: 27 / Views: 2,342 |
|
Bedrock of the Community
United States
19949 Posts |
Today my dealer offered me a mix of silver coins for 12x over face. He called it "junk" silver, but he did not cherrypick the lot. Looking through them I saw: merc dimes, eisenhower dimes (many looked MS), wash quarters, JFK/Frank/Walking halves and maybe few Peace and Morgan dollars. I also saw some definate culls with holes or bent up here and there. It was quite a mix! He just tossed them into a counter and told me 12x over face, $454. He usually gives me a helluv a deal on bulk stuff, I wasn't sure about this one. Good deal? |
|
|
|
Rest in Peace
United States
9104 Posts |
Eisenhower dimes would be worth $300 each. Unless you need them, prolly no big deal.
|
|
Valued Member
United States
271 Posts |
I'm thinking that you could probably cherrypick through the lot, take out the high grade stuff and sell the rest back to a different coin store for junk silver price (which should be just a tad bit lower than the 12x that you paid). Who knows, all you need is a a couple key / semi-key dates in the mix and you'll come out way ahead.... also...I gotta ask...eisenhower dime? I don't think I've seen one of these before  Edited by cheungsta
07/29/2008 10:13 pm
|
|
Rest in Peace
United States
1943 Posts |
Two weeks ago I sold some silver for 12x face. Since then silver has dropped. I see kitco is paying 10.9x face. I haven't checked with my dealer to see where he sells at but 12x doesn't sound too bad.
|
|
Pillar of the Community
United States
2669 Posts |
BadThad.. please enlighten: Eisenhower dime?!
|
|
Bedrock of the Community
United States
12437 Posts |
My local dealer is currently buying at 11x face. He will sell to a select few customers at 12x face but walk-ins would pay 13x face. However, this would not include any silver $1s because they have a slightly higher silver content so if you got a few dollars as well, that would be a good deal.
|
|
Pillar of the Community
United States
860 Posts |
You guys are tough! Remind me never to show you my 1964 Roosevelt dollar.
Jim
|
|
Pillar of the Community
United States
2049 Posts |
As of today's silver spot close of $17.30/ounce, junk silver has an intrinsic value of about 12.5x face so 12x face is really not a great deal. You may find a decent date or two in there, but it's not such a good deal that I would jump on it myself. Like someone else suggested, I would cherrypick if allowed to, and pass on the rest.
|
|
Pillar of the Community
United States
5318 Posts |
Eisenhower dimes? |
|
Pillar of the Community
United States
619 Posts |
Go easy on BadThad -- he's a Lincoln Penny expert, not a dime guy. If that Ike dime has a full band, I say off it goes to PCGS. |
|
Pillar of the Community
United States
581 Posts |
Seriously, you're really asking a silly question. It's like asking "What should I pay for this grab bag - the grab bag guy usually gives me a good deal"
or
since you're a "lincoln" guy,
if your dealer does a similar thing with lincolns, would it be "deal" or "no deal"?
I really don't see how you expect us to give any kind of informed answer....
|
|
Pillar of the Community
United States
1000 Posts |
I mix up Eisenhower and Roosevelt all the time  Not sure why..... |
|
Moderator
 United States
188342 Posts |
Eisenhower dime.  No respect for the Ike. None at all.  |
|
Pillar of the Community
United States
6326 Posts |
|
|
Valued Member
United States
429 Posts |
My local dealer sells his junk silver anywhere from 10-12x face value depending on what it is. Almost everything is broken down into types and put into a plastic tube and sold that way. He will match and mix as much as you want and does it for the same price. I can not break down and buy it because I usually find something to put into my collection instead.
I would say that depending on what is in the mix it may be a good buy. If you remember what was in there look up the prices and see if it feels fair or not and go from there. If there are some coins that are higher grade like you said then it may be worth it to see if he will let you cherry pick through them, but if most of them are beat up then pass on it.
|
|
Bedrock of the Community
United States
20753 Posts |
Quote:
mix up Eisenhower and Roosevelt all the time
Not sure why.....
Probably due to they are both ex presidents and both now deceased. The Roosevelt Silver Dollars are really hard to find you know. And Jefferson Quarters have been really climbing in value. So why all the fuss? |
| |
Replies: 27 / Views: 2,342 |
Posted 07/29/2008 10:10 pm
....
