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 Replies: 7 / Views: 1,925 |
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New Member
United States
19 Posts |
I was at a coin shop and the man quoted a price of 13X on some junk silver, and I would like to know what he was referring too. Thanks in advance.
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Pillar of the Community
United States
4085 Posts |
He is saying he will sell to you at 13 times the face amount of the coin. So a silver dime would be $1.30, a silver quarter $3.25, etc.
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Pillar of the Community
United States
657 Posts |
That sounds like a fair offer, IF some of the junkers are in decent shape... or if silver prices rise just a bit.
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Bedrock of the Community
United States
10635 Posts |
IF is a big word. Remember, your coin dealer has already searched through that "junk" silver and as determined those coins have no numismatic value. And dealers aren't real keen on you going through a bunch of junk (but that could just be my local dealer). Chances are you would be looking through their rejects. But, if you're just starting out, its a good way to get some of your desired types of coins. At 13x face, a silver dollar (if available) would be $13. and that sounds like a good deal, but just realise it's going to most likely a well worn coin.
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Valued Member
United States
128 Posts |
if you want silver for silver, buy a bar of it. its as cheap as its been in a long time.
if you want coins, buy something in better shape, research its value and understand that a shop will have a surcharge on that to make a profit just as they will buy it lower if you sell them one.
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Valued Member
United States
265 Posts |
While I've never really had anyone dislike my picking through junk silver, I have found plenty of nice ones doing so. Depending on the dealer, I can sometimes find BU silver roosevelts and washingtons. Its usually common date stuff, but they are still nice coins. I've also gotten some nice mid-grade walking liberty and Franklin halves. The best I've gotten in a junk silver box was probably some AU condition Mercury dimes. I did find a worn 1876 CC Seated dime, but the guy looked at it and said it wasn't meant to be in there. Darn. So I'd say not every dealer has damaged or garbage coins in their junk silver bins, you just have to see who has the better quality. |
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Pillar of the Community
United States
7273 Posts |
My local dealer has a lot of junk silver and most of it is good enough to put it in a flip. I even found a barber 50 cent.He sells at 13 times the face amount for Dimes, Quarters and half dollars, the dollars are either 16.50-18.50 depending on Peace or Morgan and condition.
Edited by hfjacinto
11/27/2019 08:43 am
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Pillar of the Community
Canada
3733 Posts |
i have never had issue with searching through junk buckets. But it wouldn't hurt to ask first, I have found many very nice coins, and even a few semi key dates..Good luck.
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Replies: 7 / Views: 1,925 |
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Posted 11/18/2019 7:10 pm
