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 Replies: 11 / Views: 11,934 |
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Valued Member
United States
402 Posts |
Forgive the way I worded the title. Last post got pulled because I titled it wrong. Here goes! I have approx 3-4 pounds of Silver coins I am trying to sell to local dealers basically for the melt price. They contain war nickles, dimes, quarters, half dollars and silver dollars. They have no numismatic value to me but could be small value that way to a dealer. Well, yesterday I called local three coin dealers and got the following answers. First was paying 9 times face. Second was paying 10 times face and the third was paying 10 times face and 12 face for the silver dollars. Since silver is about $17 an ounce do you think this is a very low price? Is there a place online I could try for info on prices? These dealers are from the DE area.
Thanks again. Hope this don't get pulled!
edgman/Tom R
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Pillar of the Community
United States
672 Posts |
I have a dealer (in VA) that paid me essentially spot for kennedy's
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Bedrock of the Community
United States
19935 Posts |
My dealer paid me 12x face about a month ago for misc "junk" silver coins.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
625 Posts |
Wish I could find a dealer that would pay spot. My one and only dealer near me pays like 9x face.
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Pillar of the Community
United States
2049 Posts |
I sold some to a dealer for 12.2x face a week ago. 10x is low as is $12 for silver dollars. Local dealers here are buying those for $14 and up, but maybe it's a stronger buyer's market here than where you are. Have you checked to see what the APMEX top 40 buy prices are to use as a guide? Remember their buy prices are based on doing $10K or more in a transaction, but at least it will give you a rough idea. |
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Pillar of the Community
United States
2049 Posts |
Quote:
Wish I could find a dealer that would pay spot. My one and only dealer near me pays like 9x face. Wow that's really low with spot around 13x face. |
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Pillar of the Community
United States
2661 Posts |
Try this link. It will help you determine your actual silver value. http://www.coinnews.net/tools/autom...n-valuator/# I use it and discount that value 15%, allowing the buyer to also turn a profit. I see it like this.........It is mine and if they buy it they pay my price or close to it. We do the same when we buy from them. Sometimes I sell, sometimes I don't. Bottom line is trading is a two way street. You may get a suitable counter offer using this method that will be above their flat 9x or 10x face offer. |
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Valued Member
 United States
402 Posts |
Wow! That silver coin calculator is neat. Got to get all my stuff together and run it through the calculator. At least then I will know what I have. Well, from your answers it seems in some areas the prices I got were the same but other say 11 to 12 face is paying now. I really don't have to sell right away. Just have more money to buy more Morgan's with. Will see what AMPEX is paying also. Looking at a few of the 1923 & 24 Peace dollars I would say they are in real nice condition, I know one would probably go AU50, so they should bring more than $12 even if they are commons. Maybe I will wait for the Baltimore show. Thanks again edgman/Tom R |
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Pillar of the Community
United States
2661 Posts |
Quote: Looking at a few of the 1923 & 24 Peace dollars I would say they are in real nice condition, I know one would probably go AU50, so they should bring more than $12 even if they are commons. I would say you could do better than $12 for those outside of dealers. Here in my area $10 is all any dealer will offer for common Morgan's and Peace. Get yourself 50 quality posts here on the forum and you could get a little more than $12 I would say if you were to offer them up here, maybe. Edited by Tim Stroud
04/13/2010 5:50 pm
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Pillar of the Community
United States
1409 Posts |
Tim beat me to it. Get your 50 posts and people here may buy it! Me included. LOL.
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Pillar of the Community
United States
968 Posts |
Some refineries that you can send coins to are paying 90% of melt value. So I wouldn't accept a deal much below that. By the way, silver is at $18.20 today. Make sure you know the actual spot price when you sell it. $17 is a good ballpark since it was at that for a while, but when it comes time to do the deal you need to be sure you know exactly what your coins are worth.
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Valued Member
United States
402 Posts |
Working on getting my 50 posts. Would rather trade than sell anyway. Once I start asking about my Lincolns I can get up there. By the way, that "Coin News" site is quite amazing. Glad it was recommended. I will be going to Phila Friday and will try a few dealers there for spot prices.
Thanks again
edgman/Tom R
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Replies: 11 / Views: 11,934 |
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Posted 04/13/2010 3:54 pm
