Price Paid For Silver At Coin Show.

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Author	Replies: 7 / Views: 3,123
edgman Valued Member United States 402 Posts	Posted 05/24/2010 1:00 pm As stated in my last post. I went to a coin show Sat 22nd mainly to try and pick up 2 Morgans I need. Took my silver with me. After getting different rates I finally sold the silver to a dealer at 14 times face because he gave me a $40 break on a 1888-S NGC AU58 Morgan(paid $180 for it). Beautiful coin, looks better than the MS stuff. I sold almost $400 worth of silver to him. None of the coins were culls and most had some low numismatic value especially the Washington quarters. What about the price I got? Was it good or are others here getting any better prices? The day I sold, silver was at 17.72. Reason I ask is that I have about $100 more in silver face value. That's $1,400 bucks minus the 25% commission to the wife who brings silver coins home from from work. Quarter here and there adds up. Those CC Morgans are looking better. Had a 100 rolls of Wheaties with me and only one buyer offered me 2 cents each for the 30's and below stuff. Turned him down. Nobody is buying Wheaties anymore. Too much other new stuff to collect. Remember when proof sets only had 4 or 5 coins? edgman Report this Post to the Staff

wheatguy Pillar of the Community United States 1534 Posts	Posted 05/24/2010 1:02 pm 14x face is an extremely good buy price in my opinion. Since he traded you the Morgan for the silver his buy prices may be different. I would have expected 12x face or possibly 13x if you were lucky. Report this Post to the Staff
edgman Valued Member United States 402 Posts	Posted 05/24/2010 1:59 pm Most of them were giving 12 1/2x face but 14 for Morgan and 13 for Peace but since mine had some numismatic resale value especially the Quarters and Roosevelt's that's why he gave me more. The others were thinking only melt value and didn't look at the coins like he did. Took almost a full set of Roosevelts and pulled out any S's and everything worth more than a buck before I took them to the show. Same with the Washington's. Some of the 1923 Peace dollars would probably grade XF to AU, but what would I do with 20 of them. He has the time to sell them. The wheaties surprised me. Got a couple hundred rolls of them. Will try ebay in the fall with them I guess. They are all broken down in wrappers by year and mint mark. Have to put 20 rolls in a bag, shake them up and sell them as "unsearched". Wouldn't be able to sleep at night if I did that though. edgman Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 05/24/2010 2:26 pm Remember that silver dollars are a different class altogether. The X face premium is for junk 90% (dimes, quarters, halves) only. $14 for Morgans and $13 for Peace is low unless they're damaged/holed/etc. 14X face for 90% junk is great though. Keep the silver dollars separate when selling. ANA #R3154474 Report this Post to the Staff
Gothic Florin Pillar of the Community United States 2541 Posts	Posted 05/24/2010 3:38 pm I'd take 14X... where was this coin show again? Report this Post to the Staff
edgman Valued Member United States 402 Posts	Posted 05/24/2010 4:45 pm Gothic Florin It was in Aberdeen MD. Its only once a year but the buyer will be at the Baltimore show in June. Might have a card with his name on it. bherring1964 Only sold 3 Morgans that were not suitable for any collection and I had 18 1923 Peace dollars that are going for $18 a pop in AU at most shows. Got tired of looking at them. I'm happy you guys thought it was good. I used the silver coin calculator on the coinnnews site. Ran every coin through it and it totaled $417. Since he gave me $400 and $60 off the 1888-s Morgan I felt I got a good deal. Now I need the 1886-S Morgan which you guys talked me out of buying on ebay last week. Glad you did though. The 88-s is beautiful. Only found one 1886-S at the show and he wanted a fortune for it. Also what I learned from you guys is that the AU's are sometimes nicer than the MS BU's with all the bag marks, etc. Since you guys are so nice and helpful and sometimes save me money, I will make a small donation to the Forum on Wednesday (Social Security check day). Thanks again edgman Report this Post to the Staff
Halfwitty Pillar of the Community United States 1523 Posts	Posted 05/24/2010 4:51 pm There are plenty of guys out there that would give you 16-17 dollars for morgans or Peace dollars even at good. Report this Post to the Staff
edgman Valued Member United States 402 Posts	Posted 05/24/2010 5:07 pm Halfwitty Well, I was going to offer them up for sale along with all the other silver and wheaties right here on the Forum but as soon as I got my 50 posts they changed the rules to needing 250 posts to sell on the Forum. Would have rather sold them to collectors here. Anyway, at most shows you see boxes of Morgans and Peace dollars selling for $18 a pop and they are a lot better than XF. I don't know of anyone getting much more than $15 for 1923's in less than XF. edgman Report this Post to the Staff
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