| Author |
 Replies: 20 / Views: 11,144 |
|
New Member
United States
3 Posts |
Is that about the going rate, I can expect from most coin or pawn shops? With 13x face being about spot price, I had a price in mind of 10x face. I had a few quarters, and dimes, with a couple being Mercury dimes, I wanted to get rid of. I then went by a coin shop which was a little better offer at 7x face. I had a couple of rolls of 40% kennedys to sell, but was only offered $1 a piece for them. I was a little stunned at the offer being that much lower than I expected, and gathered up my coins rather quickly. Maybe I need to go back to the pawn shop and set up a deal with him to be his buyer at 10x face. Then he could instantly double his money, and I could obtain silver at what I though was a fair price as well. |
|
|
|
Pillar of the Community
 United States
5953 Posts |
5x face is way out of line for 90% silver
you could sell it to AMPEX or Kitco for a lot more.
11 x face would be more like it.
With the big names paying around 11.5 I would not be going to that pawn shop.
|
|
Pillar of the Community
United States
2661 Posts |
|
|
New Member
United States
1 Posts |
Your best bet would be to find coin shows going on in your area. Most coin dealers are paying 11-14 times face at this time.
|
|
Pillar of the Community
United States
619 Posts |
Mossie, once you've accumulated 250 posts, you could sell your stuff here. 10X - 11.5X would be scooped up in a hurry.
|
|
Pillar of the Community
Philippines
1156 Posts |
for silver, usual here is 20xface at VF Bullion is @bullion value 7x face is a giveaway  |
|
Pillar of the Community
United States
2120 Posts |
Thats a rip off. I wouldnt sell for less than 11x. only if I need money bad.
|
|
Valued Member
United States
266 Posts |
The coin shop by me offers 12x face. Apparently that's pretty good.
|
|
Pillar of the Community
United States
1080 Posts |
3 coin shops in town... one offers me 5x, one offers 10x, and one varies with spot (right now about 12.1x)
I've sold coins at all three, but you can guess which one I sell the silver to.
|
|
Pillar of the Community
United States
1080 Posts |
by the way, I usually get about 4.5x spot on the 40% stuff from the top coin shop. You might look for forum members in your town and ask who they deal with. That's how I found my go-to shop.
Edited by specksynder
07/07/2010 11:26 pm
|
|
New Member
 United States
3 Posts |
Thanks for the replies. I live in a small town pop 14,000, and a couple of pawn shops, and one coin dealer is all that's here. The coin shop guy has local tv spot ads talking about paying TOP $, for your gold, and silver, and warnings about avoiding the crazy mail in ads. From doing some ebay and craigslist research I thought 10X face would be in line for my selling price. It looks like from the replies it is, but just not here in my area. Sounds like we could use another coin shop in town. |
|
Pillar of the Community
United States
4333 Posts |
Was at my local shop yesterday. I bought some 90% halves at 13.5 X face. He's paying 8 X. He has no trouble turning the junk silver. He's making good profit, but he's running a business and overhead eats much of that profit. I think he caught on to whats being paid on ebait. I don't feel real bad paying his prices as he lets me cherry pick Walkers and Franklins and sometimes Barbers, decent coins a little over melt.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Valued Member
United States
432 Posts |
My local shop buys at 11x face, he usually sells at 12.5x. Just depends how much he has at the time.
|
|
Pillar of the Community
United States
2335 Posts |
A lot of it has to do with your location. In my town buyers with a store front pay between 5-8X face. On scrap gold they pay 30-50% of spot. I understand they have overhead, & local law makes them keep any gold scrap purchased for at least 30 days so they also have the risk of price changes. I'm not willing to accept those prices & sell through other venues.
|
|
Pillar of the Community
United States
2120 Posts |
Another thing to keep in mind if you want to just sell lots of silver. you can probably get 12x face from members here. its a good deal cause you get more than a dealer would pay, and the members pay less that a dealer would charge.
Its a pretty good middle area.
|
|
Valued Member
United States
103 Posts |
I run a pawn shop and for junk silver we pay 10xs face. Better condition stuff I'll pay up to 13xs. That's only because I have competition around though. I'd pay 5xs face if I was the only game in town.
|
| |
Replies: 20 / Views: 11,144 |
Posted 07/07/2010 8:06 pm
