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Cull Question

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Author Previous TopicReplies: 6 / Views: 2,817Next Topic  
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Sparhawk's Avatar
United States
80 Posts
 Posted 09/28/2010  10:57 am Show Profile   Bookmark this topic Add Sparhawk to your friends list Get a Link to this Message Number of Subscribers
I was looking at getting some silver through AMPEX and clicked on the "Clearance" tab. They are advertising Morgan silver dollars designated as "cull".

From a numismatic point of view, they are worth nothing but the silver content...which I would imagine is pretty close to original except the wear they have incurred. They are going for 18.68 each. $3 under spot.

These would be considered..junk Silver? Worth it?
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biokemist6's Avatar
United States
12437 Posts
 Posted 09/28/2010  11:14 am  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
They are not $3 under spot because a Morgan contains less than 1oz of silver. At the current spot price of $21.53, a Morgan contains $16.65 worth of silver. APMEX is charging $2 over spot for those culls which is a bit too much IMO. Very worn coins are in the cull category as well as damaged coins so they really are the "bottom of the barrel".
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remmy1100's Avatar
United States
380 Posts
 Posted 09/28/2010  11:17 am  Show Profile   Bookmark this reply Add remmy1100 to your friends list Get a Link to this Reply
if you need to check the melt value of your coins... check out https://www. (124) This link is not allowed by the Staff .com for a calculator.
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Sparhawk's Avatar
United States
80 Posts
 Posted 09/28/2010  6:34 pm  Show Profile   Bookmark this reply Add Sparhawk to your friends list Get a Link to this Reply
Ah...I haven't researched Morgans and I didn't know they were less than an oz of silver...Thanks for the info. When something sounds too good to be true..it probably is...
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cwb1877's Avatar
United States
1659 Posts
 Posted 09/28/2010  6:50 pm  Show Profile   Bookmark this reply Add cwb1877 to your friends list Get a Link to this Reply
Morgans and Peace dollars contain .77344 oz. net weight of pure silver. This is just a tad over 3/4 of an ounce.

To get the melt value of a Morgan/Peace dollar, simply multiply the current spot price by .77344

$21.53 X .77344 = $16.65 (rounded to the nearest cent).
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rastatodd's Avatar
United States
487 Posts
 Posted 09/28/2010  9:17 pm  Show Profile   Bookmark this reply Add rastatodd to your friends list Get a Link to this Reply
To find the silver content of a coin try Numismaster.com. That website tells you contents for both U.S. and world coins. Isn't the shipping quite high at APMEX?
Edited by rastatodd
09/28/2010 9:18 pm
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TenSense's Avatar
United States
364 Posts
 Posted 09/29/2010  12:28 pm  Show Profile   Bookmark this reply Add TenSense to your friends list Get a Link to this Reply
Yes it is; they really nail you on it.
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