| Author |
 Replies: 34 / Views: 4,915 |
|
Pillar of the Community
United States
2150 Posts |
Quote:Due to the recent run up in silver and gold prices, many coins that you have in your collection, even those bought earlier this year, are now worth much more $$! We are currently paying the following prices for your silver and gold coins: Silver Dimes (1964 and before) $1.40 each Silver War Nickels (1942 - 1945) $1.00 each Silver Quarters (1964 and before) $3.50 each Silver Halves (1964 and before) $7.00 each Silver Clad Halves (1965 - 1969) $3.00 each Silver Dollars (1878 - 1935) $16 each Silver Eagles (1986 - 2010) $22 each Gold Eagles, Kruggerrands, and Canadian Maples 1 oz $1300 each 1/2 oz $675 each 1/4 oz $350 each 1/10 oz $140 each If you are interested, send coins by US Mail (insurance and/or signature confirmation is reccommended) to: Mike's Coins PO Box 5314 Trenton, NJ 08638 After reading the tons and tons of negative comments on these guys, I would be hard pressed to send any thing of value to them.
|
|
|
|
Pillar of the Community
United States
1213 Posts |
I have never heard of Mike's but now that I have, I know not to consider them.
|
|
Pillar of the Community
United States
1080 Posts |
wow. thanks for sharing. That's disappointing.
|
|
Pillar of the Community
United States
564 Posts |
wouldn't we all like to buy at that price! that's a big margin for profit. I wonder how much overhead he must have to have to pay that price. you cant fault the guy for that price... that what he needs to pay to make a profit. I don't think me ripping people off rather you need to shop around before you sell something.
|
|
Pillar of the Community
 Canada
9862 Posts |
Gold is at $1370 and he's buying 1/4 oz. and 1/10 oz. at $1400.I guess what he makes on silver he loses on gold.
|
|
Moderator
 United States
16677 Posts |
$16 per Morgan heh?
swcoin.ecrater.com
|
|
Valued Member
United States
451 Posts |
I guess people still fall for it, that's why they send such emails :(
|
|
Valued Member
United States
365 Posts |
I think fault lies on both sides of the equation: just because there are enough suckers out there to fall for it, doesn't make it right in my book.
SC-'high and mighty'-S.
|
|
Valued Member
United States
451 Posts |
It's absolutely not a fair price and definitely not right, I was just trying to guess why they would send such an illogical mail.
|
|
Bedrock of the Community
United States
20753 Posts |
Not sure exactly why they send that to you. Never heard of them nor from anyone else that received such an email.
However, can't blame them either since if you think about all the adds on TV, in the mail, the radio, etc for sending in your old Gold. Every coin store or pawn shop around me too has signs saying that too.
This is becoming so popular I'm suprized that the bums on the streets that used to ask for a dime or quarter for food don't start asking for you old Gold too.
|
|
Pillar of the Community
United States
1256 Posts |
Went to a coin show on Saturday. First booth in the door, big sign "We'll buy your silver and gold". Don't blame them but it kind of turned me off.
|
|
Pillar of the Community
United States
958 Posts |
its a fair price
Imagine if the guy had $10,000 in silver and sends it to bulk buyer that pays 10% under spot
and silver fell from 25 to 20 before it arrived to the bulk buyer
Mike would lose is butt.
From what I read this happened back in 1980 silver literally crashed over night and the silver buyers toward the endd lost there butt
he is paying 75-78% of the coins melt value
You guys think he is makinga fortune,
You relize he would have to buy 100 morgans at 16 to resell at 20 at full spot
just to make 400$ and thats if the price does not drop
|
|
Bedrock of the Community
United States
12437 Posts |
Quote:
Gold is at $1370 and he's buying 1/4 oz. and 1/10 oz. at $1400.I guess what he makes on silver he loses on gold.
Because the spot price on 1oz bullion is so high, many people are buying the fractionals. However, that is having the effect of reducing the supply of fractionals and driving the price up at the same time. Fractionals are going for 20-25% over spot right now in most cases. Quote:
its a fair price
Imagine if the guy had $10,000 in silver and sends it to bulk buyer that pays 10% under spot
and silver fell from 25 to 20 before it arrived to the bulk buyer
Not even close to a fair price, 14x face is chump change right now considering I could sell silver all day long for 19x and no shipping costs(20x face for dollars). Your scenario would never happen because no one is going to pay for bullion silver or gold before it is received and tested. The only person losing money in that scenario is the one who mailed stuff to someone instead of dealing with it locally. Several of the "cash for gold" mailing companies have been sued for a related scam- they receive items from someone but the bullion does not get "processed" until a day where precious metal spot prices drop, thus the buying company gets to pay less. |
|
Pillar of the Community
United States
2335 Posts |
Without getting into the reputation issue I'll say this......he's offering more than the local store fronts in my area.
|
|
Pillar of the Community
United States
2120 Posts |
TBH, 1$ per junk War Nickel is a really good buy price. Most of the dealers I talk to would give .40 cents a piece. Maybe .50 now that silver is higher. |
|
Pillar of the Community
 United States
2150 Posts |
Edited by jokingjoker
11/15/2010 7:57 pm
|
| |
Replies: 34 / Views: 4,915 |
Posted 11/14/2010 10:09 pm
