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 Replies: 8 / Views: 1,138 |
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Valued Member
United States
362 Posts |
Hi, we came into possession of roughly, at spot value, a little over $5000 in coin this weekend. It consistes or all circulated Rosies, Mercs,barber dimes, Standing LIberty and Franklin Halfs 2 rolls of War Nickels and a few rolls of 1930's washingtons and Barber and Standing Liberty quarters. I have never dealt with this much silver and I would like to know what I need to know going in to sell so I do not get taken. When I sold some rounds and bars last year the dear said he paid spot minus $2, not sure if it is different when dealing with silver coins. Any help is greatly appreciated. Read more: http://www.cointalk.com/showthread....xzz1IYtTcuhr
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Valued Member
United States
244 Posts |
If your dealer is paying $2 back of spot, he's not giving you a good deal at all (and especially so since he's probably selling for $3 above). Look for another bullion dealer. If you're in/near a big city, you should be able to find one buying for no worse than $1 back. Otherwise, you might consider selling to a place like APMEX. They don't post their buy prices, but you should be able to get them by calling. |
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Valued Member
United States
244 Posts |
And yes, most bullion dealers will handle "junk silver" as well as the pure stuff. Generally speaking their cut will be similar.
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Bedrock of the Community
United States
12437 Posts |
Quote:
When I sold some rounds and bars last year the dear said he paid spot minus $2, not sure if it is different when dealing with silver coins. Were the bars/rounds from a well-known producer like Englehard or Sunshine or were they generics? Generic stuff typically has a lower buy price. 90% silver coins should have a buy offer of multiples of face value, which should be around 25x face for non-culls(silver dollars will be slightly higher). |
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Valued Member
 United States
362 Posts |
Well I called around, best deal was $24 + face. Does that sound about right?
And on the rounds and bars all were englehards.
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Valued Member
United States
134 Posts |
For 90% silver my dealer is paying 26.3 x face value. Not sure on .999 rounds bars but befor paid spot believe and little over spot on ASE |
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Valued Member
United States
100 Posts |
Last week my dealer was selling at 27.75 x face. Just to give you some perspective.
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Valued Member
United States
312 Posts |
Any important dates or particularly good condition ones? If you have the time you can pull some of those out ;-)
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Valued Member
United States
244 Posts |
$24 per dollar face? What a rip. Dealer I normally use was paying over $26 the other day, and it doesn't look like spot has moved that much since. Try APMEX if you don't have a dealer nearby who is worth dealing with. |
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Replies: 8 / Views: 1,138 |
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Posted 04/04/2011 11:30 am
