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Replies: 11 / Views: 1,211 |
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New Member
United States
24 Posts |
I'm thinking of consolidating some of my higher-quantity coins. I live in Chicago and will be going to the ANA World's Fair of Money for the first time this week as an excited collector. If possible, I'd try to sell: 100 Silver quarters 100 Mercury dimes100 Silver Roosevelt dimesDoes anyone know if there are dealers/people there that would want to buy these coins, or should I try ebay or elsewhere? They're all circulated quality but dates are readable so I'd hate to see them go only for melt, but what should I expect, regarding price, when selling at larger quantities? Any help is much appreciated! Moved by Forum Mom from Classic US coins to Main Coin Forum
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Pillar of the Community
United States
1080 Posts |
they are probably only worth melt. I buy BU roosies from my dealer at slightly under melt, everything except key / semi-key Mercs and Washington quarters are the same way. Check ebay completed listings, but I think the prices there are the same. Sorry, but melt is really higher than the current numismatic value.
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Bedrock of the Community
United States
11951 Posts |
I agree with specksynder.
My local coin shop was buying 90% common silver coins at 25X face today. So your 300 coins would bring you $1125.00 at that shop.
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Valued Member
United States
361 Posts |
 As Collectors we hate to see these go for melt but with the price of silver where it is now, and could be heading, that is what they are worth and probably will end up in 90% bags or melted down. If you sell them on ebay in groups you might get slightly more but then you will pay listing fees, final value (selling) fees and paypal fees.
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Pillar of the Community
United States
3755 Posts |
High grade will be worth more than melt usually, but unfortunately people dont believe in premiums moving in sync with silver prices. So you are likely not to get much more than melt.
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New Member
 United States
24 Posts |
Thank you very much for the advice/input! It is much appreciated. I will let you know how it turns out :)
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Bedrock of the Community
United States
20753 Posts |
The ANA show just starting is absolutly not the place to try to sell those. And you would have to pay $6 to get in, aabout $11 to park and then find out most dealers there really want to sell, not buy unless dirt cheap. Dealers at that show pay from $500 to over $2,000 per table so they really have to sell to make up for that. Also, they usually stay at a hotel, buy food, etc. while there so that too must come from selling, not buying. Most dealers there are out for big profits due to all their expenditures so buying low grade coins is just not in their interest. Usually. This is why almost all coins at that show are overpriced. For selling your bulk coins, try some of the local coin shows just outside Chicago in the suburbs. One last Sunday in Countryside would have been the place for your coins. On the 21st, there is a coin show in Itasca, straight up Irving Park Road where many local coin store owners are present so your coins could sell there. You mentioned you live in Chicago. Aren't you aware of the constant 3 coin shows a Month in the suburbs. Also, a massive amount of coin stores.
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Valued Member
United States
257 Posts |
LMK if you're selling. I'm always adding to my stash.
I tried to message you but you didn't have that enabled.
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Pillar of the Community
United States
968 Posts |
I have this feeling that if silver prices remain high for long enough that it is possible that so many common date coins could get melted down that some of the dates may become rare enough to start gaining numismatic value.
As for even getting melt value, that can be tough too. Refineries aren't going to pay full melt value for the coins (probably 90%), meaning that anyone that wants to buy the coins for melt is going to pay enough below melt that they will make a profit even after the refinery takes their cut. The only way I see getting full melt value is if someone wants to speculate either on the price of silver continuing to go up, or take a chance that some key or semi-key dates might be in that bag. Dealers are unlikely to do either.
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Pillar of the Community
United States
1704 Posts |
Saruma, 90% silver coins are not melted. They are put into bags at $1,000. face value and sold that way for the actual intrinsic value of the silver. Ed ANA LM-3175
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Bedrock of the Community
United States
20753 Posts |
Quote: Saruma, 90% silver coins are not melted. They are put into bags at $1,000. face value and sold that way for the actual intrinsic value of the silver.
Obviously you do not know how many Silver and/or Copper coins are melted every day. Silver coins are constantly melted by jewlers to make Silver Jewlery. They really normally have no idea of a coins value except what they can make with it and sell for jewlery. I've seen Jewlers melting coins right out in the open. Not hidden at all.
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Pillar of the Community
United States
1231 Posts |
I have to agree with Carl. Actual refineries do melt silver and gold coin. Refineries usally pay 90% of melt for silver coins. I know this because I have been checking into a few of them. I have a bunch of silver I want to unload. And I want to do it all in one big shot.
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Replies: 11 / Views: 1,211 |
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