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 Replies: 20 / Views: 3,642 |
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New Member
Canada
2 Posts |
heh I bet you get this question all the time, alright the down low... I've inherited about 40 pounds of canadian silver coins. all of the coins have been circulated (at least I assume so there are rolls but they do not look to be bank rolled) the coins are dimes nickels quarters a huge pile of half dollars and some silver dollars. I can break them down into weights if need be... Now I've been told the best thing to do is to sell them for silver value... assuming this is true and feel free to correct me if it is not. I have a friend who has been trying to explain to me how to sell it and is confusing me with numbers and troy ounces and stuff like that.. So can some one break this down to me?... 40 pounds silver is 40$ an ounce roughly.... now what should I expect to get for this should I get silver value how does this troy ounce work... roughly I dont need an exact price.. |
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Bedrock of the Community
United States
10284 Posts |
You should at least learn something about coins before you dump these off for silver melt or the intrinsic value. There could be some really nice coins in there that have an additional collector value or numismatic value. I have seen this sort of question quite a few times. Sadly nobody hardly wants to listen and learn a bit about coins.
Many of us here who are experienced collectors would love to be in your shoes, not for the silver but for the fun of going through it all just as well.
Welcome to the forum, you have an opportunity to become a very lucky coin collector even if you do eventually sell off some or even most of your inheritance.
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Pillar of the Community
United States
745 Posts |
You will do very good if you get these prices:
Dime $2 each
Quarter $6 each
Half Dollar $12 each
Dollar $24 each
if silver goes below 40$ an ounce then expect less
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Pillar of the Community
Canada
650 Posts |
I think a rough formula for silver value is 7.1 times the face value, not far off of penny4me's answer.
The other considerations,once you look for any good dates, would be to figure the actual bullion value.If your selling you will get less than the actual value as the buyer if a dealer needs a magin to resell. If there speculating maybe more, but probably 90% at best. And there is the cost of shipping if your not selling local.
If there 68 and before they have silver value 50% minimum... 66 and before 80%. If when your selling it,s best to at least give the ratio or face value of; non silver, 67/68 silver and pre66 silver.
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Bedrock of the Community
United States
10038 Posts |
You would be very wise to do a little checking as to key dates. It would be a shame to sell any scarce or rare coin without knowing what you were missing. The right coin in the group could also make you a much happier person!
How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Valued Member
Canada
89 Posts |
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Pillar of the Community
United States
6394 Posts |
You will do yourself a great disservice if you fail to check your hoard for dates. Many early Canada silver coins have collector value much greater than their bullion value. It's possible that this large pile of coins is 100% "junk" silver with no extra value, but do you want to take that chance?
As a starting point, you could at least sort the coins by portrait: Elizabeth in one pile, George VI in another, George V in pile #3, Edward VII in #4, and Victoria in #5. Then work your way from oldest to newest and check dates using that Charlton book as Dollar recommended to identify any potential "keepers".
Just a suggestion....
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Bedrock of the Community
United States
10045 Posts |
 Even silver coins in the 40s and 50s can be worth much more than silver value. You're in the right place to get help with your coins.  |
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Pillar of the Community
Canada
2301 Posts |
Some good advice has been given here. Buy a book and do a little study.
Other advice (if taken) will cost you A LOT OF MONEY. 7 Times face value is ONE THIRD of what it should be.
Please buy a charleton's. Do a little research yourself. Then feel comfortable with the decision you make. Not all info offered on chat boards is correct.
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Moderator
 United States
56855 Posts |
to CCF.You might want to check this link http://coinsandcanada.com/coins-prices.php for any rare dates or errors or varieties that you might have before selling your collection as junk silver.You could also keep what you have and become a collector  John1  |
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Valued Member
Canada
74 Posts |
This information comes from a guy who I really respect when it comes to all things Canadian coins.
"1920-67 silver .800 coinage has .6 oz of silver per dollar face. If you multiply .6 times the current scrap price, you will get the full value of the silver. Most buyers will give you 88-90% of scrap at any coin show, so $40 silver gives you $24 full value X90% =$21.60."
He also points out, and I agree with the many people here who have pointed it out, that's a minimum target you should shoot for.
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Rest in Peace
United States
9104 Posts |
nixsyn Unconfuse yourself. Quit weighing and count. |
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Rest in Peace
United States
9104 Posts |
Quote:
I think a rough formula for silver value is 7.1 times the face value, not far off of penny4me's answer.
.715 ounces per dollar is US, Canadian are lower purity and weight. $ Canadian is .6 oz, exactly. |
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New Member
Canada
17 Posts |
Receiving an inheritance like that seems like a dream. I think I would be up for many nights and take a couple days off work looking through all the coins. Want to provide some pics of your coins. What does 40 pounds of silver look like?
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Rest in Peace
United States
9104 Posts |
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Bedrock of the Community
United States
10045 Posts |
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Replies: 20 / Views: 3,642 |
Posted 09/01/2011 10:21 pm
