$2,2830 and some change. A low-ball appraisal?

ronfin · Dec 14, 2012

First, do others have their finds appraised? I haven't sent any off to a certified grading company, but was off from work today, and decided to take one of my Coin Shop guys up on his offer. A few months ago I started delivering to a shop on Torresdale ave here in Philly that buys and sells coins. We started BS'ing about MD'ing, and I told him about some of the coins I had found. He said "Bring'em by one day and I'll appraise them for ya no charge..." How could I not? For free? Cheap is good, but free's for me! I stopped in this afternoon and let him look at all the silver coins, coppers, token, and various other coins I found this year using both the ETRAC and CTX combined. I can't give credit to either machine because it wouldn't be fair. I hunted with the ETRAC longer, so there are more coins from that MD etc. Regardless, it took him almost 3 hours, but some of that was due to people stopping in and the gaps in time etc. His overall estimate was $2,283.57 based on silver melt values today, and what he'd pay for them. Example 1, I have 4 Large Cents. One in excellent shape, one GOOD, and two totally scrambled. He would only offer $15 each for the good two. Example 2, I have 59 Mercury dimes, and he would only pay $3 each. Has anyone ever done this at the end of the year to get an idea of what everything's worth? I'm pretty sure a lot of these individually are worth more, so is it even worth the headache of trying to get a better estimate? I know the 1916-S Merc I have is worth more than $3. It's a semi-key date, and it's not that toasty. I know this amount is no where near what the beach hunters find a year considering they score some very nice rings, but what about you Coin Shooters? Do ya get appraisals, or just put them away? Sure does make this hobby a lot more fun when you can put a dollar value to the "fun". :grin:

Terry Soloman · Dec 14, 2012

That sounds very typical pricing for a guy who will be reselling or melting the silver. You can get more on Ebay, but it will take you a few months and a lot of hassle.

When I sell off dug gold privately in bulk at the end of the year, or when gold goes up, I expect to get about 85-percent of spot as melt for cash and no paper trail. I I have some better rings or pendents I somestimes have them repolished and I sell them on Ebay.

Briman05 · Dec 14, 2012

I think the spot value for merc dimes is around 3 bucks the 1916 dime is worth more I have seen some low ball offers I would try to sell it on eBay or craigslist

Milhaus · Dec 14, 2012

I think if he was planning to lowball you he wouldn't have taken so much time. He would have tallied up the silver, thrown in the some softball numbers on the copper value and called it a day.

ronfin · Dec 15, 2012

Thanks for the input guys. Just trying to get a better accurate value so I can convince the nay-sayers around me that my hobby isn't "dumb" as a few have said. Never saw a money making fun thing be dumb lol.

silverchef · Dec 15, 2012

It sounds to me like he was actually quite fair. Spot values as of today>

Dimes $2.33
quarters $5.83
halves $11.67
dollars $24.96
war nickel $1.81 Based on $32.28 silver spot from coinflation.com.

Alot of times dealers wont even really look hard and just go by face dollar of coins and multiply % of silver per dollar which is roughly .7 oz silver per dollar(ie $14 face = roughly $322). Like someone else said he took awhile to look at them and probably figured what he could sell for? You must have some nice keepers in there! And sounds like alot of coins. Might get a better deal here! I'm always interested in improving my stack. Good luck!

dogpound · Dec 15, 2012

only coin i took to a dealer for an estimate was a very good condition 1876 seated quarter i found last fall, dealer said 60 bucks. i'm a hoarder so back in my collection it went

demyansk1942 · Dec 15, 2012

This is a good topic,

Question,
What do you do when you find a gold ring and want to find its worth? Do they charge you at a jeweler? I never go to these businesses.

Mtnmn · Dec 15, 2012

I would go to a coin dealer before going to a jeweler as jewelers will almost always try to low ball you. Coin dealers will often buy more than just coins as long as the jewelry or ring is marked. Though if I was a dealer I'd personally check each piece of gold with a quality tester as every once in awhile something is less karats than marked. If wanting to sell anything, it is best to shop around for the best price rather than just trying one place. Their offers can vary considerably...

ronfin · Dec 15, 2012

demyansk1942 said:
This is a good topic,

Question,
What do you do when you find a gold ring and want to find its worth? Do they charge you at a jeweler? I never go to these businesses.

I've taken a few of my junky silver rings to a jeweler to sell, and didn't get what I thought they were worth. Obviously they have to make money on the transaction too, so you wont always get what the true value is.

dogpound · Dec 15, 2012

demyansk1942 said:
This is a good topic,

Question,
What do you do when you find a gold ring and want to find its worth? Do they charge you at a jeweler? I never go to these businesses.

buy a scale and use this site....... http://www.dendritics.com/scales/metal-calc.asp if there are stones and your selling for melt then just remove them before weighing. i think if i took anything to a jeweler i'd go to atleast 3 different one's for an appraisal

$2,2830 and some change. A low-ball appraisal?

ronfin

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Terry Soloman

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Briman05

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Milhaus

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ronfin

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silverchef

dogpound

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demyansk1942

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Mtnmn

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ronfin

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dogpound

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