Myers Depot Metal Detectors

Need a good price point for buying junk silver coins

73cj5

73cj5

Elite Member
Joined
Apr 10, 2012
Messages
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Location
NE PA
I have a guy that is selling junk silver locally.

Has about $35.00 face value all pre 64 dimes and quarters.

Is 10x face a good buy price or should I try and get it cheaper?

Probably will resell some and keep some of the nicer pieces if there are any.

Just wondering what the threshold to buy is at when it becomes a do not pass up deal?

Lets use $16.60 as a spot price.

What is a do not pass number for resale and what is a good number to buy at for collecting. (Do not figure key dates).

Thanks,

Aaron
 
You can figure it out yourself by going to http://www.coinflation.com/coins/silver_coin_calculator.html

enter the type of coin, like washington quarter, and see what the contained silver value is. Also, note the writers comments at the bottom about the range of value and what silver coins actually sell for on ebay. If you can get them for slightly below the Ag contained value, then buy them....If the seller actually scraps them, they will get 5% less than silver value from the smelter, so that is a good starting point.

You can figure out how many times the face value once you know the coin value ...present price of silver is 6 cents higher than your suggested price point.
 
King,

Thank you for the link.

I am going to try and pick them up for 9.00 per $1.00 face and see how it goes:)
 
To me its kinda like you said "junk silver". When it comes to coin for collecting you gotta know what your getting otherwise its a total !!!! shoot.
 
That being said, a silver dime at melt value is about $1.17, and the fella has 350 of them, melt value totals out at $409.50. So 10x face value ($350) wouldn't be bad, I wouldn't think.
 
I had to go back and read the original post, didnt see that you said quarters too. I guess, too make it all really easy, just weigh it all, and 90% of that total weight is silver, check the going rate for silver and make your offer.
 
I like this calculator better. You can put ALL the coins in it at once.

http://coinapps.com/silver/coin/calculator/

HOWEVER be warned that the price is for coins that are NOT worn down. I found two half dollars recently. One looks new and the other is worn. There is a half a gram difference between the two. Not a whole lot BUT it adds up fast.

The ONLY way to get an accurate value is to weigh them all and plug the weight into this website.

http://dendritics.com/metal-calc/

MAKE sure you change the metal to silver and the purity to 900.
 
I would take the coinflation value of the coin type ie dime, multiply by how many you want and then offer 75%. That should account for wear and you can negotiate from there. Right now silver is low and dropping so if you are planning on keeping these long term and selling on the next bubble don't be afraid to pay spot.
 
It is still illegal to melt them right? If so, does this fact have any effect on the price?
 
I just offered for sale

50 silver dimes for 60 dollars. I know at least 10 of them are Barbers. At 2.5 grams the worn barbers are at least 3/16th of an inch shorter in stacks of 10.
lightweights in my book so whoever buys them at the yard sale had better be on the ball. The barbers are all culls. Some of the mercs and rosies are AUs but still easier to sell in a bag then one at a time. It's mostly about the weight...:D
 
It's funny, as late as the 1940's in the mid east and probably other places, silver coins from many different countries were in circulation and their local exchange/purchase value was determined by weighing them (and some allowance for assumed silver content).

Now our silver coins are back to that - value determined by weight and bullion price.
 
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