Comments on: Silver Coin Values Shocking As Silver Prices Hit Highs

By: Bobbie Jo Begunich

Bobbie Jo Begunich — Sun, 01 Jan 2017 20:20:41 +0000

I found out my silver dollar was worth Up to 25,000 action and 6 dealers tried to buy it for 50$ I new better!I still waiting for a man to call me just to be on safe side..yes alot if dealers u can not trust,I need one I can

By: Bobbie Jo Begunich

Bobbie Jo Begunich — Sun, 01 Jan 2017 20:18:19 +0000

I got so many coins that my grandpa left me and idkn any1 that would buy them do to so many ppl ripping others off..

By: Evie

Evie — Fri, 17 May 2013 03:51:12 +0000

I currently have 3 mercury dimes 1917, 1 that us in optimal mint condition. I also have 4 liberty 1917, 2 in mint condition and 3 JFK half dollars 1964 all in mint condition. An ex coworker offered me $80. for the whole lot, but I at the time thought to keep them for my daughter to start her own collection. Now times have been super hard for us, since due to a disability I can no longer work, and my daughters birthday is next month. I called my ex coworker to sell them to her, but after reading all the information above I clearly see that I do not have the knowledge to sell these coins at a reasonable price. What would you recommend as a reasonable price bubba H? It does appear to me that you are very knowledgeable in this matter. Any assistance from you would be greatly appreciated. Thank you

By: Vachon

Vachon — Mon, 25 Apr 2011 15:22:00 +0000

Thank you for your advice.

By: bubba H

bubba H — Sat, 23 Apr 2011 16:15:00 +0000

There are businesses who feel that it is their duty to seperate you from your money.

By: bubba H

bubba H — Sat, 23 Apr 2011 16:13:17 +0000

Locally there is a business that pays $31980 for $1000 of 90% silver.
They sell that same bag for $33450. Look up Affordable Jewelry and Precious Metals in Portland, OR. They advertise buy and sell prices. Call them if you want to sell. They are fair. The thing about is that any business you sell to can make that phone call and sell to them. So, if they won’t give you close to that amount, you are losing money. You would have to pay shipping. Their prices fluctuate with the silver price. They operate on margin between buying and selling.

By: Vachon

Vachon — Sat, 23 Apr 2011 12:22:19 +0000

I ask my question because I only have one dealer in my area and one other place that only opened to take advantage of the rising price of gold and silver. I don’t have the option of travelling around looking for a better deal. I’m just more curious for an average. I’m only talking junk silver and gold coins here, not genuinely collectible stuff. I just wonder what the Blue Book analogue is here. I remember making a sale of this nature in March 2008 when silver briefly spiked to about $21. The spike part being important. I know it rose quickly and descended quickly which affects these kinds of transactions unlike the current rise which has been slow and steady.

Officially, that would be 14.3x face at $20. I was offered 10x face for 90% coins, 4x face for 40% halves, and 5x face for the war nickels which is 70%, 67½%, and 22% respectively. In your opinion, is that about right or would that constitute a learning experience on my part?

I generally don’t like it when the Red Book price is the only one flashed in your face and since the point of this article was more about what the silver content of our old coins is worth, I thought the article would have done a better service showing likely realizable values in addition to their value on paper.

By: Bubba H

Bubba H — Fri, 22 Apr 2011 18:12:43 +0000

If you know the melt values, you have a basis for value. Just because one dealer won’t pay as much doesn’t mean they ripped you off. Every dealer has different expenses. If you go to 10 different dealers and get quoted 10 different prices, you will have pretty good idea of what you can expect. You can try selling them on your own and pay the fees and see if expense and amount of work is worth the additional money if there is any. Metal prices can
go down. You aren’t getting ripped off if you willingly sell something at whatever price. If you don’t know the value of something don’t sell it.
The true value of something is the amount you can get for it when you want to sell it. It can be more or less than some established value. Go out on Ebay and look up prices, but that will take time. Prices will vary. Pay someone to appraise your coins who doesn’t have a vested interest in them.
Then try to sell them and find out no one can pay you that much. You should be able to get at least melt for coins that are somewhat desirable. Not everyone buys into the collectible idea. To some, it is all only precious metals. Go out to Kitco and see what they pay for precious metal, but keep in mind that they only buy from businesses. If you get ripped off when you sell something it is your own fault. You can always say no if someone makes an offer. A good dealer will only pay what they have to for something. If you get a good deal on something for sale did you rip someone off? If you know something is worth $1000 and they offer it to you for $50, it is probably
not very cool to offer less. If you offered them more, they would probably
not sell to you thinking it is worth a lot more. If you are a paid appraiser and you knowingly appraise things low to try to buy them cheaper that is definitely wrong. If you are looking for a free appraisal, seller beware. I have sold coins that the dealer doubled the price and offered them for sale. Sellers can ask what they want and they can wait as long as they want to sell something. I could have raised my price double and waited, but I valued having the money now greater. There aren’t any laws saying what things are worth. It is all in the eye of the beholder.

By: Vachon

Vachon — Fri, 22 Apr 2011 12:09:49 +0000

Yes, but what do dealers typically pay for these coins, especially the billon war nickels and halves? Most of us aren’t wheeling and dealing in selling our collections of silver on a daily or weekly basis. The dealers have to make a profit too so what is generally their take? I would hate to sell only to find that I would be considered to have been ripped off.