Need help with Mexican silver coins

[cyberdan]

Somebody on t-net knows about mexico silver pesos. I need help.

I was offered, sight unseen, a bag of silver pesos. The lady will be taking them out of her safety deposit box this week and I want to make an offer on them.

Need to know years and silver % and who to resell them to for a quick turn around.

Thanks

 

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[Shake-N-Bake]

Hey there, The silver content on MOST mexican coins are 72%. But be careful because 50 Centavos has 30% silver and 42% silver, And there is other odd balls all around there coinage.

My opinion if your not sure on Mexican coins I would not make an offer. Also from what I have seen it is very hard to get good offers in return for your purchase. Becuase alot of dealers and such are unfamiliar with these coins and the low metal content. Unlike US 40%ers everyone knows what they are. Just a thought for you.
Jason

 

[treasurefiend]

I say find out how many coins she has, then give her $1.25 per coin. She can make a few bucks in the transaction and you would more than likely come out ahead.

 

[markmopar]

this should help some:

http://en.wikipedia.org/wiki/Mexican_peso

 

[jim4silver]

Somebody on t-net knows about mexico silver pesos. I need help.

I was offered, sight unseen, a bag of silver pesos. The lady will be taking them out of her safety deposit box this week and I want to make an offer on them.

Need to know years and silver % and who to resell them to for a quick turn around.

Thanks

Unless they are the higher level silver coins .900, I would stay away from them. I bought a few hundred worth a while back when silver premiums were at their highest and I was able to buy the coins for spot. Thought I was getting a great deal. All the coins I bought were the lower silver ones, such as .720 and a some .500. They are pretty coins and may someday have some numismatic value, but for bullion purposes they suck. I am going to hold them and try to sell them in 10 years or so, maybe they will be more popular.

One of my coin dealers who I trust told me that if I try to resell them to a dealer, I will not get anywhere near spot because refiners dont like to mess with any silver coins/products that are less than 80% pure, and thus the refiners do not pay much for such material.

I would offer the lady 50% of spot per ounce of silver. If she doesnt want it, let her take it to a coin store and see what they will offer her. You can go along with her and offer to beat their offer if you really want the coins that bad. Check a coin book to find the exact pure silver content of each coin you examine. They are kind of tricky. Some of the Mexican coins are only .300 and .100 pure, so you gotta know each coin. Most should say on them purity, such as "plata pura 20 G .720 ley", which is what some of the 100 pesos that I have state (twenty grams of pure silver, entire coin purity level 72%, thus coin weighs more than the 20 grams).

Some online dealers and people on ebay list them higher prices. Dont know if they sell or not.

For example, http://store.nwtmint.com/product_details/2408/100_Peso_Mexican_Silver_Coin

http://cgi.ebay.com/100-PESOS-SILVE...1oz-TOTAL_W0QQitemZ260314815405QQcmdZViewItem

And yes our Kennedy half dollars of 40% sell for premiums over spot, but that is only because investor demand is so high right now for them. People are buying $1000 junk bags of the 40s like crazy. If dealers actually had to send them to refiners to get rid of them, you would not be getting anywhere near spot from the coin dealers.

Jim

 

[Darth Walker]

Are they, "Onzas Libertad", " Or " Onzas Troy", " Or Old Silver Pesos with the observe with an Scale and the reverse with a capp.
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Darth Walker