Cashing In 40%

[FreedomUIC]

Went to the coin shop yesterday to turn in two rolls of 40% halves. Melt value at spot yesterday was 18.37 or roughly 105.27 for the two rolls. He told me he usually offers 1.50 for the 40% but bought them off me for 85.00 dollars total. Figured everyone has to make something so wasn't over concerned, but his comment of 1.50 bothered me. Bear in mind that I give him ALL of my business first. If he has it I buy it from him(I collect Morgans - Slabbed and graded).

The question I have is that the price I got paid seemed a little low and wondered where everyone else turns their silver
into for melt? I have seen names of places but I have no idea how to get in touch with them and would appreciate an
address along with a phone if at all possible. If there is a forum member that buys, that is all the better.

 

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[fistfulladirt]

I sold 20 rolls of 40's at a coin show back in January. Melt was about the same then, I received $2.45 ea. My local dealer was going to give me $1 ea. He pays 8 x face for 90%, and turns them for 13 X. He can't keep junk silver in stock. I don't believe much coin is making it to the smelter, it's just changing hands.
Some of the big house buyers aren't interested in 40%. Like you mentioned, a forum member may offer you a good deal. ffd

 

[jim4silver]

If you are willing to send them off, you would probably do well with a company like Apmex, etc. I would not feel comfortable sending my PMs off to sell and would prefer a local coin store, but if you don't have that option you can check the online companies' websites to see what they are paying.

I don't believe much coin is making it to the smelter, it's just changing hands.
ffd

This is true. It's being rebagged and resold. Smelters don't pay as much for 40% due to its low silver content. If a coin store resells to a collector/investor they can get much closer to spot or even over spot possibly.

Jim

 

[obediah]

You could easily get after the fees over 2.10 on feebay that is a certainty; when you seel to dealers who mark down to sell them again at a mark up you loose bug time!

 

[CHAINCHOMP]

i guess that was not too bad of a price, nut if i were u i would save all 40%'ers, cuz they will only grow in value...about 5 years ago silver was at $9.00/troy oz., from then 2 now its grown a little under $10 per troy oz., so like i said, it will only grow in value.

 

[quiksilver]

If your not happy with your local dealer save up your silver for a coin show and spend an hour asking each dealer there what he is willing to pay.

 

[rileyboy]

Quicksilver has the right idea. Take them to a coin show and check around. There are always people buying them and you don't have to worry about postage etc. In your instance, you only sold two rolls and got about $2.13 per coin. A little low, but not too bad for only 40 coins. Most dealers will go up a little if you have a lot of rolls. I agree with some of the others regarding silver going up in the future, so I'd hang onto you stash for a while. Just my opinion
rileyboy