Biggest line ever!!!!! - from my local pawn shop dealer.

[cdickrun64]

Ok, with the recent run-up in silver prices, today i decided to sell a little silver. Dealer paid me 13x face for my 90%, and offered me 35 cents each for my war nickels.....lol. Of course i know that they are worth well over $1.00 EACH, so i declined his offer. He starts explaining that "they have a dangerous metal in them that makes them very expensive to melt down....nobody wants them." He goes on to contradict himself by stating that "they don't melt silver coins....it's still illegal". Maybe he is just "mis-informed", but WOW.....what a couple of whoppers!! I thanked him for the $70 and left.

 

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[jim4silver]

Re: Biggest line ever!!!!! - from my l

From what I have read, it is NOT illegal to melt silver coins. It was in the late 60's, but not anymore according to numerous articles on the net (for whatever that is worth).

US junk silver does not get melted now because dealers can make more money selling it in junk bags to investors. Refiners don't pay as much for coins with a higher percentage of non silver metals. That is why dealers don't pay much for sterling silver items if you take them in to sell (like silverware, etc), because when they sell it to the refiner they will not get near spot per ounce (and sterling is over 90% pure).

War nickels are harder to sell to dealers if you want top dollar, and while they are cool coins I would never buy them for investment purposes. Just like 40percent halves, great to find in the wild but I would never buy for investment purposes.

Jim

 

[sensesfailed069]

Re: Biggest line ever!!!!! - from my l

I dont think you would find many places willing to give you over $1 for war nickels. You are probably looking closer to 65-85 cents

 

[fistfulladirt]

ebay for the war nickels, the dangerous metal is nickel. I think you did good at the dealer an 13X, I pay that. Pawn shops - hilarious! ffd