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Thread: What Is Fair Price For Silver Coins?

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  1. #1
    us
    Jul 2011
    Downstate New York
    White Spectra V3i
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    173 times
    All Types Of Treasure Hunting

    What Is Fair Price For Silver Coins?

    I'm seeing a teller tomorrow who has 2 rolls of silver dimes to show me. She said a dealer offered her $40 a roll which would be 8X face. With silver currently being in the $27-$28 range, what would be a fair price to offer her? The last time I bought silver coins, I paid 10X face. I was thinking of offering her that. What are your opinions?

    HH Everyone
    Last edited by CW3(RET) USARMY; Jul 19, 2012 at 10:53 PM. Reason: Made correction to dealer offer price

  2. #2
    us
    Nov 2011
    Sulphur, NV
    1,497
    419 times
    All Types Of Treasure Hunting
    Id offer $50/roll if she scoffs top out at $60. Just me though, others would offer more im sure.

  3. #3
    us
    Apr 2011
    1,628
    676 times
    All Types Of Treasure Hunting
    They are selling for $90+ on eBay per roll. If you bought them for $70, you'd still make money on them. Guess it just depends on whether you are selling or keeping. I'd start the offer @ $60 & max out at about $75. If they are Mercs, they are worth maybe $10 more.

  4. #4

    May 2006
    CO, AZ
    dfx, Ryedale!
    1,653
    137 times
    First off, your math is off. << She said a dealer offered her $40 a roll which would be 9X face>> If it is $5 in dimesper roll, and she was offered $40, that's ummm ... 8X face, right? But, back to your question.

    I'd be happy to pay about 17X face right now, which is lower than they are going for on most sites. I can sell them right now on the nucleo site for 19.41 times face, so 17X is a decent discount. IN fact, if you want - you could buy them for whatever you can get them for. 10X face. 12X face. And sell them for 17X face to LOTS of people in a heartbeat. But, I think if you offer that low then you are low. granted, the dealer was low too, but I'm tlking on the BID it is 19.41X face, and she can find that out TOO if she loks. You don't want her to know and then hear you say 10X face. She'll think you are ripping her off. give her a good price, buy at a little discount,and be happy with that. that's my thought. :-)

  5. #5
    us
    Aug 2011
    1,899
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    17x is fair thats what i just paid for a nice pile. I feel silver is low and i will keep it for 10 more years i will be 66 then..

  6. #6
    us
    Dec 2009
    Brookland, AR
    E-trac, White's DFX
    2,090
    693 times
    All Types Of Treasure Hunting
    Quote Originally Posted by CW3(RET) USARMY View Post
    I'm seeing a teller tomorrow who has 2 rolls of silver dimes to show me. She said a dealer offered her $40 a roll which would be 9X face. With silver currently being in the $27-$28 range, what would be a fair price to offer her? The last time I bought silver coins, I paid 10X face. I was thinking of offering her that. What are your opinions?

    HH Everyone
    IMO, a "fair" offer is a price she is happy receiving and you are happy paying...whether its 9X face, 17X face, or 200X face.
    sagittarius98 likes this.

  7. #7
    us
    Mr.

    Jan 2012
    Yourtown
    Garrett
    431
    43 times
    All Types Of Treasure Hunting
    Let the teller tell you how much she wants first you dont offer first. If its low tell her thats a nice offer and do a little better for her because your that kind of an honest person and could not sleep at night if you paid her that. Guess what You are not looking for a one time transaction, you should be thinking about building a friendship with this woman and buying her a giftcard to a local restraunt next week for thinking of you and giving the call. Im betting she calls you on every silver coin she comes across from this point forward.

    I bought 9 dimes from the clerk at our local gas station and paid her 2.00 per dime and she threw in a free war nickle. Silver is low and I have no problem paying melt, who doesnt think its going to go up?
    If it were easy and we scored keepers everytime it would be called Coin Roll Picking not Coin Roll Hunting.

  8. #8
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    8,968
    1073 times
    silver surfing
    Around here, if I offer 20 X face they are offended thinking they are being ripped off. They will then go to the "reputable" coin dealer and sell for 12 X, he has to be honest, as "he's been in business a long time."
    CoinFetcher likes this.

  9. #9
    us
    Dec 2008
    St. Augustine, FL
    3,366
    775 times
    Keep in mind that if you low-ball the teller, you might score these rolls at the time, but you might not be the one she calls with her next pile of silver as she might shop for a higher offer. Paying a fair price keeps both of you happy such that you'll be the first she calls when gets rolls of silver quarters or large dollars.

  10. #10
    us
    R.I.P. Rich Hartford, You'll be missed.

    Feb 2011
    in front of you in the bank
    7,507
    1325 times
    All Types Of Treasure Hunting
    I say 75-80% spot
    HH
    BuffaloBoy

  11. #11

    Jun 2012
    129
    15 times
    All Types Of Treasure Hunting
    I have been paying $20 for every $1 for a little while now. I have been collecting a nice little stash and people keep coming back!

  12. #12
    us
    May 2012
    Kingsport, TN
    372
    47 times
    $20 a face is What it is round here in the mountains of east TN. I always try to offer a fair price to get repeat sellers. Never make the first offer find out What they "want" for it and go from there. Some of the best times is when you offer them more than they want. This ensures they will always keep you in mind.
    BuffaloBoy likes this.

  13. #13

    May 2006
    CO, AZ
    dfx, Ryedale!
    1,653
    137 times
    I only have one problem with the "have her tell you what she wants first" approach. Most of the time, these people are coming to you because YOU know they are worth, and they do NOT know. YOu have been going in to the bank and collecting for a long time, so they are asking you to share your knowledge. To say "you go first" is to tell them you are not going to give them that information, and make them think you are not going to give them what they are worth. WHen someone asks me I always start at my best price (Which, as I said, right now is about 17X face. A little discount, but a great price compared to what others will probably offer her) and I do so in order for them to feel they were right to put their trust in my knowledge of the values. I even mention they are worth a little more but that is my offer price, as I am paying on the bid side, not the ask side, and they rally like that (realizing they are getting 17X what they got it for, and i'm getting a little 10% discount or so)

    Bottom line. I don't like the "you go first" approach when someone comes to me for MY knowledge and honor in a topic they don't know well enough.

  14. #14
    us
    Apr 2012
    Left coast
    New Garret AT PRO - I am pretty poor with this device. Too much for me! Nothing significant found. yet! garrett 150 - starting 4/20/20120 - found 30 cents, all clad.
    1,592
    488 times
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    Low ball em and god sort em out.

  15. #15
    us
    May 2011
    Kentucky
    815
    160 times
    All Types Of Treasure Hunting
    I tell my sellers that I will pay 80% of melt and then I tell them about Coinflation.com. They can find the value of the coin and how much I will pay. I get repeat sellers.
    "Hello from deep within the copper mines of Western Kentucky."

    "Keep your hands off of my stack."

 

 
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