Question about silver half dollars

[Jinker]

I sold some silver half dollars to a coin shop today. All of the coins were silver and were either Franklin's or Kennedy's. I sold 20 of them at 10 times face value for a total of $100. I looked up the price of silver later and saw silver is $18.86 an ounce. My question is did I get a good deal or did I get ripped off?

Thanks for any insight you might have. My grandfather died and left me a lot of silver coins, I don't know anything about them so I just want to make sure I'm not getting ripped off.

 

Amazon Forum Fav 👍

Upgraded Night Vision Monocular Digital Infrared Monocular Telescope for 100% Darkness with 8X Zoom - Grab it through Amazon!

[mainer]

With silver at 18.89 an ounce a silver half has $6.83 worth of silver in it.

 

[Jinker]

That sounds fair to me.

Thanks.

 

[Coinkid]

I think you should have gotten at least 12x face value for them.




-Paul

 

[fistfulladirt]

Ten times face from a dealer is good. He's just going to flip 'em at 13-15 times face. He's in business to make a profit. You didn't get ripped off, but, you could have done better.

ffd

 

[diggummup]

10x face, I think thats a fair price. I wouldn't buy it, but I would sell it at that. They're worth $6.37 a piece at todays current market price for silver.

 

[fistfulladirt]

10x face, I think thats a fair price. I wouldn't buy it, but I would sell it at that. They're worth $6.37 a piece at todays current market price for silver.

I would buy every day at that price. Matter-of-fact, even at today's market price, try finding junk silver for less than 13 x face. Good luck!

 

[diggummup]

10x face, I think thats a fair price. I wouldn't buy it, but I would sell it at that. They're worth $6.37 a piece at todays current market price for silver.

I would buy every day at that price. Matter-of-fact, even at today's market price, try finding junk silver for less than 13 x face. Good luck!

It's all in where you look. There are many sources of "junk" silver besides coinage. I'd have to say I find something at least once a week.

 

[fistfulladirt]

10x face, I think thats a fair price. I wouldn't buy it, but I would sell it at that. They're worth $6.37 a piece at todays current market price for silver.

I would buy every day at that price. Matter-of-fact, even at today's market price, try finding junk silver for less than 13 x face. Good luck!

It's all in where you look. There are many sources of "junk" silver besides coinage. I'd have to say I find something at least once a week.

Sorry, i thought we were talking silver half dollars.

 

[diggummup]

10x face, I think thats a fair price. I wouldn't buy it, but I would sell it at that. They're worth $6.37 a piece at todays current market price for silver.

I would buy every day at that price. Matter-of-fact, even at today's market price, try finding junk silver for less than 13 x face. Good luck!

It's all in where you look. There are many sources of "junk" silver besides coinage. I'd have to say I find something at least once a week.

Sorry, i thought we were talking silver half dollars.

Your right, we were. I guess I got off topic a little there. Apologies.

 

[Iheartmoney]

That sounds fair. I was offered the same price.

 

[scotty1418]

Anyone looking to sell at 10x face please let me know

 

[CoinHELP!]

As a coin dealer, I know the actual value of a 90% silver coin, considering today's silver spot, is $13.25 the face value. So, if a dealer buys at 10x then they know they can at least turn it over at 13x, and hope to turn it over at 15x, and hope that over the course of the few weeks (or more) they hold the coins in inventory, that silver doesn't dip to $16 or less. I have seen silver go up and down over the years, and it's always safe to buy it low, but fair, just in case.

I personally believe that 10x is fair, but if I already have a buyer at 14x or above, then I would pay a little more. This all depends on the grade of each coin and the rarity of the date and mint also. So, before you or anyone else considers selling silver coins, always educate yourself on the numismatic value of each date. Franklins and Kennedy Halves are not usually worth more than their silver content in lower grades, but when they began reaching mint state grades, or uncirculated, then their value goes above the current silver spot. This only applies when silver is below $20 an ounce, because it's at this point that the silver content can supersede the numismatic value of the lower to mid mint state grades.

 

[albertv]

Re: Question about silver half dollars/ so have much is a silver eagle worth B/U

As a coin dealer, I know the actual value of a 90% silver coin, considering today's silver spot, is $13.25 the face value. So, if a dealer buys at 10x then they know they can at least turn it over at 13x, and hope to turn it over at 15x, and hope that over the course of the few weeks (or more) they hold the coins in inventory, that silver doesn't dip to $16 or less. I have seen silver go up and down over the years, and it's always safe to buy it low, but fair, just in case.

I personally believe that 10x is fair, but if I already have a buyer at 14x or above, then I would pay a little more. This all depends on the grade of each coin and the rarity of the date and mint also. So, before you or anyone else considers selling silver coins, always educate yourself on the numismatic value of each date. Franklins and Kennedy Halves are not usually worth more than their silver content in lower grades, but when they began reaching mint state grades, or uncirculated, then their value goes above the current silver spot. This only applies when silver is below $20 an ounce, because it's at this point that the silver content can supersede the numismatic value of the lower to mid mint state grades.

 

[FreedomUIC]

As a coin dealer, I know the actual value of a 90% silver coin, considering today's silver spot, is $13.25 the face value. So, if a dealer buys at 10x then they know they can at least turn it over at 13x, and hope to turn it over at 15x, and hope that over the course of the few weeks (or more) they hold the coins in inventory, that silver doesn't dip to $16 or less. I have seen silver go up and down over the years, and it's always safe to buy it low, but fair, just in case.

I personally believe that 10x is fair, but if I already have a buyer at 14x or above, then I would pay a little more. This all depends on the grade of each coin and the rarity of the date and mint also. So, before you or anyone else considers selling silver coins, always educate yourself on the numismatic value of each date. Franklins and Kennedy Halves are not usually worth more than their silver content in lower grades, but when they began reaching mint state grades, or uncirculated, then their value goes above the current silver spot. This only applies when silver is below $20 an ounce, because it's at this point that the silver content can supersede the numismatic value of the lower to mid mint state grades.

So if I am hearing you correctly, if you have a Benny or Johnny that is uncirculated or is in proof condition, there is a premium associated with each coin, correct? How much of a premium are you talking about? I have several of both that are uncirculated or proof like sitting in my safe.

 

[Mackaydon]

The premium depends on condition measured in degrees towards 'perfection'. Perfection being a coin rated at 70 on the accepted coin condition scale of one to seventy. Differentiating the various degrees of (for example) 'mint state' coins ( rated 60 and above) can be estimated using a reference book showing pics of the various mint state rated value. For more valuable coins, there are a couple of reputable professional grading services available who will evaluate (rate 1 to 70) and 'slab' your coins for a fee.
Don...

 

[FreedomUIC]

The premium depends on condition measured in degrees towards 'perfection'. Perfection being a coin rated at 70 on the accepted coin condition scale of one to seventy. Differentiating the various degrees of (for example) 'mint state' coins ( rated 60 and above) can be estimated using a reference book showing pics of the various mint state rated value. For more valuable coins, there are a couple of reputable professional grading services available who will evaluate (rate 1 to 70) and 'slab' your coins for a fee.
Don...

So basically anything graded/slabbed is worth more then spot until it hits $20.00. That is of course it grades higher than ms64 or so.
correct?

 

[Mackaydon]

I think of 'spot' as only a starting point, say $18 per ounce for silver. From that, take off 10% if the coin is only 90% silver; that leaves a figure of $16.20. Now take off 10% for the smelter's profit; that leaves $14.58. Now take off another (say) 10% for the coin dealer's (or pawn shop's profit); that leaves $13.12 as what the dealer/pawnbroker might offer you for a one ounce 90% silver coin; 72.9% of 'spot'; about 13X face for a one dollar 90% silver coin.
Don.....

 

[LemonThrower]

you can get the melt values at coinflation.com

10x is fair from a dealer considering he has to make a profit, its cash on the barrel head, you don't have to wait to get paid or deal with security or nutcase risk going via craigslist.

but if you take some risk or put forth more effort 13x is realistic.

i'm a buyer at 12x right now, and i pay 3x for wheat cents.

 

[fistfulladirt]

you can get the melt values at coinflation.com

10x is fair from a dealer considering he has to make a profit, its cash on the barrel head, you don't have to wait to get paid or deal with security or nutcase risk going via craigslist.

but if you take some risk or put forth more effort 13x is realistic.

i'm a buyer at 12x right now, and i pay 3x for wheat cents.

And a bit more effort with eBait and 15 X currently.