Anyone bought silver coins from tellers?? Need to pick your brain

[hyperHunter]

Went to dump halves this afternoon and did usual chat with tellers. I know they cull silver at this branch.

I happened to know that one of them just sold 90% halves someone deposited couple days ago (seemed to be a solid roll of 90%ers). Another teller told me he wanted to get rid of some of his silver dimes. I'd like to make an offer but not sure how much I should give him for. At spot or 5-10 percent below spot, any idea?

 

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[jarlbartar]

I think someone posted a similar experience to yours on here. Basically what the majority said was to give a low offer, if he takes it great, if not go a little bit higher but dont pay more than YOU think is fair. If he balks, just let him know what the local pawn shop, silver / gold buying snakes would offer.

 

[usandthem]

I bought from a teller about two weeks ago. I told her about Coinflation and that I'd pay 80% of the Coinflation value. I told her what the coin and pawn shops around here were paying as well. I even typed it all out on a spreadsheet for her. Be honest and open and everything should go smoothly.

 

[Solid Rolls]

Exactly!! Just be honest and open!!

 

[fistfulladirt]

A few years back, I bought a solid roll of Walkers and Franklins from a teller, on the line. They were her coins, I offered her 100% melt at the time, which was $100. My wife, who works with her said she would have been happy with $50.
I was happy when I later discoverd a key 1938D Walker in the roll.

 

[namster]

Man fellas, I cant bring myself to buy for melt at a bank. If I want to buy at melt or close to melt ill go to the coins shop. At banks I pay face.

 

[maverick]

Man fellas, I cant bring myself to buy for melt at a bank. If I want to buy at melt or close to melt ill go to the coins shop. At banks I pay face.

I agree with namster.

 

[hyperHunter]

Thank ya all for the inputs!!

 

[fistfulladirt]

Man fellas, I cant bring myself to buy for melt at a bank. If I want to buy at melt or close to melt ill go to the coins shop. At banks I pay face.

I fully agree. But believe it or not, in some locations it might take a crh'er months to assemble an entire roll of silver. For some of us, it's cheaper to buy at melt than accumulate at face value.

 

[ArkieBassMan]

Went to dump halves this afternoon and did usual chat with tellers. I know they cull silver at this branch.

I happened to know that one of them just sold 90% halves someone deposited couple days ago (seemed to be a solid roll of 90%ers). Another teller told me he wanted to get rid of some of his silver dimes. I'd like to make an offer but not sure how much I should give him for. At spot or 5-10 percent below spot, any idea?

Generally speaking, if I'm the buyer (anything for that matter...not just silver/coins), I let the seller set the initial asking price and then negotiate from there if necessary. I see no sense in offering "spot" if 50% of spot - or less - will buy them. My goal is to get the wanted items for the best price that I can. So my advice is to not "bid against yourself" by making the first offer.

With that said, thats how I would handle this situation. You should handle it in whatever manner that you're comfortable with.

 

[Sleazyj]

One teller has a steal penny and a sanding liberty quarter but she wont sell them to me for less then 20$ I told her its not worth that much. I may bribe them with the buffaloes I get

 

[boristhespider88]

At banks I pay face.

Couldn't agree with this more. I CRH to get silver at face, not have to pay a premium for it. I don't have that kind of cash...

 

[Solid Rolls]

Sometimes it makes sense to buy at a small premium from a teller, sometimes it does not. Just do what you are comfortable with.

 

[palidin20603]

If you can make money on a quick flip or buy at a discount to melt that is better than the coin shop, then I believe buying from tellers is a prudent transaction.

 

[usandthem]

If you can make money on a quick flip or buy at a discount to melt that is better than the coin shop, then I believe buying from tellers is a prudent transaction.

Thank you! It's all about stacking silver. If I relied on CRHing to build a position in silver I'd have about $10 in face value.

 

[Generic_Lad]

Buying things from tellers takes patience and the building of relationships. Often tellers are collectors but they might not collect the same thing. For example, a teller might collect buffalo nickels and keeps the silver coins only as curiosities. If you don't value buffalo nickels as much, you might offer to help complete their collection in exchange for some silver coins. Other tellers might be interested in silver, but couldn't care less about old paper money. Others might collect foreign coins and skip the US coins or vice versa. Just find what the overlap is between what you have and what they want and what they have and what you want and figure out a system from there.

 

[fistfulladirt]

Thank you! It's all about stacking silver. If I relied on CRHing to build a position in silver I'd have about $10 in face value.

I hear that my friend, we need to stack POUNDS not ounces!

 

[madwest]

Generally speaking, if I'm the buyer (anything for that matter...not just silver/coins), I let the seller set the initial asking price and then negotiate from there if necessary. I see no sense in offering "spot" if 50% of spot - or less - will buy them. My goal is to get the wanted items for the best price that I can. So my advice is to not "bid against yourself" by making the first offer.

With that said, thats how I would handle this situation. You should handle it in whatever manner that you're comfortable with.

This is exactly right. Ask how much he/she wants per dime. If it's way too high, just say "oh, I didn't realize they were worth that much. I can't pay that much. Thanks for offering them to me though. There's no sense in wasting time if you are too far apart to begin with.

If the asking price is reasonable (like $1.50), say "how about if I buy all that you have? could you go $1.25 each as a volume discount?

If the asking price is a steal, just say "ok. that's a bit more than I wanted to spend, but if you promise to keep my contact information and give me a good deal next time, I'll take 'em for that."

 

[hyperHunter]

All good suggestions. Thanks a bunch!!