Getting the most for silver coins?

[PanManStan]

I'm sure some of you sell the coins you find, so I thought I'd re-post this question here that I posted in the Coins section also:

Hi everybody. I was wondering if anybody had any suggestions for getting the most money for silver coins. I'm asking because I've been buying Morgans and Walking Libs from ebay, paying on average about $12 each for the Morgans and $4.50 each for the WL's. I just went down to the only coin shop in the area to buy some 2x2's and figured I'd bring along my stash and get their opinon on it. The guy said none of them were special (which I already figured) and said the Morgans were worth about $5 a piece and the WL's about $3. I know he's got to make a profit, but sheesh!.

I really want to believe the guy is honest because he's given me great deals in the past, and I buy 5oz silver bars from him which he lets me trade in for 10oz bars at no cost when they have a 10oz I like. Then he lets me trade the 10's for 100's at no cost. But when I went today he was with someone else, so I was looking at his Morgans. He had a few, of the exact same year, mint, and condition as mine and they were selling for $55 - $110! I realize y'all weren't there but, doesn't it sound like he's trying to pull a fast one?.

Anyway, back on topic, how do I get the most for these coins and get back to buying bullion?

Stan

 

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[coolcash2004]

Hi!

That is a rip off for $5 per Morgan.


MAYBE, just maybe he gave you good deals because he buys his stuff at low prices. Even a cheap dealer will pay at least $10 per bulk morgan now for the silver.

As for the same year and mint.... you sound like a TH and not someone who really collects coins. They were most likely in far better condition to be going for thos prices.


Me? I sell my finds either to the coin store or at the monthy COIN SHOW. Ebay is also a pretty good place. I reccomend selling the silver coins and maybe buying some collectible coins. I don't reccomend selling anything old like Walkers or Morgans. Try to just sell Silver Kennedies and maybe some Franklins.

HH!

-CC

 

[PanManStan]

I'm not a coin grader, but the coins were visually identical to mine. Same wear and coloration. Maybe I'm missing something.

 

[coolcash2004]

No, your not.

Doesnt seem like it anyways.... try going back when the dealer is alone, and engage a conversation. i am sure he wont mind if you ask why he pays $5 and most will pay double. Could have been a simple miss understanding.

-CC

 

[soldierman]

I haven't sold any silver dollars to my dealer yet but guess he would pay 9.00-10.00 on common silver dollars. I have sold many half dollars to him and am guessing from the prices I was paid for common silver halfs. He usually has a bucket of common silver dollars that I cherry pick for nice peace or morgans priced at 14.50.

 

[PanManStan]

Yeah, this guy has Morgans and Peace for $15 in a bin. But they're in way worse shape than mine. They're almost worn bare.

Stan

 

[cyberdan]

I'm asking because I've been buying Morgans and Walking Libs from ebay, paying on average about $12 each for the Morgans and $4.50 each for the WL's.

So you are my competition I have been doing the same but I won't go that high. I win some, but lose most.

...and said the Morgans were worth about $5 a piece and the WL's about $3.

I try to pay about 75% (includes shipping) of what my local coin store will pay me. Right now with silver at $12.53oz he will pay about 8.14X face for 90% and 3.04X face for 40%.
That makes junk coins sell for: $1 = $8.14 50cent(90%) $4.07 50cent(40%) $1.52

 

[jewelerdave]

Fortunately I am in a different spot. I melt my 90s into jewelry that is sold for a profit. otherwise Ebay. and when it comes to Ebay its not just about the product, its picture quality wording etc. Just tell everyone that yours are the best in the world and better than the others LOL and watch the bids go higher!