Question on silver dollars

[mlayers]

I went out coin hunting and I stopped at a garage sale. Started talking to the person and she has some silver Peace and Morgan dollars but she was wanting $30 each for them. Do anyone one of you guys think this would be a good price to pay for these right now with the falling price of silver. She also has a $5 gold piece she is selling for me $350 If I am right on this there is a 1/4oz of gold in the $5 gold coin. Do you think I should jump on all of these. Or would someone here be intested in them for this price. If anyone in intested in them I can go back and get dates for you. I am planing on getting back with her the beginning of next week as this is when I will have my money.....Matt

 

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[ArkieBassMan]

Melt on the silver dollars is about $24 as I type this. Both typically carry a bit of a premium over melt - especially the Morgans. Melt on the $5 gold is ~$400 and US gold coins always carry a premium.

The $5 gold piece is an easy definite buy. I would think you could immediately make $50 profit on that coin very easily. Even with the falling silver prices, I haven't seen any silver dollars selling for under $30. I'd probably be a buyer at $30. It would be worthwhile to check the dates. Might be a "CC" Morgan or something hiding in there.

 

[SilverFace]

I just checked coinflation and Morgan and Peace dollars are at about $25 a piece right now but $5 gold coins are at $400 - but I suppose it just depends on what specifically the coins are.

Good luck

 

[ImpurestStewart]

coinflation.com Excellent source for seeing how much melt value US and Canadian coins have.

 

[ArkieBassMan]

coinflation.com Excellent source for seeing how much melt value US and Canadian coins have.

Absolutely. However, there are other things to consider. Most importantly, what you expect the price of silver to do in the future. If you think silver is headed back under $10 an ounce, then it makes no sense to buy silver at or near current melt price. If you think silver is headed back up, then now would be an excellent time to buy. Coinflation is an excellent guide, but it doesn't predict the future.

 

[ImpurestStewart]

coinflation.com Excellent source for seeing how much melt value US and Canadian coins have.

Absolutely. However, there are other things to consider. Most importantly, what you expect the price of silver to do in the future. If you think silver is headed back under $10 an ounce, then it makes no sense to buy silver at or near current melt price. If you think silver is headed back up, then now would be an excellent time to buy. Coinflation is an excellent guide, but it doesn't predict the future.

Very well put sir.

 

[madwest]

she was wanting $30 each for them

If she WANTS $30ea, she'll TAKE $25 - especially it you take at least a handful of them.

 

[azlegends]

The dates/mint marks are what's going to make the difference between a great deal and a good buy.

 

[brendan1414]

Make sure of what you are buying before it. Personally i would bundle it all up and offer a lump sum for it... much easier to get a better deal that way.

 

[clovis97]

If I were buying, I'd offer $25 each and then lay hundred dollar bills on the table.

"I've got $250 today for your 10 silver coins..."

 

[Generic_Lad]

You've got to get more information. That $5 gold coin is either a half-eagle, in which case its a pretty good buy, or a $5 1/10th ounce American gold eagle in which case you are paying $350 for a coin worth $160-170. As for the silver dollars, they certainly aren't rip offs, cheaper than what most coin dealers will sell them for you, but it really depends on date/mintmark and condition if they are worth it. If there are some key dates in there, yes it is worth it. If they are worn slick 1921 Morgans and 1923 Peace dollars... Not so much.

 

[OmegaMan]

If you are going to buy, bring a strong magnet. You would be amazed on how many
counterfeit Morgan, Peace and gold coins are out there.
Good luck.

 

[BuffaloBoy]

I picked this up for $26

http://forum.treasurenet.com/index.php/topic,427099.0.html