The business end of things...

[TheMastermind]

Currently in the process of remodeling my living room, and needed to fund this project. To do so, today I sold 500 90%ers. Mostly Kens, but it also included five rolls of Bens and three rolls of Walkers.

My LCS was offering $4.75/coin. The best that my local pawn shops could do was $2.50/coin. Lol, smh.

Through craigslist, I was able to secure a deal for $5.10/coin.

Right now, coinflation.com is showing a value of $6.01/coin. So, I was able to realize 84.85% of melt value.

For $250 in face value of 90%ers I was handed $2,550 in cash.

Not too shabby.

Figured this would give some new guys insight into the business end of this hobby, many times your best bet for realizing profits as close to melt as you can get is through private transactions. Always proceed with caution, your mileage may vary.

 

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[Dozer D]

Anything close to ten-times face is an attractive offer price to get IMO.

 

[Rawhide]

Good business model.

 

[Silver Saver]

There is an awesome subreddit(PMSforsale) people use to buy/sell. Like you said, the best deals come from private transactions with no middleman. I've bought most of my silver from there for spot or under with no issues. But one must still always be careful. On the other hand, it's also nice and simple when you can just find a local buyer and meet up for a quick transaction.

 

[FormerTeller]

Provident is currently paying $5.75 per coin, but you have to pay for shipping, and of course there's the trust factor. I agree, face to face is probably best.

I'm surprised your LCS was only paying 75% of melt. Mine pays closer to 85 or 90, and for large transactions I've bargained up to 95%. Of course, there are several stores in my area, so that may be a factor.

 

[GB1]

good idea my coin collection may go toward collage

 

[Diver_Down]

Provident is currently paying $5.75 per coin, but you have to pay for shipping, and of course there's the trust factor. I agree, face to face is probably best.

I'm surprised your LCS was only paying 75% of melt. Mine pays closer to 85 or 90, and for large transactions I've bargained up to 95%. Of course, there are several stores in my area, so that may be a factor.

Isn't the minimum with Provident $1000 FV? The shipping isn't a big deal as the USPS Flat Rate covers it. The other benefit of person to person cash deal is there is no transaction history.

 

[RTR]

Mastermind.Glad you made the deal.And sorry you let them go(been there did that).A bittersweet situation...just saying.

 

[Professor of Engineering]

Nicely done!

 

[smokeythecat]

You did well. I dumped all my small denomination stuff last year, but kept a few pounds of halves I found all together. You have to consider your mileage when crh'ing. I haven't done much lately as the one bank demands everything be run through their machine and they won't take rolls, and the people at the other place just growl at me.