What To Do With Your Silver

[miser]

Ok,

Let's say after a couple of years of digging you come up with a healthy load silver content nickels, dimes, quarters, half dollars and dollars. And let's say you've already weeded out the choicer coins that have collector value based on scarcity and/or condition. You still have a big pile left over.

What do you ultimately do with these coins? It seems to me the scrap silver value exceeds their face value. Where do you take them to cash them in? Can you legally turn in old coins for scrap? Or am I commiting blasphemy for even suggesting melting down an old coin?

 

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[BioProfessor]

Try this place:

http://www.mjpm.com/silver.cfm

Daryl

 

[vpone]

here's a general guide

take them to a reputable coin dealer in your area

first seperate common silver coins from older silver coins
these shoudl include :
kennedy halfs (non 40%)
washington quarters
roosevelt dimes
mercury dimes (this one is debatable i use to count these as common coins)

keep (or sell seperately) the barber quarters / dimes, slq's, walkers, franklins, morgans and peace dollars at better rates than the common silver (even if they are common dates)

then pull any key or semi key dates from this pile of common silver coins

this is the "bulk" silver you want to sell
a coin dealers will pay you on the $xx times the face value of the silver coins you have
example:
if you have $6.00 face value of silver in 24 silver washington quarters the will pay you
$xx times the $6.00 face of silver you have for these coins

exceptions :
keep 40% silver kennedy halfs in a seperate pile, they are figured at a lower rate
very damaged older silver coins & no dates can also be included in the common pile

hope this helps

vp

 

[captain Jack]

my advice, for what it's worth, would be to keep it. Silver spot prices are on the rise, so just hold on to it. That's what I do. It adds to your retirement portfolio a section that actually fights inflation! It does this because it IS inflation that makes the silver more valuable. Well, that and the scarcity.

Fact: Although the dollar amount has gone up more on gold, silver has actually increased 200% over the last 6 or 7 years vs. gold's 80%.

Just something to think about. I keep all my silver coins (even the 40% halves) and even have bought some silver bars, and consider it part of my retirement. Hey, I have like 40 years till I can retire, it can only be worth more.

 

[Jeffro]

If you want to sell now, try Kitco or Midwest refiners.

 

[MEinWV]

If you don't have to sell, don't! I sold over one hundred dollars face value in junque silver I found back in '80, but at 24 times face, I just couldn't resist. I still wish I had all of it to show and tell. Maybe someday the prices will go through the roof again.

Keep or Reep, the choice is yours.

Good luck!..........HH