HELP found HUGE SILVER COINS

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
Hey! So I found someone selling large silver coins for $10 each! Not old, just colletable silver coins. Doesn't come with box. I looked on ebay and every coin that was the same as he was selling was going for $30-50 each!!! What I want to know is, is it worth paying lots of money in hopes to resell for more? I don't know how long it takes to sell coins online (if they sell at all)... I plan to use Facebook to resell if I purchase so I don't have to pay to sell my coins. I'm a newbie at coin collecting/selling so PLEASE let me know if this is a good idea ASAP! Worst comes to worst...I'll buy only a few and see if they sell. Thanks
Screenshot_2020-09-18-19-37-14-1.png
Screenshot_2020-09-18-19-37-48-1.png
 

Last edited:

Charlie P. (NY)

Gold Member
Feb 3, 2006
13,003
17,106
South Central Upstate NY in the foothills of the h
Detector(s) used
Minelab Musketeer Advantage Pro w/8" & 10" DD coils/Fisher F75se(Upgraded to LTD2) w/11" DD, 6.5" concentric & 9.5" NEL Sharpshooter DD coils/Sunray FX-1 Probe & F-Point/Black Widows/Rattler headphone
Primary Interest:
Metal Detecting
Hey! So I found someone selling large silver coins for $10 each! Not old, just colletable silver coins. Doesn't come with box. I looked on ebay and every coin that was the same as he was selling was going for $30-50 each!!! What I want to know is, is it worth paying lots of money in hopes to resell for more? I don't know how long it takes to sell coins online (if they sell at all)... I plan to use Facebook to resell if I purchase so I don't have to pay to sell my coins. I'm a newbie at coin collecting/selling so PLEASE let me know if this is a good idea ASAP! Worst comes to worst...I'll buy only a few and see if they sell. Thanks

Pretty vague as to what you are actually looking at. I would advise not to invest in coins that are not old - but are modern and "collectable". Especially if they are not circulation strikes or mint sets/proofs of circulation coins. Old coins are collectable because they are old and they're not being made any more.

It's tough to buy low and sell high in a short time. Especially if the seller puts out another lot while you are trying to sell yours for more. Established dealers can work the dips and buy and wait out a market rise. Or have a steady customer base.

On the otyher hand. I have seen used R/C related items sold on ebaY for more than a new item could be had. You just have to find someone who wants what you have.
 

Last edited:

Red-Coat

Gold Member
Dec 23, 2019
5,211
16,329
Surrey, UK
Primary Interest:
All Treasure Hunting
Good advice above from Charlie. I would add a couple more pieces of cautionary advice.

You need to be sure that you are comparing like-with-like as regards grading/condition if you're looking at fleabay prices. One level up in grading can easily make the difference between $10 and $50, or between collector item and melting pot destiny for silver.

Also the term "going for" with respect to fleabay is not the same thing as "value" or even necessarily mean that the coin has actually sold to anyone at that price. Particularly if you're looking at "buy it now" pricing offers. It never ceases to amaze me that common coins are "hyped up" at unrealistic prices and people apparently buy them at those prices... but that's no guarantee that you can be similarly successful.
 

islamoradamark

Silver Member
Aug 26, 2016
3,628
3,993
Primary Interest:
All Treasure Hunting
if there sellin for 30 to 50 bucks and you can get -em for 10 bucks and there real i would buy all of them
 

OP
OP
Mvgirl

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
Pretty vague as to what you are actually looking at. I would advise not to invest in coins that are not old - but are modern and "collectable". Especially if they are not circulation strikes or mint sets/proofs of circulation coins. Old coins are collectable because they are old and they're not being made any more.

It's tough to buy low and sell high in a short time. Especially if the seller puts out another lot while you are trying to sell yours for more. Established dealers can work the dips and buy and wait out a market rise. Or have a steady customer base.

On the otyher hand. I have seen used R/C related items sold on ebaY for more than a new item could be had. You just have to find someone who wants what you have.

Screenshot_2020-09-18-19-37-14-1.png
Screenshot_2020-09-18-19-37-48-1.png
 

OP
OP
Mvgirl

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
Thanks for taking the time to reply and for giving advice. He did say some were uncirrculated.
 

OP
OP
Mvgirl

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
Good advice above from Charlie. I would add a couple more pieces of cautionary advice.

You need to be sure that you are comparing like-with-like as regards grading/condition if you're looking at fleabay prices. One level up in grading can easily make the difference between $10 and $50, or between collector item and melting pot destiny for silver.

Also the term "going for" with respect to fleabay is not the same thing as "value" or even necessarily mean that the coin has actually sold to anyone at that price. Particularly if you're looking at "buy it now" pricing offers. It never ceases to amaze me that common coins are "hyped up" at unrealistic prices and people apparently buy them at those prices... but that's no guarantee that you can be similarly successful.

True I never thought about grading. Thanks for tEllington me about the ebay prices... didn't know that. The guy did say some were uncirrculated. He had some for $5 dollars too. Maybe I should set a limit for myself to spend...let's say 40 dollars or so. Then I try to sell them and see what happens. If they sell great I'll see if the guy will sell me the rest if he still has them. If they don't sell well, I'm out 40 which is a big blow however if they are silver I'll still get some money back from them. What do you think? Does that sound like a good plan or not?
 

FreeBirdTim

Silver Member
Sep 24, 2013
3,757
6,731
Scituate, RI
🥇 Banner finds
1
Detector(s) used
Garrett AT Pro
Primary Interest:
All Treasure Hunting
They might be cheap because they are counterfeit and just silver plated junk. Why would anyone sell a coin for $10 when they're selling for $30-$50 each?
 

Charlie P. (NY)

Gold Member
Feb 3, 2006
13,003
17,106
South Central Upstate NY in the foothills of the h
Detector(s) used
Minelab Musketeer Advantage Pro w/8" & 10" DD coils/Fisher F75se(Upgraded to LTD2) w/11" DD, 6.5" concentric & 9.5" NEL Sharpshooter DD coils/Sunray FX-1 Probe & F-Point/Black Widows/Rattler headphone
Primary Interest:
Metal Detecting
OP
OP
Mvgirl

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
They might be cheap because they are counterfeit and just silver plated junk. Why would anyone sell a coin for $10 when they're selling for $30-$50 each?

True...but he could be an old guy that doesn't know how to research or is moving and getting rid of stuff.
 

PetesPockets55

Bronze Member
Apr 18, 2013
1,635
2,882
Indian River Co., Fl
Detector(s) used
AT MAX & Carrot, Nokta Pulse Dice (:
Primary Interest:
All Treasure Hunting
FreeBirdTim makes a great point about fakes.

Buy only what you can afford to lose the first time, in case they are fake.
 

OP
OP
Mvgirl

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
They are only worth more than $5 in MS-63 grade and higher (absolutely pristine mint state). BUT, there is $19 worth of silver in them currently at melt value! Yeah, at $10, if the seller actually sends them, that's a good deal.

The USA isn't a great place to move Canadian coins. Your results may be better

https://www.ngccoin.com/price-guide/world/canada-5-dollars-km-84-1973-cuid-1034634-duid-1269865

Well he lives nearby and I'd only buy in person. Hope he contacts me soon. Thanks for your help
 

OP
OP
Mvgirl

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
FreeBirdTim makes a great point about fakes.

Buy only what you can afford to lose the first time, in case they are fake.

Sounds like the safest plan. I only buy in person...buying online without seeing them for yourself is way too risky.
 

OP
OP
Mvgirl

Mvgirl

Hero Member
Aug 6, 2018
506
1,495
Detector(s) used
Bounty hunter land ranger pro, garrett carrot
Primary Interest:
Metal Detecting
Pretty vague as to what you are actually looking at. I would advise not to invest in coins that are not old - but are modern and "collectable". Especially if they are not circulation strikes or mint sets/proofs of circulation coins. Old coins are collectable because they are old and they're not being made any more.

It's tough to buy low and sell high in a short time. Especially if the seller puts out another lot while you are trying to sell yours for more. Established dealers can work the dips and buy and wait out a market rise. Or have a steady customer base.

On the otyher hand. I have seen used R/C related items sold on ebaY for more than a new item could be had. You just have to find someone who wants what you have.

Hey! I just had a thought. To test if they are real, I could bring my metal detector and see what the ring up!!! Guy might think I'm a loony but who cares lol :D
 

FreeBirdTim

Silver Member
Sep 24, 2013
3,757
6,731
Scituate, RI
🥇 Banner finds
1
Detector(s) used
Garrett AT Pro
Primary Interest:
All Treasure Hunting
Hey! I just had a thought. To test if they are real, I could bring my metal detector and see what the ring up!!! Guy might think I'm a loony but who cares lol

That's not a bad idea. If there's brass under the silver, they will ring up lower than silver. On my AT Pro, that would be in the 70's or lower. Bring a magnet as well. Most fakes don't have steel under the silver, but you never know.
 

Terry Soloman

Gold Member
May 28, 2010
19,410
30,023
White Plains, New York
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Nokta Makro Legend// Pulsedive// Minelab GPZ 7000// Vanquish 540// Minelab Pro Find 35// Dune Kraken Sandscoop// Grave Digger Tools Tombstone shovel & Sidekick digger// Bunk's Hermit Pick
Primary Interest:
Metal Detecting
Weigh them, do the magnet test, do the "ring" test, take one to a jeweler and have an acid test done. They are fakes from China at $10 each.
 

Trezurehunter

Gold Member
Mar 22, 2003
17,860
21,408
Illinois / Oklahoma
🏆 Honorable Mentions:
8
Detector(s) used
Minelab Equinox 800 - Fisher CZ 5
Primary Interest:
All Treasure Hunting
I would be cautious, as there are many fakes out there. Make sure you do your research and investigating in the coin world, so you know how to identify properly. If they are fake, $10.00 for one coin is not the end of the world, but $10.00 each for 10 coins starts to add up to a stomach ache if they are fake. Good luck, because if they are real silver, it is a good deal.
 

Top Member Reactions

Users who are viewing this thread

Top