Need suggestions on sellin silver

[Narthoniel]

Hello,

I am trying to sell some of my silver coins, and needed some advice on asking prices and what not. What can I expect to sell a 40% and a 90% half for? Any other information will be appreciated.

Thank you,
Anthony

 

[utah hunter]

Here is a link to the melt value of the silver:
http://www.coinflation.com/silver_coin_values.html

That is a start, and it used to be you could expect to sell for less than melt. Not anymore, I and many others pay more than melt value currently. Most coin shops will go $9 to $9.5 in my area. Hope this helps...Ryan

 

[Codes]

If you don't desperately need the money now, I'd hold on to your silver. It looks like silver is on an upward trend. However, if you really need the money your best bet would be eBay. Just search for Kennedy halves and you should get a good idea of what to expect.

-Codes

 

[phrostie]

I agree with Codes...the whole reason I got into this is instead of buying solid silver and gold bullion I just started looking for silver coins in circulation.

Trust me, hyper inflation = dollar worth less = gold and silver prices through the roof. But if you must...you can sell them to me!!

 

[utah hunter]

I agree with Codes...the whole reason I got into this is instead of buying solid silver and gold bullion I just started looking for silver coins in circulation.

Trust me, hyper inflation = dollar worth less = gold and silver prices through the roof. But if you must...you can sell them to me!!

Just a thought, if the dollar is worth 10% less, or 50% less, and gold and silver goes up 10%, or 50%, have you come out ahead? Just thinking out loud...

 

[Codes]

Just a thought, if the dollar is worth 10% less, or 50% less, and gold and silver goes up 10%, or 50%, have you come out ahead? Just thinking out loud...

Very true, I was just thinking about that yesterday. Correct me if I'm wrong, but a weaker dollar usually means something is going wrong. In my honest opinion, I would rather have a stronger dollar and a good economy (even if that means my silver is worth less) than have a crappy economy, a weak dollar and have silver worth more.

-Codes

 

[65gt350]

Hello,

I am trying to sell some of my silver coins, and needed some advice on asking prices and what not. What can I expect to sell a 40% and a 90% half for? Any other information will be appreciated.

Thank you,
Anthony

If you are asking how to find out what the dealers are paying just call them and ask for their "buy price" on 90% silver or 40% silver. I would also include the quantity that you want to sell. A dealers buy price on $100 FV might be different than $10FV.

You should see 90% being bought from 8.5 - 9.5 x FV. 40% varies so call around. Most people only want full bags of 40% so they will low ball you. You need to find a dealer that needs your 40% to fill his bag and that should get you a better price.

You can also check Craigslist in your area. Most buyers list what they are paying in the ad.

Best of luck.
65GT350

 

[acute collector]

I buy the stuff too.

Great comments above!

I buy the 90% and 40% too. I am in craigslist in the area and I put out a small ad in places ppl may gather.

I like the Local feeling that I get from the customer.

Thanks

 

[Silver Sniper]

Id hold onto those coins. The new Fed rate at 0% might hurt the economy with inflation. Whenever inflation sky rockets expect strong precious metal markets. With this weak economy and with the pumping of excess currency into the system stagflation may occur. Either case gold and silver is likely to appreciate. Remember 1964 dimes quarters and halves are backed by real value, silver, a hundred dollar bill is backed by a promise to pay by the government and is simply paper.

 

[phrostie]

Utah Hunter...Yes it does matter.

If you're choosing between $1 worth of gold right now or a $1 bill, it matters. If you choose the dollar today, in 5 years you will still have the dollar and will be able to buy less with it. In the contrary, if you take the $1 in gold, in a crappy economy people cling to precious metals....it's a hedge against a bad economy. In 5 years your $1 in gold today will be more than that... They are not inversely proportional.

For a more in depth look check out the disconnect between paper gold and real gold. Gold trades on COMEX (Commodities Exchange, paper gold). This is paper gold and are contracts for future deliveries. Actual bullion prices are much higher and some traders are not delivering on their paper contracts.

Gold is the safest investment there is because if our dollar becomes completely worthless, I'll still be able to buy soup and bread on the corner with it. Maybe we should go back to the gold standard....

 

[Narthoniel]

Wow, I posted this and went out for the day, and I am amazed at all of the replies since then.

If I could afford to hold these coins, I would. But, I cannot. I am virtually out of work and need the money. I am grateful to you all for showing me how to make money like this, and its time to cash in on what I have found to date.

I have tried craigs list for about a week now, and everyone emailing me is trying to insist I am asking too much. One person insisted that he could only offer $150 because He could only sell it for $215 and he needed some room for profit. I corrected him, and he verbally accosted me. 3 others offered me $250 for what I have for sale. The coins I have are mixed, and are 29.1 troy ounces in total. Felt like I was either completely in the wrong, or that everyone is trying to take advantage of me. Thanks for helping me feel a little better about it.

I really appreicate the tips. Thank you for taking the time to help me learn to do this better.

Anthony

 

[coolpix9]

You've got Mail !!

 

[markmopar]

I've sold both here and on BullionDirect's Nucleo Exchange and done very well on both.

 

[Rich Hartford]

Don't sell unless you have to. If I was going to sell I would do it on ebay. Avoid pawn shops and coin stores.

 

[utah hunter]

Utah Hunter...Yes it does matter.

If you're choosing between $1 worth of gold right now or a $1 bill, it matters. If you choose the dollar today, in 5 years you will still have the dollar and will be able to buy less with it. In the contrary, if you take the $1 in gold, in a crappy economy people cling to precious metals....it's a hedge against a bad economy. In 5 years your $1 in gold today will be more than that... They are not inversely proportional.

For a more in depth look check out the disconnect between paper gold and real gold. Gold trades on COMEX (Commodities Exchange, paper gold). This is paper gold and are contracts for future deliveries. Actual bullion prices are much higher and some traders are not delivering on their paper contracts.

Gold is the safest investment there is because if our dollar becomes completely worthless, I'll still be able to buy soup and bread on the corner with it. Maybe we should go back to the gold standard....

I wasn't talking about holding on to the dollar, that would be foolish, I agree with that. I am taking my oney and using it to make money with established clients worldwide that like to buy gold and silver, and collecters coins from me. If someone has a choice between eating and selling their silver, well, silver never goes down very good, even with salt

 

[golden silver]

Buy low and Sell high is what I always say! Silver is on the up and will be for 2009 and who knows how long after as hyper inflation and recession sets in and it will. No, I am not wishing this upon our nation but it is the bed they have made. The government is shelling out unprecedented amounts of bailout money which will require them to print more of the currency. This is the recipe for inflation and lots of it. I think silver stands a good chance of sky rocketing in value over the next couple of years. What good does it do to sell off your silver at a high price if the dollar is worthless? I suppose not much at first but you could plan on storing that money in a retirement account and waiting for the dollar to recover. Patience is the key here. The U.S. will no doubt rebound but it may take a while. The last country I think to lower interest rates this low was japan who later went into a ten year recession. So my thought is wait to sell when silver hits a new peak and stash the cash for a later date. Just my 50 cents.

-Golden Silver

 

[Rich Hartford]

Here is some trivia

Years ago I talked to some old timers who lived through bad times. If you went to the butcher and paid with script or worthless currency you got spam or mystery meat, at best.
If you had gold or silver you could buy steak in the backroom.