selling my old silver for scrap

[TORRERO]

Anyone here ever sold there old silver coins for scrap weight price ?
I think I will go through that Northwest refinerys place...
what do you think ?

200 dimes
27 quarters

 

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[azmetaldetector]

I think that it's a bad idea to sell old coins for scrap, because now these coins will no longer be available to anyone ever again.
You can usually get at least 7x face value from a dealer or maybe more these days with the price of silver. Then at least they will be in a coin shop somewhere and be available to anyone whom might want to buy them..

I know my MD club buys silver coins that don't have a lot of numismatic value from dealers and they sell it as 'x' amount over face value. We use them in our club hunts.

I'd hate to see great silver coins just melted down for cash.

 

[Bridge End Farm]

I think that it's a bad idea to sell old coins for scrap, because now these coins will no longer be available to anyone ever again.
You can usually get at least 7x face value from a dealer or maybe more these days with the price of silver. Then at least they will be in a coin shop somewhere and be available to anyone whom might want to buy them..

I know my MD club buys silver coins that don't have a lot of numismatic value from dealers and they sell it as 'x' amount over face value. We use them in our club hunts.

I'd hate to see great silver coins just melted down for cash.

I ditto this for it was pretty much what I was saying. I know my club would like to have then for club hunts

 

[Bassfish]

Send me a PM, tell me what you want for them.

 

[TORRERO]

http://www.coinflation.com/coins/1946-1964-Silver-Roosevelt-Dime-Value.html#meltvalue

according to this, dimes have a silver value of $1.17 that's about 12 x face value...

If someone wants them I can count them up, and if you give me $2 each plus shipping, you or your
club can have them.....

Many different dates, I saved 1 of each date and mint mark to try to make a complete collection.

 

[UncleVinnys]

I agree with those above. The numismatic (coin collector) value is MUCH
higher than the silver value.
Best to take them to a coin dealer, or better yet, just buy a copy of
Coin Prices magazine and see what they are worth, then sell them on eBay or something.

My 2-cents.

 

[Ant]

I think you meant Midwest Refineries. You don't have enough silver to sell, unless you only want a few bucks.

 

[bomber]

as long as were on the subject,i've got some 1/2s i was thinking about getting rid of,but i think i might be getting screwed,i've got 127 90%ers and 325 40%ers,a guy offered me $1200.any thoughts?

 

[TORRERO]

For those of you who mis-understand, there is not much "Numismatic" value to these coins.
All dug, over a period of 25 years or so, I have decided to try to clean out my pile, so to speak.
On Amazon.com you can buy a Murcury dime for $1.99 plus shipping & handling...
I do not have the time nor patience to sell 200 + - coins online like this... and these conditions might be good or better or worse, but I don't have time to pay someone to work through them to try to find
10 in EX condition... a real nightmare..

For those who have not dug many silver coins, I am sure this is a shock to you, but those with years
of experiance will tell you, that a Merc is a Merc, a Rosie is a Rosie... if the date is not rare, its just another dime...

Silver value is aprox. $1.20 per coin....
if I can sell them, I don't care who buys them...

 

[1960texan]

Have you checked out eBay? About two weeks ago a roll of '64 Kennedys went for a few dollars over melt value. I think there are enough people out there speculating on the future price of silver to make it worth your while to sell your collection at auction.

1960Texan

 

[TORRERO]

I think you meant Midwest Refineries. You don't have enough silver to sell, unless you only want a few bucks.

Silver is about $18 an ounce...
I have about 2-3 pounds...
how can that not be enough ??

 

[Marty-Graw]

dont worry about splitting them up....sell the entire lot on ebay or maybe price them to an individual for a set price.....someone will buy them.....keep in mind ...they dont make coins out of silver anymore.....just like taking antique furniture outside and making a bonfire......or shooting hillbilly mountain dew bottles with a BB gun.....those are items that will never be produced again and if everyone sold silver coins for scrap value then there would be none to collect

 

[Bridge End Farm]

http://www.coinflation.com/coins/1946-1964-Silver-Roosevelt-Dime-Value.html#meltvalue

according to this, dimes have a silver value of $1.17 that's about 12 x face value...

If someone wants them I can count them up, and if you give me $2 each plus shipping, you or your
club can have them.....

Many different dates, I saved 1 of each date and mint mark to try to make a complete collection.

I have a club meeting Monday and will present it to them will let you know 227 coins @2 a piece plus shipping.

 

[Ant]

I think you meant Midwest Refineries. You don't have enough silver to sell, unless you only want a few bucks.

Silver is about $18 an ounce...
I have about 2-3 pounds...
how can that not be enough ??

Midwest pays 90 present of spot on US Silver Coins.

At the moment the Silver Spot price is 16.53 a troy ounce, not Avoirdupois ounces. And when I did the calculation a few minutes ago 90% of the spot price was around 14.85. That’s what Midwest would have paid at that time.

So if you had the following the payout would be close to this:

2 lbs avoirdupois = about 29.1 troy ounces:
29.1 x 14.85= $432.13

3 lbs avoirdupois = about 43.7 troy ounces
43.7 x 14.85=638.00

Although it might be better to hold on to, that’s not a bad payout. So I’ll recant what I said about you not having enough. It might be worth holding on to, to see if silver follows gold on the up and down climb.


Let me know if I blew it on my calculations .

 

[moonshine]

For those who have not dug many silver coins, I am sure this is a shock to you, but those with years
of experiance will tell you, that a Merc is a Merc, a Rosie is a Rosie... if the date is not rare, its just another dime...

yes i am shocked.

one lot (all the coins for sale all at once) on ebay is the best way to go because someone will see the numismatic value in addition to metallic value.

 

[1960texan]

or shooting hillbilly mountain dew bottles with a BB gun

I had a collection of those when I was a kid. I think I cashed them in at a nickel each when I was about 10 or 11 (this would have been the early 1970's). Bummer.

1960Texan

 

[Ant]

Hey, I missed one factor and that factor is the 10% charge to Midwest Refineries. The truth is, I only added in the 90% silver factor, that's a 10% loss of the spot price right there.

The total loss should be 20% ("10% for the 90% silver and a 10% fee”). That’s a 20% loss right off the top, and you might want to add insurance that might cost about $8.00 to $13.00, and postage.

That would lower your 2 lbs lot payment down to $388.85,
And your 3 pound lot to $574.20.

Note: MWR only pays 88% spot for sterling and silver jewelry.

 

[TORRERO]

They charge 10% no other fee...

 

[Ant]

They charge 10% no other fee...

Right, unless it's sterling or jewelry, they charge 12% for that.

 

[BuckleBoy]

They charge 10% no other fee...

I think the other 10% he was referring to was the fact that he calculated the weight at 100% silver rather than 90% silver. So his deduction of 20% (10% for the fee plus 10% for the incorrect math) is right. Minus also postage and insurance.

-Buckleboy