Selling stash

[n8dagr8345]

I am just curious- What % do your pawn shops or coins shops typically but at? Lets say if spot is X what do they normally buy at? My guess is 80% of X.
n8

 

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[GEOFF]

all the pawn/dealer shop i've been cut deep, like 7x face. f that. i rejected.
providentmetals.com is your best bet.

 

[red89]

I actually went into a shop today to see what they were going to offer. I took in just what I found today, 5 40% 2 1964 halves, and 2 1970d halves. He only offered me 35 bucks. I just kept my coins.

 

[ArkieBassMan]

I actually went into a shop today to see what they were going to offer. I took in just what I found today, 5 40% 2 1964 halves, and 2 1970d halves. He only offered me 35 bucks. I just kept my coins.

Thats nearly 75% of melt value. Dunno what you were expecting, but thats WAY better than average from a local shop, and a fair offer for a small amount of silver IMO. I'm shocked the offer was that good, especially with the falling prices of silver.

 

[TimZim]

Am not sure what they pay. My coin shop charges 3% over spot. If i were you i would wait. silver just went down about $5.00 An oz . If you want i can get back to you tomorrow. Am going to get some coin tubes.

 

[ArkieBassMan]

Way back when silver was ~$20, my one and only local coin shop was paying 4-5X face for 90%...so I'm guessing he is paying 6-7X now. A few months ago a local pawn shop was advertising that they would pay 1 gallon of gasoline for 2 silver dimes. Gas was about $3.50 at the time (I think), silver was about $35 so they were giving about 17.5X face. I'm sure they're paying nowhere near that now, but that was by far the best offer I have heard about locally.

 

[red89]

Thats nearly 75% of melt value. Dunno what you were expecting, but thats WAY better than average from a local shop, and a fair offer for a small amount of silver IMO. I'm shocked the offer was that good, especially with the falling prices of silver.

I'm pretty sure these coins came from someones collection though, they were all in really good shape. I think they are worth more than just the melt value. The 1970d halves dont have any scratches on them. The 64s have a few, and the 40%ers are in good shape as well. I was just pricing them anyway, I am not looking to sell any of my coins.

 

[namster]

Now would be a bad time to sell, IMO.

 

[ArkieBassMan]

I'm pretty sure these coins came from someones collection though, they were all in really good shape. I think they are worth more than just the melt value. The 1970d halves dont have any scratches on them. The 64s have a few, and the 40%ers are in good shape as well. I was just pricing them anyway, I am not looking to sell any of my coins.

I hate to disappoint you, but your non-1970 40%ers and '64s are pretty much worth melt regardless of condition, unless we're talking MS67+...which is highly doubtful. Even if they would grade that high, it isn't easy to find a buyer/collector of high grade Kennedy halves as there just aren't that many. Also, mint and proof sets from those years can be bought very reasonably and those coins are sealed and uncirculated. Your '70Ds would likely bring a tad more than melt, but not much more at all. If you'll look on eBay or other sites, you'll find that you can often buy the whole - still sealed - 1970 mint set for less than $10. No one is going to (or more accurately should) pay much of a premium for a circulated coin when they can buy that same coin, sealed and uncirculated (plus the quarters, dimes, nickels, and cents) for just a tiny bit more.

 

[rossman85]

I actually just sold a bunch of silver coins... luckily I found someone who has money to blow and gave me 90% value... but he did tell me a typical coin shop usually gives 82% value if that helps. I don't know the guys I sold them to personally, but was definitely not an idiot by any stretch. Hope this helps

 

[BuffaloBoy]

coin shops(local rip-offs) are currently paying 3x face for 40% clad... noy good! their sell prices are over inflated too.

 

[n8dagr8345]

Now would be a bad time to sell, IMO.

I am actually looking to buy on the private side- I wanted to have a few price comparisons so I dont lowball too much!
N8

 

[sagittarius98]

I know one coin shop in my area that charged $45 per morgan when prices were around $35 per morgan. Their halves were priced at $18.50. I have never tried to sell anything there. I did get a war nickel from them for only a quarter as the person in charge of the coin section (store is mainly tobacco) was on leave, so the tobacco person was selling. She didn't know about coins, and one of the war nickels ended up in the clad Jefferson box.

 

[midntmn]

You may already know this, but there is a classified ad section on this site where members can buy and sell. I had a good buy transaction on some morgans/peace dollars about a month ago. Worth checking from time to time. Also look at Kitco.com. They have a gold and silver message board and members offer coins and bullion for sale, at least they did a few years ago. I bought quite a bit without problems then. In both these situations you are dealing directly with an individual and, other than Paypal, there are no additional fees.

 

[SilverForBrains]

I always sell on ebay, even with the fees I get the best price

 

[jheuerman]

I must have a nice coin shop cause they are consistantly at about 90% spot for the 40's and 95% spot on the 90's

 

[usandthem]

Around here coin shops pay about 75% of melt. I try to pay 80% just to keep the coins from goin' to a coin shop where they sell at about 15% above melt. I saw a fella at my LCS sell his quarters for $4 each and the LCS was turning right around and selling them for $7. This was about two weeks ago.