Silver coin question

[steveo40]

Hello All, I have a guy at work who has $76.15 face value in silver rosie dimes and 1 Washington silver quarter. I have seen the coins and they are legit. He is offering sell them too for 10X face value. Is this a fair deal? I am not a coin collector, but I have a few silver coin that I have found with a metal detector. Just never researched values on them. Thank you

 

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[CC-Hunter]

Yep - fair deal.

 

[baddbluff]

Melt value for $1 face value of 90% coins is currently $10.55. That's not a screamin' deal - barely under melt - but better than you'll do at any coin shop. If you are planning on sitting on it, go for it. You won't really be able to flip it for a profit right now, at least on eBay - the fees would eat up the difference. If you can sell it for melt on CL, you could make about 5% on it.

 

[Carolina Tom]

That's a decent deal. I am used to paying 11x or 12x face value.

 

[Dozer D]

Go for it since there are no additional costs involved: gas, postage, fees, insurance, etc. Your right there with the guy, buy them all; I don't see the melt price going too much lower (it's been hanging around current price long enough).

 

[dejapooh]

Good deal

 

[steveo40]

Thanks for the replies. Here is what 759 rosie dimes look like.

 

[Dozer D]

I assume that you bought them all at 10xface by the picture. I still think it was a good buy. If for example you bought one box, looked thru it and only got 1-Rosie, and if you take into consideration the gas involved to/from the bank to get the box, time to check at home, and then the trip to/from bank to return the box, would have well costed more in gasoline than 10-x-face (or $1.00) for that one Rosie. You just combined many many trips & boxes in one. I would be willing to do the same, if the situation arose. Good catch none the less.

 

[fistfulladirt]

Something to keep in mind for next time. When purchasing a large number of dimes or quarters, you may want to buy by weight. The reason I say this, is because those coins can lose between 10-30% in silver, through wear.
I have always seen the shops weigh the large purchases of junk silver.

 

[Dozer D]

With the few findings that we are all making, it will become that much more important to pick up AG where & how we can. Very similar to NETWORKING when you are out of a job, use as many sources of AG acquisitions as possible, providing the price is right.

 

[lastleg]

Assuming these coins were pulled from circulation and hoarded the seller probably checked
each one for rarity what you end up with is just melt value. So it's not like you personally
sacrificed your time to save them from the elements and value them as trophies. Rather
they are only purchased culled silver dimes. You think because they are silver they must
be valuable which is irrational. They possess the value someone else would pay for them.
A paycheck is valuable because it represents actual buying power. Your newly bought
coins are actual money although you would cringe to use them to pay for a snickers bar
being in concept a "precious" metal paying for a lowly candy bar.

The best use might be to scatter them over a local park pounded by every detectorist
in town to keep up their obsession of find a silver dime. You will sleep well knowing
you have made a contribution to our hobby.

 

[fistfulladirt]

The best use might be to scatter them over a local park pounded by every detectorist
in town to keep up their obsession of find a silver dime. You will sleep well knowing
you have made a contribution to our hobby.

Love it!

 

[Trezurehunter]

I would have gone thru with that deal. Nice haul.