Upcoming Coin Show

[apush]

As the price of sliver is on the rise, I need some advice. On October 8th, I will be heading to my first coin show. I plan on selling 400 of my halves. The best advice I have been give is: A) get there early to sell; B) go to the various booths and ask if they purchase junk 40% silver; and C) how much are they willing to pay? Am I missing anything

HSH,

apush

 

[fistfulladirt]

Sounds like you have it covered, you should be able to get a good price, I've done good selling at the shows. Good luck

 

[d2arcing]

thats about it, just take a peak at where silver is before you go (coinflation) to figure how much you should expect... also visit most of the booths to see all offers.

but gzzz you found more then me in a shorter time i think

 

[apush]

Started in Jan, but with only 1 box of halves per week. Slowly built up to 5-8 depending on work load. Tonight I am working on boxes 5-7. Picking up a loner tomorrow.

HSH,

APUSH

 

[Numismaniac]

Apush,

Have you thought about listing them on Ebay? I know there are fees, but I've done pretty well in the past selling them on Ebay -- the fees are probably kinder than the spread most dealers have... Of course you have to mess with shipping them and all that stuff. I only sell the 40% halves. I just can't part with my 90%!!! Of course then I buy gold coins with the money from the 40%ers... Easier to store.

It's funny you have 400 of them. That's the amount I've sold the most times -- seems to work well... I got right about $1000 for my last batch (before the latest run up in silver) after the Ebay/Paypal fees. With Ebay's fee structure you do better to sell them in larger lots since the fee is capped at around $50 I think. I was in a coin shop today and by my calculations I would still do better selling on Ebay than what most dealers will pay -- might do better at a big coin show though.

Either way, you did great! Congrats, and what a time to sell with silver out of control. I'm regretting all the 40% I've sold over the years at a fraction of what it's worth now... Always got more than face value though, so I guess I'll quit feeling sorry for myself.

My wife says I have a coin/gold/silver problem! She just doesn't understand.

 

[rileyboy]

Apush,
Make sure you check all the silver buyers at the show. Also, don't let them know how many
rolls you have until you get a price. Then see if they will raise their price to buy them all.
Just my two cents worth. Good luck and keep us posted.
rileyboy

 

[Argentium]

Apush , You might want to lose the word junk when you ask if the dealers are buying 40%ers
as it isn't helping you . I am aware that this is a term commonly used to describe pre - 1965
circulated , U.S. coin , so as to distinguish it from numismatically collectable coins of the same
period . I also whole heartedly agree with the idea of selling 40 %ers , and purchasing either
.999 silver bullion , or fine gold bullion - Good luck ! Argentium.

 

[Tattooguy67]

Seems like all good advice, but I do agree with Argentium on the whole junk/scrap issue, some dealers are weird about that, I have run into some that are all "how much do you want" and bring out the tubs or bags or..., then others who look at you like you asked to molest their gramma! I personally do not like either word in regards to coins, but they do a very good job of telling folks what you are after. Also if the dealers are not paying what you want maybe make a quickie sign and hang out by the door or in the parking lot, with Mr. Apush as a bodyguard of course! Good luck and HH!

Chuck.

 

[47thelement]

Is this basically the same advice for 90% coins also.

I've got a show on sunday. I can barely sleep

Apush-thanks for the thread, you beat me to it

 

[apush]

Something else--if silver remains say at $20.00--then what should I expect as a fair price for 400 40%ers?

Thanks for everyone's advice.

apush

 

[FreedomUIC]

The Melt Value with spot @ $20.77 is $3.07, you can dicker from there. I would think $2.50 at least
per coin.

 

[Diver_Down]

Keep in mind the size of the show. A medium size show (>50 sellers) and large shows (>100 sellers), you will have a better chance at getting what you want. At a large show, dealers will buy the junk silver and turn around and flip it by acquiring more inventory from another dealer or outright selling it to another dealer for a small profit margin. They don't want to tie up their buying funds in junk silver only to not be able to buy the coins of some old timer toting the ratty shoebox of coins with more intrinsic numismatic value. At small shows, buyers won't be inclined to pay top dollar as they know the competition on the bourse floor is small.

Your best bet is to bring only a handful of rolls (5 or so). Leave the rest locked up in the car out of sight. Scout out the bourse floor and identify the larger sellers. Also, look at what they are selling. Dealers who deal in silver bars, rounds, and a steady business of bullion are more likely to give you a price closer to spot. A dealer who specializes in early coins will have no interest in acquiring junk silver even if they can flip it for a small profit. It just isn't worth the hassle to them and isn't worth the hassle for you to waste time asking. When you identify a few dealers who are close to your expectations, approach each of them and ask if the buying price will be greater if you sell more. Get you best price, and sell.

Good luck.