What is a silver coins worth if the coin has no collector value?

[ashton9]

What is a silver coin's worth if the coin has no collector value?

Do you times (x)(*) the coin's denomination by 2x, 4x, 6x, ... based somehow on silver's current value? Example, what would you give me for 100 silver washington quarters, unseen by you. Is there a general rule of thumb? What if it were 100 mercury dimes?

 

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[Klaatu]

Re: What is a silver coin's worth if the coin has no collector value?

Figure 6 X face.

Silver 10? = $0.60
Silver 25? = $1.50
Silver 50? = $3.00
Silver $1 = $6.00

This is the value of the silver content of the coin. If the coins have numismatic value the price would be higher.

 

[Siegfried Schlagrule]

Re: What is a silver coin's worth if the coin has no collector value?

Silver coins of the US are 900 fine or 90% pure silver. Canadian silver in the early days was 925 fine sterling. The modern canada silver were 800 fine. To calculate you would take the spot price of silver from your newspaper on the stocks and commodities page. For ease of calculation lets say it was $5.00 That would be for 999 fine which you don't have. Your actual silver content of one ounce of 900 fine would be $4.50. A dollar of uncirculated us silver coins does not weigh an ounce troy so the standard conversion factor is 72%. So your rule of thumb figure for 900 fine silver is 72% of the spot price of silver or $3.60. This is called melt or bullion value. If any of your coins are an obsolete type like barber, seated or standing liberty they would have a value over and above the melt figure. standard retail right now for AG barbers is 10 times face value in most areas. Some places they go even higher. Your conversion factor for junk canada silver would be 64%. If you are getting more than that count your blessings. You will probably get offered less than that by a dealer because he can't pay the same amount that he charges and stay in business. Some merchants and metal detector dealers will offer more if you take it out in trade. exanimo, ss

 

[coinshooter]

Re: What is a silver coin's worth if the coin has no collector value?

I took a bunch of this silver type coinage to a coin dealer the other day. He was paying 4.7 times face value (.47 cents for a silver dime, $2.35 for a silver half, etc.), silver dollars would not fall into this same catagory since they are generally worth more.
The best thing about this is that you can get $$ for no date coins. 8)

 

[caratjuice]

Re: What is a silver coin's worth if the coin has no collector value?

That was a great answer Siegfried. I always wondered how bullion prices were figured. I got about 50 lbs of the stuff to sell but the price keeps jumping around. I think the next time silver hits $7.50, I'm cashing in.

 

[lonewolfe]

Re: What is a silver coin's worth if the coin has no collector value?

Generally between 4.5 and 5xs face for common silver coinage depending on the silver market.

.45 to .50 ea. for dimes

$2+ to $2.50 for 1/2s, etc.

This is based on silver prices as of the last yr or so,

a few yrs back it was much less, and it could very likely go that way again because typically, silver is approx. 3 to 3.5xs face during stable times, but it has risen over the last few yrs. On the other hand, it could also go much higher like in the summer of 79, and during the early 80s (man that was crazy)! $1000 face bags of silver bought in say 77 for $3000 sky rocketed to $20,000+ in 79/80/81 - people were cashing in and getting rich over night basically! There were the dummies that bought it while it was high though thinking it was going to keep going up because the end was no where in sight (but) the maket bottomed out and some people lost BIGGGG $$$$$!!!

How would you like to have been OR be one of the guys paying $20,000+ for a bag of silver hoping/betting that it was/is going up (then) wake up one day and the bottom fell/falls out, and you lose/lost $15,000 or more on 1 bag of silver!?

Older silver with readable dates goes for a little more (Barber coinage, seated/bust coinage, and Silver Dollars of any type).

Semi key and key date coins go for blue book value and more sometimes.

HH and be careful on your investments!

Lonewolfe

 

[stoney56]

Re: What is a silver coin's worth if the coin has no collector value?

Use what is in the red book.

Remember also that Red Book is an average retail price and is used for approximate appraisal for insurance purposes and is averaged overall based on prices throughout the U.S.
The Blue Book is the same but is wholesale prices averaged like the above. Most dealers use a weekly newsletter that adjusts for the up and down market prices.

 

[Monty]

Re: What is a silver coin's worth if the coin has no collector value?

I'd have to say face vallue plus whatever anyone is willing to pay. If some collector needs that particular coin to add to a collection, he/she would pay several times face value. Book values are not absolute, just averages or estimates. JIM

 

[Vrent]

Re: What is a silver coin's worth if the coin has no collector value?

That was a great answer Siegfried. I always wondered how bullion prices were figured. I got about 50 lbs of the stuff to sell but the price keeps jumping around. I think the next time silver hits $7.50, I'm cashing in.

If you have 50 pounds of scrap to turn in look in your phonebook and find a refiner not a pawn shop/ coin dealer. They will pay full bullion price, which a coin dealer will not less a handling fee, on 50 pounds of scrap. The last time I checked it was aomething like 100$ for weights over X number of ounces of gold and then percentage like .018 per ounce over 100 ounces. The diffrence bvetween what a pawnshop/coinshop dealer will pay and what a refiner will pay is quite a bit. The refiner is the person a coin dealer will sell too

 

[caratjuice]

Re: What is a silver coin's worth if the coin has no collector value?

Wow, that's an angle I never thought of. Thanks for the great tip, Vrent.

 

[Siegfried Schlagrule]

Re: What is a silver coin's worth if the coin has no collector value?

carat, During the silver rush that lonewolfe mentioned I was allowed to haul away a bunch of microfilm cassettes. They were the same size as video tapes. I couldn't sell them as is so I took them apart and sold all the blank empty cassette holders to an outfit that makes custom vcr tapes from your photographs. I think i got 45 or 50 cents each for them delivered. The loose microfilm I put in generic trash bags and filled a box truck full of them. I shopped around for a buyer and ended up getting $2.00 per pound the week before silver topped out at $85 an ounce. I could have made more money by stripping the silver from the film and selling the concentrates to a refinery but that would have taken a very long time. by the time I would have finished silver had dropped from $85 per ounce to below $10 per ounce. That same period I shipped a melted gob of silver from a fire to the refiner. They pay based on spot price the day they melt. The thing weighed 19 pounds and I shipped when silver hit $20 per ounce. When they finally melted and paid me silver had gone up to $57 an ounce. Yes I did bust the thing up to see if the coins inside were okay but they were all melted together and ruined. exanimo, ss

 

[KngFhearts]

Re: What is a silver coin's worth if the coin has no collector value?

I was at a coin dealer just yesterday, and asked the same question. The owner said if it is not a "collectable", then 4x face value.

 

[Klaatu]

Re: What is a silver coin's worth if the coin has no collector value?

Keep in mind that it depends whether you are buying or selling.