Where to sell, and how to calculate

[DirtyHowi]

Where do you all sell your halves/quarters etc. I have some that grandma left me, and at anywhere from 3.2x face to 8 times face, i need the cash more than the coins

also what formula do you use to determine value based on spot price? for say 40's and 90's

 

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[Jeffro]

You can take them to a coin shop, but they will offer you spot value minus 10 percent or so. I think coolcash has a program he made to calculate the value based on the spot price, look down the list of posts in here.

I'm buying right now, too. What do you have? And how much? PM me with details-

 

[craig101]

yeah let us know here before you send them to the coin dealers. i might want some halves.

Craig

 

[DirtyHowi]

I'll dig them all out and put up a list, they were in a baggie in the bottom of a box, for how long who knows (i've moved a half dozen times cross country twice) in the last 5 years or so, and the baggie disintegrated, but i know there were a few halves, some merc dimes and a pestle of wheaties in there at one time..unsure if any is missing or not. Plan on rolling (no pun intended) that into roll hunting halves. SWMBO says i can have some money when the credit card is paid off, which should be in a month or so, i'm gonna go buy money...and hopefully make some too

 

[stoney56]

A fairly close calculation is:

spot x .724= the multiplication of face.

Example: $11.74 X .724= 8.49976 or 8.5 x face. Thus a dime is .85 cents and a quarter is about $2.12 roughly.

 

[Postalrevnant]

These are all 90%. Its a chart that I have seen posted online quite a bit. I think this is the average counting some wear of the weight in troy ounces per single coin.

Silver dollars contain 0.77344 Troy oz. silver content
Half dollars contain 0.36169 Troy oz silver content
Quarters contain 0.18084 Troy oz silver content
Dimes contain 0.0723 Troy oz silver content


Hope that helps. Umm or perhaps this is the weight before any type of circulation wear.

Anyone help me out?

Postalrevnant

 

[stoney56]

Post,

The figure above (.724) is a rough figure I used based on the weight of the coins as minted. Dealers don't weigh each coin individually, they just lump them together and add up the face value.
Silver dollars are a bit different since they have a bit more silver than dimes, qt, and halves.

Based on your figures:

Silver dollar: $11.74 X 0.77344 = $9.010856 melt value
Half dollar: 0.36169 X 2 = 0.72338
quarters: 0.18084 X 4 = 0.72336
dimes: 0.0723 X 10 = 0.7230

I just rounded the .723xxx to .724 and based the calculation on $1 face value.

This will give you at least an idea going in what your junk silver coins are worth. These figures are for most mercs, rosies, washingtons, later walkers, franklins, and 64 Kennedy's. Earlier coins (unless badly damaged) and semi-keys are different. This is just a ballpark estimate and there may be other variables to consider. Silver dollars tend to have a bit of a premium over silver melt and are bought individually or at least should be.

 

[Emperor Findus Cladius]

Remember also that is what they are worth, that is not what a dealer will pay. The best thing to do is to just call all the shops in your area to see what they currently pay. Sometimes it varies 1 to 1 1/2 times face from the lowest shop to the highest.

 

[Jeffro]

I paid 8.5 times face for some quarters and dimes yesterday. Same dealer the week before was offering 7.5 times face to buy. I also paid 12.25/ounce for silver rounds, which was a good deal. Good time to buy silver right now.

 

[Postalrevnant]

Post,

The figure above (.724) is a rough figure I used based on the weight of the coins as minted. Dealers don't weigh each coin individually, they just lump them together and add up the face value.
Silver dollars are a bit different since they have a bit more silver than dimes, qt, and halves.

Based on your figures:

Silver dollar: $11.74 X 0.77344 = $9.010856 melt value
Half dollar: 0.36169 X 2 = 0.72338
quarters: 0.18084 X 4 = 0.72336
dimes: 0.0723 X 10 = 0.7230

I just rounded the .723xxx to .724 and based the calculation on $1 face value.

This will give you at least an idea going in what your junk silver coins are worth. These figures are for most mercs, rosies, washingtons, later walkers, franklins, and 64 Kennedy's. Earlier coins (unless badly damaged) and semi-keys are different. This is just a ballpark estimate and there may be other variables to consider. Silver dollars tend to have a bit of a premium over silver melt and are bought individually or at least should be.

Yes you are correct Stoney I did realize that was a very good rough figure. Sorry if it seemed that I was showing a correction to what you had posted. That was not my intention at all. I was just posting a chart that I had found. I am still a fairly new detector at less than 6 months, so all you guys know more than I do on the subject. I did plan to mention that your figure was probably a much better one for selling common silver to collectors, I just got involved with IM chat and forgot to add the rest.

I fully agree that I would not send the silver coins for melt since you can get more for coin collectors and silver traders value. Besides I can't stand to see a silver coin get melted. I am glad you added to my post. It did need more explaination now that I went back and re-read the original post.

TY,

Postalrevnant

 

[stoney56]

TY, not a problem. 8) I wasn't offended in the least or felt that you were correcting me. This is just a calculation base figure so you'll know roughly what the melt value is. Most dealers will pay in the range of what Wayne1956 said so as to make a profit since their profit margin is pretty narrow on junk silver. You can figure if the coins are 8.5 melt, they will pay 7 to 7.5 to buy and 9 to 10X to sell.