This is a discussion on Coin collectors I need some help within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; Hi I pick up junk silver now and then and I have some coins that are worth more than the silver content. Proof coins, Silver ...
I pick up junk silver now and then and I have some coins that are worth more than the silver content.
Proof coins, Silver Eagles, Morgan dollars
The thing is I don't know much about it. I would like to sell these or trade them for older junk silver
Like if I have a coin that is worth $35 going rate I would like to trade it for $35 worth of just regular
old silver coins at there going rate.
How can I go about this? Will I need to sell them then buy the junk silver or can I do it in a fair trade
in one swoop?
I'm not into anything collectible. I'm in it for the silver content.
Life time member: DAV, AMVETS, School of hard knocks.
The squirrels are watching... >_>
It is very hard to sell at "collector" price and then buy silver at the spot market price and still come out ahead. The professional dealers always get a break when buying and they always take a fee when selling. You can lose up to 20% in a straight across "trade".
Ok a Morgan weights is .855 oz and the sell for about $35 some more, some less
I need to sell them for $2.25 in old silver money any combination of older us coins pre 1965 = 1.78 oz
This would more than double my weight in silver and It would be a more than fair deal for a private collector.
Note: a silver Morgan has a silver content of about $16.26
I stayed up late and got a basic crash course on older silver money
If your going to trade better figure out the basics -
Last edited by budgetprepp-n; 07-03-2014 at 08:11 AM.
all you need to do is put them on ebay. do not sell those coins to a coin store, pawnshop they will rip you off. I sell coins on ebay and make a great deal more money than i would anywhere else. be aware of the mint marks, coin condition because these two variables make a huge difference...
edit: do not sell them all in the same lot, you will make less. piece them out. it is more work but it will pay off. take lots of pictures of every angle. make sure light is excellent on the coin surface and all landmarks are highly visible. do things like free shipping and the auction will do better.
Last edited by nightshade; 07-03-2014 at 08:20 AM.
My advice is keep what you have and go from there.
I am going to need. I think I will sell them and just buy the old silver coins.
When TSHTF In time silver will become currency (I think). And I don't think anyone will care if the 1897 Morgan has
a "o" or a "p" on the back. It's all going to be about the silver content.
So if I can sell my collectible Morgan that weights .86 oz for $35 and buy 1.79 oz of old US silver money ($2.25 worth)
I think as a prepper I would be better off.
If silver goes up (and it could) the silver content will be worth more than the Morgan as a collectible.
Just like a 1964 quarter is now. The old quarters are worth about $3.80 each due to the silver content.
Your going to wish you had sold that Morgan as a $35 collectible and bought 9 quarters and have twice the weight.
That's a preppers view.
Last edited by budgetprepp-n; 07-04-2014 at 01:33 AM.
Tell you what I have 4 silver dollar Morgans
1890 "O" --Worn but all letters and numbers are readable
1901 "O" --very nice
1900 "O" --very nice
1904 "S'--worn but all letters and numbers are readable
We can have 3rd party tell us what they are worth as collectibles
If you want to buy them using old junk silver money and use the same 3rd party to tell us what old silver coins
are worth and you will pay with silver coins--- I will jump on that.
I prefer dimes but you can use Dimes, Quarters, or Half dollars.
Or give twice there weight 1.72 oz in silver coins I will accept that also.
I'm not sure but I can check if you want but I think 1.72 oz is $2.25 in junk silver
There is a book that has values for graded coins by year and mint, don't recall the name but it is red. If you list it on ebay you will probably do a lot better than selling to a dealer, take close up good pictures of both sides and the edge of the coin, pick a low starting bid using the book as a guide, always underestimate the condition when picking a price and don't mention it, let the buyer determine the grade from good photo's.