I needed a little cash today, so I decided to sell a roll of '64 Kennedy halves. Well, I know a friend of a friend of a relative that's into the "We buy gold" business. I called him. After our how've you been--how's the family talk, I told him I wanted to sell some silver. He told me "for me" $11 on the dollar. When I got there, I gave him the roll. He asked me "Is that all you got?", and then he gave me actual actual price for silver, which was 17.01 at the time. He gave me what the roll was worth--123.05. He ended up giving me 125 bucks!!! What a guy!!!
It got me thinking. I rarely sell my coins, so I don't know the ropes.
1. At 17 bucks an ounce, was 11 dollars a good "for me" price?
2. Where does it go from there? Apparently he buys low and sells high. Can the average joe sell it to the same guy the dealers are selling it to?
3. Who eventually ends up getting the full price for silver.
You guys know a lot more than I know.
(I didn't want to ask him)