I just returned from another coin show where the majority of items for sale seemed to be slabbed Morgans and gold. Gone are the dealers with the big binders or red boxes of coins. I couldn't even find anyone selling silver American Eagles except for the dealer who sold them graded and slabbed (starting at $85.) I had taken along some coins to sell--Morgan and Peace dollars--nice, but not uncirculated. I was told by more than one dealer that anything less than MS60 is "junk silver" and only worth spot. Now that the local coin store has closed down, I guess my only option is eBay.
Coin shows are a way for dealers to earn a living. Therefore they take things to the shows that will give them enough profit to do that. And the first thing they need to do is earn enough to cover their table fee, transportation costs and any other fees associated with being at the show. Once they get that covered then life's basic needs are next. Selling coins with a profit margin of a $5 or less is highly unlikely to do that unless you can sell LOTS of them.
There were investor types at coin shows (Blue sheets in hand) I was going to in the late 90's. It was entertaining though sometimes to listen to them talking to dealers: "Do you have any double minted proof likes?"////// "You mean dimples?"
Ebay is not the only option - there are good online dealers also. Plus heritage, Stacks Bowers, great collections and probably another few I forgot about.
I don't know what coin shows you are going to, but those that I do are heavily populated with collectors.
I agree. Maybe find a new show? Btw, did you ask the dealers what you were looking for? Many times they have limited table space, but much more behind them. Regarding dealers talking down about your silver dollars, I have no excuse for that. Dealers need to remember everyone works on their own budget, but are proud of the coins they own. There are still some dealers I remember who looked down at me when I could only afford $40 coins, and now that I can afford.much more still will not buy from them. These dealers with poor attitudes eventually pay for it, trust me.
It seems the coin shows you are attending are not coin club sponsored shows. Coin club sponsored shows are usually loaded with dealers with the type of inventory that you are looking for.
But did they really speak down about the dollars.... I suppose this could be a touchy situation, but as written, I do not think it an unreasonable statement. Perhaps this is a case of "junk silver", while an acceptable term, coming off as being unnecessarily harsh. We both know that not all coins that fall into this category are actual "junk" even though their value is based upon just that. While I've no doubt that the OP's coins were quite nice, I cannot blame the dealer for being unwilling to pay a premium for the simple fact that their customers may not be willing to pay a premium either. I've both bought and sold many a nice circ for the same price as the lesser examples sitting right next to them, and this, at least in more recent times, is simply part of the game that can benefit collectors when buying, but not so much when it comes time to sell.
But when has any silver dollar sold for melt? I have been around in the late 70'S before the runup, the early 80's, the 90'S when I was buying junk silver at 3.3 times face. Never during any of this time, save for early 1980, did the value of a silver dollar ever be melt. When I was paying 3.30 for two halves, a silver dollar was still 6 or 7 at a minimum unless it was a very worn 1922 or damaged. So, to me, saying any undamaged silver dollar is junk iS wrong unless they said "junk silver dollar". Maybe that is what they meant.
You can sell on here as well. Peace and Morgans seem to be going for a minimum of $20-$25 at the moment even if in very poor shape.
Amen my dislike and boycott of feebay is well known and I've put together a pretty decent collection from the above sources and have both bought and sold some very nice coins on ct both from the classifieds and the dealers here this site has a lot to offer both knowledge and coins to buy/ sell
Then I would have been asking to see their silver under MS60 and paying them spot for it. I bet they wouldn't have sold anything at spot, regardless of what they said.
You're right, and perhaps I should have clarified the dollar premium with a collectible premium, even if the former is usually based upon melt, or at least it has in more recent times. I too remember and sometimes miss the larger (percentage-wise) premiums, and do agree that "junk silver dollar" would be a better and less harsh-sounding term, but the point still stands both as an example of expectations and of why it's important to make sure the person you're speaking to understands what you're trying to say. Of course the guy on the other side of the table should buy and sell at the same price, right? I too bet that he wouldn't have sold anything at spot, but asking to see what he does have along the same lines and only then passing judgement would be a better move than simply assuming the guy is a crook.
I was only going by what the OP said, which is the dealers said "anything under MS60 is only worth spot". Therefore, if it's worth spot and he's trying to sell it above what it's worth in his own words, he is a ripping people off. It may not really be the case, but according to his own philosophy, he's being dishonest with buyers and himself.
