I bought a “lot” of silver quarters at the flea market today 25 liberty and 4 washingtons I realize they are all well circulated, but I wanted some for my growing collection. I haggled him down to $90 for everything seen in photo. I estimated that the price I paid is close to melt value. They weigh 6.1 oz not including the 1958 set. Did I get screwed? All dates are readable. There are 6 1928 (2 s ) 10 1929 1. S 3. 1926. 1 S 3 1925 2 1930 1 1927 Yep
There's almost $95 just in silver value. Plus a free 1958-D nickel and penny. At a glance I'm not seeing any rare dates, but if it's something you like/want and got it below spot, it sounds like a good deal. You are probably not going to need that $90 to live on. You can enjoy these coins for 20 years. There's no price for that.
You did fine. I would have bought them as well. Did you leave them your phone number? The next lot could be a grand slam.
Not counting the year set you have 19 silver Quarters. Rough math comes to $95.00 or $5.00 per Quarter, then through in the Year set. You did good grasshopper!
There ar 29 silver quarters . I think you missed the 6. 1928’s in the list. And the 4 washingtons are silver too. What is that formula you use for figuring silver value out. I guessed using 6.1 ozs. At 90 percent. Thank you all for your input here! I’m relieved to know I did ok. $90 for 29 quarters seems like a lot to me.
He said next week he’ll bring me a tube of 10 franklin halves that he. Wants 120 for. What do you think. ? Good deal?
That is a little more than I would want to pay for circulated Franklins. I would be closer to $60.00 for ten... If they are circulated halves.
Thank you Randy. The guy is not a coin collector. seems to be more into Jewelry (gold and Silver) the coins were all in a baggie in his case. He has a baggie full of Merc dimes and other loose standing liberty quarters. his pricing for silver coins is Face value x 12. Which I never heard of before. he said he could scrap at 12.6 . he will deal a little......but pretty solid for the most part.
I missed the 6 at the top. Hot and humid here. No air so I'm melting. 95-97 and high humidity. It is summer and temps are expected to back down to a more normal range in the eighties. That makes your buy even better and puts you at about $3.10 just for the Quarters. Well below melt.
A quarter contains .18084 ounces of silver. Take the weight and do the math with the current price. For halves, they have .36169 ounces of silver. Circulated Franklins are common with only a few exceptions. If the tube contains 10 coins that's 3.6169 total ounces and at it's current price of $16.18 all 10 would be worth $58.52 for the silver. A tube normally holds 20 coins so if a full tube he would be at spot st $120. You can look at them and always bargain but be sure to take extra cash. He may decide to show up with extra coins and you don't want to be short on cash.
That arithmetic is actually solid and in line with what the silver value is right now. Silver constantly changes in value and at the moment a 12 X face value is a good figure.
Here's a good tool for establishing melt value: http://www.coinflation.com/coins/silver_coin_calculator.html
I love that website but I have a devil of a time making it work well on my phone..... I am sure that can be traced to operator error though.
Thank you folks! I appreciate all the advice, and especially the formulas and calculations! I feel better prepared.!