If I walked into a coin shop

how much should I expect to be offered for a 1996 ASE MS70?

 

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Probably not as much as you paid for it even if it is one that you submitted for grading yourself.

Chris

 

I thought this was the start of a joke thread, along the lines of "This guy walks into a bar ..." ...

 

Depends, what would that same dealer sell that coin for?

 

I would have to say that if you get an offer of over $70 your probably doing ok.

 

What grading company graded it?

 

ngc

 

NGC is a real grading company so you should do better selling on Ebay and i would not sell it to a coin dealer unless you find out what it is worth.

 

When you offer a coin for sale, you should be prepared to quote a price, not ask for an offer. And if you don't have a pretty darned good idrea as to its value, it is best not to offer it for sale, until such time as you figure it out.

 

Great advice Mark. Everyone should mark this one down. If the dealer does not think you know the value, do you really think he is going to offer you his top price? He has bills to pay too.

 

It really depends if the coin shop you go to sells alot of modern coinage. Take it to a pre-65 store and they may offer you only $35. Gots to go where the demand is the highest!!

 

I agree with Mark. Know what the coin is worth and then just get a quote from the shop. At my local shop I can just ask - what would you pay for a NGC MS69 1996 silver eagle. Of course I am a regular at my local shop.

 

Totally agree with Luke. It's in a slab from NGC. You are going to get more for it on an EBay open auction than if you take it to a dealer.
If you're afraid you might lose money, set a reserve. That coin will generate a lot of interest on EBay though, it's the key date in MS70 slabbed by a reputable TPG.

 

I usually offer them 97% of melt on ASE's slabbed or raw.

 

Interesting responses and many good points.

KNOW what you want for it is indeed good advice.

If you are an established seller on ebay then do the research there and factor in your fees. Expect less than that from a shop.

If you walk into the shop I work at the first thing I'll be doing is looking at past ebay auctions and NGC population reports. Then the boss will make you an offer and factor in ebay costs because most likely that's where the modern MS70 stuff will end up.

Realize that when you walk into a shop with slabbed bullion it's not terribly exciting to a dealer in most cases. It's not like other dealers are beating the doors down looking for it and dealers sell amongst themselves a lot.
Same with customers. We don't have people walk in on a regular basis looking for this stuff.
In short it can turn into idle inventory real fast and ebay is the quick outlet.

The real answer to the question is there is no answer. Depends on what shop you walk into and a bunch of other variables. It's an ounce of silver encased in plastic with a high number after all.

 

Not sure about the shops in your area, but the shops here for the past two years have paid 5% below the day's spot for non-numismatic silver and gold bullion, and not a penny more. The stuff isn't moving for them. More comes in than goes out so they end up taking most to the refiners where they get about 1-2% under spot, which is why grade is irrelevant on these coins. If you don't need the money now I'd hold off selling until you could sell to a collector and get a better price.
Guy

 

Ah, the proverbial "reality check".......

 

So do you also sell all your ASE's at the same price slabbed or raw?

 

I"m guessing that he would not for a 70.
He is not the only one that pay's back for a graded ASE.
They are pretty much bullion.

 

Good advice, but here there are only 2 dealers that service our entire area. And I imagine there are lots of places that only have one. Hard to shop around when there isn't any competetion.