My dad just gave me a bank bag full of mercury and Roosevelt dimes, I'm starting to look through them for coins I don't have in my collection yet, but want to sell the rest when I'm done. I sold a bag of quarters a few months ago but don't feel like I got very much from the dealer I sold them to. I sold them to the dealer for a little over the silver melt value. Does anyone have some suggestions on how to profit more from these? The coins range from AG to AU. I'll attach a pic of the bag and a few rolls. Any ideas would be greatly appreciated.
If you can get over melt from a dealer I would guess that he is seeing something in the coins that you are missing (or there are enough older AU coins where there is a profit over melt). You might want to pull out the oldest, key dates, and best condition coins to sell separately. The leftovers I would return to that same dealer and try to get melt or better again. If that doesn't work you can post here on the BST once you reach the minimum number of posts. (I would suggest reading all the rules before doing that)
Thank you. The dealer didn't even look at the quarters, he threw them in the counter and added up the total. What's the BST?
I can't think of a reason why a dealer would pay over melt for coins without seeing them. There are three subforums near the bottom, buy, sell, trade, once a member has been around a while and reached a minimum number of posts they are allowed to post in those forums. (read the rules first...)
Ah, thanks again. I think with the amount of coins I brought in he added a little to the price. It was around $10,000 he ended up paying. I pulled out many of the older coins as well as any that were AU. I still felt a little ripped off and really don't want to feel like that again with these coins. I had a friend suggest eBay, but I don't know if I'm really wanting to get in to all that.
Listing the more valuable coins on here or Ebay is good because you can ask a minimum price you will take unlike a dealer. Good thing about selling bulk like you did to a dealer is they pay you cash right there. Did you atleast search the quarters first?
That is what I thought. I know I called one place that told me they would give me $18 per dollar face when melt was $24 something.
when buying 90% silver you can usually buy it at melt any dealer that would buy it over melt i wouldnt buy from myself but sure would sell to him!!
I have been "trading" silver dimes since July, looking for better dates to keep (working on 4 Mercury Dime albums). I would not hesitate a minute to sell at spot or slightly higher. Best finds so far, pretty decent 1919-S and 1919-D. But no 1921 coins, LOL, and only one 1916 of any kind, 1916-S worn out. Based on your actions so far, I don't think you have anything to worry about.
It all depends on how much time you want to spend to try to get a better return. If you have a lot of time and want to deal with the hassle, you could list them individually on eBay. You might make a few bucks, but there's been a lot of posts lately about the horrible returns from eBay once all the fees and shipping are paid. You can go judge your possibilities by browsing eBay's completed listings for the same dimes you have, and you'll get a real quick picture of what return you'll get (again, keep in mind ebay fees and shipping). IMHO you got at least a fair, decent deal with the dealer for a little over melt for your quarters. I think the current melt is 25x face value. One of the local dealers here is paying 20-22x depending on the coins. Again, going back to time vs. return, you might have made out better financially (how much no one knows exactly) if you went through them individually for sale, but you got a quick $10k in hand, which you can't argue about. I also encourage the B/S/T section if you want to offload them. Most folks here are good about fair pricing - people are trying to complete collections and may need the exact coins you have, and others are looking at large lots of junk silver for keeping as bullion (I fall into the latter). Also, if you're looking at expanding your collection you'll find a lot of folks willing to trade so you could get a much "better" return on your dimes by trading for more pieces of your collection that way. I personally do a lot of that since I'm coin rich, and cash poor...
You got a very good deal to get silver over melt from a dealer. I sell mine right about melt (I set up as a dealer at coin shows sometimes) and I sometimes even sell slightly below melt to customers. I would be thrilled for a dealer to buy over melt from me! You got a terrific deal
Thank you everyone for the input much appetciated. I'm about sick of going through dimes at this point, anyone wanna help?!
