'junk' silver definition...

Although franklins are not expensive for collectors, unc grades do cost 2-3 times over spot at a store. For example, I see Uncs for 16 dollars when melt is at 6 or so for one. If they are in fact Uncs, I wouldn't sell them just for melt value (and you'll be offered below melt as well). If they were unc 1963s I'd get a tad over melt, if an older date like 1950, I'd expect much more like 4 or 5 over melt. That's just me though. Look up an mint state grade 60-63 on NGCs online price guide for common dates to get a feel for what they retail at. Then maybe look at a blue book or grey sheet if you can get your hands on one. An earlier unc roll of franklins is in no way junk silver. Even problem free xfs are collectible and should afford you something over melt in my opinion. Vf and below, problem ones, then melt or below. If you got common date Morgans in xf or better and do not have problems (not cleaned, no rim dings, scratches, etc), then I'd expect more than melt for those. Be carefull or you will cheat yourself of lots of money. Try and find someone who is familiar with coins, more so than you, and who is trust worthy, and then look at the coins with him. You'll learn a lot. Another idea is to flip through some basic coin books at your library or Barnes and noble. Theres even a book on what to do if you inherit coins. You don't have to buy it, but peruse it with some coffee. You sound like you got more than junk silver. Don't speed through this point you're at or you'll regret it later sometime

 

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I've been collecting coins as long as I can remember, at least since I was 5 or 6 years old. And I've been coin roll hunting since I was around 9 or 10. Up until just recently, I collected quantity over quality. And until now, I've never, ever sold any of the silver I've found. No one else I know in real life is interested even slightly in coins. Thus, while I know quite a bit in some areas of the hobby, in others I am embarrassingly ignorant. I've never had anyone to discuss it with, and I've just generally done my own thing. I now want to rectify my lack, and figure out the stuff I've been ignoring. I also want to downsize my collection, to both make it more manageable and to gain some capital to funnel into the business I have been trying to get off the ground.

Thanks for the information, and the recommendations. I'm going to check my library, and then ebay/amazon for those titles.

 

Oh, I see. That's good then that you are a collector of sorts and are therefore familiar with many things. I've been collecting consistently for the past five years. I collect mainly with quantity in mind, but I also limit most of my collections to problem free coins and care about quality in general. The first year I read a lot and enjoyed it immensely. I don't read as many books now, mostly articles and online stuff. Scott travers has some good books, like the 100 top coins or such titles. He has some good info and his books are well written and helpful for smart consumers. I also liked Alan Hubert's books, and of course David bowers. Some times when you get done reading something your collecting interests change, which is always cool. Good luck with your coin sales and future business. You're off to a good start

 

Hi gang, I'm new to this board/forum, started collecting when I had a paper route (delivered to Fred Flintstone as I recall), stopped for while and jumped back in a few years ago when I semi-retired. I've been resorting a bunch of coins, and, as far as junk is concerned, have a bunch of Morgans that are damaged. One caution I just learned about though are the potential VAMs that might be considered junk by some. I've started to look through the Morgans based on the top 100 I saw athttp://www.pcgscoinfacts.com/VAMs.aspx?vid=1 Anyone have suggestions as to whom to peddle truly damaged and junk stuff to?

 

"Junk Silver" as it pertains to coins is any coin that is headed to the smelter.

 

I've been selling similar material and more for the last ~5 years, in minimum $25 Face Value lots.

You should be able to sell any unmutilated pre-1965 90% U.S. coin with a full date/mint-mark at a NET premium, dependent upon where it's sold. The only coins I've seen as "junk" on your list, are undated S.L. quarters. I initially feed the coins through a manual coin counter, which generally catches the mutilated coins. I then stack the coins in an appropriate tube, which will rapidly allow additional culling as the undesirable coins wont stack evenly. Don't bother with holders, as most buyers just want to see general condition and count, which can be seen by stacked placement in a plastic transparent $10 worth holder. While stacking/placing the coins in a pouch you can also remove undesirable coins.

I initially tried the avenues that members of a site as this would suggest, but found that "professionals" have established numerous methods to confiscate your coins, often quite "dis-honest". I've determined that Craigslist is the best media for sales, when practicing safe transfer procedures. I'd suggest that you never ship coins to a potential buyer, unless you've been paid in advance, and you use a method assuring delivery. There are "big-time" thieves offering "consignment"!!

I've found that a discounted (i.e. <melt) sale of "Junk" on Craigslist will allow a NET sale value greater than any normally recommended. The discount amount is generally determined by "market" conditions. Currently, generally a 10% discount will sell virtually whatever 90% "junk" you've to offer.

I recommend that you limit the sales amount at any given time, to dollar-cost-average. I've often received offers to purchase "everything", but limit my sales to ~$200 Face Value/buyer.

The uncirculated 90% pre-1965 and generally pre-1916 will command a premium above normal "no junk", dependent upon condition.

JMHO