I was looking to sell some silver. What would be a fair price for a roll of silver quarters? I called my local coin shop, and they said they would give me $370. I’m I crazy for thinking this is really low, or is this to be expected?
Fair is a price where both parties feel good about the transaction. https://www.usacoinbook.com/coins/2054/quarters/washington/1940-D/ Checking this site $11.89 melt so figure the percentage you would be good with under that number.
I don’t know much about selling junk silver; I was just surprised that they quoted me $105.00 under spot. I guess my real question is, is this the norm for junk silver?
That seems a bit too low for my blood. I know a brick and mortar shop has to buy low and sell high because of overhead but that's pretty steep considering I'm seeing rolls of circulated 90% selling at close to or just below melt on ebay.
There is a roll of silver quarters listed on eBay with a bid of $360. Less than 22 hours left. When it closes you can figure the seller is giving up 13% in sellers fees. Sold listing on eBay are a good way to check the market price.
Yeah, that's a pretty steep discount. Not sure you'll do much better selling locally, though - everybody's spooked in a market like this. The only big online bullion dealer where I can find buy prices is Money Metals. Right now (geeze, is silver really over $66/oz?!!?), they're selling mixed quarters and dimes for 46.9x FV (which is below melt), and buying back at 40.82xFV. So you'd get $38.20 more for a roll if you sold to them - but you'd also have to deal with shipping, and paperwork/paper trail. And I'm really struggling to post a statement that "37xFV is low", but that's because I'm very old, and I remember what it was like way back in the... um, this past summer?
Sell on facebook….I predict with the higher prices junk is going to start acting more like fractional gold and demand a premium. It’s going to be the only way some people will be able to afford precious metals.
Current melt price for silver Washington quarter is $11.9504 (as of 5 min. ago). The current time is 2:08 am EST. 40 silver quarters (1 roll/$10.00) fetches $478. If you sell this way you avoid shipping and insurance costs, but you will have to abide with the discount. All brick and mortar shops apply discounts so they can stay in business, but some discounts are too much. You will have to decide how much of a discount is too much, and if you feel it is too much…walk away. Find a better option.
Alot of dealers don't even by junk silver anymore and if they do the prices are so low it makes you feel like up-chucking your last meal...LOL
We keep talking about "junk silver" here, guys, but at these prices were playing in an expensive junk yard. No such animal anymore. Bruce
