Hello Everyone, just joined the forum in order to ask a couple questions of you nice folks. My knowledge of coins is minimal, to say the least. I've been investigating online, and reading different forums and such, and it seemed to be unanimous for a person to buy, or acquire a Red book in which to get a grasp of the value or prices of the coins. I drove over to Barnes and Nobles, but that book was out of stock. . I ended up buying two books that are not very much help, or maybe I just don't know how to read them right. One of them is "The US Coin Digest", says its the complete guide to current market values. Anyway, to get to the point of the matter, I have quite a few Morgan and Peace dollars and some other coins I am getting ready to sell, and would like your opinions or advice on them. Because time is of the essence, I do not want to sell them on Ebay, haven't had much luck with them anyway, selling other things. I guess the main question I have for you folks is what the coins I do have would be worth, bottom line. I just don't want to get taken for a fool, and sell them way below what I could have got for them. I'll post pictures if needed, they all seem to be in very good condition. Here are a couple pictures of the Morgan's, and I will put a complete list of what I have after these pictures http://i229.photobucket.com/albums/ee272/lktknow/coin5.jpg 1921 http://i229.photobucket.com/albums/ee272/lktknow/coin2.jpg 1889 http://i229.photobucket.com/albums/ee272/lktknow/coin1.jpg 1908 1/2 dollar http://i229.photobucket.com/albums/ee272/lktknow/coin4.jpg I have 30 1923 S Peace Dollars 6 1923 Peace Dollars Morgan I have 1885 1886 1879 1881 1889 1890 1897 1896 1884 1891 1900 1921 1921S Peace Dollars 8 1926 S 1926 10 1925 4 1935 2 1927 1924 1926 1921 S 1905 Indian Head 9 Kennedy Half dollars 3 Franklin 1.2 dollars 1901 1/2 dollar 2 1915 S 1904 1/2 dollar 1 1912 quarter plus I have quite a few Canadian coins that vary in dates any help you could give me will be much appreciated.
First, Welcome to the forum. Second, unless someone has more up to date prices, the Morgan and Peace $'s are all about $14 to $15 each. There are no better dates that I noticed. The Barber half dollar is a VG 1908 D, and is about $10 (bid). Not a better date The other coins: The JFK: It depends on the dates, the 1964's are worth melt, currently about 12+ times face. 1965 to 1969 about 4 (?) times face (I may be off on the melt for clad silver. Clad coins not much. 1901 1/2 dollar: Depends on grade. same for the 1904 and 1915 S, and the Indian cent and 1/4 dollar (1912).
Thank you so much the other Frank, for the reply and the welcome. I probably shouldn't have been so long winded in my post, I could have said what I truly wanted to know in much lesser words, I suppose. When you said the Morgan's and the Peace dollars are all worth $14 to $15 each, I need to ask a question about that. I apologize for my ignorance in this matter. But, I'm trying to get a grasp of what a dealer is going to say when I walk in with the coins. I'm sure they are going to try to get them for as little money as possible, because that is business, plus, I'm also pretty positive a lot of them just won't want them at all, because they seem to be fairly common dates, with nothing outstanding as far as that goes. I've heard talk of "melt" price, which to me, means the bottom line of a price on a silver coin. I'm pretty sure to a collector, it would be a crime to sell a nice specimen of a certain coin to a dealer for melt price. am I somewhat right on that? Hypothetically, if I were to walk into a dealer, and he offered me say $9 a piece for all the silver dollars I have, would that be a fair price? or what would? what would be the bottom line of a fair price for silver dollars sold at a dealer? Thank you again Frank for your reply. The more I am investigating, and seeing the beauty in some of these coins, I may just take up collecting and keep them, rather than have "sellers remorse" at a later date. lol
Don't accept less then melt for your coins... it really bugs me when dealers offer you book prices that are much lower then melt, "because that's what their worth". Nonsense. If you really want to sell them and you get offered less then melt, PM me and I'LL give you melt for them myself!
Like Frank said, a dealer will probably offer you about 13 times face value for the silver coins. You'd fare much better if you sold them yourself on E-Bay. Or, you could look at completed E-Bay auctions and see what similar coins have sold for. This would give you a more realistic value of your collection. Who knows, you might decide to keep what you have and add to it.
It's the bullion spot price for the ASW (actual silver weight) of the coin. A Morgan or Peace dollar is 26.73g of 90% pure (.900) silver, so its ASW is computed as 26.73 x .9 = 24.057. Bullion prices are quoted in troy ounces, which are equal to 31.06g, so 24.057 ÷ 31.06 = .7745 tr oz. If the spot price of silver were $20 at the time of sale, the coin would have a "melt" value of $15.49. Most dealers would discount that by 10-20%, for a final buy price of $12.39-13.94. (Although copper prices are high, the 10% copper content adds nothing to the bullion price.)
thank you all so much for the replys, it is so nice of you to take the time to help someone. I'm thinking you may be right about selling them here in the forum, or just keeping them and becoming a collector, especially after you read the following....... Well, I went out today with my 30 1923 S Peace Dollars, with the intentions of finding a coin dealer I felt comfortable with dealing face to face. I had a couple locations in mind, having seen them at different times through my travels. One of them, was an empty building when I got there, the other one was a dentist's office. So, I told myself, no problem, I'll just find another one, I see them all the time. I went from the mountains to the beach, and did not find one coin dealer. Oh, I found one, but it was closed, this was at 1 in the afternoon. Course I was driving and trying to look at the same time, soooo. You wouldn't believe the amount of times I made u-turns because I saw a giant COIN, only to discover it was a COIN laundry. I don't know if I was just missing them, or if the Internet has really taken over the business. perhaps it's a combination of both?? Tonight, I think I'll look up coin dealer locations and call in the morning to see if they are actually at the location, and their hours, should have done that today, half a tank of gas too late...lol
Well, I dont know where you live.... but google up your local coin shows... It could save you a bunch of long drives to different places and you could compare prices offered by different dealers quickly... most even have it clearly posted how much they offer for certain common coins...
Here's a site to find out what the melt value for coins are, all prices are updated daily M-F http://www.coinflation.com/silver_coin_values.html
Thank you for the link to the melt prices. I went to a coin dealer today, all I took was the 30 1923 S Peace dollars, and a bag of quarters, that I had gone through, and there was nothing of importance in there, as far as I know. Oh, and I had 8 1923 Peace dollars also. and two Walking Liberty Dollars. I came away with $1200, so, I was satisfied to a degree. I don't know how he figured but the bag of quarters was two hundred and six dollars, sooo?? He gave me 40 for the two walking Liberty's. And I think it came out to almost 25 a piece for the Peace dollars. While I was there , I purchased a Red book, and when the guy was figuring out everything, I was thumbing through it, and I didn't really want to stop the process in the middle of the deal, but I was noticing some of the prices for the Peace dollars, even in just VG condition. It doesn't happen often, but I needed some quick cash. I truly do not want to have sellers remorse, so, what's done is done. I didn't sell any of the Morgan's. I do think I will hang on to the rest of the coins I have, which I have quite a few. Plus I have a lot of foreign coins I need to investigate. Thank you all again for your help, and you will most likely be hearing more from me. I'm going to check out the coin shows in the area also.
