A co-worker found out I collect coins.(Only a few of them know). Anyway he told me he had a lots of dollars and dimes he wants to sell. I was kind of busy on Friday so I asked him to bring some in on Monday. He said he had a shoe box full of old dollars, so I figured them to be silver and since chucked them into shoe box, that they are probably in less than good shape. If they are just silver dollars and I should buy them, what would be a fair price per pound for him and for me to make a profit. I have never done this so i really have know idea. Of course if he has an 1889cc or a 1921 coin, etc., I will tell him. But he doesnt want to bring them to a dealer so I wouldnt mind being the middle man. What would you guys offer for them? Thanks
When you say "they are just silver dollars" there isn't enough information for anyone to give you a correct answer. Why don't you post a list and some photos of the best and worst of the lot.
If they are just melt value, I'd say give him about $12-$13 a piece, that way you guys both make out pretty good, I think that's more than he would get at a dealer. But look for the key dates first. Best of luck to you. :thumb: Phoenix
With my luck it would be a box full of Susan B dollars. If they happen to be collecable I would just record dates and conditions and research the values to make my offer. If I could not afford them, I would recomend a dealer.
He said old. He doesnt seem retarded, so I figured older than he is. I told him to bring some in on Monday. Monday hasnt happened yet so pictures are difficult. So lets say they are common Peace and Morgans at AG-G. I thought that since he doesnt want to bother going to a dealer, I would give him less than they would so that I could get more for them in return. As I wrote before I dont want to cheat the guy, but I dont want to give him more than a dealer would so that I lose money. And not a price for each but per pound for common AG-G SILVER dollars. How much would you pay per pound? Thanks.
Common doesn't necessarily mean AG to G. You're trying to justify a value before having seen the coins or really know how they will grade or what dates they are. You titled the thread junk silver before knowing whether or not it is junk silver, perhaps because you are hoping to pay a junk silver price. Get the coins, list the dates and mintmarks, post a few photos and people will be able to give you a fair price to pay.
Here's a great reference for going buy rates (this is not an endorsement for actually using APMEX, just pointing out that they publish their buy prices). http://www.apmex.com/Product/10870/Peace_Silver_Dollars_1922_1925___AU_or_Better.aspx http://www.apmex.com/Product/195/100_Face_Value_90_Silver_Coins_.aspx http://www.apmex.com/Product/12595/Morgan_Silver_Dollars_1878_1904___Good_or_Better.aspx http://www.apmex.com/Product/161/Morgan_Silver_Dollars_1878_1904___VG___VF.aspx http://www.apmex.com/Product/166/Morgan_Silver_Dollars_1878_1904___Almost_Uncirculated__.aspx http://www.apmex.com/Product/167/Morgan_Silver_Dollars_1878_1904___Uncirculated_MS_60____MS_63.aspx http://www.apmex.com/Product/159/Peace_Silver_Dollars_1922_1926___VG___XF.aspx http://www.apmex.com/Product/10870/Peace_Silver_Dollars_1922_1925___AU_or_Better.aspx http://www.apmex.com/Product/170/Peace_Silver_Dollars_1922_1925_Brilliant_Uncirculated.aspx
Cloud. Pretend the coins are all common dates and in about good to good. Ok? If they are key or rare dates, I wont include them in my purchase. Lets say he has three pounds of the sorriest SILVER dollars you ever saw come down the pike.I mean ugly. I mean you wouldnt want to trade a 1976 quarter for one of the better ugly coins this guy is toting. In bad shape is what I am saying. What would you offer this ''too lazy to go to a coin shop'' guy per pound for his money? So you can make some money and he would be satisfied. Thanks.
Most silver dollars are not AG-G (older ones). Don't buy by the pound but by the piece. You need to SEE them Common dates VF or so you may go $12. Higher grade AU-UNC maybe as high as $15. Basically talking silver value here, demand for dates and condition. Should he present you with a bunch of tougher dates start looking at Greysheet or consultiing iwth others or both. You don't want to rip him off as he may have more and can go to other sources. At current silver prices my boss pays $12 in most cases and that's fair IMHO. With silver fluctuating that can change real fast. Does any of that make sense? clembo
LOL, at least you would have more weight in copprunickel over the Susan B's!! Back to the OP, I, not being a dealler, would pay about 75% of melt for silver.
You keep talking down these coins without having seen them. If you want to low-ball the guy, then just do it. You're talking yourself into it anyway. I've never seen morgan and peace dollars sold by the pound, but you can calculate melt value as well as I can, and that's where you're heading with this train of thought. But if you're going to do it that way, it will have to be without my blessing since I'd have to see the coins and dates.
Dont worry I wouldnt drag you into my decision. You neednt commit yourself as if it would be law. If you think I am up to something sinister, well I'm not. I'm also not going to offer him more than what I could sell it for. Thanks again for your input.
