Can you guys help me know what to expect here? One local dealer is offering 11.85 x face on pre-1964 silver coins. So here's my problem: Each of these stacks contain $10 worth of quarters. Is he really going to treat these tubes the same? Do you think he will he count the face value of these coins or will he probably count them by weight? I just want to know what to expect so I don't get snookered when I go in the sell. Thanks for any help!
First off, they buy/sell silver by weight, not the height of the stack. If you weigh the coins, I will bet you find very little difference in weight. Most of the metal gets pushed around, not disappearing. If you search right, there is a thread posted here where they discuss this.
Since he purchases them in multiples of face value that's what I would sell them for. If he changes his stance...sell somewhere else.
thanks rlm, that's the info I was looking for... (sorry I didn't search first) Alright, I did weigh the stacks... the AU stack came in at 252 grams, the well worn stack came in at 246. A difference of 1 coin. (Much better than the height difference of about 8 coins!!!) Coolest thing I learned today: the silver doesn't scrape off so much as just move around.
Most coin shops I've been to separate the coins by denomination and then run them through a counter and go from there. If thats all you have I don't see why he just wouldn't count them, unless he's ultra lazy. Guy~
nope, not all I have, just two representative stacks. If he runs them through a coin counter, that makes sense. Thanks, everybody!
Melt is running right around $3.33 per for pre 64' quarters right now so anything around there for an offer would be fair,remember the dealer needs a cut.
Thanks for that heads up, funami. I got no problem giving the dealer his profit. I figure I'm paying for the convenience of dropping everything off at once.
