There is a coin store in town offering to buy silver dimes at a minimum price of $1.10 each. Since many years ago, while I was out of town, my wife "cleaned" (what I then thought) all my dimes with bleach, I thought that I would ask if this might be the only thing to do with them. After soaking in olive oil (don't ask) for 30yrs they were totally black but after 3-4yrs in a leather coin purse, the black has started to flake off. I also found a coin album with other dimes that have not been "cleaned" with the bleach. The dimes range in date from 1917 thru 1954. All the dimes, even the bleached ones, the dates & mint marks are readable. So what do you think, should I just sell them for the $1.10 each?
Based on the current price of $17.96/oz., the melt value is $1.30. So, he's offering about 15% back of bid which isn't too bad. While you,re at it, see if you can sell the wife. Just kidding! I'm sure she meant well. Chris
This is a tough one. I would keep any key dates or any nice ones. I would try dipping one of the worst ones as a test. The most a dealer has paid me for common dimes is $1.20 each. So yes, if you want to be rid of them quickly let them go for the $1.10 ea.
If there are no key or semi-key dates in there, I would say you are getting a fair price. You may be able to get more from a private party looking for an investment, but this way is by far the safest and easiest way to cash in.
11x face isn't too bad. Do you have a coinclub in your area? If so, and they have an auction, you may be able to sell them there for pretty close to melt (13x face). But it seems like he is offering a fair price for a dealer.
First of all you didn't mention if Liberty Heads, Mercury Dimes, Roosevelt Dimes or even Sitting Liberty ones. Could make all the difference in the world. Example is almost any Sitting Liberty Dimes are about $15 in G4. Almost any Liberty Heads are a minimum of about $2 to $5 in G4. Mercury Dimes too are possibly in a decent range even in G4. If any key dates of all those they could be worth lots more. And don't forget error coins. However, if all Roosevelt Dimes and barely G4, Sell, Sell, Sellllllllllllllll.
AS you can probably tell, I am not very well versed in coin collecting jargon; what are key dates? I also found a 1913 dime. If anyone would like to take the time to list some "key dates", & if I have them, they are yours for the asking, & then you can decide if they can enhance your collection. Lee
I may sell the screwed up looking ones but you may be able to get more on ebay. I really dislike selling coins to coin dealers. To me they are the last resort! Only b/c they have to make a living too and because they have overhead to take care of will pay accordingly. That means, they will pay below spot!
i would sell the damaged coins and who knows you may get enough cash to replace a few of the damaged ones with some upgraded dimes.:mouth:
Just grab yourself a price list, and note the lowest priced dates/ mintmarks. Anything that is two to five times that value is generally speaking a semi-key date. Anything that is five times face ar greater would be considered a key date in my book. People may have different rules regarding this, but it's my rule or thumb.
Keep the dimes. You will need proof some day to help validate such an unfortunate story about cleaning and storage. Now, do tell us about the olive oil. I got the bleach part, but not the olive oil. Thanks, and know that I vote for "keeping those poor darn old dimes." They are worth at least 5 bucks a piece as tokens of your love for your wife.
I don't think you (all) understand. I would rather give the coins to a collector than see them melted down. I am not interested in a monetary gain from them. I (mistakenly) thought that if I mentioned the $1.10 per coin that it would gain your interest. For this I apologize. The great majority of the coins that have not been "cleaned", the date is legible, and, as I said before, are free for the asking. Again, I apologize, Lee
The problem here is almost anyone could state they are a collector and need those for thier collections. Then just turn around and melt them for the Silver. You'ld never know. There are many, many people out there melting Silver, Copper, coins all the time. Many more are selling them to Jewlers that also melt them down, not the Copper ones though. Metal recyclers take them in all the time for just the metal. A Jewler can sell a Silver charm for a bracklet for many times what some coins are worth.
