I collect silver coins for bullion. I do separate them--Mercurys, Franklins, etc. When I need some cash, I'll grab a roll of Kennedy's or Roosevelt's. I like to hang onto my older stuff. Yesterday I went to my dealer/family friend with a roll of Walker halves. He is a little further than the other dealers in my area, but he is very fair with me. I don't have to worry about getting ripped off by him. In fact, he gives me and my family better deals than most. When I took my roll of Walkers (these were nothing special, just bullion to me) to him, I asked if the older stuff commanded a higher price than Kennedy halves. He said silver prices being what they are today, they all go in the scrap bucket. Is this normal? I know I would have to pay more for a roll of Walkers than a roll of Kennedy's. He gave me 130.00 for the roll, which was only a couple bucks less than what the melt value. But like I said, he always gives my family great deals. I'm not complaining. I'm working on selling coins as a side job and I want to know if this is the way it is done when buying older rolls. Since I was getting such a good price every time I go in there, maybe I was getting Walker scrap prices. Here's my question, when dealers buy a quantity of scrap, do they pay more for the Walkers and Mercury's than the Kennedy's and the Roosevelt's, or is it all the same?
I can't answer your question because I'm not a dealer. But if you plan to sell coins, bullion is probably a bad choice because the margins are too low to make it your primary business.
My experience is .... ... they are all just the same and dealers I trade with pay only for the scrap value. They may or may not literally get melted but that's their worth, scrap. Walker, Franklin, Kennedy alike. Perhaps Barbers command a tad more but considering their usual condition, mostly. It's dubbed junk silver for a reason. It matters not to the junkyard if that wreck you towed in is a Ferrari or a Ford, it's just scrap metal.
I think dealers prefer Franklins and Walkers to Kennedy's because they don't want to have to look at the date. For this reason, you might get a little more for the Franklins an Walkers then you do Kennedy's, but it isn't very significant.
Like all silver type coins from the 20th century, value depends upon the grade. If they are AU or better there is a significant premium. If they are AG to F, or spotted, damaged, etc., then I agree they are just bullion. That's why its called junk silver.
