hi, we came into possession of roughly, at spot value, a little over $5000 in coin this weekend. It consistes or all circulated Rosies, Mercs,barber dimes, Standing LIberty and Franklin Halfs 2 rolls of war nickels and a few rolls of 1930's washingtons and Barber and Standing liberty quarters. I have never dealt with this much silver and I would like to know what I need to know going in to sell so I do not get taken. When I sold some rounds and bars last year the dear said he paid spot minus $2, not sure if it is different when dealing with silver coins. Any help is greatly appreciated.
Call APMEX and ask them if they will buy it. They are very fair, you'll have to ship it Registered RRR but it's worth it.
If you're dealing in Eagles, sell to Kitco.com. They offer above spot for Eagles and Maples. As for the coins, try craigslist. People will pay in cash, so you get to keep a bit more of your money (no eBay/paypal fees). I'm sure you're best off trying to sell the Barbers to a legitimate dealer or maybe even a fellow collector. They seem to book for a significant premium over spot.
Last time I sold to a dealer (silver was around $24 per oz.), he paid spot on 1 ounce rounds. He paid $0.50 under spot for a ten ounce bar. $2 under seems like a bad deal.
After doing the math I concur that the (715/1000 * spot * [face value of 90% silver coin]) formula I saw in another thread is on par with (spot * [silver oz in the coin]) based on the weights listed in my Red Book - about 1% higher on average. At the going rate of $38.70 (WOW!) it comes out to around 27.5x face value for intrinsic value. I would imagine you will probably need to come down slightly from there to get most people to bite. Personally I would compare all of those coins against a red book just to make sure there aren't some low mintage ones that might be worth more than spot. I'd be interested in taking some off your hands too!
Here's Apmex's current buy/sell: http://www.apmex.com/APMEXTop40/Default.aspx They are over 27 X face. But why the hurry to sell? My guess is this rocket will keep soaring. Everytime I sell the price goes higher.
