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Message:: [QUOTE="Blaubart, post: 1696939, member: 37498"]Dealers have various buy/sell spreads they try to adhere to in an effort to earn a profit.  The buy/sell margin is usually higher for collectible coins than it is for bullion coins. Here's an example for a collectible coin like yours: You walk into a dealer with an XF 1915D Barber quarter.  Assuming the dealer isn't actively seeking that coin, he might offer you 60% of what an EF1915D Barber quarter might fetch.  That way, if he's wrong on the grade, he's still going to earn some money. For a bullion coin, the spread is usually much smaller because there's generally less risk involved for the dealer.  If the melt value of your coin is $4.36, he might offer 10% under spot for it, or $3.92.  Or maybe he's got a lot of people willing to buy 90% silver above spot, so he might be willing to pay spot for your coin.  Or maybe he'll buy it for 10% under spot and sell it for 10% over spot.  It all depends on the dealer and his market. But, sometimes the two meet as in your situation.  The highest price he's willing to pay for your particular coin just so happens to be based on his bullion coin pricing, and not his collectible coin pricing.  Or maybe he just threw a low price out there, but he's willing to haggle a little. Whatever the case may be, welcome to CoinTalk and good luck.  :thumb:[/QUOTE]