How much are dealers paying for circulated Morgans and Peace dollars?

I'm thinking about thinning my inventory. Both of my safe deposit box boxes are full, I really only want to keep my graded Morgan collection in my home safe. This is all overflow at home. I got an offer from my LCS for $23 per coin, I wanted to unload 6 20 count coin tubes. (120 coins if that's not clear). These coins range from F through XF40 for the most part, they are not culls nor are they beauties, just circulated common dates, mostly Peace dollars. I wasn't impressed with that price at all. I told them I'd think about it. Thinking about joining my local coin club to see if there are some hoarders that would be interested in getting a good price but with about a $5 premium for the silver dollars over melt. They are pretty easy to sell online for about 35/per individually but it's a pain in the ass. Thoughts from our hoarder/stacker community?

 

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About the same price from my LCS. He doesn’t look at them when he buys. He just offers cull or junk pricing on them. He looks at them before putting them out for sale.

 

That's good information. I'm quite sure some stacker would like them between what the LCS sells them for ($33) and melt of $23. A happy compromise I'd think?

 

I would think so but I have been known to think wrong. Lol

 

Me too. It would also let me step up my game and upgrade my passion, my Morgan collection. One day I'd like to have an entirely MS graded collection (except for the exceptionally hard key dates). Not sure I'll ever own a 1893S in any condition than AG.

 

bout the same here. but to be honest you can probably get twice that on ebay selling them as rolls

 

Can you be more specific? I'm not sure what you mean. Sell coin rolls of 20 for 960 a roll? That wouldn't fly would it? That's 46 a coin. Silver dollar coins sell daily for 30-35 a piece on the flea plus shipping. I think I don't understand what you meant. Explain it to me like I'm five. It would be nice to sell them per roll for sure.

 

My local shop pays about $23. For Silver Eagles they give about $30.

 

I’m looking for that coin myself. I also need one other, a 1885-CC. One’s expensive, the other is a killer.

 

These are culls selling for 560 a roll (492 of em sold at that). I don't think you would have much of a problem getting 900 for for a roll at auction listed as you mention "f10-xf40" now if you want to sell them BIN like the below listing (from ebay) you might have to ask a lower price say like 750 but that still beats the hell out of $23 each

 

Wow. I'm shocked! Thanks.

 

As a dealer, I pay $25 each for them. Generally I can get $30 out of a single coin, and $27.50 each for 10 or more. Not too much profit, but a very popular item nonetheless.

 

You Try selling any in the.................. FOR SALE FORUM.......ON HERE

 

Never considered it. Site owner warns everyone it's not safe for either buyers or sellers.

 

Its not that it’s not safe, the forum has NO responsibility for buyers or sellers. The transaction as a seller is strictly your responsibility. The buyer assumes the same for what they receive.

 

Not safe and No responsibility got it.............. have bought 30 or forty times on there since 2012 and never had a problem... It could happen on any Forum that sales products. Most the people on here are pretty straightforward and there is a few that's not. I have never encountered one just yet and when I do I cross that bridge when I come to it. probably get a warning or walking papers, or both. Oh Well, life moves on... They say you can't win them all.. I say why not?

 

You shouldn't get a warning if you take the problem directly to the seller. Correct me if I'm wrong, but you'd have to do something pretty bad to get banned on this site.

 

Given the number of "circulated" Chinese counterfeits that are on the market, buying Morgan Dollars without looking at them with some care is a very dangerous policy.

 

So true. I had a friend who picked up a 35-piece lot of Morgan's and he asked me to look at them and over half of them were bogus.

 

I was in a shop the other day when someone came in with about 30 Morgans. The shop owner started with a magnet before even looking at the dates. Only a few of them were real. He said he sees a lot of fakes.