I recently was asked to look over some coins that a friend had and realized that most were common 1964 and earlier dimes, quarters, halves and 12 peace dollars. Many of the $s and $1/2s were in manila envelopes so they got real dull and almost gray/green. Not pretty. While I wasn't planning on buy anything I asked if he'd sell at a % of spot silver. I went to www.coinmelt.com and at the spot price of $24.32 I figured how much the coins were worth in silver and offered %80 of spot. The $943.52 worth of silver cost me $754.81. So, now what to do with them. I bought some Whitman coin folders and plan to fill them with the circulated coins. There were some better quality coins that are BU or AU at least that I'll keep for the albums. The rest I might sell in lots, if it's even worth the trouble and costs of ebay and paypal. So, how'd I do? Bruce
You did well and the seller did okay too. Sounds like you paid 13.5X face and that's likely as good a deal as they would have gotten taking it to a coin shop. I sell a lot of junk silver on Internet coin sites. 16X face is my current sell price for junk 90% with silver dollars being $19 min for culls. With eBay/PayPal eating 10%-12% of your gross, the 17X face you COULD get there would still make you some profit but it's not worth the hassle to me. I stick with collector to collector transactions and no fees.
I think you got a really good deal, Bruce. You could probably try selling the ones you don't plan on keeping on the open forum here.
