I was looking to sell some silver. What would be a fair price for a roll of silver quarters? I called my local coin shop, and they said they would give me $370. I’m I crazy for thinking this is really low, or is this to be expected?
Fair is a price where both parties feel good about the transaction. https://www.usacoinbook.com/coins/2054/quarters/washington/1940-D/ Checking this site $11.89 melt so figure the percentage you would be good with under that number.
I don’t know much about selling junk silver; I was just surprised that they quoted me $105.00 under spot. I guess my real question is, is this the norm for junk silver?
That seems a bit too low for my blood. I know a brick and mortar shop has to buy low and sell high because of overhead but that's pretty steep considering I'm seeing rolls of circulated 90% selling at close to or just below melt on ebay.
There is a roll of silver quarters listed on eBay with a bid of $360. Less than 22 hours left. When it closes you can figure the seller is giving up 13% in sellers fees. Sold listing on eBay are a good way to check the market price.
Yeah, that's a pretty steep discount. Not sure you'll do much better selling locally, though - everybody's spooked in a market like this. The only big online bullion dealer where I can find buy prices is Money Metals. Right now (geeze, is silver really over $66/oz?!!?), they're selling mixed quarters and dimes for 46.9x FV (which is below melt), and buying back at 40.82xFV. So you'd get $38.20 more for a roll if you sold to them - but you'd also have to deal with shipping, and paperwork/paper trail. And I'm really struggling to post a statement that "37xFV is low", but that's because I'm very old, and I remember what it was like way back in the... um, this past summer?
