Reply to Thread

Message:: [QUOTE="disbo100, post: 998965, member: 27323"]Hi Folks,First post here and wanted to pick yall brain. I'm not a coin collector but a military antiques collector (WW1/2 US, German and Japanese swords, daggers, helmet ect). I run ads in my local area that I buy WAR relics and Gold and silver coins. Ive run this same ad for a year now and no one had brought in any large quanities. Last week a lady came in with (I cant make this up)..about 20 pounds of pre 64 silver coins. :hail:so I bought them all. About 70 Morgan's and Peace dollars, tons of Franklins, quarters and dimes.From the research I have done about 80% of these are VG or better condition.. Some are MUCH better. All are loose and none have been professionally graded. Here is what I came up with so pls correct me if I'm wrong concerning raw silver prices.   20 lbs +/- x 16 ounce =320 ounces of silver 320 x $20.00 (todays spot price) +/- = $6400.00 The coins are only 90% silver  6400.00 x .9 = $5760 $5760 is the "spot price" for 320 oz of silver Question 1: looking at it from the numismatic side would it be reasonable to expect to get MORE the melt rate For these coins?  I would think especially for the 80% (in VG or better) I mentioned above shouldn't you get 10-40% MORE than melt rate? Question 2: If I were to take it to bulk Metals dealer (NOT a pawn shop or the like!!) what kind of costs do they have to pay to process/melt them?   Is there a ballpark percentage that would work? 5%..10-20%??  Thank you in advance for any advice since I do plan on selling them in the near future. If you don't want to post a reply here you can call me if that is OK with the forum rules..Thanks Chris  ps Ill post some pics of the "treasure pile" when I get back to the house.[/QUOTE]

Create my FREE Account!

Log in or Sign up

Reply to Thread

Useful Searches