Looking to Sell a Lot of Silver Bullion to a Dealer in Knoxville, TN

Hello, we have a lot of Franklin Mint sterling silver pieces that were bought new mainly in the 70s & 80s that we want to sell to a local dealer here in Knoxville, TN. we do not want to ship itfor sale. Is there a deaLER in Knoxille TN or there abouts who might buy it? We assume it's only worth silver bullion. Any of it worth more? What is a fair price?(around spot for it?)

Thanks

 

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You'll probably only get 80% of spot. It's sterling, so it's only .925 to begin with. Then, figure you find a decent dealer who will buy sterling at 90% of spot, you're looking at about 83% right there.

I don't know anything about Franklin Mint pieces, but I know there are catalogues of them. There is a market for some of the pieces; might want to research before selling.

 

I suggest you read this thread.

http://www.cointalk.com/t91422/

 

I have an old 2007 Numismatic Dealer Directory which lists at least a half dozen dealers in Knoxville. Check your local phone diectory for some current listings.

Unfortunately, a lot of people were suckered into the hype that collectibles like these were a good investment. The Franklin Mint and the Danbury Mint really aren't much better than Coin Vault, QVC or HSN. Their products are so overpriced that the investor/collector will never be able to recover the original cost.

Good luck!

Chris

 

Midas you might try the ANA Dealer Directory where you may find some coin dealers who also buy/sell bullion that you could work with.

You may also consider CT and list in the Open section.

 

Thanks all, I check out the links and suggestions.

 

The larger the city, the lower the swing on spot. A dealer in Los Angeles may buy at spot -8.5 and sell at spot + 8.5 giving him a 17% margin. Smaller areas like Las Vegas, dealers want a 40-50% margin. If you can get to a place with greater competetion, it might pay you to do so. Of course you would likely get the best price shipping it to a smelter yourself. IMHO

Price is also affected by quantity, of course.

 

By not wanting to ship it you are limiting your options.

 

Thanks for the good advice.