Question re: selling silver for melt when "worth" a bit more?

Discussion in 'Coin Chat' started by TylerH, Aug 18, 2018.

  1. TylerH

    TylerH Well-Known Member

    Hi All

    I have a pile of about 55 Franklin halves, and maybe 10 Liberty halves.

    No rare dates - None are AU - The liberty are all VG-F, the Franklins are probably F- VF

    So by guide they have more value than melt, but does anyone buy them like that, or is it just melt value for non key coins under say, AU?

    Thanks!
     
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  3. TheFinn

    TheFinn Well-Known Member

    They are worth more than melt. Usually they sell by a multiple of their face value, like 11.5 x face. Halves generally bring a premium over quarters and dimes (on the selling end, of course). Here is a listing online from one of my LCS by X face value:

    US Silver Buy $1-499 $500+ Sell $ $200 + $500 +
    Dimes 9.75 9.85 11.00 10.80 10.60
    Quarters 9.75 9.85 11.00 10.80 10.60
    Halves 9.80 9.90 11.10 10.90 10.70
    eace $ 13.40 13.50 16.50
    Morgan $ 14.90 15.00 18.00
    40 % 3.79 3.89 4.33 4.33 4.33
     
  4. -jeffB

    -jeffB Greshams LEO Supporter

    I've had various dealers tell me that halves go for a bit more of a premium than quarters, which in turn get more than dimes. But good luck getting a dealer to offer you more for halves. @TheFinn's dealer is an exception, at least in my experience.
     
  5. TheFinn

    TheFinn Well-Known Member

    They are. Many ask more for halves, but won't pay more. They pay 5 cents more on the buying side, but charge 10 cents more on the selling end.
     
  6. rte

    rte Well-Known Member

    List them in the classifieds here.
    I'd be interested in taking a look at the walkers.
    Shoot me a PM with a price and a picture.
     
    NOS likes this.
  7. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    The key when it comes to "worth" is to whom. If expecting a dealer to pay premiums according to your assumed grades you're kidding yourself. Most will buy as scrap or as already mentioned a certain multiples of face.

    Private buyers and/or collectors may (MAY) be a somewhat different story, but many like to play dealer and/or expect to buy at the same level. Still, they're yours and you've every right to hold out for what you want. The point not question is if you'll ever get it...

    Good luck!
     
    green18 likes this.
  8. TylerH

    TylerH Well-Known Member

    Im not invested in them and they are common so "melt" would be fine - The money is just going tobe used to buy 1 or 2 really nice coins for my collection (Trade 400 for 2!)
     
  9. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    It's all a personal decision, but what I explained above is what you should generally expect. Again, best of luck and I genuinely hope you find something you truly enjoy. :)
     
  10. Joe2007

    Joe2007 Well-Known Member

    The coins you describe in circulated grades generally don't have much numismatic value. Most local coin dealers will undoubtedly base their offers on the metal content not on the numismatic aspects of the coin. My local dealers buy junk silver at approximately 20% back of the precious metals value of the coin. For example a few weeks ago they were buying at 9.5X face while selling at 11.3X face. For coins like heavily circulated common Morgan's in G-VF they pay a bit more than the melt value of the coin, they were paying $12 each for Morgan/Peace dollar and then selling them for $18.
     
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