local dealer will pay 4.5X of face, so it it is $203 free if I sell them. The rolls are neatly labeled like 1968, 1969, 1965-70, 1967-8... either somebody died and the heirs just deposited them to the bank or they were stolen. Very obviously intentionally set aside by someone that knew they were silver.
Yeah, stack em', man. I can easily envision a future where they are worth many multiples of what they are now. And if that day ever arrives, you'll be glad you put them back.
The dealer is buying them from you for 75% of melt (if I do the math right). Is that a typical percentage from a local dealer type?
Usually in that neighborhood. 75% was exactly what I was offered when I went and sold a large portion of my actual coin collection. The key is you have to find a dealer that works with the current market to get those prices. For instance my local dealer would have offered me somewhere around 30% of true market value. That wasnt good enough for me so i sought a large dealer in one of my states larger cities. He was at approximately 75% of greysheet and NGCs averaged prices. Still not as great of an offer as i would have liked, but it was fair. Ended up selling to one of our very own forum members who is a very active dealer and was able to get me closer to 80% of the total value. I accepted this offer as I felt like it was fair and left him room to profit too. The key was though I had to find the right dealer for my needs
I've known the dealer a long time and he is fair. You have to take into account the fact that 40% and 35% silver sells for a lower percentage than 90% coin silver. It kind of needs to be melted and reformed , while 90% coin silver is acceptable as is, or can be melted. I would prefer the equivelant silver weight in 90% silver coins. Anybody hoarding silver certainly would want 90% which would take up half the space or so. I'm cool with the quoted price since I know 40% is less desirable.
it even says right on the wrapper what is in the rolls and is accurate. I'm thinking about going back and asking for dimes and quarters, but those likely would be gone or never existed. I'm thinking there should be some 90% to go along with the 40%. If you save 40% then you also save 90%....had to be some 90% in this hoard, impossible to get that amount of 40% and no 90% ( IMO). best find for me in many years !
condition of junk 40% silver is irrelevant unless you are talking like MS-68 area. Some have some nice toning and so forth but all are junk unless some one in a million ultra high MS example is in there.... this is the ordinary mix of EF ( at worst) to AU/low MS coins that one would expect as these silver JFK halves did not have a long life span as a circulating coin.....I don't think I've ever seen a silver JFK half that would not grade at least VF....unless holed or otherwise damaged. I've seen some worn clads but the silver ones were not around too long before getting yanked from circulation via Gresham's law. They all tend to be AU or sliders. Makes no difference until you get into the high numbers
these rolls were even labeled by dates I don't think the tellers can buy them these days ? A lot of bank tellers are young girls ( as in teenage), but there are plenty of 50 ish women that should know better. If you're 50 ( like me) you should know that silver coins are worth more, if you handle money for a living. You should be able to spot counterfeit bills too ! If you know your job , you should be able to spot counterfeit currency and also easily spot silver coins which is much easier, just a rim check is all that is needed.
Some do and some don't. It's not the job of the bank employee to appraise or even search coins. In fact, in some ways the time it would take to do so would make the employee less efficient and might even be considered as stealing company time. At one time, I worked at a bank and my branch manager was really cool. If we weren't busy, I could search my bills and coins and set aside anything of interest to me to buy later.
great score. I always peek cash drawers and ask for halves, eisenhowers and even two dollar bills if i see them for my change. They always seem to be happy to get rid of them. Ocassionaly score 40% halves. The 90% coins less often. My best find was a Merc dime. He looked at it, then tossed it in my hand. happy hunting
I work in a bank and search all the customer rolls that come in. Find some wheaties, maybe 1 silver dime a month, only 2 silver quarters ever, and never any silver halfs. Someone did deposit 4 proof presidential dollars the other day. I picked them up for my son. Sent from my SCH-I545 using Tapatalk
