Sell 40% Kennedys to Purchase 1 Kilo .999?

Discussion in 'Bullion Investing' started by Mkm5, Jul 10, 2021.

  1. Mkm5

    Mkm5 Well-Known Member

    I've got too many 40 percenters and I thought about selling them towards the purchase of a kilo bar.

    I placed an ad on Craigslist and got an offer of $800 for $100 face. My only real concern is the risk of a buyer passing counterfeit notes.

    LCS will pay $750.

    Any thoughts?
     
    sel w and capthank like this.
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  3. baseball21

    baseball21 Well-Known Member

    Just sell it to the LCS and dont risk getting robbed or followed home to be robbed later since they know you have valuables in the house
     
  4. Blasty

    Blasty Gold Member

    Either of those seems like a great deal for 40% halves.

    Melt today on $100 face is $771 and I would always expect to be lowballed on 40%. I'm surprised your LCS pays as much as they do for those, maybe that's just the higher premiums across the board coming into play.

    I'd go the LCS route unless I really trusted the Craigslist person. I've never bought/sold coins that way so up to you.
     
    sel w likes this.
  5. Mkm5

    Mkm5 Well-Known Member

    Thank you, I've sold household items on Craigslist with no issues previously, but haven't used them for coins.

    Believe it or not, 40 percenters are selling at the local shops for $8 each! I can only guess the buyers think it's 90 percent.
     
    sel w likes this.
  6. baseball21

    baseball21 Well-Known Member

    It's mostly fine for things like an outdated tv or old chair, but once you start getting into like iphones or coins/jewelry and things like that thats where you really start getting the criminal element especially in these times
     
  7. Collecting Nut

    Collecting Nut Borderline Hoarder

    Take them to your LCS. You may be able to do a little better using them as a trade in. If not, it’s still a good deal for you as you will be face to face and building a better relationship.
     
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  8. Mkm5

    Mkm5 Well-Known Member

    Agreed, unfortunately he doesn't usually have kilo bars in stock, other than the occasional beat up ones. I have seen some J&M bars, but premiums are high on those.
     
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    The larger the bar the more difficult it is to sell it when the price goes up.
     
    Cheech9712, sel w and Two Dogs like this.
  10. rte

    rte Well-Known Member

    I'd probably sell to the craigslist person but have them meet me at my place of business.
    There are plenty of people around as well as a camera or two.
    You could always meet the person at your bank lobby OR their bank lobby.

    If you get some brownie points from your coin dealer (hes going to make a few bucks off the transaction) might work in your favor on your next purchase.
     
  11. Mkm5

    Mkm5 Well-Known Member

    Yeah, I just thought it would be nice to get one and condense the stack. I do like the 40 percenters though, probably because I found so many on circulation and CRH.
     
    sel w and Collecting Nut like this.
  12. Collecting Nut

    Collecting Nut Borderline Hoarder

    If there is a coin you want that is a thousand or so you could trade for it. :)
     
    sel w likes this.
  13. baseball21

    baseball21 Well-Known Member

    0 chance he could trade those for a 1k coin
     
    imrich and sel w like this.
  14. Mkm5

    Mkm5 Well-Known Member

    That's what I was thinking if I did sell that way, confirm the bills in a safe place. Probably back into a parking space ahead of time to keep license plate out of view.
    I like the way you think, maybe a nice $10 Indian?!
     
    Mr. Flute, sel w and Collecting Nut like this.
  15. rte

    rte Well-Known Member

    So your in a state that doesn't require a front license plate...see your giving up too much information already :p
    Just jerking your chain...
    I wouldn't worry about someone running your license plate (that would or should require a law enforcement aquaintce) those people are generally more on the up & up.

    The only time I'm concerned about someone following me is returning from the gun range.
    We're usually in a group, one person hangs back a bit and watches the rest.
    I usually make a side detour to a drive thru for lunch and keep an eye open for anything odd before heading home.

    By all means IF you can trade with your local shop that is probably better for both sides.
     
    sel w likes this.
  16. Mkm5

    Mkm5 Well-Known Member

    I like the way you think! I always like to be aware of my surroundings.

    And yes, no front plate required here!
     
    sel w likes this.
  17. rte

    rte Well-Known Member

    There is a guy on collectors universe that's selling $750 worth in melt of 90% silver.
    ( halfs and quarters)

    In a round about way you could trade up, your 40% to 90%.
    (sell yours buy his)

    I've accumulated more 40% then I need and could also use the room.
    A kilo bar has a better look and feel then a pile of 40% halfs.
     
    sel w and Mkm5 like this.
  18. fretboard

    fretboard Defender of Old Coinage!

    Easier and safer to sell to your LCS. If you want to buy more Silver, that's up to you? Me, I would buy Gold! thumbupp.gif
     
    s2h904, sel w and Mkm5 like this.
  19. Collecting Nut

    Collecting Nut Borderline Hoarder

    I didn’t quite word it correctly but he knows what I mean.
     
    sel w likes this.
  20. Collecting Nut

    Collecting Nut Borderline Hoarder

    Like I said, I would trade for something, a $10 Indian would be nice and pay the difference if you have to. You know what your LCS said he’d give you. Fine, but maybe you can get a better deal by buying something. He’ll need to turn a profit and you know that. What you don’t know is how much he is willing to drop the retail price on that coin you want.
     
  21. terky

    terky Active Member

    I think the best place to sell most anything from your Kennedys to valuable numismatic coins is at a coin show, period (as long as you already know a bit about what you are selling). I just in the last 2 days sold Morgans that were MS63,64 and 65 along with some other nicer coins and some old silver dimes I had laying around forever. All cash, all fast, all simple and I think prices were right. The dealers will make something and I was happy. No shipping, no listing fees, no 10% take off the top and no paperwork. I got $1.95 per common date Mercuries and Roosevelts.
     
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