Hey all I have a oppurtunity to buy 27 silver quarters, 3 being standing liberties, also 16 dimes, 8 being mercs. So the seller is asking $120 which after calculations is melt value. Should I buy the lot at $120 or offer $100 for lot?
Melt for 90% is a nice offer. I say go for it. You are getting a great deal. I usually have to pay spot + 1 for it.
Most everyone will say go for it. I would say it depends. If the coins are in FN or lower condition, you might be losing as much as 20% silver weight on the times and 10% on the quarters, so you should consider that into your premium calculation.
Ok - first question is why is that lot still available? (many reasons I've heard before) Second, is it on Craigs list?
From the website Coinflation: "Not sure that's realistic. Go to your bank and ask for a roll of every denomination, weigh each coin on a scale with at least three decimal places of accuracy, and calculate the average weight. You'll find coin wear is not statistically significant. Silver coins (sometimes called "junk silver") obviously have wear issues sometimes and can affect weight. But these are traded as a store of value, they're not going straight to the melting pot. You won't see dramatic reductions in melt price unless the entire lot is clearly sub-standard. I could list weight relative to the common 1-70 coin grading scale, but I really don't want to do that."
XF Merc = 2.43g VF Lib Seat w/Drap = 2.14g To be "statistically significant" would require 5% or more wear. That's 0.125g. Again, as I originally said, "in FN or lower grades" you'd see 20% wear on Mercs. I still hold to that.
First off, 3/4 said to go for it. I said maybe. Even if you count my maybe as a no, that's 75% saying go for it. I'm pretty sure the general population would view 75% as most. Now, beyond that, the definition of most isn't even a majority, except in a binary system. If we don't count maybe as no, but actually as maybe, then you still have most saying yes. I'm not sure you even read my post correctly, which is the only logical reason why you're questioning my definition of most.
Oh Damn - "logical"? - sorry Spock - there isn't any way I can compete against your wondrous brain power!!
Markus, take a moment to reread the statement "I'm pretty sure most would say go for it." Now read it again. What do you think that means? Would you say that, so far, the overall consensus is to take the coins at spot? Then that means the majority would say go for it. If the majority says go for it, then most ALSO say go for it. This has nothing to do with politics or Star Trek. It's about reading comprehension.
One word - SPECULATION - kinda like all the crap in the media until the actual facts come out in court! I'm done - C, ya later.