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Tried to sell silver to LCS today...bad to worse news
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<p>[QUOTE="1865King, post: 5252674, member: 103207"]Based on what you were trying to sell I can figure out why he may not have been interested in a number of items. Gold coins whether buying or selling are expensive and the dealer may not have customers that would buy them. The 1923 Peace dollar is a very common dollar and he most likely put it in a old cigar box with other common dollars and sell them for less than $25.00 each. This is a very common practice. Not a lot of profit in doing that. Same with the Washington quarters because they are considered junk silver. Junk silver is bought below spot and generally sold at spot or not much more. The Mexican Olympic silver coin would fall into the same category of junk silver. He may not have wanted it because he had no buyers. The casino tokens and off metal bars wouldn't appeal to most collectors so they have no value to the dealer. Those are considered novelty items of little to no value. Honestly I don't think the dealer treated you poorly I think what you offered him was stuff he would be stuck with. I think he was being fairly honest with you. As a final note about 12 years ago I wanted to buy some silver bullion and went to a dealers shop that I've been going to for many years to see what I could pick up. I notice he had a lot of modern commemorative silver dollars that I know he had for a very long time. These were still in mint packaging and in both proof and mint state format. I ended up buying about 50 of these 90 percent silver dollars for between $14.00 and $16.00 dollars in the mint packaging. The dealer was happy to get rid of them. I still have them and still consider them as just bullion. BTW most dealers would also.[/QUOTE]</p><p><br /></p>
[QUOTE="1865King, post: 5252674, member: 103207"]Based on what you were trying to sell I can figure out why he may not have been interested in a number of items. Gold coins whether buying or selling are expensive and the dealer may not have customers that would buy them. The 1923 Peace dollar is a very common dollar and he most likely put it in a old cigar box with other common dollars and sell them for less than $25.00 each. This is a very common practice. Not a lot of profit in doing that. Same with the Washington quarters because they are considered junk silver. Junk silver is bought below spot and generally sold at spot or not much more. The Mexican Olympic silver coin would fall into the same category of junk silver. He may not have wanted it because he had no buyers. The casino tokens and off metal bars wouldn't appeal to most collectors so they have no value to the dealer. Those are considered novelty items of little to no value. Honestly I don't think the dealer treated you poorly I think what you offered him was stuff he would be stuck with. I think he was being fairly honest with you. As a final note about 12 years ago I wanted to buy some silver bullion and went to a dealers shop that I've been going to for many years to see what I could pick up. I notice he had a lot of modern commemorative silver dollars that I know he had for a very long time. These were still in mint packaging and in both proof and mint state format. I ended up buying about 50 of these 90 percent silver dollars for between $14.00 and $16.00 dollars in the mint packaging. The dealer was happy to get rid of them. I still have them and still consider them as just bullion. BTW most dealers would also.[/QUOTE]
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Tried to sell silver to LCS today...bad to worse news
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