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Tried to sell silver to LCS today...bad to worse news
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<p>[QUOTE="1865King, post: 5281126, member: 103207"]Bottom line for collectors. Junk silver and common coins will always be junk silver and the common coins will always be considered common so don't assume you will ever get top dollar for them. 90 percent junk silver coins are simply bullion and are treated as such. One other thing I'd like to point out is I would avoid paying big money any modern coin dated 1950 and later. I've seen some very high prices paid for this stuff. Nutty Prices!!! I think the price is driven by the PCGS and NGC population reports, hype or the Home Shopping Network.. What I'd like to point out that those population reports are worthless to us to estimate value. For every modern certified coin there could be far more just sitting in collections or dealer stock. Or just sitting in a safe deposit box that no one has bothered to look at for 20 years or more. I had this happen to me just yesterday. I went to the vault to get some coins a friend asked me to store for them. As I was pulling his coins out I found two 1958 proof sets I had forgot about. I took a look at both of them. One appeared to be an average looking set. However, the second set was really nice. Every coin looked very high end. Proof 69's or better. What did I do after looking at it? I put it right back where I found it and left. So it could sit another ten years before I look at it again.[/QUOTE]</p><p><br /></p>
[QUOTE="1865King, post: 5281126, member: 103207"]Bottom line for collectors. Junk silver and common coins will always be junk silver and the common coins will always be considered common so don't assume you will ever get top dollar for them. 90 percent junk silver coins are simply bullion and are treated as such. One other thing I'd like to point out is I would avoid paying big money any modern coin dated 1950 and later. I've seen some very high prices paid for this stuff. Nutty Prices!!! I think the price is driven by the PCGS and NGC population reports, hype or the Home Shopping Network.. What I'd like to point out that those population reports are worthless to us to estimate value. For every modern certified coin there could be far more just sitting in collections or dealer stock. Or just sitting in a safe deposit box that no one has bothered to look at for 20 years or more. I had this happen to me just yesterday. I went to the vault to get some coins a friend asked me to store for them. As I was pulling his coins out I found two 1958 proof sets I had forgot about. I took a look at both of them. One appeared to be an average looking set. However, the second set was really nice. Every coin looked very high end. Proof 69's or better. What did I do after looking at it? I put it right back where I found it and left. So it could sit another ten years before I look at it again.[/QUOTE]
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Tried to sell silver to LCS today...bad to worse news
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