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What should one expect for selling 90% (Washington quarters) at a show (to dealers)?

BochimanBochiman Posts: 25,381 ✭✭✭✭✭
in Precious Metals

Thinking about taking in a mixed bag of dates/conditions to a local show in the morning.
Thinking about anywhere from $40-$80 fv (I have about $200 but not going to lug all that in).

I don't "need" to sell, but I wouldn't mind selling some of it.

Dates go from mid 30s (lower conditions) to 1964 (AU/unc).

Spot is $15.34
Melt value of each quarter is $2.7742

Since this would be in person, no shipping or anything, so that is a bonus. But, since they are dealers, I know to expect to get less than spot. How much less is the question.

Thoughts?

I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

Comments

  • blitzdudeblitzdude Posts: 5,894 ✭✭✭✭✭

    I'm guessing since dealer they are going to offer you 10% back of melt.

    I wouldn't want the hassle or risk of selling via eBay but certainly I would think you could get spot via the BST thread. Of course you'd have shipping charge but minimal.

    The whole worlds off its rocker, buy Gold™.

  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
    edited January 19, 2019 6:35AM

    11X face?

  • MorganMan94MorganMan94 Posts: 1,330 ✭✭✭✭✭

    @hchcoin said:
    11X face?

    11x face is essentially melt.
    I would expect to get 10.4x face based off a conversation I overhead yesterday when I was in a shop.

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    with the volatility the PM market...good luck in getting 10 x face

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭

    Actual melt value is .715 x spot. On the selling side. If you're offered .67-.70 x spot, it's typical for legitimate offers. Ron.

  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭
    edited January 19, 2019 8:22AM

    You can fit most of that in a small flat rate priority box and sell it here and ship for about $7

    image
  • VanHalenVanHalen Posts: 3,991 ✭✭✭✭✭

    You'd be better off selling to a buyer of PMs and shipping for $7 as noted above. A dealer is likely to offer 10x fv or less. You can easily get 11x (and maybe 12x) if selling to a PM buyer.

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    @VanHalen said:
    You'd be better off selling to a buyer of PMs and shipping for $7 as noted above. A dealer is likely to offer 10x fv or less. You can easily get 11x (and maybe 12x) if selling to a PM buyer.

    Perhaps, but only if you offer free shipping, for your $80 face @ 12 x

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BochimanBochiman Posts: 25,381 ✭✭✭✭✭

    Thanks all.
    For my part, I wanted to come back and mention what was offered.

    10.4x face

    I only sold a couple rolls to finance potential purchase. At that price, wasnt going to sell all as I dont need to at this time.

    Saved on time and shipping so I was ok. Basically broke even with what I paid a year or two ago

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • VanHalenVanHalen Posts: 3,991 ✭✭✭✭✭

    That's a solid offer. 10.4x face is currently ~5% back of spot: 10.4/.715=$14.55.

  • MorganMan94MorganMan94 Posts: 1,330 ✭✭✭✭✭

    NAILED IT!

  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭

    I would sell to someone who won't have to travel far with it. Buying bullion at a show is not fun to haul around. I would most likely pay spot-.75, but might be more or less depending on volume.

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