When you sell/buy your junk silver
Bochiman
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As a seller, when you sell your junk silver (not culls or anything, but just well circulated examples of more modern 90% dimes/quarters/halves), how do you price it (compared to melt)?
Do you sell for melt itself (plus add shipping)? Do you price above?
For example, let's say that you have $10 face of 90% circulated Washington quarters and melt has them at $3.30 per. Since there are 40 in a roll of $10, that would be $132. Is that your sell or do you factor something above (or below)?
As a buyer, are you buying @ melt most of the time or a little above?
I do know that EVERYONE wants the best they can...ie, a seller WANTS above melt and a buyer WANTS below melt.....I'm simply asking where you put the numbers that you are willing to step up to?...not your "wish" number (ie...I could offer to sell the above for $100 and probably sell immediately, but that isn't realistic...nor is pricing at $200 to sell it)
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
Personally I post it on ebay as a buy now for over melt and if its overpriced a little someone will usually buy it at the next ebay bucks promotion.
If it sells immediately I'm not asking enough so I raise the price on the next lot
If I were selling today on eBay I would have to sell above spot, to cover the expected "free" shipping and leave room to cover eBay's high fee structure. I feel that it's hard to compete with all of the bigger players selling junk silver in that marketplace.
If I were selling here I think you could simply ask for X * Face + shipping and be fine.
As a buyer I'm certainly looking to get as close to melt as possible. On eBay, bonus bucks can help to do that and certainly when you add in credit card cash back offers or other incentives you can achieve that or even get below spot if things align.
If I were buying elsewhere I'd have no hesitation buying within a buck of spot and I'd pass once the price exceeds 2 bucks over spot, as I don't feel the urgency to acquire it and can wait for a better deal to come along.
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Do overly worn coins like junk Walkers and Barbers sell at a discount because they weigh less?
Are half dollars, ie. Franklins and 90% Kennedy’s, more desirable than dimes and quarters?
Big Webb here. My experience is Kennedy's always sell about the same likewise do quarters but dimes seem to have a very high premium added on and frankies well they are all over the place but definitely sell at a premium over like Kennedy's and even walkers. That's my personal experiences which I'm sure everyone will have a different take on the situation. Good luck either way.
COOKIES!
Perfect examples of why silver and gold are not money...
define overly worn
more desirable premium -
roosies and washingtons and kennedys are too common to have a desirability premium.
dateless standing liberty quarters can have a premium over washingtons.
unsure about frankies, but walkers have a slight premium and barber have a significant premium
mercury dimes have a premium and of course barbers have more
premiums fluctuate with spot. As it goes up the premium on my stash of VG standing liberty quarters will evaporate. Spot goes down there will be a floor under the price of them .
Not exactly that simple though , if spot moves quick in either direction premiums tend to over react then smooth out
Premium = how bigs ones story is, usually based on a perceived fact that has been woven to hypnotize someone into believing what seems to be a logical fairy tale or to feed ones ego of them already thinking they wrote the story...
Buy them low and sell them high. That's all I know.
My only complaint is when I buy random site unseen and it ends up being all slick crap that should have been melted 80+ years ago.
The whole worlds off its rocker, buy Gold™.
This area is different: For the past 4-5 weeks, I had been pricing silver @ 11x face in store with no buyers, I mean zero. Once it crossed to a point where the refinery was past the 11x mark, I just quit offering it, and sold it directly to them. Because of this, I cannot off anymore than 10x face to buy over the counter, that is low, but I am not running a museum. Im in the business to make a profit and keep it moving. I have turned down thousands of face just this past week, because folks are wanting 11-12x. Turn'd down 900 face today matter of fact.
.999 I price at spot and can somewhat move that a few at a time, eagles priced a bunch at 18.50 today and sold those, but 90% they will not buy.
Interesting that you have zero interest jdimmick. What are the demographics in your area?
Knowledge is the enemy of fear
You mean those of us that are not dealers are supposed to sell too?
to me dimes are poison , that viewpoint may or may not coincide with the need for reading glasses a few years back
I'll take all you got at 11x so long as AU or higher, no interest in the worn crap. Let me know. Thanks!!
The whole worlds off its rocker, buy Gold™.
Let me try to be more clear. Barbers, Walkers, and Mercury’s obviously have more numismatic value than modern silver coins but if they are in poor condition, the date isn’t clear, and they are well worn looking wouldn’t they be worth less than moderns because they have less silver and they really no longer have any numismatic value?
Vg barbers get more than VF walkers. Just do.
Some of us have been down that road. If you squat on them 10 years that might be true , but 10 years from now you might not care orsome movement of spot might wipe out the premium on that just as you are about to sell.
I've been sitting on a pile of nice standing liberty quarters for about a decade , I have a fondness for them but in hindsight it didn't actually do me any good. Its the same with anything , unless you are super organized and are able to track the premiums over time that homerun item you are hoarding might just be no big deal at sale time. The opposite is true at times Silver Pandas used to hold premiums quite well but when they went to metric it seemed to annoy folks , they got annoyed with the 1 oz version and that makes no real sense but here we are.
A lot of folks say morgan premiums will always be there but.........
40ies are really common and they made a lot of them.
14x face is high at today's spot price point, so yes might be a bit of a tough sell.
Well after a decade the piles junk silver just become part of the decor.
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That's pretty cool!
As long as you don't have any "sticky fingers" over to visit.....btw, when can I drop by?
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
Thanks.
It's exactly $300 face.
I could fit more in there but I liked the idea of a precise amount.
It's $100 each of dimes, quarters and halves.
It has sort of an artsy look to it I think.
Deceivingly heavy too.
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(hijacking my own thread, but, well, it's MY thread and that is a pretty cool thing....)
@JohnnyCache How many people do you imagine, that you know, that could take a look at that and have you say "$300 face value" and them knowing that is over $3500+ of silver? Very few that I know, in the real world, would know that.
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
Honestly, with respect to people I actually know and come into contact with on a regular basis, it's probably just my wife and kids who would have any true understanding of the value.
I'd say, fairly confidently, that most people, particularly the under thirty-five crowd, would look at it and not really have a clue of it's value. Those few that know it has value over face, or suspect that it might, most likely couldn't calculate that value, and I'd bet further that a percentage of those folks are assuming the added value is due to the age of the coins and not silver content.
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right now at current spot, refinery is paying 12.2 x , so that is where I have been selling past few weeks, took 190 face there fri
Yes, very cool.
The only thing that one can be expected from you is nothing, no delivery or a big sob story...
Ignore this guy, a known fraudster on these forums any search will provide info, this his at least 3rd new forum name...
that homerun item you are hoarding might just be no big deal at sale time
Yup. It is what it is. My momma told me, "you better shop around". That's all one can expect at any given time. You have to live with reality when you sell.
I knew it would happen.