Dealers, what do you pay for Unc. common raw dollars?

logger7

Dealers, what are reasonable buy prices at this time for common raw silver Morgan and Peace dollars? What does the coin have to grade to send it in to grading? Unless you can do bulk submissions at PCGS or NGC I don't see how you can make money. MS63 and MS64 coins are not selling for enough unless you buy them in the $40 range before grading and even then the profit margin is not much.

mikee999

@logger7 said:
Dealers, what are reasonable buy prices at this time for common raw silver Morgan and Peace dollars? What does the coin have to grade to send it in to grading? Unless you can do bulk submissions at PCGS or NGC I don't see how you can make money. MS63 and MS64 coins are not selling for enough unless you buy them in the $40 range before grading and even then the profit margin is not much.

check with AZ coin exchange - they have a web site

logger7

@mikee999 said:

@logger7 said:
Dealers, what are reasonable buy prices at this time for common raw silver Morgan and Peace dollars? What does the coin have to grade to send it in to grading? Unless you can do bulk submissions at PCGS or NGC I don't see how you can make money. MS63 and MS64 coins are not selling for enough unless you buy them in the $40 range before grading and even then the profit margin is not much.

check with AZ coin exchange - they have a web site

Thanks, I have checked with them and they seem very responsible and efficient.

But I was thinking more in terms of how do dealer buy and at what prices if they are going to get the coins graded.

Project Numismatics

@logger7 said:
Dealers, what are reasonable buy prices at this time for common raw silver Morgan and Peace dollars? What does the coin have to grade to send it in to grading? Unless you can do bulk submissions at PCGS or NGC I don't see how you can make money. MS63 and MS64 coins are not selling for enough unless you buy them in the $40 range before grading and even then the profit margin is not much.

I agree with your assessment, but I think dealers buy these items as part of larger deals or relationships and sell them because collectors expect it. As stand-alone items, it makes little sense to deal in this material because the margins are too thin (unless you do enormous volume).

jmlanzaf

@logger7 said:

@mikee999 said:

@logger7 said:
Dealers, what are reasonable buy prices at this time for common raw silver Morgan and Peace dollars? What does the coin have to grade to send it in to grading? Unless you can do bulk submissions at PCGS or NGC I don't see how you can make money. MS63 and MS64 coins are not selling for enough unless you buy them in the $40 range before grading and even then the profit margin is not much.

check with AZ coin exchange - they have a web site

Thanks, I have checked with them and they seem very responsible and efficient.

But I was thinking more in terms of how do dealer buy and at what prices if they are going to get the coins graded.

You SHOULD NOT take your submission costs out of the seller.

Wholesale bid on AU coins is $44. Anything less than $40 is unfriendly.

MS60 to 62 wholesale is $50. Anything less than $45 is unfriendly.

You want to submit, add that to your sell price. Or have you noticed that no one will pay $70 for a $40 coin in a $30 holder?

You are right, 63 coins don't pay to submit unless you have bulk submission privileges. That's why I sell them to wholesalers who submit in bulk. Not everyone can sell everything profitably.

MFeld

At current > @jmlanzaf said:

@logger7 said:

@mikee999 said:

@logger7 said:
Dealers, what are reasonable buy prices at this time for common raw silver Morgan and Peace dollars? What does the coin have to grade to send it in to grading? Unless you can do bulk submissions at PCGS or NGC I don't see how you can make money. MS63 and MS64 coins are not selling for enough unless you buy them in the $40 range before grading and even then the profit margin is not much.

check with AZ coin exchange - they have a web site

Thanks, I have checked with them and they seem very responsible and efficient.

But I was thinking more in terms of how do dealer buy and at what prices if they are going to get the coins graded.

You SHOULD NOT take your submission costs out of the seller.

Wholesale bid on AU coins is $44. Anything less than $40 is unfriendly.

MS60 to 62 wholesale is $50. Anything less than $45 is unfriendly.

You want to submit, add that to your sell price. Or have you noticed that no one will pay $70 for a $40 coin in a $30 holder?

You are right, 63 coins don't pay to submit unless you have bulk submission privileges. That's why I sell them to wholesalers who submit in bulk. Not everyone can sell everything profitably.

In addition to the above, many ungraded 63 and lower quality coins are simply sold, as is, to buyers who don’t care about graded coins.

logger7

Due to inflation and costs even Anacs and ICG have raised their lowest grading prices. One dealer was getting his Anacs coins graded for $6 to $8 each as the rock bottom large bulk submitter price. ICG never goes under $9 even on their bulk specials. I'm curious where PCGS and NGC are on their bulk submission deals? NGC once had a tier pricing based on whether the coin graded 63-66. But you had to have a good submission success rate.

ricko

There is a large segment of the collector community that collects raw silver dollars. Not everyone demands slabs/grades. Cheers, RickO