What's a good multiplier for figuring value of junk silver coins?

rlawsha

I have a little over $50 in old silver coins (pre 65) that consists of the usual mix of dimes, quarters, halves and dollars. No rare dates of course but there are some Franklins and Walking Libertys. I suppose I am too ethical to put them on eBay and say estate sale or unsearched silver hoard. What is the going rate (today) for figuring the value of this lot? Do you multiply face times 5 or 6? I'm looking for a reserve amount basically.

beartracks42

Formula is;

.715X(silver price per oz.)X face value. The last show I was at(two weeks ago), silver was being bought at 4.8 to 4.9 times face value by dealers.

CarlWohlforth

Some folks use a multiplier, that is probably the easiest way to go. I checked the back of the Red Book which has a chart "Billion Value of Silver Coins".

To me it would not be worth putting a reserve on junk silver on eBay. That is because it costs money to put a reserve on an auction and I'm betting the market for junk silver is efficient. That is I am sure at least two people will figure out the bullion value of the coins, subtract shipping and bid that much.

ddink

Right now the multiplier is 5.76x face.

Steve355

Still trying to figure out how to put a link on these messages, but this URL might help:

http://search.ebay.com/search/search.dll?GetResult&ht=1&sortproperty=metahighestpricesort&query=90%+silver+hal*&from=R10&category1=11116

Will need to copy & paste. Also, ref Completed Items.

Probably best to put them up on Ebay, just without the "unsearched" claims.....

Steve

topstuf

rlawsha.....The margin on junk silver is so tiny (and reduced even further by shipping costs) that I would bet that you would be just as well advised to sell it to a local dealer.

(and you would eliminate the volatility between list date and close)

It can change very quickly. Also.....BULLION.....buyers are VERY likely to renege if the market moves against them.

rlawsha

There are no local dealers. Closest one is 45 miles away an he is a butt head. I bought a $100 Morgan from him and would have bought several of them the day I was there but it was a little too much trouble for him to do more than grunt a couple times and go back to his chair. I was obviously not worth it to him. I didn't ask a lot of questions, I just wanted to look at the boxes full of slabs in his case. I may do a short eBay sale and watch it closely, thanks for your tip.

BigGreek

I've been putting together a collection of international gold bullion
coins. I can say that for gold, ebay is a very efficient market. For
example I used buy-it-now to pick up a Kugerrand for $430 + $6 s/h
(most places retail Krugers at $440+). He had two for sale. A day
later gold was up $4 and I went looking for the second. It was sold.
I've never seen a coin sell for under spot - s/h.

Cladiator

.715 x Silver Spot Price x Face value of silver = value in $

Steve27

This is Tulvings current buy price for silver bags (delivered to him): 90% Silver Bags- Buy at $5,469 ($1000 face). It will probably be higher tomorrow.

mgoodm3

If you're selling, a good multiplier would be about 100X face. If buying a good multiplier would be 0.5x face. Oh, were you asking for realistic answers? I don't have any of those.