I need Help! I inherited 200lbs of silver coins
dwonearth
Posts: 5
I just inherited these coins and need help.
1st-- Do i go thru them all or do i have someone else help?
2nd - I plan on keeping the low value ones just because i see silver climbing over the next few years ---
3rd -- He has 3000 susan b's and the indian girl dollar-- all mint. Are they worth more than a 1.00.
4th -- He also amassed $2000 in state quarters most in mint roles though many loose. What do I do?
5th -- He also has thousand Silver notes some mint some worn..
Thank You all for the help. This just seems overwhelming for someone w/ no coin experience.
1st-- Do i go thru them all or do i have someone else help?
2nd - I plan on keeping the low value ones just because i see silver climbing over the next few years ---
3rd -- He has 3000 susan b's and the indian girl dollar-- all mint. Are they worth more than a 1.00.
4th -- He also amassed $2000 in state quarters most in mint roles though many loose. What do I do?
5th -- He also has thousand Silver notes some mint some worn..
Thank You all for the help. This just seems overwhelming for someone w/ no coin experience.
0
Comments
Sounds like you have a lot of cherrypickin to do!!!!!
Should keep you occupied till you find out what your coin calling is!!!!!
Hell, I don't need to exercise.....I get enough just pushing my luck.
<< <i>3rd -- He has 3000 susan b's and the indian girl dollar-- all mint. Are they worth more than a 1.00. >>
No, they are worth face value.
Are you sure the 200lbs is silver coins? Or just coin he saved over the years from pocket change. Dimes, quarters and halves from 1964 and before are 90% silver. 1965-1969 halves are 40% silver. Everything else after 1964 are clad and worth face value.
Cameron Kiefer
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Decide what your goal is: do just want to know more about what you've got, or do you want to sell?
Liberty: Parent of Science & Industry
I Trade on the market metals and with the weak $ policy under Bush I see silver at 16 + in the next few years-- That is the reason i want to hold onto junk.
On the other hand I was thinking that it might be better to sell all and buy just a few great coins. Just a little Lighter.
I m not firm on anything yet.
200 lbs of silver is approximately
200 *16*.9*.9*8....comes out to be about 20700$ if you took it into a local coin shop....
Not saying you should do that but that is about the amount you would get.
siliconvalleycoins.com
<< <i>Cool,
200 lbs of silver is approximately
200 *16*.9*.9*8....comes out to be about 20700$ if you took it into a local coin shop....
Not saying you should do that but that is about the amount you would get. >>
Not following your math here. First, 90% silver coins don't contain 90% silver by weight, it's by volume. The 10% copper, etc. isn't as heavy as the silver.
A troy ounce, which is how silver is weighed for value is not the same as an AV ounce which is what virtually all scales are calibrated in.
Anyway, without getting confusing, the lucky poster is going to have to count them all and separate them by denomnation as well as war nickels and 65-69 Kennedys.
Your number of around $20,000 isn't too far off from melt, assuming the coins are all in fine or better condition. Dealers are going to buy back of spot on melt silver coins. He will get a better deal if offering them here on the BST board.
I'm as much of a silver bull as there is and I think he's going to have to wait several years to see $16 silver, if ever.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
LoL!
If I were you, I would do exactly the reverse.
Liberty: Parent of Science & Industry
<< <i>Everything else after 1964 are clad and worth face value. >>
Not necessarily true!
I would get a current issue of the Red Book to start with, and you can ask questions here. Lots of folks will be glad to help in more ways than one........
Also, get a grading book - the ANA and/or Photograde, so you will know what you have.
Good luck and have fun - sounds like you have your work cut out for you.
I just gave him a quick number..
That is what the second .9 is for as well...someone buying 90% of spot...
J
siliconvalleycoins.com
Yeah...cause all of us here sit around and wait for a newbie to show up with 2000 pounds of melt silver!!!
siliconvalleycoins.com
<< <i>1965-1969 halves are 40% silver. Everything else after 1964 are clad and worth face value.
Cameron Kiefer >>
Stick to sample slabs.
Russ, NCNE
Don't be in a rush, the coins won't evaporate.
Everything is overwhelming when it's new. Persevere.
A clear madate to develop a new hobby, with built-in parameters - learn about what you have, a bit at a time, and
write it down, with the date you learned it.
Don't share the knowledge freely around the area you live, to reduce your risk of loss.
Best Wishes!
Secondly, lots of opinions here but if I were you I'd go to Ebay and search Completed Auctions to determine the value of anything in that pile. Certain Mint Wrapped State Quarters rolls bring strong money - many times face value. And as they say, Money talks and BS walks.
<< <i>Deadhorse...I said approximate...
I just gave him a quick number..
That is what the second .9 is for as well...someone buying 90% of spot...
J >>
OK, I was in a hurry getting away from work and I was having a time figuring out how you got where you got.
Dealers will often pay 10 to 15% back of spot and even more if they see there are many worn coins. When they sell in large quantities it's by weight.
Anyway, no offense meant. I wish I had his problem.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff