What's the best way to sell silver coins at melt?

lkeigwin

I understand that sales should be posted on BST. That's not the reason for this thread. I simply would like to know if there's any reason I shouldn't just take the stash to a B&M instead of offering it on BST or selling on ebay.

The below picture shows what I am dealing with. I'm looking for a competitive melt price. Selling to a B&M would save shipping and insurance costs but would I be ahead that way? What kind of discount would I suffer?

Second question:
Are clad Ikes and Kennedy's worth anything more than face value? Let's say they are in AU/MS condition and not cherry picked (cause I wouldn't know how). Just spend them?

Thanks for the advice.
Lance.

49thStateofMind

I'll take your stack of Morgans

pakasmom

If you have a B&M that will pay you melt, that's the quickest and easiest.

But "one man's trash is another man's treasure." You'd make more people happy by offering them on the BST. Have your buyer's absorb insurance/shipping/hassle. I'd bet they wouldn't last long on the BST.

Flatwoods

If you have a good B&M that would be cheaper and easier.
Mine pays as much as I can get anywhere else and I don't have to worry about shipping.

blu62vette

Will most B&M's pay full melt?

seanq

I dunno what your local B&M stores are paying, but after calling around to a few places just before the holiday I got a better price on the BST than any of them had offered, even after factoring out the shipping. As far as being "quick and easy", I had two offers to buy within ten minutes of my BST posting and funds in my PayPal account within half an hour.


Sean Reynolds

RichieURich

No one, except maybe a collector, will pay full melt. Here's a situation that shows why:

Collector has some 90% silver coins (but not more than a few hundred dollars face) and sells them to a dealer. That dealer sells them to a larger dealer who accumulates quantities of each denomination totaling $1,000 face, then packs them into a bag and sends them to his big wholesaler. The wholesaler accumulates a lot of bags and sells them to a smelter. The smelter puts the silver coins in the furnace, melts the coins and turns them into silver bars. This task takes energy and people. Everyone along the line - - the dealer, the larger dealer, the wholesaler, and the smelter, have to make some money. The smelter also has to cover the costs of smelting. Unless all of these people are in the same place, there also are shipping costs at every step. That's why you are unlikely to get the melt price for 90% silver coins, unless you sell to a collector.

sinin1

selling at small show or local B&M may be an option

I just checked the website were I have sold in the past and they are offering 18.83 x face at $29.25 basis


I visited a local coin shop that had some coins in an auction for viewing last month and asked what their buying price was for 90% silver
and the person told me 10x face - so I asked to clarify - if I bring in $10 in circulated Franklin halves, you'll give me $100?


big range in 'fair' buying price

AMPEX has buying price for $1000 bags - but will take smaller I think


mailing is risk and packaging insuring somewhat difficult for people not used to doing it


some collectors are willing to pay more for the wlh, barbers, slq, mercs


driving to coin shops to find out their asking price can be time consuming and fuel inefficient

eBay prices are usually above melt if you place it in the correct category
fees for eBay and PAYPAL can be a chunk - but stuff like that, you can start at 1 cent and it will get to value in an auction
and don't need a pile of pics

back to time value. desire and ease, and urgency

chumley

I,ve never met a B&M that bought at melt.....he.d go broke

ArizonaJack

That picture screams BST !!!!!!

mrcoin3

I think someone on BST is offering to pay 20 x face delivered right now.

robkool

The BST is the best...