Coin dealers or bst??
holeinone1972
Posts: 5,364 ✭✭✭
So I have some ms silver, dimes, quarters, halves etc. Am I going to get a fair offer at a dealer, or just melt.
Or is your opinion bst better.
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I do not know that there is a one-size-fits-all answer to your question. It would likely be best for you if you reached out to those dealers you might find have potential to work with you and obtain answers directly.
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BST
Precious metals forum has a monthly BST thread/topic you can try
I would think that it depends on how much time you are willing to mess with it. Short time - Dealer (would more than likely receive a lower offer, especially in bulk) Longer time - BST (I would sell them in smaller groups to recoup the most $$$)
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BST if you are patient, Great Collections for professional service and quick turnaround.
Most dealers are not going to give you anywhere near melt unfortunately. You would certainly get better prices in the bst thread. But then you have to take the time to ship, possibly wait a few days for sale etc. Guess it all comes down to how much product you are trying to move.
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If you have nothing more than common date circulated silver coins you would do best by calling local dealers and asking what they are paying for .900 fine US silver coins. Take the best offer, dump them, and don't look back. All other sales methods take more time and probably have greater expenses and risk.
Why would you expect to get much more than melt for such material?
I checked with two CT dealers yesterday: both were offering around 9.5X face.
I would recommend the BST, unless you already have a local dealer with a favorable relationship - which should include previous deals that you are happy with. Cheers, RickO
OP stated their coins are ms.
If they are common dates (64s) you will likely get melt on the BST or less from a dealer. If they are older or have a mix of dates you may be better listing the dates on the bst and ask for offers. Stuff like Franklin rolls carry a premium, early dimes carry a premium, early quarters definitely carry a premium etc.
shipping BU rolls on BST at 10 or 11 times face versus musty handing them across a counter at 9.5 to 10x face? Time postage and risk? Would have to be a LOT of face value. And even then that probably means even more separate buyers.
Dealer margins are thinner than people think.
What coins are you talking here? Full rolls? Etc.
If you can provide...........more specifics would elicit more precise opinions
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If they are 1964-date really "bullion" items, I couldn't see taking the time to list them and checking back for responses and then negotiating payment, etc as worth the small difference most ...decent... local dealers will pay.
Call around and ask what the dealer is paying for 90%. There's usually only a tiny difference.
At least in a metro area where dealers have enough volume of sales to actually....compete.. for bullion.
Go to a big Coin Show.
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The few times I have sold, I always did better on BST than local dealers.
Im a dealer and we're not on speaking terms. Sorry
Another thing to consider is most shops won't pay a premium for better or Unc. coins ("nowhere to go with them"). You can get premiums if you check around.
As a buyer, I have made purchases many time on BST. I am certain that no dealer would match my offer. However don't expect me to pay anything more than 90% of ebay price either.
Yes, please state what you have, it's impossible to give a good answer. MS what? Franklins, 1964 Kennedy's, rolls of mercurys or roosevelts, every response might have a different answer from us. Plus what kind of dealers to you have near you? Bullion dealers and pawn shops or real old-fashioned coin dealers?
Have you examined them for any errors?