How closely do dealers check 90% “junk”

Moldnut · June 24, 2018 3:25PM

Just curious.

ECHOES · June 24, 2018 3:28PM

Well I guess that depends on the dealer, that is how I found this one...

CaptHenway · June 24, 2018 3:49PM

Check for what? Non-silver? Rare dates? Die varieties?

Veep · June 24, 2018 3:54PM

It depends how busy they are, how much help they have, where the silver came from, what the price trend is as well as other factors.

Silver gleaned from a cash register and set aside by the family for generations is more likely to be checked than junk silver from a long time collector.

Moldnut · June 24, 2018 3:58PM

@CaptHenway said:
Check for what? Non-silver? Rare dates? Die varieties?

Let’s say 1916-D, 1919 and 1942/1 Dimes.

Smudge · June 24, 2018 4:20PM

If someone took a $100 bag of junk to my bullion dealer, I think he would take a quick look and would certainly check a 1916 Merc. That quarter would probably go unnoticed. Depends on the dealer, how busy he is and who is selling. Buying from me, my dealer probably would not check at all as he would know they have been looked over pretty well and he is a bullion guy.

jmlanzaf · June 24, 2018 5:28PM

I know dealers that have big operations with multiple employees and they check everything. I know other dealers with small operations that just run it through a coin counter. In most cases, it is a waste of time, frankly. Time is not free, so spending hours looking for a $1000 coin that you find once every 5 years isn't usually a good use of time.

KollectorKing · June 24, 2018 5:30PM

@Moldnut said:

@CaptHenway said:
Check for what? Non-silver? Rare dates? Die varieties?

Let’s say 1916-D, 1919 and 1942/1 Dimes.

Hmm I never knew 1919 mercs were rare

Type2 · June 24, 2018 5:34PM

I would buy roll's for 90%

1964 Type "B"

Moldnut · June 24, 2018 5:37PM

@KollectorKing said:

@Moldnut said:

@CaptHenway said:
Check for what? Non-silver? Rare dates? Die varieties?

Let’s say 1916-D, 1919 and 1942/1 Dimes.

Hmm I never knew 1919 mercs were rare

I got you. Do they check for the 1919 DDO or do they even know about them?

KollectorKing · June 24, 2018 5:40PM

@Moldnut said:

@KollectorKing said:

@Moldnut said:

@CaptHenway said:
Check for what? Non-silver? Rare dates? Die varieties?

Let’s say 1916-D, 1919 and 1942/1 Dimes.

Hmm I never knew 1919 mercs were rare

I got you. Do they check for the 1919 DDO or do they even know about them?

but but butt you didn’t specify “ddo” in your original post

KollectorKing · June 24, 2018 5:46PM

@KollectorKing said:

@Moldnut said:

@KollectorKing said:

@Moldnut said:

@CaptHenway said:
Check for what? Non-silver? Rare dates? Die varieties?

Let’s say 1916-D, 1919 and 1942/1 Dimes.

Hmm I never knew 1919 mercs were rare

I got you. Do they check for the 1919 DDO or do they even know about them?

but but butt you didn’t specify “ddo” in your original post

PS - it’s been well known & a fact newbies are joining, posting, learning etc on these boards. Hence we need to be as precise as possible posting info here. Just my 3 cents worth. & no sarcasm except from me

StrikeOutXXX · June 24, 2018 6:14PM

@Moldnut said:

@KollectorKing said:

@Moldnut said:

@CaptHenway said:
Check for what? Non-silver? Rare dates? Die varieties?

Let’s say 1916-D, 1919 and 1942/1 Dimes.

Hmm I never knew 1919 mercs were rare

I got you. Do they check for the 1919 DDO or do they even know about them?

At least 5 of the 24 were found searching 90% bags, some just last year. I still don’t think the variety is that widely known, and would venture to guess there are still a ton of bags filled pre 2015 when the variety was found that have yet to be searched through.

Moldnut · June 24, 2018 6:21PM

I guess that is what I was getting at. Do the local B&Ms actually go through their 90% and look for that kind of variety.

jmlanzaf · June 24, 2018 6:27PM

@Moldnut said:
I guess that is what I was getting at. Do the local B&Ms actually go through their 90% and look for that kind of variety.

Generally, no. Time is money.

jdimmick · June 24, 2018 7:14PM

I check all the 90% that comes in for better dates, some (not all) varities. and condition census stuff.

My biggest problem is varieties, its hard to remember all those in your head, sometimes I just don't remember to check for certain. the bigger well known are easy to remember, stuff like the type c reverse 64 and stuff is ones I tend to forget about.

the other local dealer here has no clue about varities or dates for that matter, so he doesn't.

In the past two months he called me to ask me why a group of 10 walking liberty halves he had put on an auction site was so high. well because included was a 21-d in VG+ in the group, he had no idea.

about a month ago, he gave me some silver dollars to look thru he bought from some dude that came in for 12 bucks each, and low and behold one was a 1903-O in MS.

BLUEJAYWAY · June 24, 2018 10:14PM

A local bullion dealer/jewelry store run by a friend of mine has no interest in checking his silver purchases too closely. I alerted him to the 1919 merc. dime error. No interest. He does take note of mercs/SLQ's/Walkers, but not to the degree of checking for any errors/varieties.

Kccoin · June 24, 2018 10:28PM

three local b&m shops will check for rare dates on junk that comes in, but that is about it. many 90% sets get popped out and tossed into the junk box in au/bu condition.

One shop owner flipped four merc bags without even blinking. Time is money for them

ricko · June 25, 2018 9:16AM

I would believe that dealers receiving bulk bags do not - for the most part - thoroughly check for all varieties... as stated above, time is money and the likely reward is slim. Cheers, RickO

PocketArt · June 25, 2018 2:32PM

@ECHOES said:
Well I guess that depends on the dealer, that is how I found this one...

Salvaged my Type C too out of the 'ole bone yard. AU'ish quality 50-55. Also picked a '21 merc, and about a dozen AU Walkers at melt- common dates, but uncommon find so was pleased. Nice album toned UNC '32 Washie as well.

UtahCoin · June 25, 2018 3:42PM

We would check if time permitted. I know we found a AG 1916-D dime, and a VF 1942/1. Not junk silver, but we did pull a G-4 1914-D Lincoln out of a $50 bag of wheats.

ECHOES · June 25, 2018 3:43PM

@PocketArt said:

@ECHOES said:
Well I guess that depends on the dealer, that is how I found this one...

Salvaged my Type C too out of the 'ole bone yard. AU'ish quality 50-55. Also picked a '21 merc, and about a dozen AU Walkers at melt- common dates, but uncommon find so was pleased. Nice album toned UNC '32 Washie as well.

Nice!