Some advice, please?
PurpleEcho
Posts: 139 ✭✭✭
I've been liquidating to finance a tiny house build and the decent stuff has gone to GC. But I'm unsure what to do with the common date, cleaned Morgans I inherited when my folks died. Should I just wait for spot to go up and send them to Kitco or Apmex?
I'd really appreciate any input or opinions you guys with experience are willing to share. Thanks!
AKA Pakasmom
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Comments
This is easy, list them on the BST board.
In honor of the memory of Cpl. Michael E. Thompson
Thank you, Tom. I get that I should list them as what they are; common dates and cleaned,- but I don't know how to judge what to ask. Melt?
AKA Pakasmom
As long as they aren't culls then $20 each should be a good going price. Of if someone buys 10 then $18 each
$20 each for what are essentially culls? That seems high to me.
Not sure what else to consider cleaned circulated commons.
Collector, occasional seller
Closer to melt makes sense to me. You can check out PM value here.
Lance.
coinflation.com/
One thing I've learned is that you never know what someone is looking for, so there may be a little more value than melt.
There is cleaned, and then there is cleaned . If yours are in decent shape but just a little cleaned, maybe someone is looking for a nice Morgan for a belt buckle, hobo "nickel" project, or who knows.
When the local coin dealers reopen just call around and see what they are paying for common date, cleaned Morgans. Sell to the highest offer for cash on the spot. I would not advise shipping anything right now.
I dont do much with silver but i think all silver coins are being sold at a premium over melt right now. Im guessing you can do better than melt.
They are certainly worth more than melt!
Agreed, nothing is selling at melt right now. You could chop them up and sell them for melt.
Melt is like $12 per coin. Dealers are paying $16/coin for cull Morgan’s now which would include cleaned
Why would he do that? That makes no sense.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I took it to mean that identifiable forms of silver (coins, bars, etc.) are selling for more than melt, and that the only way to get "only" the melt price would be to chop them up. It is a sign of how strong the market is for sellers at current prices.
That's my take, anyway.
Yes. Silver rounds are $3 to $4 over. 90% silver WHOLESALE is at spot + $2.85.
And even cull Morgans always sell for over spot.
All comments reflect the opinion of the author, evn when irrefutably accurate.
????
This makes no sense. Cull morgans are $15-$16 wholesale now. 90% silver is selling at spot + $2.85 which is only about $12
All comments reflect the opinion of the author, evn when irrefutably accurate.
I have seen indications that dealers were sold out of common silver and had buyers seeking it... so, at this time, a couple of dollars over spot might be OK for Morgans....Try the BST, see what happens with a couple of them...Cheers, RickO
I was exaggerating, reflecting the points about culls. Grind some into powder, offer it as 90% silver powder and see if it doesn't go for more than melt. This is tongue-in-cheek, but it wouldn't surprise me right now, either way.
Thanks so much guys. I guess I should've posted on the BST... I just didn't realize stuff with little to no numismatic value could still find a small market there.
Appreciate the advice and link (Lance
AKA Pakasmom
The wholesalers pay big premiums to melt even for bent, folded, and holed Morgans.
I'd guess nice cleaned (not wire brushed) would bring the AG and better price which is at a big premium to culls.
FYI, just saw a flyer from Silvertowne, random melt bucket stuff, spot + $3. Silver shavings (.999) $18.38/ounce min. 10 oz. for each.
On Silvertowne's website, they sell/retail cull Morgans at $18 each (minimum 20 for $360), with FREE shipping!
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Consider keeping them unless you really need the money.
I'd take some semi-decent pictures, and list them at No Reserve on eBay.
List them in both the 'Morgan Dollar' and the 'Lots' categories.
I've done this before with good results. Clearly list all the dates, and indicate that many if not all have been cleaned.
Good luck!
Dave