? regarding using APMEX
CHeller
Posts: 18 ✭
in Q & A Forum
A question for someone who's sold silver coins to APMEX... I understand they take numismatic value into consideration. So, when you send them a bunch of coins they want you to list each one and include it's "grade." -- I'm dealing with a box of coins left by my grandfather. I've run them all through my "SnapCoin App" and that returns a grade but, of course, I doubt the accuracy. Does anyone have any idea how AMPEX will respond if they don't like the way snapcoin graded these things? I can't imagine it's worth it to me to have someone grade a bunch of morgan and liberty dollars and franklin and liberty halfs....? I suppose I should just hold out those few that might be worth a premium and take those to a private dealer? ...
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Comments
Do not use SnapCoin for anything other than reference, their grades and pricing are all over the place and no one
will accept their grading. If they are not already graded by a trusted grader, they will probably grade them themselves but they have to be higher grades, they wouldn’t be interested in lower grades except as bullion.
And yes, it would expensive to have graded yourself. Unless a coin is worth at least $200.00, it does not pay to have them graded.
You should only sell bulk silver to them. If you're trying to sell individual numismatic coins, try a local dealer or the BST.
I wouldn't sell to them. They won't buy from you unless their offer is at least $5,000.00.
What is "BST" ?
The Buy/Sell/Trade forum here on this site.
If you lay the entire collection on the table and take just a few pics and post them here, just to give us an idea what we’re dealing with, you’ll probably get some more useful advice.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
This is a rough idea of the box of coind I'm dealing with and unsure how to attack...
US Coins:
25 Peace Dollars 1922-26 (melt value 37 - collecting value if "VF" 47+)
20 Morgan Dollars 1882-1921 (melt 37-39 - collecting value 44-50 the 1886-o & 1900-s worth $100 or more?
10 Walking Liberty halfs 1917-43 (melt 17 or collect $25-$30)
9 Franklin halfs 1951-62 (17 melt, $22-$25 collect)
2 Kenedy halfs ($7-$8 each?)
1 1893 Columbian Exposition quarter (the app says "AU" $265-$360) Google says average circulated is $20-30 but even at VG could still be $200...?
Then there's the photo of misc. coins...
The app says the Barber Half is AG and maybe $29
Union Shield Nickel no rays "G" and $26
1866 three cnt nickel VF $28
They say the Seated Liberty Half is !858-o FR and $48
1831 Coronet head cent AG $23
and others similar or $5-$10....
Aside from those I've got maybe 50 wheat pennies - mostly worth 9 cents to .75 cents...
I've got that "set" of liberty nickels and civil war era? coins that are barely readable that I don't know what to make of...
Then I get into the Canadian stuff:
There are those King George quarters but they're basically worn flat on back
I've got Canadian pennies and quarters a few dimes etc. that have "some" value.
On my "notable" page I've got the Columbian Exposition coin, A Swedish coin that might be worth $350, a Canadian penny for $153, The two best Morans and one best Peace dollars...
I've got 2 to 8 coins each from a dozen additional countries each might be worth from .75 to $11 or so...
What do I do with that conglomeration of 30 or so coins that are now completely unidentifiable but are probably an ounce or two of silver?... Would a coin shop weigh them and pay?...
So, What does it look like to you guys?
I'm an hour and a half from Thunder Bay. Should I take all the Canadian stuff to a shop there?
What do I do with the stuff from Europe and Panama and Mexico, Hungary etc.?
I'm thinking I'll take a bunch to a shop in Duluth, MN in a couple of days and get some opinions ...
Here's a follow up question... Are (for example) 1923-s Peace dollars sold and traded as "VF" for say $45-$47 if the grading was not done by a third party? I mean is it "accepted practice"? Or is it more accurate to say that if a 1923-s VF Peace Dollar has a "value" of $47 but hasn't been professionally graded, then it's value to the owner is really the $47 minus the cost of grading (which is what(?) per coin?) which would put it below melt value so it's best just to sell them for melt? --- Or will a coin dealer generally pay a premium over melt value knopwing he can grade them more cheaply and sell them etc....??
Professional coin grading varies from large volume pricing from about $8, to $12 or more for standard grading in collector volume.
Based on the pics, it’s unlikely that you’ll benefit from certifying any of the coins. Even the 1893 Isabella Quarter, which is probably about a $200 coin, will not benefit from certification. I’d suggest selling the coins here on the BST.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Ok - Is that $200 "without" grading it? Why might a coin "not" benefit from grading?
And, I'm curious about this one too which seems might be in $350 range?
https://en.ucoin.net/coin/sweden-4-riksdaler-riksmynt-1864/?cid=71527
Cleaned and rim bumps. It won't straight grade anyway.
$200 is my rough estimate of what the coin would sell for between a typical buyer and seller. When I say that the coin would not benefit from certification, what I really mean is that you would not benefit from certifying the coin, because most buyers of commemoratives in that sort of quality range don’t care if the coin is slabbed, and they won’t pay extra for the plastic.
As for the Swedish piece, I can’t tell you exactly what it’s worth, but the story is the same as for the Isabella Quarter. The collectors won’t pay extra to get the coin in a slab.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
When a bullion dealer asks for grade, they are looking for a certified grade from a reputalbe grading company such as PCGS or NGC. Such coins will be sealed in "slabs." Otherwise the coins are "ungraded." Best prices on-line for a seller are at bullionexchanges.com
The East Is Buying Gold. The West Is Buying Time.
I would just sell your stuff to a local coin dealer. They buy this stuff all day long.