Selling 90% coins
fleaseyelash
Posts: 12 ✭
Any member in zip 33950 that can recommend a coin dealer they have delt with.
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fleaseyelash
Posts: 12 ✭
Comments
Right now I'm seeing offers of 50% of spot in the general vicinity. The coin shops don't have the retail demand to absorb all the alloy being offered and the refiners are overloaded
Vermillion Enterprises in the Tampa area are (TODAY's UPDATE) buying CULL 90% dollars at $40 and selling at $43
Dimes, Quarters, and halve 90% they are buying at SPOT -$7 and selling for SPOT -$5
Brian Vermillion does a pricing update on his youtube channel nearly every business day.
COPPER is gutter !
you buying or selling?
When gold and silver move together, it signals the coming end of fiat money.
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That is reverse price gouging.
If the coin shops in your area are "overloaded" and only paying 50%, visit them and offer to buy at 60%. I bet you won't get any.
Don't always believe the negative hype from low-end coin shops and pawn shops. They always try to talk down the items that are being offered to them.
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Interestingly, the Coin World's 100 Influential coin shop previously mentioned is right around the corner from one of the major refiners who only does wholesale.
JM Bullion is buying at $37.34 per $1
About 15% back. I’ve bought from them thru the years but I’ve never sold anything to them.
Mike
MIKE B.
Try the bst. 90% gutter sales are very weak atm. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
I went to a local coin shop in my area (and there are not many either) and tried to sell 3 Morgans and 3 Peace dollars a few weeks ago. I was offered less than $12 for each one. Needless to say, I did not sell. Don't know if I will go back to sell, may buy if he has something that I want for a good price.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
Ill be honest, Im low, cant sell it locally, along with .999 , have to ship to the major wholesalers, they are as of right now.(the ones I ship too who have always been fair)
minus 5.50 on 90% and other place minus 6.50
.999 minus 4.25 and other minus 5.00
One of the super major buyers who buys from one of the places I sell too, told me that they got word today, not to ship any additional boxes rest of year period. And they are huge outfit!!! Billion dollar plus buyer
and i can tell you brian at vermillion is about as fair as they come, and he's way back on 90%
ask if they will sell 2026 ase in pre-sale dec or in jan
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$12 is ridiculous. Go back and ask again, and if they still quote $12, ask them what they have for sale, and at what price.
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In another thread it was recently stated that Vermillon's 90% rate is currently 39x buy, 40x or 41x sell.
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I went to a local coin shop in my area (and there are not many either) and tried to sell 3 Morgans and 3 Peace dollars a few weeks ago. I was offered less than $12 for each one. Needless to say, I did not sell.
The shop I've been dealing with would pay $38.25 for a VG or better Morgan Dollar and $35.75 for a VG or better Peace Dollar in small quantities.
I wouldn't support a business that tries to do that to its customers.
I knew it would happen.
They were trying to rip you off. Even in cull these are 3 times plus that.
COPPER is gutter !
I will probably not go back to this coin shop. I felt like I was not really wanted as a customer.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
That silver dollar buy price at that shop is pure theft
Im low and I buy common date peace 21m, VF and lower pre21 at 33-34.
its the only silver I can still somewhat sell at 37-38 each.
999 no 90% no ase for a time, yes, but now No
And what would you attempt to achieve by asking that question?
Knowledge is the enemy of fear
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Call the shop on their bluff.
And, just maybe, if they bought silver dollars at $12, maybe they would sell some at $20 ?
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Looking to sell a sealed monster box I first asked my LCS if they had any ASEs for sale and the answer was "no." I then asked if they were buying and at what price. Answer was "yes, $5 below spot."
My reply: "that's why you don't have any to sell."
When gold and silver move together, it signals the coming end of fiat money.
I kinda felt that way too.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
I just called my local dealer. They are paying 35x. No thanks.
Many dealers just don’t have the capital to operate competitively.
COPPER is gutter !
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Yes, a lot of dealers and shops will restrain their buy prices to the point where they can take what they just bought and immediately sell to another dealer. A bad sign (to me) is when a dealer has low buy prices and nothing to sell.
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Getting harder and harder to find a counter-party.
Knowledge is the enemy of fear
There is a counter party in every sales, financial of trade transaction. face-to-face exchanges are risk free. counterparty risk exists with all other transaction types and they depend heavily on trust and are readily available.
I deposit a check in my bank account based on my trust of the institution. when I walk into the bank and complete a withdraw of those funds their is no risk.
When gold and silver move together, it signals the coming end of fiat money.
For a shop to offer that low, it is similar to when you are getting contractor bids.
If a contractor really doesn't want your job, either because it (or you) is a PITA, they will bid it way high. To the point where they want you to say no and walk away, without being the one to turn you away directly. If you accept the super high bid, they will do it to make bank off you.
In this case, sure, the dealer could have been trying to really rip people off, and would have if sold at that price, but likely they may have been wanting to say "Nope...don't want to buy any right now", without saying that. It's a cowardly thing to do, but some folks are just that way.
I wouldn't suggest getting panties in an uproar about it, unless you say a long history of pure ripping off from them. Just pass and move on
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
i have bought and sold from the big online dealers, apmex, jmbullion, provident, and kitco.
all were easy to deal with and sent an ach payment
They have no problem buying the gold at $4300. They just dont want gutter at $60 or even $50 lulz. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
I know of at least one dealer who buys and sells 90% silver competitively with a 7% buy/sell spread.
I knew it would happen.
7% spread? Thats the same as 14 years of 0.50% annual fee.
Knowledge is the enemy of fear
Since you call 90% gutter, why would anyone pay $60 or even $50 when its .715 troy ozs. of .999. Morgans & Peace are higher but think quarters and halves are the series being sold the most. For dollars its .773 but still no one is going to pay $60. At $50, an LCS would take a loss with financing costs, shipping, etc.
7% spread? Thats the same as 14 years of 0.50% annual fee.
Isn't every investment or speculation a judgement call?
I don't claim to have perfect timing, but I'm already up 2.77% on the 90% silver that I bought on 12/6.
I did look at all of the spreads on various silver before I bought. Silver Dollars had a spread between 13% to 15% and ASEs had a spread between 6.8% to 8%, 100 oz. bars had a spread of 5.5% and so on.
I decided on common 90% silver having a 7% spread because it is selling below spot and I recognize the fact that these types of premiums will change as the market continues to evolve and I don't expect 90% silver to be selling below spot forever.
I knew it would happen.
I don’t think of 90% coins as investments. They have intrinsic value, content and numismatic wise. The numismatic value decreases as the hobby is diminished. There aren’t enough collectors to absorb the coins. Therefore, they will be melted until the numismatic value exceeds the content value.
I'm gonna visit my LCS today or tomorrow.....last time with silver at $56, the calculation started at $50 (a $6 refiner discount).....then multiply that by 0.715.....$36 for $1 worth of coins ($1, dime, quarter, or 50 cent).
Silver dollars were about $38 to sell based on the above, a bit higher.
It's also okay to ask the dealer what his buy/sell is for any items. He may be more willing to let you know what's going on in the market when you demonstrate some understanding.
I knew it would happen.
Is that because the gold refiners are not backed up like the silver refiners? $4300 buys lots of silver; but, only one ounce of gold.
Did someone say 90% ??
COPPER is gutter !
Well, this is the Precious Metals forum. I’m sure im not alone is this sub forum who doesn’t give a horses patoot about numismatic anything.
STACK THAT 90 UP!
Mine ain’t getting melted!
COPPER is gutter !
the idea is to stay on topic, but there is crossover. I used to do both. to say ""doesn't give..." is insulting, especially on the pcgs website made for collectors
It's an OPINION based on a comment regarding numismatics where there IS a sub forum for that. I'm talking about 90% That's ON TOPIC lolz
COPPER is gutter !
it is on topic, but there is crossover. collectors are the site's target audience. so there is crossover
Agreed. And I wouldn't say what I did in the Coin forum. Because that's a numismatic based dicso. I respect that. But insulting? Come on man. I'm SURE numismatic folk have the same thoughts on general stacking of PM's / coins regardless of condition. Insulting is too strong.
COPPER is gutter !
When did these "discounts" start appearing ?
I thought seeing them at $50 and above was natural since the last two times it hit those levels, silver declined wickedly and anybody buying near the top got burned. But I had thought that wasn't the case on the way UP -- just at/near the peak.
Of course....it will be interesting if we slowly continue to rise and the fears of a sharp plunge dissipate.
If you make purchases based on opportunity (when the deals are presented), you don't have to pay any 7% spread.
Deals can be had at coin shows (smaller ones are better for this), coin club meetings, estate sales, local auctions, etc.
I got these today at a local estate sale. I can sell to the local dealer for a little more than what I paid. I can get more than that if I shop around and ship it. I could also put them out for sale at my next coin show table.
I'd try selling right here first. Post a pic, name your asking price and see what happens. It's free and you control the transaction and payment terms. Contrary to what has been said here by a certain poster, people are buying at these prices. I am still buying and will continue to buy silver and gold. We may be looking back in a year or so and saying I wish I would have bought at $60 and $4200.
Called my LCS today and asked what they were paying for 90%'s and sterling. They said to just bring it in and they'd let me know then. I said I was driving 1.5 hours to get there so I wanted to know before I wasted my time. They had me hold for a minute then returned and said $32 an ounce. Seemed a bit low. I would be happy to be buying it @ $32 an ounce so I can't blame them for trying! I tried another shop and the phone just kept going to a message giving store hours. I've sold to APMEX before and it went smoothly, might as well just skip the middleman and do it again or perhaps give it a try with Midwest Refineries. Anyone have any issues with Midwest Refineries? It was recommended here on the list to me about a month ago.
Jim
Dealer at a show today had pre 21 Morgans at $43. Everyone else was at $50-55
SOLID DEAL!
COPPER is gutter !
i dont think shops have a clue what to do with this current price action but regular people don't either.
prices need to stabilize or no one is very comfortable trading
My wife bought a nice original F12 1884 for the fun of it. Most of them were cleaned or had other minor problems, but that was the same with everyone else also.