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Do the silver mongers give you a premium for your First Strike, privy marks, or other designations?
mrcommem
Posts: 1,213 ✭✭✭✭✭
Just wondering, now that you have paid a premium for those fancy First Stike, Early Release, Privy marks and other such designations, do the silver mongers pay you a premium when you sell them to be melted? How well did that work out?
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Bullion stackers don't typically buy slabbed coins.
edited to add... and First Strike, Early Release and Privy mark collectors don't typically buy with the intention of selling for melt.
A lot of commems and Eagles don't get a premium for a 70 much less any other designation at these prices. If the issue was value, submitting any of those was a waste of money. But people submit for a lot of reasons that have nothing to do with future value. I'm not sure anyone learned a lesson here. I'm sure the next time someone finds dad's collection of circ Morgans, someone will still tell them to slab them for ease of resale. Meanwhile, common date 63s and lower are currently bullion coins. Not going to get your $30 back.
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No premiums. Currently it's all being cracked out and sent into the big melt. Privy's, types, condition, designations doesn't mean a thing in todays market. 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?
If they are melting them, of course you don't get a premium. What do get, however, is the increase in value attributable to the increase in the price of silver.
The premiums paid for attribution only have values to collectors, and collectors understand that. No one expects to recapture it if the coin is being melted down, so just wondering what you are wondering about?
Why people don't feel stupid for buying non-bullion at non-bullion prices, and then later selling as bullion at a nice profit after spot increases? Because that question really answers itself.
For slabbed bullion coin Values refer to CDN CPG. As far as these coins being worth only melt that’s BS.
It's not "BS" depending on what "these coins are". I'm sure you are paying way over melt for MS69 1st Strike silver Eagles. If you are, let me know how many you want.
All comments reflect the opinion of the author, even when irrefutably accurate.
Take it up with CDN.
That's retail not wholesale. Greysheet is at $96 bid at $93 silver.
All comments reflect the opinion of the author, even when irrefutably accurate.
A coin shop that buys bullion in quantity is not looking to sit on collectible bullion. They want to turn bullion for cash flow.
This is not the time to sell privys though some are very collectible. Let the dust settle, be patient.
FS and early release labels are just that IMO. Marketing jargon. There is no discernable difference in strike or luster. I question the long term premium valuation of those labels.
A local dealer is offering gold certified First Lady coins with "First Strike" notations on them for 2% over the spot price. He sells the raw coins for 1% over spot. So I would say that those special notations have no value, at least not for those coins.
Special labels and packaging are meant to make money for everyone except the end user.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Could be talking about the scum that only pay melt for slabbed coins having every intention of selling at inflated slab prices
👹🤑👹🤑👹🤑
Take advantage no matter what the product is when buying or selling. It’s the American way especially now more than ever in the history of the country.
Yes there are rip off jerks that will try that. Look up your slabbed coin in CDN CPG both its retail MV (CDN CPG MV) and CDN Bid. Now if this is raw junk silver that’s different.
Remember when their BS starts (say low ball u especially at your table), it’s time for them to leave.
Everywhere I've asked lately is paying the same for graded, proof, MS, etc.
I checked ebay and after fees, I think you still barely realize any premium over spot.
If you are going to do that, you need to find people who are willing to pay "inflated slab prices." Given the state of the modern gold commemorative gold coin market, I don't think there are many of those folks around. When it melts for over $1,000, that takes a lot of air out of the tire.
Maybe if you market coins to non collectors on-line, or are a barker on the "shop at home channel," you might find a few, but given the high price of gold, there is not much room for numismatic premiums on those coins these days.
What is a silver monger?
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Checked with most big online sellers and for decades with most dealers at shows and all were selling slabbed coins at current retail price for the slabbed coins but when buying only paid less than spot except for the occasional rare variety . As I said “scum” and I am sticking to it.
Definitely not a werewolf....
All comments reflect the opinion of the author, even when irrefutably accurate.
Oh, you are serious. I thought you were doing a Cougar impression.
All comments reflect the opinion of the author, even when irrefutably accurate.
For op question.
No don’t think so if u talking about some bulk junk silver thing. Don’t they run it thru some weigh machine?
No. They do not weigh them in the slabs
All comments reflect the opinion of the author, even when irrefutably accurate.
I’m sure they don’t (slabs) was referring to junk silver.
The winner is ASE-20 in a tube that can be sold for the same price as W burnished uncirculated coins.
You misspelled "the bag holder"