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gothboi30
Penny Collector Member
USA
286 Posts |
 Posted - 05/24/2010 : 19:47:37
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Hi everyone. I was at a local flea market yesterday, and found a guy selling near-slick mercs and slqs. He was asking $2 each for the mercs, and $4 each for the slqs. Is this a fair deal, or too much? I didn't buy any of them, as I wasn't sure if these were good deals or not. What's the best/fair price to pay for slick or near-slick 90% silver coins that aren't worth much except bullion value? I ended up buying (from a different seller) 2 mercs ('45d and a '45s), a '46 walker, and a '12 Barber quarter. All were fairly priced, but upon closer examination (after I had already purchased them), they appear to have been cleaned. Still, I had a great time. Wanted to buy 2 silver eagles, but one was waaay overpriced (neat proof though), and the other had damage/a stain on it.
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/24/2010 : 20:01:22
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Table based on May 24, 2010 1:30 PM EST precious metal prices (after-hour prices not reflected):
Silver $18.01/oz 0.37
Description Denomination Silver Value Silver % of Denomination
1942-1945 Nickel ** $0.05 $1.0133 2026.62%
1916-1945 Mercury Dime $0.10 $1.3028 1302.82%
1946-1964 Roosevelt Dime $0.10 $1.3028 1302.82%
1916-1930 Standing Liberty Quarter $0.25 $3.2570 1302.82%
1932-1964 Washington Quarter $0.25 $3.2570 1302.82%
1916-1947 Half Dollar $0.50 $6.5141 1302.82%
1948-1963 Franklin Half Dollar $0.50 $6.5141 1302.82%
1964 Kennedy Half Dollar $0.50 $6.5141 1302.82%
A 90% silver dime currently has a melt value of about $1.30 for its silver. I know a place that sells them at their spot silver value and that includes shipping. But you have to buy a $1,000 bag minimum. Smaller lots have higher premiums. Mercs are usually well worn compared to Roosevelt's. The more wear the less silver. If you are just buying a couple of dimes or so and the age of the coin means a lot to you then $2.00 wasn't a bad deal. But if you want to buy big amounts for their silver value then you better shop around. |
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Think positive. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 05/24/2010 : 20:29:23
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Slick Mercs do carry excessive wear and will weigh in at 5% less than the .715/$1 face SILVER standard. It's sort of like getting 5% less than the going rate. So, if the going rate is 13X, these are really worth no more than 12.35X because of their weight loss. I guess if you can get a good deal for them, they are OK to buy. But, don't pay the going rate for them as you would for nice circulated 90% SILVER. Standing Liberty quarters without dates fall into the same category. The most honest way to sell all of these would be by weight - everyone happy!!  |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 05/24/2010 : 23:06:28
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| I paid 65.00 for ten franklins and 18.00 for an engelhard one ounce on sunday |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 05/25/2010 : 10:50:52
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| Yeah tat bar I figured was a good price, He needed to pay rent on his booth, Ive been getting the franklins and walking libs from him for between 5.00 and 6.50 depending on spot |
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Nice2Cu
Penny Sorter Member
USA
25 Posts |
Posted - 05/25/2010 : 19:38:19
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| That's very interesting to hear about Mercs tending to be more worn. So in general, if buying solely for bullion, would it be wiser to buy 90% rosies than mercs just bc you'd tend to be getting more actual coin (and therefore silver)? I've been buying 90% dimes from my local shop, and tend to gravitate towards mercs. Foremost, I just love the way mercs look, but I also thought there may be a slight convenience factor if TSHTF. If it ever came down to a bartering situation, one could just look at a merc and know they were getting 90% silver - they have a distinct look, and all of them are siliver, as opposed to rosies. Not sure if that would even be a factor, but who knows. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 05/25/2010 : 19:52:37
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If you're just trying to get the most for your money with 90%, stick with the latest issued silver coins, Kennedy halves, Rosies, Washingtons. You can find ebay listings of rolls of 1964's, and the bidding isn't any higher (it will be someday) then for the more worn older coins that carry ostensible numismatic premiums  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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sunsetcliff
Penny Pincher Member
USA
101 Posts |
Posted - 05/27/2010 : 08:18:34
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| $2 for mercs - is high. I got them cheaper on ebay where fees and postage come in. One thing- I do like mercs tho- I think they will do well- if you did pay $2- I dont view this as a train wreck- as it is STILL better then paper. |
It is great to be here ~ !
http://groups.yahoo.com/group/silverme/ |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 05/27/2010 : 17:15:23
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| I LOVE the mercs too! Has to be my favorite coin |
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12kHz
Penny Sorter Member
USA
83 Posts |
Posted - 05/28/2010 : 10:18:38
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quote:
Originally posted by Ardent Listener
I know a place that sells them at their spot silver value and that includes shipping.
Would you be willing to share this source?
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Fatboy
Penny Sorter Member
USA
81 Posts |
Posted - 05/28/2010 : 15:12:48
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quote:
Originally posted by 12kHz
quote:
Originally posted by Ardent Listener
I know a place that sells them at their spot silver value and that includes shipping.
Would you be willing to share this source?
That would be a good deal in today's market. Tulving is $.49 and APMEX is at $.60 over right now for a full bag. Them premiums are a rising! |
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marine70
Penny Pincher Member
USA
150 Posts |
Posted - 05/28/2010 : 20:08:28
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| I have been buying junk silver from individuals for 11Xface. |
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sunsetcliff
Penny Pincher Member
USA
101 Posts |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 05/31/2010 : 08:52:24
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quote:
Originally posted by marine70
I have been buying junk silver from individuals for 11Xface.
Are you buying from people you know, or are you advertising some way? |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 05/31/2010 : 08:57:03
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| Ive been picking up 1996 silver eagles at a decent price,(about $28-$31.00 Im just trying to put a roll together. O know thats no where near spot but they are a low mintage and all |
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Best price for junk silver coins?
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