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silver coins

Discussion in 'Off Topic' started by MIKEV311, Jan 1, 2012.

  1. MIKEV311

    MIKEV311 SALEM,OREGON Member

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    Anyone know of any reputable shops to look at and give me a value of my us silver coins close to salem?
     
  2. exploregon

    exploregon Forest Grove, Oregon Member

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    To know you're not getting ripped off, the going rate on silver is spot value (current) plus 4-5%. I have a private dealer here in the Portland/Vancouver area that sells silver at spot without dealer markup but those types of people are hard to find. Everybody wants to make a buck. :)
    Keep in mind that US pre 1964 (dimes, quarters & dollars) are only 90% silver and have about .77/troy ounces of silver in them. For a shortcut pricing, not including dealer markup, refer to Current Melt Value Of Coins - How Much Is Your Coin Worth? It's the best melt value site out there. Not always exact on the spot prices, but usually pretty close. Also, these types of pricings are only based on the melt value of the precious metal value so in this case the silver. For rare type coins, some are more valuable numismatically but generally most are what they call "junk" silver where your coin is only as valuable as the silver.
    I know that this doesn't answer your question, but thought I'd chime in before you just go find some strip mall dealer that's lookin' to find somebody to make more than a necessary amount of money on. Hope it helps.
     
  3. billt

    billt Glendale, Arizona Active Member

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  4. ogre

    ogre Vancouver, WA Well-Known Member

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    If your silver coins have collector value they could be worth sums well in excess of the melt value. I suggest that you look at The Official Red Book A Guide Book Of United States Coins to determine their collector value. Perhaps you can find a recent copy in your city library and spare yourself a few shekels.
     
  5. Shuban

    Shuban Guest

  6. billt

    billt Glendale, Arizona Active Member

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    The site shows you realistically what silver coins are worth in comparison to the spot price of silver itself. Too many people think their coins are in fact worth more than they can actually sell them for. Silver is a very volatile commodity. Just this past Friday it dropped over $1.30 an ounce in one day. This volatility makes people reluctant to pay much over spot for common silver coinage. Coinflation prices are therefore more realistic to what you can actually sell for. The problem is silver coins are only worth what someone else is willing to pay you for them, not what some book says they're worth.
     
  7. ogre

    ogre Vancouver, WA Well-Known Member

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    That 'problem' is not limited to silver coins. I, for one, will be happy to buy pre-64, silver, U.S. collectible coins at spot prices. MS-64 and above please.
     
  8. billt

    billt Glendale, Arizona Active Member

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    That, obviously isn't going to happen. Besides, we're not talking about high grade coinage here. Most pre 64 coinage is the "coffee can" variety, not fine and proof graded collectibles. But hey, I'll give $500.00 for an original 1886 Winchester. Only engraved models please.....