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What's a reasonable asking price for dug silver coins?

Posted by Dan(NM) 
What's a reasonable asking price for dug silver coins?
February 17, 2022 10:36PM
I have close to 500 silver coins I'm thinking about selling. I am trying to get an idea of what is a reasonable asking price for dimes, quarters, half dollars and a few Morgan's. Thank you for any input you're able to offer.



Edited 1 time(s). Last edit at 02/17/2022 10:59PM by Dan(NM).
Re: What's a reasonable asking price for dug silver coins?
February 17, 2022 11:14PM
Dan(NM) Wrote:
-------------------------------------------------------
> I have close to 500 silver coins I'm thinking abou
> t selling. I am trying to get an idea of what is a
> reasonable asking price for dimes, quarters, half
> dollars and a few Morgan's. Thank you for any inpu
> t you're able to offer.


Depends on if their scrap or not. I used to buy some from my hunt partner when silver was around $12/OZ, but they were simply scrap based on their condition (he flips any with value on fleabay I believe).

If any of them don't have environmental damage and are good dates/mint marks, maybe fleabay?
Re: What's a reasonable asking price for dug silver coins?
February 17, 2022 11:19PM
Minus key dates.....scrap value
Re: What's a reasonable asking price for dug silver coins?
February 17, 2022 11:21PM
Take 90% of spot silver, that's the dream price. Coin dealers will offer 50-65% of this, dug coins will be on the lower end. You can probably get more on eBay but after subtracting eBay fees you may not be much ahead. All assuming what you have is "junk silver," that is, average circulated coins.
Re: What's a reasonable asking price for dug silver coins?
February 17, 2022 11:33PM
Ok, thanks guys, I appreciate it!!
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 12:07AM
Gold & silver has taken a spike up Dan.---Might be a good thing to hang onto it for awhile.----Gold is over $1900 per oz. the last time I looked today.-----Del
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 12:30AM
You can get 90% of spot price for scrap melt with Midwestern Refineries: [www.midwestrefineries.com]
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 01:04AM
Cal_cobra Wrote:
-------------------------------------------------------
> You can get 90% of spot price for scrap melt with
> Midwestern Refineries: [www.midwestrefineri]
> es.com/


Thanks for the link Cal.
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 01:46AM
Cal_cobra Wrote:
-------------------------------------------------------
> You can get 90% of spot price for scrap melt with
> Midwestern Refineries: [www.midwestrefineri]
> es.com/


Good link.

And bear in mind that worn coins are slightly lighter than non-circulated coins. So don't make the mistake of multiplying through the calculators that estimate based on the mint weight.
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 02:01AM
Thanks Tom, Total weight is 55 ounces of .90 silver.
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 12:36PM
Send to a refinery ..... someone like Midwest they pay 90% spot. BUT if you can find someone in the area willing to pay you 80% you maybe better off simply because they will weigh it and there isnt any argument over weight and you avoid shipping costs. The problem now days is coin collection has become big business so they beat you down.... its got to be perfect and a lot of times graded which costs money. Those that the coin books say have a pretty good value you might sell for more on marketplace or fleabay because people still like to complete a set.
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 02:14PM
Around here, i know several individuals that have a standing offer to pay Kitco spot at any given moment for silver and gold. They are mostly older folks who are into preparedness.

I agree that ebay fees (and policies!!!- those idiots demand access to your bank account to sell there now) make selling there impractical.
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 08:36PM
Champ Ferguson Wrote:
-------------------------------------------------------
> Around here, i know several individuals that have
> a standing offer to pay Kitco spot at any given mo
> ment for silver and gold.


Yes. If you have direct contact with a consumer/investor on the "buying" end of the spectrum, then yes, you can knock out the 10% middle-man between yourselves. Some people trust their investments to physical gold and silver (that I guess they "put under their mattress"). And if they have to buy from a brick & mortar store, they'll pay a slight "cut" percentage. Thus they would probably prefer to buy direct, and skip the middle-man. Same for the seller : If we can sell at 100% of the "spot price", then that beats 90% or 95% of spot price, eh ? smileys with beer
Re: What's a reasonable asking price for dug silver coins?
February 18, 2022 11:36PM
Dan(NM) Wrote:
-------------------------------------------------------
> I have close to 500 silver coins I'm thinking abou
> t selling. I am trying to get an idea of what is a
> reasonable asking price for dimes, quarters, half
> dollars and a few Morgan's. Thank you for any inpu
> t you're able to offer.

You might contact some of the large organized hunt organizations like Garrett, etc. They put on big annual "silver" hunts and are probably always looking for silver coins. Don't have any idea of what to charge. or what they're willing to pay, but one benefit is giving someone else the opportunity to dig some silver when they go to these hunts. TAMDC (Texas Association of Metal Detector Clubs), put on their annual "Texas Treasure Show" and hunt. Might be a good one to contact.

Anyway, just some ideas that came to mind, instead of seeing more silver coins melted...
Re: What's a reasonable asking price for dug silver coins?
February 19, 2022 12:39AM
I was able to sell the coins to a fellow detectorist who will sell some to a club and keep the rest as an investment, thanks for the advise guys.
Re: What's a reasonable asking price for dug silver coins?
February 19, 2022 02:00PM
Congrats, Dan! Always good for both parties when you can cut out the middleman.
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