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Author Topic: What's silver going for these days?  (Read 76 times)

WithoutAPaddle

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What's silver going for these days?
« on: October 03, 2018, 04:04 PM NHFT »

I just found a stash of about thirty 1964 quarters, excellent condition, for all the difference that makes to melters, as well as two sealed Englehard 1 troy ounce sealed .999+ pure mini silver "ingots" or bars.  I think I got paid about $20 each for some, shall we say, non-numismatic (according to spell check) Morgans back around 2012, so can I figure that these 1960s silver quarters are each worth one fourth the current Morgan price?

I also have a couple of 2000 gold clad Unc. dollars, but I see that Littleton Coin sells them for $4.95 each.  They used to advertise in Boy's Life in the 1960s, when you could put together your own complete set of post-WW2 Lincoln pennies just from pocket change.

Anyway, I just e-mailed the owner of the coin shop where I had hawked the Morgans a few years back, with the list, so I wouldn't be at as big a disadvantage as I was last time around when I took a few dollars less for each than I was expecting, and while he replied promptly, his response was, "Come on down!", and he was probably licking his chops while typing it.  There is another coin dealer just three blocks away in this metropolitan area, but this isn't exactly enough money for me to go back and forth with them, so basically, I'll either sell to the first guy, or then walk and sell to the second guy, regardless if his offers are any higher or even as much.
« Last Edit: October 06, 2018, 08:38 AM NHFT by WithoutAPaddle »
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Tom Sawyer

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Re: What's silver going for these days?
« Reply #1 on: October 03, 2018, 05:47 PM NHFT »

I wish my parents had invested in some silver change for me when I was little. Man that would have worked out well.
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WithoutAPaddle

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Re: What's silver going for these days?
« Reply #2 on: October 03, 2018, 05:50 PM NHFT »

I wish my parents had invested in some silver change for me when I was little. Man that would have worked out well.

Mine didn't plan to.  They just died before they spent it.
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Jim Johnson

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Re: What's silver going for these days?
« Reply #3 on: October 03, 2018, 06:43 PM NHFT »

$14.77 an oz
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WithoutAPaddle

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Re: What's silver going for these days?
« Reply #4 on: October 03, 2018, 09:24 PM NHFT »

$14.77 an oz

Yeah, I know the metals price, but I was wondering what the ballpark "inconvenience" discount entailed in selling impure coins that have to be smelted to separate the metals is, and then, the coin dealer needs to make his profit, and if he thinks he has me by the balls...

When I sold some Morgans for $20 each, it might have been back in 2012, and while the price of silver jumps up and down, it likely was over $30 an ounce, so when you figure that the Morgans are 90% silver, there still must have been at least $27 worth of silver.  Someone told me I got taken, but he says that to everyone about everything.  Realistically, when you're selling something for a hundred bucks and you think the guy you are negotiating with is a few dollars low, basically he has you because it just isn't worth your time to go elsewhere to salvage a few dollars difference.

I sent a list of what I had to the same dealer I had sold to last time, explaining that since each item was either melt or Unc, he should be able to quote me, sight unseen, but his polite reply said yes, he is willing to buy all of it, which is a useless answer, so I guess I'll try contacting his local competitor by phone before I drive over there, but unfortunately, I now see that silver is selling for half what it as six years ago so I didn't sell high, like I was supposed to.  At $14 an ounce I might as well hold.


« Last Edit: October 05, 2018, 11:58 AM NHFT by WithoutAPaddle »
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WithoutAPaddle

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Re: What's silver going for these days?
« Reply #5 on: October 04, 2018, 07:31 PM NHFT »

$14.77 an oz

Day of learning.  I got $14 each for the 1 oz .999+ pure sealed bars which surprised me, but in retrospect, maybe it shouldn't have since the $14.77 price may be for silver that is less pure and needs further refinement and processing.

As for the thirty, 1964 Washington Quarters. they have $2.63 worth of silver in them today. and I got someone to give me $2.25 each which seems like a fair discount for the processing that will have to be done to them: about 14%.  But I did violate the smart trading maxim of selling high, because I see that the wholesale metals price was about two and a half times as high when I first acquired them as it is now.  I guess I'll never be a Ferengi.  Plus, my ears are too big.
« Last Edit: October 04, 2018, 07:34 PM NHFT by WithoutAPaddle »
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