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Fair price for bulk silver dollars

Started by erwindoc,

9 posts in this topic

erwindoc

erwindoc

Posted
Posted

I have the opportunity to buy a large group(several hundred) of silver dollars. They vary in condition from VG to low MS. What would be a fair offer to the seller and to me as a buyer? I didn't look at them all, but Id be surprised if there were any key dates in the group.

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RWB

RWB

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Posted

(Too many of these dollar lots are filled with badly worn or damaged coins. These will weigh less than an EF or better coin. That means you have to calculate value on silver weight of the lot not the number of pieces.)

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AlanT.-migration

AlanT.-migration

Posted
Posted
(Too many of these dollar lots are filled with badly worn or damaged coins. These will weigh less than an EF or better coin. That means you have to calculate value on silver weight of the lot not the number of pieces.)

 

I agree.

 

I'm sure that there is nothing of value there. Why doesn't he just dump it for the spot price somewhere local?

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FishyOne

FishyOne

Posted
Posted
I have the opportunity to buy a large group(several hundred) of silver dollars. They vary in condition from VG to low MS. What would be a fair offer to the seller and to me as a buyer? I didn't look at them all, but Id be surprised if there were any key dates in the group.

 

Several hundred is not a huge number. If you (and the seller) know they are VG to MS then I can't see how you could expect to buy them for melt. Perhaps it's a starting point for negotiations but I've never found U.S. silver dollars for melt.

 

You could easily sort a 300 piece group to ensure there are no damaged or cull pieces in 30 minutes. From there you could make a reasonable offer. Current melt value on a full weight S$1 is $14.94. Peace dollars in VG have a current wholesale bid price on APMEX of $21.92/ea. Pre-1921 Morgans in VG are at $27.91.

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messydesk

messydesk

Posted
Posted
You could easily sort a 300 piece group to ensure there are no damaged or cull pieces in 30 minutes. From there you could make a reasonable offer. Current melt value on a full weight S$1 is $14.94. Peace dollars in VG have a current wholesale bid price on APMEX of $21.92/ea. Pre-1921 Morgans in VG are at $27.91.

This. Fair to both of you would be paying APMEX's buy price. You would get them at wholesale and the seller wouldn't have to pay for any shipping to get a market buy price.

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MarkFeld

MarkFeld

Posted
Posted
(Too many of these dollar lots are filled with badly worn or damaged coins. These will weigh less than an EF or better coin. That means you have to calculate value on silver weight of the lot not the number of pieces.)

 

I agree.

 

I'm sure that there is nothing of value there. Why doesn't he just dump it for the spot price somewhere local?

 

Probably because they are worth a fairly hefty premium over their bullion value - easily $20+ per coin, compared to their approximate $14.50 silver content.

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Elbesaar

Elbesaar

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Posted

 

Hey erwindoc, I see you did some research on the large holding we

spoke of, I told you it would be a can of worms. You're a good guy

to help them out.

 

Nothing worth discussing (rarity wise ) I would assume ? Too bad, I

was hoping to hear the collector who passed had sets of Liberty Head

and Buffalo Nickels stashed away.

 

Any Barbers worth discussing ?

 

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