lots of silver coins

[Bhodge]

Not sure if this is in the correct spot so please move if need be....I got a call from the bank today saying that they had a "crap load" of silver coins and if i wanted I could have them all. I bought all I could afford at the time. I looked online at the silver value, and the "Coin World 2009" guide and tried to price the 200 washington silver quarters that i have, all different dates. I am a part time collector so I dont know alot of values or even where i could sell them. I bought them knowing that I could keep them and give them to my daughter (15 months) when she grows up. I felt that if I could get silver value then I could do that.
I have 100 Franklin halves, 95 Walking Libertys, 200 Silver Washingtons, 100 Mercury Dimes, and about 80 Rosies. basically I wanting to know the following
(note, i know that condition and date play a significant role in value, given that they are in ok condition and that there are NOT any rare coins)

1. How much value do each specific value of coin have?
2. How would I sell them? Collector, or for silver value?
3. What rare coins should I be looking for in my new collection? I havent been able to review them all today, I just got them.

There are still $200 worth of Silver Washington Quarters that I couldnt get. The teller said she'd hold til Friday if I wanted more.

So, with criticism, please advise me what you would do. I planned on keeping them but thought I would check out other options.

Billy

 

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[72cheyenne]

Wow, that is a great haul. Lets do a little math. If I added right you have $165.50 face value in 90% silver coins. As of today, 9/22/09, silver close at $17.17 an ounce, which brings the silver bullion value to about $2031.00 bucks!! What a great haul. I'm assuming you only paid face value. Some dealers will pay you up to 80% of bullion, so still wow. Even at 50% bullion, wow. Anyways, go back and get the $200 dollars worth of quarters, then you will have almost $4500.00 bucks in silver bullion value.

Here's how each coin stacks up in silver bullion based on $17.17 per ounce.

Half dollar = $6.13 bullion value
Quarter = $3.07 bullion
Dime = $1.22

 

[72cheyenne]

And to answer your third question as to what coins to look for.

Mercury Dimes = 1916-d, 1921, 1921-d, 1926-s, 1931-d, 1942 over 41, 1942 over 41-d

Roosevelt Dimes = 1949-s, 1950-s (not really key dates, but still have low mintages)

Washington Quarters = 1932-d, 1932-s, and several double die varieties (too many to list)

Franklin Halves = no key dates, but uncirculated ones with full bell lines command premiums

Walker Halves = 1916, 1916-d, 1916-s, 1917-d obverse mint mark, 1917-s obverse mint mark, 1919, 1919-d, 1919-s, 1921, 1921-d, 1921-s, 1938-d

That should give you a good idea. All the coins I listed command a higher than bullion value, also any coins, even the common date ones that appear to be uncirculated can command premiums. Once again, great haul and I am very envious.

 

[ivan salis]

roughly put at scrap prices -- halves $6 each for 90% ers --1964 and before -quarters $3 each --1964 and before ---dimes $1.20 each --1964 and before roughly put at current prices its 12 times its "face value" at scrap silver price --silver "scrap" dealers will offer less say 8 times face value leeping the other 1/3rd -- 4 x value as their cut and as a cushion in case it slips back a bit before they cash out to the refiners, sell 25 bucks face value wize worth of the most worn or common date "low value" type silver at say 8 times face or better ( that way you can get 200 bucks and then get the other 200 bucks worth of silver quarters thats worth $2400 bucks thats left in the bank at face value at not cost to you ) -- and of course do not forget to get your teller a nice thank you gift.

money invested at face value
50.00 in franklins
47.50 in walkers
25.00 in washington Q
10.00 in mercs
8.00 in rosies
total $ 140 .50 invested --- if you sell enough to cover your cost so far and yeild the $200 cash you need to get the other quarters still left at the bank ------ sell some of the most worn common date stuff at 8 times face to a dealer -- say $50 dollars of silver at 8 times face value is 400 bucks* thus replacing your starting cash ($140.50) allowing you to buy the others ($200) and being able to get a nice gift for the teller say 20 - bucks and take wife/ girl freind or self out for a bite (39.50) and allow you to hoard the rest for free -- since its money it will never lose its"face" value worth no matter what silver does -- the upside is silver keeps going up --if done smartly its free money / silver at no cost to you.

with the starting cash back in the household budget * no wife or others issue --- since you can look at them and go heres the cash I started with (so I'm not "shorting the house")--and heres my "free money" / silver I earned --and your issue is what ?

 

[VERMONTPACKRAT]

I think you owe the bank employee that called you a fruit basket


VPR

 

[jasper62]

Bhodge
This sight will help on a daily basis.it keeps track of the current price
http://www.coinflation.com/coins/silver_coin_calculator.html

 

[ivan salis]

the main page here keeps track on silver value --under metals

 

[Bhodge]

thanks for the help, i believe it was $300 of Silver Quarters left, I plan to go back in the morning and get them. IF I was wanting to sell them for silver where would i begin to look?

 

[72cheyenne]

thanks for the help, i believe it was $300 of Silver Quarters left, I plan to go back in the morning and get them. IF I was wanting to sell them for silver where would i begin to look?

Most pawn shops by silver and gold, but usually will try to lowball you. Some coin dealers can be the same way. You need to have a figure in your head that you will take no less than. If they offer more than that figure, then go for it. If they offer less, then you can counter offer their offer. The worst they can say is no to your price and you still have lost nothing! Like ivan said, I would accept no less than 2/3 of silver bullion value and would prefer 3/4 bullion value. I had a coin dealer here in Arkansas recently buy a common date mercury dime hoard from me. He gave me 80 cents each for them, and that was when silver was around $14 an ounce.

 

[Bhodge]

Tomorrow i got and get the other silver

 

[Bhodge]

after i get the rest of the silver quarters tomorrow i will go thru them all and give you dates of each one that i have so on and so forth and let you tell me what you think i should take for the ones i want to sell if i decide to sell them. I really appreciate everyones input on this. I know a good thing when i come across it.

 

[ivan salis]

buying silver at face value when its 12 times face value silver content wize for pre 1964 coins (90%) (currently around $17 an oz) is a no brainer . since it can not drop below face value theres no way you can lose on this deal --its a very very rare chance you've been given ---sell what you need to at no less than 8 times face value --say $62.50 face value worth of common date / highly worn coins at the very least 8 times face --thats $500 cash -- first replace your start up cash --$140 .50 that way your fiscally even---from your profiets use $300 to get the quarters at the bank ( which at $3 each silver quarter x 1200 quarters ($300 x 4 quarters per $1 = 1200 x $3 each silver value ) is $3,600 bucks!! ( heck even at 8 time face sell price thats $2400) -- plus you will still have $59.50 to the good ( frankly I think the teller that tipped you should get a $50 myself ) even taking out the 62.50 in silver from the current $140.50 would leave you $78.00 from your current silver plus the extra 300 in quarters -- not bad $378 in "free silver" at say 8 times face -- a tidy $3,024 if you choose to quick turn it (sell in $62.50 silver = $500 units to avoid tax paperwork hassles ) or you can just sit on it , for a rainy day fund since its free --and it can not drop below its $378 dollar face value .

 

[hunterken]

Wow what a deal!!!

 

[allen]

make sure to buy all of them.

 

[Bhodge]

Update, went back and bought the rest of the silver quarters. $300 of them. ($400 total in quarters) I went thru them all and found apprx $60 that were just normal quarters (1965 and newer).
So in all, I have approx-----
1360 silver washington quarters
190 Rosies
190 Mercs
95 Franklin halves
95 Walking Lib halves
16 Standing Lib quarters
1 barber quarter (1908)
Approx total in coins-----1,947 total coins About $600 invested. I took back some other coins I had that didnt have as much value and "traded up" So, I can say I am very happy about my investment. Approx value (depending on Silver price) is somewhere between $4000-$6000. Its hard to tell whats worth what, there are dates and conditions and then theres just the silver price. So I basically have NO IDEA what i am going to do...feel free to make suggestions.

 

[Diver_Down]

So I basically have NO IDEA what i am going to do...feel free to make suggestions.

So long as you are in no hurry to recoup your investment, I would buy a current Red Book available at Barnes and Nobles. In there, it will provide guidelines for you to grade the coins yourself. It will also include the mintages and the current value. Consider the value listed as the "Retail" price. It will not be the price a dealer will pay. Take your time and cherrypick. I would then sell rolls or mixed lots on eBay. You'll do well.

 

[Bhodge]

I will try to go thru the coins and get some idea of what i have based on year etc. But i have over 1300 silver washington quarters. Its alot to go thru. Theres still all the walkers, franklins and tons of dimes. Thanks for all the help. I am hoping to be able to get some pics for you.

 

[ivan salis]

to regain your $600 investment -- sell $75 dollars worth of silver (highly worn / common date "cull" coins)-- buy a" red book" coin collectors book --the prices reflect what you should expect to pay a coin dealer for the coin --not what he pays ( normal 50 to 60% of "book price"is their offer to buy or about 2/3rds of scrap silver value spot price -- however it will tell you which years are low mintage and "rare" coins vs common date stuff --also a coins condition matters greatly --BUT do not clean them-- period!! ) get at least 8 times face value which is about 2/3rds of the "full" spot silver price of $17 per oz ( equal to 12x times face value)-- the rest is gravy to do as you please with as you choose * --that what theres no way you can "lose"--since the$600 in start up money / household cash is back in place -- thus its all "upside" from there.

you fell into a CRH ers dream -- be sure to tip the teller at least $50 or a gift worth that much --to keep them "freindly" in the future -- never know when another "jackpot" might roll in -- but they are few and far between normally-- I'm sure you know that of course.

 

[DAS7NY]

Dude post this in the Coin Roll Hunting section and people will drool over this! Great find!

 

[Diver_Down]

I will try to go thru the coins and get some idea of what i have based on year etc. But i have over 1300 silver washington quarters. Its alot to go thru. Theres still all the walkers, franklins and tons of dimes. Thanks for all the help. I am hoping to be able to get some pics for you.

Quickest way to get an idea of what you have is to "eyeball" the coins and set aside the ones that look to be the best. These are your first keepers. Second, look at the Red Book or Google to determine the key and semi-key dates of the series. These are your second keepers regardless of condition. Third, pull the ones that have a higher mintage and you have multiples of. These are your "Junk Silver". You'll sell these. Sell them on eBay or here on TNet. Forget about the dealers. They won't give you near what they are worth.

Start by going through the Franklins, Rosies, and Washington Qtrs. These will be the easiest.