Morgans, silver halves, and the coin dealer

[fistfulladirt]

Went down to my local coin dealer to buy a few bulk Morgan dollars. I planned on trading up with my 40% halves, 6 full rolls worth.
I thought the quote was $1.75 ea. What he meant was $1.75 per face dollar.
I skipped on that as I felt that I'd worked too hard for 'em.
While I was there, a lady came in and sold some sterling ware.
Another older lady came in and I watched the transaction of 7-8 rolls of WL, Franklin, and Kennedy halves, and about 15 rolls of silver dimes change hands for probably 40% of value.
I know that the dealers have to make a profit.
It sure was fun watching the stuff come in.
I paid $15 each for some really nice Morgans, many in the 1880's.

Called another dealer, I specified PER 40% half coin, and he quoted $1.85 per coin.

AMC

 

Amazon Forum Fav 👍

Agony and Death on a Gold Rush Steamer: The Disastrous Sinking of the Side-Wheeler Yankee Blade - Grab it through Amazon!

[jim4silver]

AMC,


Sounds like you got a good deal on the Morgans. His price for your 40s was way too low. You were smart to walk away from that deal.

1.85 sounds decent based on the low silver prices now. Good time to buy, bad time to sell it seems.

Jim

 

[Historyhound]

Actual value as of 7PM today for 40% halves is $2.42 each. Or $4.84 per dollar face. That 2nd dealer was at about the right margin that would be considered just about fair for both parties.

 

[Scalper]

Damn AMC, I would have been drooling looking at those 7-8 rolls and those dimes Congrats on picking up those Morgans they are beautiful coins ... I would say 1.75 is not a bad price , on Ebay some of them are still pushing about 2.00 ea. by the roll but then less fees, paypal etc. it prolly all equals out ... Ed

 

[fistfulladirt]

Thanks Scalper

Actually, the first dealer would be paying 87.5 cents each per 40% silver half.

I was offered $105 for 120 halves.


AMC

 

[Scalper]

No problem AMC, dont like to see people hoodwinked outta their keepers .... yeah I caught that one the first dealer , he is hitting the crackpipe too hard ... sorry I meant to post $1.85 ea/ from that 2nd dealer that sounds fair...

 

[LJ]

I think $15 for a Morgan in really good condition is a very good deal!! Congrats. I really like the Morgan dollar.....my favorite dollar coin.

Yeah...keep one eye open on those coin dealers.....lol.

 

[jewelerdave]

The key to remember is this. If you can get a good deal from someone, they are probably not the best person to sell too as most dealers have a margin they try to follow

 

[theeteetotaler]

if you're not in a total pinch for immediate cash when selling, check out bullion direct's nucleo exchange, their current bid prices are 90% (or more) of the current spot. They've only got a 1% commission on buying or selling, a heck of a lot better than ebay. currently 40% halves are going for 4.3-4.4x face.