New Member here with a few questions

[tommyboy72]

Hi, I am new to all of this, I have read every post on here about coin roll hunting, and I have a few questions, first is there a good rule of thumb on how much to pay for a silver coin? what I mean is I Have a few friends that work as cashiers at several local retail business' and they are willing to watch out for silver coins for me and I need to know what is a fair price to offer them for silver dimes, silver quarters, and 90% halves and 40% halves. I know silver is down and all but what I am curious about is there a good rule of thumb to buying silver coins? for instance: 3 times face value, 10 times face value? etc. any help you guys could give me would be great. thanks in advance!!!!

p.s. i am going to hit all my local banks for dimes, quarters, and half dollar coin rolls tomorrow!!!!!!

 

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[Bjorn_MD]

You could match the prices that local dealers are willing to give. And because this fluctuates as the silver prices changes, you won't find a N-times face that withstands the test of time. Some dealers will buy for a certain percent below "spot". If you are in it for the long haul, anywhere under or near spot, you'll be looking good in the years to come.

Get familiar with the price of silver via coinflation.com. A great resource for you to quote to your friends.

 

[BBcardsRI]

Coinflation is pretty good for value of silver in coins, though the price they use for spot is sometimes up to a few hours old. http://www.kitco.com/charts/livesilver.html is a great site for up to date spot prices.

As far as what you should pay... if they have A LOT of the stuff... like a roll of dimes or something, you should have them call a dealer and see what they will get for them, and then you pay MORE than the dealer. Doing it that way, you STILL pay less than if you were to buy that same, or any roll of dimes from a dealer as opposed to your friend.

However, if they only have like one dime at a time, or even like a couple of them, then it is a lot easier and makes you looks a lot less like a bum if you offer only a couple times face value. Trading them a clad quarter for a silver dime for example. That kind of offer on a whole roll is LOW, and you don't want to short your friends, but for only a dime or two, it is fair in my opinion. And if they ever question you why you only paid them like 2.5 face when they are worth like say... 10 times face... you can just reply "have fun wasting gas finding a dealer who wants to buy a single silver dime" or something similar.

~Dave

 

[TxTim]

If they're truly your friends, 1 X face + 1 beer.