Selling 40% at LCS - Q&A

[GarouLady]

Ok, dumb question but I need a range of answers to I am putting this one out there. I was thinking about selling my 40% half dollars and war nickels. I only have 3-40% and 5 war nickels and while at one LCS asked how much they were buying those coins at. The man I was talking to told me that he would give me 3 dollars for each half and 30 to 60 cents for each nickel. How is that price wise? I won't sell on Ebay because of their fees and paypal's 'lovely' fees and craigslist I haven't tried yet. So if I can get some prices everyone have sold their halves and war nickels at would be a big help. Thanks a bunch.

Hugs and Silver for everyone,
Garoulady

 

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[The_EE]

That is not good. My local shop offers $3 ea for 40% halves and $1 for each war nickel. I personally would never sell for that price.

Personally, unless you really need the cash, hold onto them. If you dont need the $17 or less why sell?

 

[Generic_Lad]

The prices are typical for a coin shop, but you can do better.

The biggest advantage to selling over Craigslist is that you are selling to collectors. Most coin shops might buy a 40%er for $3 and sell it at $6. So if a collector wants some silver it costs them over melt to buy it outright, so if you sell it at ~$5 at melt the collector will be happy to buy it from you over a coin shop because they get a better deal.

In no way does it sound like your LCS is a rip-off joint, but keep in mind they are middlemen, they have to sell it to someone else, the collector (or refiner). With that in mind, why not just sell it to the collector directly?

 

[GarouLady]

I worry about strangers coming to my house. my mom is disabled and deaf, easy prey if I am not there and I am not sure about doing business like that at my workplace. Don't have anywhere else to do business because I am constantly working. But the LCS guy suggested that since they are silver, I should keep them. He knows I am constantly buying silver and doesn't want to jip me. On a good note, Found a new LCS in town that selles ASEs for only 34.50. Not bad considering the other LCS wanted $40 for a 2012 ASE. I bought two and saved myself about 5-ish dollars. Tomorrow I plan on dumping off 200+ dollars in nickels and I am wondering if I want to go back to dimes, or just get two more boxes of nickels.

BTW, 200 dollars of nickels is bloody heavy. I am basically waddling, trying to carry those in my duffle bag without blowing my shoulders out. Makes me wonder how the high enders CRHers do 10 boxes a week. wow! God bless their strength.

thanks for the information. I appreciate it.

Hugs and Silver for everyone,
Garoulady

 

[44_Dimes]

In my opinion Ebay is your best bet besides CL. Even with the 10% and then another 2% from paypal fees people will still pay a good amount over spot for any silver. After the fees you will probably still come out fairly close to spot.

 

[SilverForBrains]

I worry about strangers coming to my house. my mom is disabled and deaf, easy prey if I am not there and I am not sure about doing business like that at my workplace. Don't have anywhere else to do business because I am constantly working. But the LCS guy suggested that since they are silver, I should keep them. He knows I am constantly buying silver and doesn't want to jip me. On a good note, Found a new LCS in town that selles ASEs for only 34.50. Not bad considering the other LCS wanted $40 for a 2012 ASE. I bought two and saved myself about 5-ish dollars. Tomorrow I plan on dumping off 200+ dollars in nickels and I am wondering if I want to go back to dimes, or just get two more boxes of nickels.

BTW, 200 dollars of nickels is bloody heavy. I am basically waddling, trying to carry those in my duffle bag without blowing my shoulders out. Makes me wonder how the high enders CRHers do 10 boxes a week. wow! God bless their strength.

thanks for the information. I appreciate it.

Hugs and Silver for everyone,
Garoulady

You can meet at a location other than your house if you sell via craigslist. I always meet in a bank parking lot, seems like the right thing to do. And that way I'm not the only guy with money on him!

 

[The_EE]

In front of a police station works as well.

 

[Dark]

Just Ebay them if you need the cash.
Even if the paypal fees were 3 times what they are it would still be more profitable than what your LCS pays.
Craigslist is nice, but not worth the trouble for small transactions.
For sales under a grand you could meet in a bank parking lot, a hotel lobby, or any public place with cameras.
For sales over a grand I recommend meeting inside a bank for the transaction. Then deposit the goods or the money in a safe deposit box before leaving so they know there is no point to robbing you.
I personally just meet wherever the seller feels comfortable, but I always bring a friend and have him wait in the car.

 

[mleblanc138]

BTW, 200 dollars of nickels is bloody heavy. I am basically waddling, trying to carry those in my duffle bag without blowing my shoulders out. Makes me wonder how the high enders CRHers do 10 boxes a week. wow! God bless their strength.

2 Nickel Boxes is 44 pounds, 6 pounds lighter than 2 Boxes of Halves, which is what I carry in my backpack every pickup/dump run. I couldn't lift my pack to shoulder height with both boxes at first though. Which brings us to a hilarious scene of me in Wells Fargo trying unsuccessfully to lift my 50 pound backpack, and then actually sitting down, putting my arms in the straps, and lifting myself with my legs. For a while, I put one box in a backpack, and the second box in a book bag that I would carry in my arms in an attempt to split the weight. Eventually, I just tried to lift the 50 pounds to my shoulders again, and it worked. Now it seems perfectly normal to carry it all on my back, it's how I get my exercise, and I even carried an extra box of Dimes once for a 62 pound pack. And I'm not some super buff guy, I'm 5'9 and weigh just a bit over 130 pounds.

As for selling the Silver, if you can accumulate $500 in Silver value or more, you can get a very good price by selling to Sell Us Your Gold & Silver Coins & Bars | Scrap Metals They're currently offering $4.52 per 40%.

 

[hotrod]

i get 10% under milt for any silver coin

 

[lovewiibrew]

My LCS pays $4 each for 40%.

 

[bigscores]

I get 92-94% of spot for my 40%ers, but I usually sell more than a couple... more like a couple rolls per go...

 

[MrSchulz]

My old crappy lcs paid $3 for 40% and $.75 for war nickels.. my new one pays 12% under spot.

 

[JobIII]

I've been buying all the 40% I can find for anywhere from $3.50 - $4.00. I think you should be able to find people paying at least this much. Asking TN for a price check is good, but you really ought to shop around your area to see which LCS will give you the best deal.

~JobIII

 

[bigscores]

I've been buying all the 40% I can find for anywhere from $3.50 - $4.00. I think you should be able to find people paying at least this much. Asking TN for a price check is good, but you really ought to shop around your area to see which LCS will give you the best deal.

~JobIII

$4 per is a great price, I get at least $90 a roll with $32 silver.

 

[GarouLady]

the prices everyone is stating is a lot better than what I am getting locally. I have one other LCS that I can call and ask them but otherwise, if I don't get a better price I probably will keep them till I get a bigger amount, especially war nickels. I checked ebay and just a handful of nickels is selling for big bucks. the same thing with 40% halves in ebay. Still don't like the fees and everything but I'll save the bridge burning for a while longer.

Thanks for all the information guys and gals. I really, really appreciate it.

Hugs and Smiles,
Garoulady

 

[sheepdog_tx]

the prices everyone is stating is a lot better than what I am getting locally. I have one other LCS that I can call and ask them but otherwise, if I don't get a better price I probably will keep them till I get a bigger amount, especially war nickels. I checked ebay and just a handful of nickels is selling for big bucks. the same thing with 40% halves in ebay. Still don't like the fees and everything but I'll save the bridge burning for a while longer.

Thanks for all the information guys and gals. I really, really appreciate it.

Hugs and Smiles,
Garoulady

Garoulady i sent you a PM, Check your inbox..

 

[Treasure_Hunter]

Unless your a charter member you can't offer to sell on the forums. If members want to do it via pm then we are not involved, but dont talk about it on the forums or post can be deleted.