What is a fair selling price?

[BuffaloBoy]

What is a good selling price or trade-in price for 40% silver half dollars?

I am going to a soin show tomorrow and I am considering trading in 40% silver half dollars either for:

Cash
Upgrade to 90%
upgrade to morgan/peace dollars
upgrade to .999

Does anybody have a fair trade in to help me out? I wil willing to trade up 100 40% silver half dollars which is equal to 14.79 oz of silver worth currently worth $506.40 at the price of $34.24 per ounce.

Thanks for any help!

The 40% silver half dollar is worth $5.06 spot melt
I do not need to sell either, and I am willing to take some loss to upgrade, but I am unknowing of what is a fair trade since I know the dealers will try to rip me off.

 

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[namster]

What is a good selling price or trade-in price for 40% silver half dollars?

I am going to a soin show tomorrow and I am considering trading in 40% silver half dollars either for:

Cash
Upgrade to 90%
upgrade to morgan/peace dollars
upgrade to .999

Does anybody have a fair trade in to help me out? I wil willing to trade up 100 40% silver half dollars which is equal to 14.79 oz of silver worth currently worth $506.40 at the price of $34.24 per ounce.

Thanks for any help!

The 40% silver half dollar is worth $5.06 spot melt
I do not need to sell either, and I am willing to take some loss to upgr
ade, but I am unknowing of what is a fair trade since I know the dealers will try to rip me off.

If you wait until you have $1000 worth you can get a better rate from a refiner I think. Best I have been offered by a dealer is $4.20

 

[BuffaloBoy]

$1,000 melt value, or $1,000 face value? i do not see myself getting $1,000 face value anytime soon

 

[namster]

$1,000 melt value, or $1,000 face value? i do not see myself getting $1,000 face value anytime soon

$1000 melt im told. I have not pursued this myself, this is what I have read.

 

[ramjet2187]

$1,000 melt value, or $1,000 face value? i do not see myself getting $1,000 face value anytime soon

$1000 melt im told. I have not pursued this myself, this is what I have read.

It's $1000 melt. Not too hard to accumulate.

As far as 'upgrading', you take a loss on the trade-in, and pay a premium for the .999. Common Morgan and Peace dollars and .90 only have melt value, so unless you can get them at a bargain, you're losing twice on that deal too. I don't really see the reasoning in trading silver (for a loss) for silver, and paying a 'premium. But if space is a factor you might want to 'consolidate'.

I'd advise 'sell' for cash and use the funds to pay down any debts you have. After all, it's a pretty good profit if you got it at face. If you eliminate any monthly payments that way, you just freed-up more cash to CRH with! If you're not in a 'monthly payment' situation, by all means use the cash to buy some .90 or .999.

Last November when silver was about $32, I got $3.90 per for some 40's, by the way.

Good luck at the show.

 

[clovis97]

How about listing them on craigslist for $5 or $6 each?

 

[BuffaloBoy]

ramjet2187, Thanks for the advise. I am saving up for a 1 oz .9999 fine GOLD buffalo proof, it's quite a large deal of money, but anything's possible

Clovis97, I am not a fan of CL, But thanks for the idea

BB

 

[ArkieBassMan]

What is a good selling price or trade-in price for 40% silver half dollars?

I am going to a soin show tomorrow and I am considering trading in 40% silver half dollars either for:

Cash
Upgrade to 90%
upgrade to morgan/peace dollars
upgrade to .999

Does anybody have a fair trade in to help me out? I wil willing to trade up 100 40% silver half dollars which is equal to 14.79 oz of silver worth currently worth $506.40 at the price of $34.24 per ounce.

Thanks for any help!

The 40% silver half dollar is worth $5.06 spot melt
I do not need to sell either, and I am willing to take some loss to upgrade, but I am unknowing of what is a fair trade since I know the dealers will try to rip me off.

For now (although I expect this to change if/when the price of silver rises to ~$75+), "junk" silver coins are usually bought and sold on a "per coin" basis, not weight. So technically that nearly worn smooth Walker (weighs 11.1g) that I have is worth the same as the other common date Walkers I have that weigh closer to the 12.5g that they should weigh. My first piece of advice is that if you are selling, sell off any worn coins that you have first while they are still bought and sold on a "per coin" basis and not weight.

Next, no dealer can "rip you off" as you will not be forced to sell. Not all dealers are created equally. A big volume dealer can and often will offer better prices than a small volume dealer. Just like Wal-Mart can both buy and therefore sell things more cheaply than a small "Mom and Pop" type store. That small dealer has to make more profit per item to pay expenses and turn a profit. That big dealer can make less per coin and still turn a profit as he/she buys and sells many more coins than the small dealer. Therefore, there really is no such thing as a "fair" offer. Its all just business anyway. In business, you want to buy as cheaply as possible and sell for as much as possible. You can't fault anyone for that.

Next, I have to ask your reason for wanting to trade. If you CRH primarily for profit, then it makes absolutely no sense to trade 40% for 90% or .999, unless maybe as others have stated, you have no storage room for any more 40%. You are likely going to take a hit on your 40% while paying full retail price for the 90% and/or .999. You are just giving away silver. On the other hand, if you consider yourself more collector than profiteer (not sure thats even a word), then by all means trade what you have for what you want.

If you decide you want to trade, then you'll likely get a better deal by not trading with the same dealer. Selling to one but buying from another USUALLY gets you a better deal. Here's an example of what I mean: You find a dealer that is selling "junk" Morgan silver dollars for $32 each. He offers you $4 each for your 40% which is exactly 8 40%ers per Morgan. However, you might haggle that same dealer down to $300 for 10 Morgans ($30 each) if you're paying cash. Find another dealer paying $4 per 40% to sell to, and now you're only trading 7.5 40% per Morgan. Just like if you're trading in a used car to buy a new one. Generally, you'll come out money ahead by selling your used car to a private party and paying the dealer cash for the car instead of trading it in. Unless you find a dealer paying WAY above average, I'd guess that (since you want to avoid things like Craigslist), your absolute best value will be to sell your 40% to someone like APMEX or Provident Metals, and then take the cash to the coin show to buy what you want. From what I have read on this forum, the big metal exchanges pay ~94% of spot, but you will have shipping charges take away from that a bit. Dealers at coins shows seem to typically pay 75-85% of spot - although yours could be different.

"Shopping around" takes time. If you sell to one of the big metal exchanges it will likely be a matter of weeks before you have "check in hand." Only you can decide if the money saved is worth the time spent. Its really convenient to just walk into a coin show, coin shop, or even pawn shop, with what you have and walk out with what you want, even though that might not be your absolute best option value wise. Is the convenience worth the money? Only you can decide that. Bottom line: If you're happy with the deal - regardless of what it is - then it was a good deal. Simple as that. Best of luck!

 

[jrf30]

You don't need to go through all that, or have $1,000 face.

Right now, today, on bulliondirect.com, you can get about $95 for $10 face of 40% silver. that's $4.75 per coin. Then, they take 1% as their commission. That's .00475, leaving you with $4.7025 per coin. take some shipping cost, which isn'tmuch in a flat rate box, and you are down to about $4.64 net per coin. Very reliable, fast service, open all day every day on their trading system, and it sure beats hearing things like $4.20 per coin. Just go to the site, go to nucleo, hit silver, and put an order in at $95 per $10 face to sell. YOU'll probably be done with all you have by the end of the day today.

 

[GEOFF]

+1 Arkie
+1 Jrf

 

[quiksilver]

depends where you live and the amount of competition for your coins. Generally the best price i can get is about 9% less then spot at a good coin show.

 

[FingerGrime]

Personally, I would trade them in for some high quality collectible coins.

 

[MIhunter]

I have posted several times that I think sellling silver coins to buy other silver coins is a waste.

No matter what deal you get the person you deal with has to make money.
What do you gain by selling? There is no need to diversify from one type of silver to the next.

Suggestion: If you are going to sell some 40% halves, buy gold.
Most CRHers like myself, have a lot more silver than gold.

Just my 2 cents!!

 

[sack0silver]

Provident Metals currently is paying out $9.56 for $1 Face of 40% halves. From what I understand they provide you with free postage, so you just have to get a box and insurance if you chose.

Sell To Us Price: $9.56
Note the minimum amount to sell is $250.

Not sure if that is FV or SV, but give them a call and see what they say. Maybe check APMEX or any other reputable online dealer.

 

[BuffaloBoy]

I ended up selling at $4.55 each, that seemed fair to me.
Sold 100x 40% silver halves for $455.00, and it is nice to have that extra cash

I spoke to a friend who's business is to buy and sell collections of coins/jewlery, as well as estates and such. He said it is fair.
I was not going to kill myself searching to make another $10 or so.

I had offers of $3.00 per, $3.50 per, and $4.55 per at the local coin show.
I also picked up a uncirculated 1982-d George washington 250th annaversery of birth 90% silver commemorative half dollar for $14, so I think i did quite well.

Opinions?
Thanks all for the helpful comments!
BB

 

[Gooseman]

BB,

I think that was a fair price at a coin show, actually kind of surpised you got that much at a show. With a little work you may have been able get $10.00 or so more from Provident, or Bullion Direct, but this was instant cash. If you are happy that is all that matters. Anything else other than the Washington Half from the show??

Jeff

 

[ArkieBassMan]

I ended up selling at $4.55 each, that seemed fair to me.
Sold 100x 40% silver halves for $455.00, and it is nice to have that extra cash

I spoke to a friend who's business is to buy and sell collections of coins/jewlery, as well as estates and such. He said it is fair.
I was not going to kill myself searching to make another $10 or so.

I had offers of $3.00 per, $3.50 per, and $4.55 per at the local coin show.
I also picked up a uncirculated 1982-d George washington 250th annaversery of birth 90% silver commemorative half dollar for $14, so I think i did quite well.

Opinions?
Thanks all for the helpful comments!
BB

I would have done the same had I been looking to sell 100 40%ers. $4.55 would have been "close enough" for me as well. I probably wouldn't have bought the GW commem, but only because I have been lucky enough to find 3 of them so far, $14 is full "book" value, and I'm primarily a bargain hunter. If I didn't already own one but wanted it, I would have bought it without hesitation.

Just out of curiosity, what were things like "junk" Walkers, Bens, Morgans, etc. selling for?

 

[BuffaloBoy]

Thanks for the words,
I bought the 1982d 90% silver washington half dollar for my Dansco 7070 type album, I always loved the coin and figured this:

**Hope everybody gets this logic** (realistically I still paid $14) - but in my perspective.

I paid roughly $1.50 for the 90% silver commemorative half dollar
How?
I sold each 40%er for $4.55 each.
$4.55*3=$13.65.
Not a bad deal on my book, 3 CRH'ed 40% halves basically for an uncirculated 90% silver proof commemorative

I did not notice the price of junk silver, but this silver commem was in a box of "junk silver 10% above spot" bin, this was amongst war nickels, 40% bicentennial halves, and regular 40% halves with the occasional merc or roosie(trying to rip somebody off).