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 RobertSenior Member
Posts: 896
Joined: 05 Jul 2003
Location: Oklahoma
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 Posted: Wed Jun 24, 2009 6:23 pm |
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Looking for advice for a friend. He just inherited a small hoard (100 or so) of raw silver dollars, supposedly in nice condition. He's making a list of dates/mint marks but is not a collector and so is a little vague on grading.
My advice to him was to buy/borrow a grading book and try to gauge their grades. Then he needs to get a Graysheet and separate the really nice/higher valued ones from the more common ones. Then I said to take all the coins to several dealers in town and shop around, focusing on the higher valued coins, and sell to the highest bidder. I also said that there are major shows throughout the year, so perhaps he could "shop around" at a show.
What say you... is my advice good? Would you do something else?
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 eagamesExpert Member
Posts: 3013
Joined: 15 Nov 2005
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| Posted: Thu Jun 25, 2009 12:27 am |
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Sounds like good advice.
Maybe after he checks for anything rare or high grades he should group all the common stuff and sell it as a lot.
If you find the right dealers even common ugly silver dollars go for $12-15 which is better than the rate for other 90%.
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Ed
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 MorgansRmineAdvanced Member
Posts: 132
Joined: 12 Apr 2009
Location: Raleigh, North Carolina
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| Posted: Thu Jun 25, 2009 5:18 am |
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Being a 50+ years Morgan collector, I hate to see someone who knows little about them selling them off at bulk. Even common dates, Vammed properly, could make a difference of a hundred dollars or more per coin. Is there a local coin club nearby? Club members tend to be very helpful in identifying coins and may be interested in buying them at a fair price.
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 coopExpert Member
Posts: 3402
Joined: 17 Sep 2003
Location: Arizona
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| Posted: Thu Jun 25, 2009 2:11 pm |
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My advice: Get rid of the dollars and buy Cents. that's been my motto.
_________________
Richard S. Cooper
You may be only one person in the world, but you may also be the world to one person.
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 smedSenior Member
Posts: 624
Joined: 21 Oct 2003
Location: Zephyrhills Florida
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| Posted: Thu Jun 25, 2009 5:25 pm |
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Unless there's a key date or a CC, all a dealer's gonna do is give him $11-12 a coin... if that much. And that's if your friend points it out.
_________________
Life Member American Numismatic Association (ANA), Pensacola Numismatic Society
Life Member American Veterans (AmVets), Veterans of Foreign Wars (VFW), Fleet Reserve Association (FRA)
Member Loyal Order of Moose
Member American Legion
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 DickExpert Member
Posts: 5780
Joined: 21 Sep 2006
Location: Rialto, CA.
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| Posted: Thu Jun 25, 2009 5:47 pm |
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Right!, and if he is lucky, the batch won't "go for melt value"! Mint marks, key dates, VAM's etc, have no value in "melt"! That is if the recycler is not a collector, himself!
Dick
_________________
" Deja Moo: The feeling that you've heard this bull before".
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RobertSenior Member
Posts: 896
Joined: 05 Jul 2003
Location: Oklahoma
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| Posted: Mon Jul 20, 2009 6:07 pm |
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Would anyone recommend selling them on ebay or other site? Seems like there is a lot of overhead there, plus the potential for bad transactions.
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DickExpert Member
Posts: 5780
Joined: 21 Sep 2006
Location: Rialto, CA.
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| Posted: Mon Jul 20, 2009 6:59 pm |
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I wonder if he ever heard of "just saving them"? that is what I would do. They didn't cost him anything, so what is there to lose? Thet are always worth melt value, and silver is slowly going up.
Dick
_________________
" Deja Moo: The feeling that you've heard this bull before".
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