Coin collecting

[dave5710]

Since most metal detectorists are coin collectors I hope this appropriate here. I wanted some feedback on selling coins. I know alot of people keep everything they find and that's fine, but those of you who don't, at what point do you try to get a premium/better price for coins?

Let's use dimes for example. Most Rosies and later date Mercs (late 30s - 40s) aren't going to bring anything higher than melt value unless they are in Super Nice shape right.

I guess maybe what I want to know is how do you define junk silver? I have some good and very good Barbers that would be nice fillers for someone, but I don't think they are rare enough to bring much over melt value. And don't you think that very fine Rosies are just to common to be worth anything extra ?

Or does a coin need to be dateless or damaged to be junk silver.

Just wanted some other peoples' thoughts as the market is getting up there again

Thank for listening, Dave.

 

[JOHNMARKHAM]

most coins the better the grade the better the price there
worth, but mostly only key dates are worth anything
other than melt price, right now coin market is at a low, so unless
you have somthing really really valuable and it's certified by a coin
grading firm I'd just keep in a box for later when market is doing better!!
I do collect coins and lost my pants a few months ago when I sold off
some of my collection !!!ouch !!
Good luck
h h
John

 

[Larry (IL)]

Our club has been offering members 10X face for several months for silver for hunts and contests. This is not just for Dave, but anyone belonging to a MD'ing club, check with them to see what they are paying for silver. Our club would rather buy from members who want to sell than from a dealer.

 

[SteveP(NH)]

Junk silver is comprised of any coins that trade near to melt value regardless of condition so most Rosies are going to be counted as junk silver unless they are in uncirculated condition and even then they would probably have to be above MS-63 to trade much above melt. Your barber dimes are unlikely to bring in much above melt unless they are semi-key dates.

I have to agree with John that the market has been soft lately and I haven't seen any signs of it getting stronger. The ANA summer show in San Diego is going on now and the prices achieved at the auctions associated with that show will be a good barometer about which way prices are going. I know a lot of folks are closely watching what goes on at that show for that reason.

Finally, unless it is a key date coin, no dug coin is likely to bring in much above junk silver prices just because unless there are some extraordinary circumstances just about all dug coins are going to exhibit signs of environmental damage and signs of cleaning. Also most dug coins were being used when they were lost and so are also going to have circulation wear.

 

[jim tn]

We do the very same thing in our club, Larry, and currently getting/paying 10 x face, as well. Doing it that way is a win, win situation. The club saves at least 2-3% verses show prices and the club member sellers get an additional 2-3% or so more then they would from the dealers. The only silver coins I keep any more are key dates and near un-circulated ones. Consequently, I might get to keep 1 or 2 silver coins every two or three years. I just cleaned and banked over seven pounds of wheaties that were taking up space and returning nothing. HH jim tn