1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

Who Here Is Interested In Buying Silver Coins????

Discussion in 'Off Topic Threads' started by Auctioneer, Jun 17, 2011.

Thread Status:
Not open for further replies.
  1. Auctioneer

    Auctioneer Well-Known Member

    Joined:
    Jul 5, 2009
    Messages:
    4,966
    I have $300.00 worth of silver quarters. All are worn to the point its only the silver that is important. Is anyone here interested in them and for how much?
     
  2. John Galt

    John Galt TS Member

    Joined:
    Jun 12, 2011
    Messages:
    2,788
    Yes, $100.
     
  3. John Galt

    John Galt TS Member

    Joined:
    Jun 12, 2011
    Messages:
    2,788
    What do they weigh? What is the silver content of the coins?
     
  4. Dougbbbb

    Dougbbbb TS Supporters TS Supporters

    Joined:
    Jun 16, 2010
    Messages:
    1,059
    Location:
    NJ
    A 1932-1964 Silver Quarter is 90% silver 10% Copper and weighs 6.25 Grams.. Here's how u determine value

    Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:

    $35.88 = silver price / ounce on Jun 17, 2011.
    .90 = silver %
    $4.1061 = copper price / pound on Jun 17, 2011.
    .10 = copper %
    6.25 = total weight in grams
    .0321507466 = ounce/gram conversion factor
    .00220462262 = pound/gram conversion factor (see note directly below)


    The NYMEX uses pounds to price copper and that means we need to multiply the metal price by .00220462262 to make the conversion to grams. The silver price is based in troy ounces and that means we need to multiply the metal price by .0321507466 to make the conversion to grams.



    1. Calculate 90% silver value :

    (35.88 × .0321507466 × 6.25 × .90) = $6.4888244325


    $6.4888 is the rounded silver value for the 1932-1964 silver quarter on June 17, 2011. This is usually the value used by coin dealers when selling these coins at melt value. However, the total melt value is continued below.



    2. Calculate 10% copper value :

    (4.1061 × .00220462262 × 6.25 × .10) = $0.0056576


    3. Add the two together :

    $6.4888244325 + $0.0056576 = $6.4944820325




    $6.4944820325 is the total melt value for the 1932-1964 silver quarter on June 17, 2011.
     
  5. Auctioneer

    Auctioneer Well-Known Member

    Joined:
    Jul 5, 2009
    Messages:
    4,966
    Thanks for the interest but I have closed on a deal on the coins. Thanks again.
     
  6. BIG JIM IN BAKERSFIELD

    BIG JIM IN BAKERSFIELD TS Member

    Joined:
    Jan 29, 1998
    Messages:
    445
    WOW!!! That was fun.... thanks, BIG JIM
     
  7. foghorn220

    foghorn220 Active Member

    Joined:
    Jan 29, 1998
    Messages:
    2,535
    So if a quarter is worth $6.4944820325

    Then im sure a silver dollar would be $6.4944820325 x 4 = $25.977928120.

    Or did I figure it wrong.
    Fog!!
     
  8. Dougbbbb

    Dougbbbb TS Supporters TS Supporters

    Joined:
    Jun 16, 2010
    Messages:
    1,059
    Location:
    NJ
    The dollar is a whole new ball game. Some dollars carry a premium over their Silver content IE.. Pre 21 Morgans or Peace dollars. Some were minted with 100% silver content IE.. Silver Eagles. Some that were circulated in the 70's only had 40% silver with Copper and Nickel..

    Then you have these bad boys that were minted in the 90's


    dougbbbb_2010_1606108.jpg


    Doug
     
  9. twostraight

    twostraight Member

    Joined:
    Jan 29, 1998
    Messages:
    320
    http://www.coinflation.com/silver_coin_values.html

    Current prices . You should be able to get 90% of these values. Prices flucuate daily.
     
  10. Recoil Sissy

    Recoil Sissy Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,642
    An elderly uncle has a small collection of silver (90% silver - 10% copper) coins. He received them all as change from routine purchases over the years.
    They were obviously in circulation so subject to confirmation, I'm assuming none have collector value.

    Face value is $32.00. Based on the spot price as of Friday, August 19, 2011, the metal price is approx. $1,000 using Dougbbbb's formula above. If 'unk' decides to sell, it will fall on me to help.

    I don't own any silver and don't know poop about the process. I'm assuming coin dealers and pawn shops would be the likely local places to contact. I'm also assuming folks in the business buy for an amount less than market and sell for market price plus a mark up. So... Part of the process is to establish reasonable expectations. How much is a dealer likely to discount the spot market price when buying from a private party - 5%, 10%, 15%, more??

    I also vaguely remember something in the news about Obummercare adding confiscatory new taxes on sales of metals.

    If someone with actual experience would comment, I'd be truly grateful.

    Thanks in advance.

    sissy
     
  11. Recoil Sissy

    Recoil Sissy Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,642
    Anybody??
     
  12. Barrelbulge(Fl)

    Barrelbulge(Fl) Banned User Banned TS Supporters

    Joined:
    Aug 27, 2007
    Messages:
    11,666
    Location:
    West Central Florida
    Current melt value. Auctioneer according to this you have approx. $9000 in silver.

    1942-1945 Nickel * $0.05 $2.4519

    1916-1945 Mercury Dime $0.10 $3.1525


    1946-1964 Roosevelt Dime $0.10 $3.1525


    1916-1930 Standing Liberty Quarter $0.25 $7.8813


    1932-1964 Washington Quarter $0.25 $7.8813


    1916-1947 Walking Liberty Half Dollar $0.50 $15.7627


    1948-1963 Franklin Half Dollar $0.50 $15.7627


    1964 Kennedy Half Dollar $0.50 $15.7627


    1965-1970 Half Dollar (40% silver) $0.50 $6.4451


    1878-1921 Morgan Dollar $1.00 $33.7069


    1921-1935 Peace Dollar $1.00 $33.7069


    1971-1976 Eisenhower Dollar (40% silver) ** $1.00 $13.7815
     
  13. ebsurveyor

    ebsurveyor Member

    Joined:
    Jan 29, 1998
    Messages:
    950
    Location:
    PA
    Go to the link I posted http://www.coinflation.com/ for current melt values. The best place to sell is ebay. Generally you'll get more than melt value there.
     
  14. pdq

    pdq Member

    Joined:
    Aug 24, 2006
    Messages:
    934
    I was a paperboy back in 1964 when the currency changed. I got 55 cents/week for delivering Monday thru Saturday. When the currency went away from silver I started collecting them and filled a large mason jar with dimes and quarters. Still have 'em. Had planned to pass them down to the kids, but now I think I'll cash them in to help pay the new income taxes Obama has coming our way.

    Pete
     
  15. Barrelbulge(Fl)

    Barrelbulge(Fl) Banned User Banned TS Supporters

    Joined:
    Aug 27, 2007
    Messages:
    11,666
    Location:
    West Central Florida
    Right now you are getting approx. 30 to 1. Bulge.
     
Thread Status:
Not open for further replies.