Coin Collecting

Discussion in 'Public General Chat' started by Jezzabelle, Nov 30, 2008.

  1. Jezzabelle
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    Does anyone know much about selling coins?

    I have face value about $170 of circulated pre 1964 quarters and dimes (90% silver) that I want to liquidate. I was considering just walking into a local coin shop to sell them in bulk but I'm not sure what fair value might be.

    I've checked pcgs.com, but those prices are based on rated coins at auction. PCGS is 24x face, the melt value of the silver is currently about 8x face, I paid about 2x for them last month... what price should I realalistically hold out for?
     
  2. Lev
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    I'd melt them down into awesome Norse auspicious amulets.
     
  3. The Communist
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    I would try Ebay maybe... That might be you best bet.
     
  4. mercsan
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    Unless they are notable coins, just spend them. When I say notable:

    1909 S-VDB Pennies
    1943 S Pennies

    Stuff like that.
     
  5. sid the rat
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    Hmm, I don't know much about selling coins, but I'd go to a couple different coin shops/appraisers and get multiple opinions if that is the route you're going to go (and you have that option in your surrounding area).

    I don't think ebay is a bad idea either, if you have a reasonable starting place for price (see: coin shops).

    Just spend them? ...... wtf, man. I always go through my change just to see if I got any of these, and save them like they are precious jewels, but I'm a lazy opportunist coin collector. Someone will value these coins well above their face value, trust me. The trick is in finding them, and finding a price you both think is fair.

    I'm not sure if people would prefer to buy these in bulk or in smaller lots, so since it sounds like you have quite a few, try selling both? ... *shrug*
     
  6. Tasteless
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    Wow.

    Coins!

    How incredibly exciting!
     
  7. sid the rat
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    Just because you're not a numismatist doesn't mean you have to be a jerk about it. I thought this was supposed to be a community of friends/family that is supportive/etc. but I've been known to be delusional about such things in the past.

    This falls into the "can't say something nice, don't say anything" category... oops, hypocrite strikes again.

    Personally I'm curious to know how this gets resolved; if you end up posting a few smaller lots on ebay I might pick one up :p
     
  8. mercsan
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    I said, unless they ARE notable coins, meaning that if its a regular common coin, like a 1961 quarter to spend it. Obviously you arent gonna go spend a 1909 S-VDB Penny at Taco Bell. Interpret better :p
     
  9. sid the rat
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    Silver quarters and dimes aren't "common" anymore; by common I mean you would have a chance of receiving it as change from a vendor. They're quite difficult to find, in my experience. I've only gotten one each, ever. But hey, I wasn't around in 1961. I've also received a steel penny as change before, so maybe I'm just incredibly lucky?

    I believe that banks take these out of circulation if they discover them in people's change rolls, but I'm paranoid like that.
     
  10. EF2
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    Tasteless probably collects stamps.
     
  11. Tasteless
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    No, im more of the used tampons and toilet paper type.
     
  12. mercsan
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    I have alot of 1943 pennies. Have a 1909 VDB and 1909 S-VDB. almost all lincoln cents, since creation, which is 1909, lol.

    One of the most rare thing my dad found (but didnt know at the time) was an unstamped quarter in a roll. Only to find out later (like 2 years later) that they were specifically worth about 25 grand or so hehe :( he threw it away.
     
  13. Brownmccoy
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    :eek: Wow... I personally have never really understood coin collecting and stuff like that, but... I'm not a packrat and don't have sentimental value on objects. It just seems so odd to me that someone would pay 25 grand for a god damned quarter... I'm just thinking, in an economic crisis like we have today, is 25 grand on a friggin quarter a good investment? :p

    And I've received quite a few silver quarters... gave them to my dad. He has a huge coin collection (he was in the military so he moved around a lot, and so was his father).
     
  14. Jezzabelle
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    Well I took a quote yesterday of 6x face value, I kinda wanted 8 or better and was willing to settle at 7... 6 seems too low, but the price of silver is way down. As for banks taking them out of circulation... I work at the bank and take them, so thats kinda true.

    Coin collecting works for me because I'm at the bank all day long... We have these free coin coutning machines that reject anything unusual so throughout the day I check the reject bins. Today I found another $1.35 in silver at 6x face it's like getting paid for an extra half hour that I don't have to work... not a bad deal. Anywho I'm still looking but think 6x is the going rate right now... F'in deflationary silver prices.
     
  15. Lev
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    How do you feel about the current monetary system and the ethical ramifications behind it's workings on both an independent and global scale?
     

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