Norma, Dondi wrote to you...
would likely bring about 50% of *retail*. There's a big difference in the two.
Also be aware that
the coins are not worth $5.29/oz because they are not pure silver. Most
will tell you what the coins are worth in relation to face. This avoids a lot
pricing games related to weight & calculator sheenanigans. Currently, most
dealers are paying around 3.0 to 3.3 X face & selling for around 3.5 times
face. Of course
small amounts yield the lowest buys & higher sells.
Secondly, as to the Gold coins. Investment rarities was likely
selling the common date Liberty coins. The "circulated" coin values would be>>
Dondi is correct that the bullion value per ounce does not equal the total
weight of the coins. However, to simplify what he was trying to say, "Junk"
silver coin (pre 1965 dimes, Halves, Quarters), are .900 fine, or 90% silver,
An easy way to determine what your bullion value is, would be to count the face
value up, multiple it by .723 and this gives you total ounces of Silver.
Multiply that times current bullion price (which you can look up on the net or
in any Newspaper business section) and you'll know what your bullion value is.
Most dealers who trade junk silver in quantity, do so by "face", in other
words, as Dondi mentioned, 3 X face or 3.55 X face etc.
Dondi is not correct however, in stating that current dealer buy price is 3.0
to 3.3 X face, and sell is 3.5 X face. Apparently he has not been staying
current on Silver's bullion price which has risen substantially lately. The
dealer I deal with for junk silver coin is currently paying 3.65 X face and
selling for 3.8 X face. Other dealers may have larger spreads but will be in
Remember that the bullion price can vary greatly day by day, thus the value of
bullion coins will do the same. Silver has risen more than 24% in value in a
few short months from it's July doldrums, and will likely rise a lot more due
to a developing supply shortage of above ground COMEX inventory.
I agree with Dondi that the Gold coins will be overgraded common date stuff if
it came from "Investment Rarities". They were not a firm that would have sold
something valuable without overgrading and charging too much.
Valley Classic Coin