Jun
01
Is it better to sell my silver dollars to a local dealer or at a coin show?
John W asked:
I bought seven rolls of 20 coins each as an investment in the early 1980's. They have generally been a bad investment, but the values have gone up recently. I would like to sell. Which is the wiser course - - selling to a local dealer or at a local coin show (which is coming up in two months)? Some other way? I don't want to sell on eBay. I live in the Research Triangle area of North Carolina.
I bought seven rolls of 20 coins each as an investment in the early 1980's. They have generally been a bad investment, but the values have gone up recently. I would like to sell. Which is the wiser course - - selling to a local dealer or at a local coin show (which is coming up in two months)? Some other way? I don't want to sell on eBay. I live in the Research Triangle area of North Carolina.
For the record, this is what I have:
1 roll 1884-0 pretty darn close to "Brilliant Uncirculated"
1 roll 1921 Morgan - close to "Almost Uncirculated"
3 rolls 1921 Morgan - noticeably below AU but still have very good definition in the hair strands
1 roll 1922 Peace - like the prior roll, it is definitely not AU but also shows no obvious or major wear; also some seem to be dirtier than you'd expect for so little wear
1 roll 1923 Peace - same as immediately above
I'm not a serious coin collector, although I enjoy coins.
Thank you in advance for your help.
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3 Comments
Definitely a reputable coin show. A local dealer is going to buy at wholesale, 40-60% of market value at best. Most local dealers are just pretty pawn shops.
An alternative to you listing on eBay would be an eBay selling service. Such a service will handle the photography, listing, payment, shipping, etc. and charge you a percent of the selling price.
This does not lend itself to a definitive answer. In theory you should get a better price at a coin show because you will have more potential buyers. You will need to do your homework first in order to get the best price. You need to determine what the value of these rolls is. 140 silver dollars is quite a lot to lug around. You might also be faced with the problem of trying to unload so many at one time but perhaps not. Silver dollars have always been very popular and relatively easy to buy and sell. The Peace should be worth about $15 each there abouts. The 21 Morgans about the same.
The 84-o is a different story. These were weakly struck in general so BUs might actually appear as AU because of the strike. Full strikes are premium coins. A dealer may very well attempt to low ball you on these. Full Strike BUs are worth maybe $60++ each. BUs maybe $45. AU maybe $25.
I think I would try a local dealer first. No harm in that.
IMHO, silver will be a LOT higher by the end of this yr.
Or to state it more accurately, it will take a lot more of the paper frauds (frns) to buy precious metals. Or base metals,food etc. Just watch all country’s around the world crank up the printing press’s. = inflation.
JL