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Thread: Morgan/Peace dollars going rate...

  1. #11

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    Quote Originally Posted by Oregon Gold View Post
    ...
    I suppose going the Craigslist route would be best for top dollar.

    Cheers!
    You might consider giving Kitco a call. They often issue very competitive bids when buying secondary market coins. If you get more than Kitco is willing to pay, then you did well.

  2. #12

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    Quote Originally Posted by SilverPalm View Post
    You might consider giving Kitco a call. They often issue very competitive bids when buying secondary market coins. If you get more than Kitco is willing to pay, then you did well.
    I find Kitco is pretty bad when buying back.
    I swapped out 3 monster boxes of silver for platinum when thé PSR was 33.
    My expérience with kitco was: Id like to do this swap, can we meet halfway? Answer was NO. They were buying my Maples at spot and selling Maple Platinums at 105 over spot...I declined.
    Border Gold payed me 2 above spot for Maples and charged me 75 over spot for Platinum Maples. Savings of
    I got 15 cons for 500 Maples...or 45 PLatinum coins in thé swap
    Savings of
    1500 x2 on silves =3000
    45 x 30 on platinum = 1350
    Saved me 4350 USD or basically got 4 free platinum coins in thé deal with Border Gold over Kitco.

  3. #13

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    Quote Originally Posted by Atlas Shrugged View Post
    He would do better here...no fees. Never had a problem buying or selling with kitco board members. And I have done both.
    i agree, i have had good fortune here as well

  4. #14

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    Quote Originally Posted by Nikko View Post
    I find Kitco is pretty bad when buying back..
    For gold and silver, certainly there is a lot of competition, I'm sure many of us can find better sell back deals, and myself, I would probably prefer my local dealers who will pay in cash in hand. Nothing can beat that!

    However, when I decided to sell all my Palladium and Rhodium bullion a couple years ago (which I now regret), I did look around and found Kitco the best to sell back to so I'll put in a good work on that. (My locals don't deal in Palladium and Rhodium). That said, I don't think Palladium and Rhodium do well as bullion, so I'm out of those metals "in hand" for good.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  5. #15

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    Quote Originally Posted by motocat View Post
    For gold and silver, certainly there is a lot of competition, I'm sure many of us can find better sell back deals, and myself, I would probably prefer my local dealers who will pay in cash in hand. Nothing can beat that!

    However, when I decided to sell all my Palladium and Rhodium bullion a couple years ago (which I now regret), I did look around and found Kitco the best to sell back to so I'll put in a good work on that. (My locals don't deal in Palladium and Rhodium). That said, I don't think Palladium and Rhodium do well as bullion, so I'm out of those metals "in hand" for good.
    i dont know, moto, if rhodium came back down to $1k again i would have to buy at least 20 ounces again just on principal. the grandkids could buy new homes one day with it i think being held long enough. i mean, geez, from 1k up to 10k then back down to 1k and now back up to 26k! i mean just wow.

  6. #16

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    Quote Originally Posted by bronkster1967 View Post
    So far from what I've read, everyone here has given you some viable options that you should consider. I would just like to add a few things from my own perspective as a longtime collector who has bought and sold thousands of coins to and from coin shops. For one, his offer seems rather low, especially given that silver coins are hot and Morgan silver dollars have been one of the recipients of increased interest (and not quite as much for the Peace dollars unless key or better dates). Coins in general have been in a bull market for several years now- hence the increased premiums that have remained for longer than we would like. And everyone, dealers included have had to increase their buy prices or else face being shut out for sufficient inventory. Remember that collectors love big silver coins- especially dollar coins and halves.

    Now keeping in mind that yes, coin dealers do have to make some money and pay the bills and no, most of them aren't crooks (although some are), but when a coin dealer buys coins from you, he's buying them at wholesale or below wholesale prices. They do not pay retail prices-ever. That's where the Greysheet comes in. It's also known as the CDN (Coin Dealer Newsletter) and is the wholesale pricing report on the rare coin market that's been around since 1963. If you ever hear "I've gotta be 10 or 20 back of bid.", that means he's going to try and pay you $10-$20 less than wholesale price. That generally means he's got a lot of that coin/it just doesn't have much demand/is overproduced/he just doesn't want it or he's ripping you off. Another important thing to remember is that many people will attempt to use the Red Book or one of those coin magazines on the supermarket shelves and think that those are what dealers will pay for your coins. The prices found there are actually retail prices that many/most dealers will ask for, but not pay for coins. The Red Book is great for information, but not pricing.

    The main reason I believe he's lowballing you, at least initially, is because we don't know what dates you have accumulated there. Most Morgans and Peace silver dollars are fairly common dates, but there are some that are known as key dates or semi key dates or better dates. All of those should command higher prices than what that dealer has offered you. A lot of it has to do with what is considered cull, good, better or best. Even common date dollars, if uncirculated, will get you better prices than $18-$21 each. Remember coin grading is a learned skill and it IS subjective, but in general, if there is wear and a large amount of contact marks on a coin, then it isn't uncirculated. If your silver dollars are all circulated, depending on their level of circulation, his offer may be okay, but I still think you can do better selling them yourself either to Kitco members or elsewhere. Also, a lot of people highly overestimate the condition of their coins and usually the dealer is an expert in grading. If he treats you fairly, then great! But if he's offering you $18-$21 for coins that may be anywhere from $30-$50 each (possibly more), then I'd reconsider or maybe just sell him the lower grade ones, so that you can as you said, establish a good relationship. Please be aware that some dealers, if they sense that you have no idea about what you're selling will try to take advantage of you. Again, I'm not trying to malign ALL coin dealers, but that those individuals do exist in the business and sometimes they'll try and pull some shady sh*t.

    My biggest concern in trying to look out for you is the coins that you or he are calling "best". Those are the ones that you should definitely be able to get more than a measly $21 for.
    Wow!.. Now that is a reply!, Hahaha...
    I agree with all you are saying here.
    I'm thinking it's best to make it a local sale.. shipping would be $$ and also I really want the buyer to look at each coin and be satisfied.
    Thank you again for this amazing reply.
    "More Gold has been mined from the thoughts of men than has been taken from the earth.” - Napoleon Hill

  7. #17

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    Quote Originally Posted by Oregon Gold View Post
    Wow!.. Now that is a reply!, Hahaha...
    I agree with all you are saying here.
    I'm thinking it's best to make it a local sale.. shipping would be $$ and also I really want the buyer to look at each coin and be satisfied.
    Thank you again for this amazing reply.
    You're very welcome. I will always give the best advice and opinion that I can (Yes, it's opinion based on experience, but opinion nonetheless). It goes without saying that if you choose a place like Craigslist or place an ad in one of those small local community newspapers, that you should, if you can, bring along a friend as someone to watch your back and as a witness. Remember your situational awareness (head on a swivel), carry your sidearm if you're a proponent of the 2nd Amendment and if at all possible, conduct any transaction somewhere relatively safe such as a police department parking lot or a bank lobby where there are lots of cameras. As a retired member of law enforcement, if something doesn't feel or seem right, trust your 6th sense! Walk away or get out of there asap. Refusal or failure to employ these techniques could possibly subject you to robbery, assault/battery or worse and no one here wants that. I know of several members here that have used Craigslist and everything went fine due to their safety precautions with a common sense approach. Even more have bought and sold right here to and from other forum members. Good luck with whatever you decide!

  8. #18

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    Quote Originally Posted by maxwellsilverhammer View Post
    i dont know, moto, if rhodium came back down to $1k again i would have to buy at least 20 ounces again just on principal. the grandkids could buy new homes one day with it i think being held long enough. i mean, geez, from 1k up to 10k then back down to 1k and now back up to 26k! i mean just wow.
    Maybe I would consider Rhodium pool holdings, as selling the actual bars can be very hard to do, and I've noticed you both buy the bars at higher prices AND sell them back for lower prices then the pool holdings. But how does this relate to Morgans? About as far away in the PM world as you can get! Not a form of bullion as I see it, if I were into such rides, there are many other more efficient things to trade on (do check out the buy sell spread on Rh)
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

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