should I keep my nickles?
- Thread starter bootgun
- Start date
When you buy silver coins, at what % of book do you buy and what book do you go by? Just wondering. I have a bunch and have knocked around unloading some. Just not sure If I want to.
I use www.coinflation.com Page down to the second section where pre-1965 coins are listed. They'll quote the value of the silver in the coin based on the latest spot prices.
I typically try to buy at 90-95% of spot. I'm not a dealer, so anything at or just under spot is fine for me. I rarely buy coins for their numismatistic value. I buy common date 90% silver in "fine" condition or above.
If you are selling, most folks here won't bite if you are selling right at spot. You may need to price it slightly below.
Thanks for the tip on the pawn shop - I use a local pwan shop and buy silver there at 95% of spot on occasion. The rest I source at auctions for quite a bit less.
Go to an auction where a bunch of silver is being sold. My record is 8 ozs of silver in the form of 90% US silver coins for $70 ($8.75 oz). That was about 73% off of spot prices. All coins were in fine to XF shape, with several mercury dimes that could easily sell for $8-$10 each in the collectors market. Got a large 1800's US penny in there too along with a bunch of buffalo nickes with clear dates. All the junk coins were on the top of the box, all the silver was underneath.
Most often, I'm getting it for right around 95% of spot at one local pawn shop. Depends on who is at the counter. I always make an offer of less than the tagged asking price with cash visible in my hand. Sometimes they tag the coins, sometimes they just say "at spot". Picked up a pile of Peace dollars a couple of weeks back.
And yet I still can't sell my 32 oz (kilo) libertad bullion coins for a decent price. Go figure!
This is a good site for nickels:
http://www.coinflation.com/coins/1946-2007-Jefferson-Nickel-Value.html
and pennies:
http://www.coinflation.com/coins/1909-1982-Lincoln-Cent-Penny-Value.html
(Note that pennies only contained enough copper to be worthwhile until 1982.)
-I do remember reading not too long ago that the amount of copper in a nickel is worth keeping them for. When the price of copper spikes (as it did recently,) they can actually be worth 11 cents.
http://www.coinflation.com/coins/1946-2007-Jefferson-Nickel-Value.html
and pennies:
http://www.coinflation.com/coins/1909-1982-Lincoln-Cent-Penny-Value.html
(Note that pennies only contained enough copper to be worthwhile until 1982.)
-I do remember reading not too long ago that the amount of copper in a nickel is worth keeping them for. When the price of copper spikes (as it did recently,) they can actually be worth 11 cents.
LMAO.... You got it as far as the pennies are concerned..... I was told a penny is worth about 1.5 cents if it is a 82 or earlier penny.... not including the steel pennies from the 40's.
