opinions. advice sought on the value of silver melt value.......

Whats up gang -

Got a question, Is my math correct in stating that a Morgan Dollar at
Melt Value is worth $5.58 IF spot price on Silver was 7.25?

I am looking to sell a group of Morgans(11) not sure wether to start
the bid at face value(probably not) or a around what the Silver Melt
value it...A couple of them are hard to find (1884-S and 1886-O) the
whole lot is in circalted condition with the coins ranging from F-12
to EF-40.....

Tohughts/Opinions?

Regards,

Gary Loveless

Gary Loveless wrote:
Whats up gang -

Got a question, Is my math correct in stating that a Morgan Dollar at
Melt Value is worth $5.58 IF spot price on Silver was 7.25?

I am looking to sell a group of Morgans(11) not sure wether to start
the bid at face value(probably not) or a around what the Silver Melt
value it...

Gary, your melt value sounds close to right. I sold a group of XF/AU
uncleaned Morgans earlier this year. I started the bid at a token value
below melt and let the market determine the final bid. The final bid
was greater than melt but less than Greysheet, so it wasn't really a
good way to sell coins. The best advice I could give is to figure out
what the coins are worth. You might want to group the better quality
coins in one auction using Greysheet as your guide, then sell the other
coins as junk silver. Another option is that you could sell your coins
as a half roll of average circulated Morgans, with a free coin thrown
in, and check eBay for the going rates.

Good luck,
Anita

On 2 Oct 2005 03:42:04 -0700, "
wrote:

Gary Loveless wrote:
Whats up gang -

Got a question, Is my math correct in stating that a Morgan Dollar at
Melt Value is worth $5.58 IF spot price on Silver was 7.25?

I am looking to sell a group of Morgans(11) not sure wether to start
the bid at face value(probably not) or a around what the Silver Melt
value it...

Gary, your melt value sounds close to right. I sold a group of XF/AU
uncleaned Morgans earlier this year. I started the bid at a token value
below melt and let the market determine the final bid. The final bid
was greater than melt but less than Greysheet, so it wasn't really a
good way to sell coins. The best advice I could give is to figure out
what the coins are worth. You might want to group the better quality
coins in one auction using Greysheet as your guide, then sell the other
coins as junk silver. Another option is that you could sell your coins
as a half roll of average circulated Morgans, with a free coin thrown
in, and check eBay for the going rates.

Good luck,
Anita

Thanks, Anita. I am just looking to break even or a little better on
these. I widow donated her late husbands collection to a church and I
"bought" it from the Pastor(They consider it a donation) so after
going thru the collection and keeping what I need for mine, I am
looking to liquidate the rest and try and recoupe my costs(maybe even
make a little profit!)

Regards,

Gary

On Sun, 02 Oct 2005 05:14:57 -0400, Gary Loveless wrote:

Got a question, Is my math correct in stating that a Morgan Dollar at
Melt Value is worth $5.58 IF spot price on Silver was 7.25?

US$5.5802 if one wants to be precise for a 26.6 gram Morgan Dollar, for
the silver... and US$0.0121 for the copper in the coin, so you can add
an additional cent or so.

However, that is the value of the silver AFTER the coin has been melted
down and purified to get the copper out, and the value of the copper
similarly after the metals have been separated. A dealer in metals
would NOT pay that value, of course, but rather would pay about 60-65%
of that value, since there is the cost of labour, shipping to the plant
for processing, overheads and making a living that get in between the
'melt' value and the price one who 'melts' would actually pay.

So if the coins are basically only worth their melt value as coins, then
I would guess that the starting price, which reflects what a melter
should be willing to pay for a 'worthless as a collectable' coin would
be about $3.50-$3.75 which would be all the buyer would get if (s)he
were to sell it to someone as scrap silver for melting down.

FWIW

RsH
================================================== =====
Copyright retained. My opinions - no one else's...
If this is illegal where you are, do not read it!

Heck, offer them to this NG for $7.00 a pop and I get you'll get a taker for
all 11.

--keith

On Sun, 02 Oct 2005 22:18:24 GMT, "fletch"
wrote:

Heck, offer them to this NG for $7.00 a pop and I get you'll get a taker for
all 11.

--keith


already got three bids on the lot.....

Gary