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What to do with Kennedy half dollars?
I bought a roll of Kennedy halfs for spending purposes only. What I ended
up getting was about half of them from 1967 and 1968. Now I don't know what to do with them. I know I could use them at face value, but I also know they are 40% silver...meaning (from what I've read the value of silver alone is close to $3 each. I assume unless I'm a coin dealer...there's no way I could even fetch close to that amount. I'm not a coin collector, and I'm not one to be selling coins via Ebay. So what do I do with them? How much could I expect to get by selling them to a retail coin dealer? Would a retail coin dealer even buy them? The condition of them are not anywhere near mint, or even uncirculated. In fact they are kind grungy; and I have no idea if that means anything if someone is buying them just for the silver content alone. Thanks, Barney |
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#2
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What to do with Kennedy half dollars?
In article ,
Barney wrote: I bought a roll of Kennedy halfs for spending purposes only. What I ended up getting was about half of them from 1967 and 1968. Now I don't know what to do with them. I know I could use them at face value, but I also know they are 40% silver...meaning (from what I've read the value of silver alone is close to $3 each. I assume unless I'm a coin dealer...there's no way I could even fetch close to that amount. I'm not a coin collector, and I'm not one to be selling coins via Ebay. So what do I do with them? How much could I expect to get by selling them to a retail coin dealer? Would a retail coin dealer even buy them? The condition of them are not anywhere near mint, or even uncirculated. In fact they are kind grungy; and I have no idea if that means anything if someone is buying them just for the silver content alone. They are certainly worth more than face value, so don't spend them. The current deeler buy on 40% silver is about 5.6 times face value, or $2.80 per half dollar. This is generally BY THE BAG ($1000 face value), though, so smaller quantities are generally purchased at a smaller multiple. (It takes a lot more work to buy 200 lots of $5 face than one lot of $1000 face, so the deeler takes the value of his time into account.) At a shop where I used to help out, when silver was at this level, we'd pay between 4.0 and 5.0 times face depending on the amount being purchased. Just call a few local shops and ask "How much are you paying for $xx face of forty percent silver?". They should be able to quote you a ballpark figure, somewhat subject to change if the spot price changes dramatically between the time you call and the time you show up to sell. -- Ken Barr Numismatics * * * *email: P. O. Box 32541 * * * * * * website: *http://www.kenbarr.com San Jose, CA *95152 * * Coins, currency, exonumia, souvenir cards, etc. 408-272-3247 * NEXT SHOW: Santa Clara August 26 -28 |
#3
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What to do with Kennedy half dollars?
On Wednesday, August 10, 2016 at 5:29:31 AM UTC-5, Barney wrote:
I bought a roll of Kennedy halfs for spending purposes only. What I ended up getting was about half of them from 1967 and 1968. Now I don't know what to do with them. I know I could use them at face value, but I also know they are 40% silver...meaning (from what I've read the value of silver alone is close to $3 each. I assume unless I'm a coin dealer...there's no way I could even fetch close to that amount. I'm not a coin collector, and I'm not one to be selling coins via Ebay. So what do I do with them? How much could I expect to get by selling them to a retail coin dealer? Would a retail coin dealer even buy them? The condition of them are not anywhere near mint, or even uncirculated. In fact they are kind grungy; and I have no idea if that means anything if someone is buying them just for the silver content alone. Thanks, Barney Barney - I suggest two things: 1. Go back to wherever you bought this and buy a few more :-) 2. Throw the silver ones on eBay as a lot and see what happens. There are buyers who accumulate coins like this simply for the melt value, as an investment. Good luck! |
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