assistance needed

[detectorguy]

Hi Larry and PATH members,

After all these many, many years I need to sell off a bunch of my silver due to the medical/financial difficulties Becky and I are going through. I have several pounds of silver in the form of dimes, quarters and halves but since I've never, ever sold any of it I don't know who to go to or what I'm in for - can you steer me in the right direction?

Thanks,

Marty aka: Detectorguy

 

[dave5710]

Marty the club is usually looking for silver. I'm not the one to talk to about that. If I were going to a dealer I would recommend Wendy at Wendy's collectibles in Peoria Heights. I also like the guys at Westlake Shopping Center and there is a coin dealer in Morton. Wendy always gives me a little extra I feel. She gives me fair market value on what I bring in, but she gives me a little bonus on what I buy. I haven't sold anything to the other two dealers I mentioned, but they are fair when I have bought from them. If the fellow on Sheridan Road is still there I would avoid him like the plague. I will add that I would be interested as well. Also avoid these people that set up in hotelrooms and Legion Halls.

 

[geodehunter]

Marty, This is a tough question. Some of your silver you may want to sell it at melt value. If you have any key dates you would probably be better off selling it at numismatic value. The best thing to do is weigh the odds and see which way that would yield you the best price. The bottom line is what you feel comfortable doing. I do understand your situation because Lesa is battling cancer right now. Whatever you decide I wish you the best.

 

[detectorguy]

I have some of the key date coins set aside in coin holders and wasn't going to do anything with them on this go round. I was just going to sell off my "common" dimes, quarters and halves for their weight in silver. I've been detecting since the mid 80s and have never sold anything I've ever found to anyone. I was looking for advice on the best/safest place in the area. I was thinking Wendy's, but having been out of the local club for so long I didn't know if an "every day Joe" was going to catch a break and get a good enough deal to make the effort.

 

[dave5710]

I would call her in the morning. From where the market is right now, I would guess she will pay 18 times face value for 90% silver. A little less for 80% Canadian/foreign silver. I have never had her weigh anything I have brought in, she just totals the face value and multiplys the total. I am sure she would take extra time to appraise any key date coins you have. I don't think these silver buyers in the malls and jewelry stores would go to that extreme for their customers.

 

[Larry (IL)]

Hi Marty, nice hearing from you and sorry to hear about the tough times you are experiencing. Normally the club would buy them but we have everything that we need for the next year plus more. Wendy is about as good as it gets for an immediate sale, usually offering a little less than spot because she sells at spot. For top dollar sales, right here in the classifieds are many buyers who are willing to pay spot for silver. If you can wait a few days for payment, I would give the classifieds a try.

 

[detectorguy]

unfortunately I need the money as soon as possible to cover some medical debt. One nice thing about selling off most of my silver is it gives me the incentive to start all over.

 

[shepned]

I buy and sell silver on Ebay and see hundreds of sales every day going for spot price plus shipping. I would bet you could get 23 to 25 times face value. I have purchased many coins on Ebay and had to compete for all of them. Wendy's is a good spot but you will not get spot prices there or at any coin store. Good Luck my friend!