A little question for any bullion experts [solved]

Hello,

I've been considering selling my modern silver bullion coins (American Silver Eagles, Britannia £2, Mexican Libertad, and Canadian Maple Leaf ($5)), to raise money for my numismatic hobby, among other things. The problem is some of them are naked, and have a few hairline scratches here and there; nothing too serious, but not quite pristine condition either.

I'm planning on selling to a precious metals dealer since they have little numismatic value, so I'd like to know what prices I should have in sight here for one of each of those above coins here; and if scratches and the overall condition of the bullion coin matters value-wise to a metals dealer (as much as it does for a numismatist)?

Metal dealers will pay you the metal value they don't care in which form it comes ... maybe even a bit less they will often melt the stuff they get down and resell to jewelers etc.

Some older dates of American Eagles will bring premium over spot price.
1986, 1994, 1996, may be 3x spot.
1988 , 1997, 1998, 1999, 2000, may be 1.5x spot.
All newer than 2001, you will only get spot price at best.

worst decision ever to sell to dealer.


a) silver very low at the moment
b) sell privately for more profit to england via facebook
c) dont sell cause of a)

In my experience even the common Eagles and Maple Leafs sell at a 20% premium to spot, so don't give them away too easily.

Whether silver is going to go up in the future, who knows?

Quote: "jokinen"​In my experience even the common Eagles and Maple Leafs sell at a 20% premium to spot, so don't give them away too easily.
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​Whether silver is going to go up in the future, who knows?

​
the "20%" is the tax you paid and can demand from a private buyer..........

Thanks to everyone who replied, including those who sent offers of private purchase! Unfortunately I plan to have them off my hands by this weekend, so it'll likely be a shop, plus the hassle of postage (from my end) always makes me feel queasy.

To be honest I'm not looking to squeeze every last penny out of a potential sale, I just need some quick cash in hand to get something later this week before another buyer snaps it up before me, and so I can't wait for 3-5 years based on market speculation. I don't really mind if I'm selling at a non-optimal time for silver; I'm not a precious metals trader, I just want to know I'm not being ripped off.
Also, could someone cite a reasonable figure to accept for selling each of those coins?

@Idolenz
I take it that means the buyer won't care about the condition of the bullion coin?

Quote: "CassTaylor"​Thanks to everyone who replied, including those who sent offers of private purchase! Unfortunately I plan to have them off my hands by this weekend, so it'll likely be a shop, plus the hassle of postage (from my end) always makes me feel queasy.
​
​To be honest I'm not looking to squeeze every last penny out of a potential sale, I just need some quick cash in hand to get something later this week before another buyer snaps it up before me, and so I can't wait for 3-5 years based on market speculation. I don't really mind if I'm selling at a non-optimal time for silver; I'm not a precious metals trader, I just want to know I'm not being ripped off.
​Also, could someone cite a reasonable figure to accept for selling each of those coins?
​
​@Idolenz
​I take it that means the buyer won't care about the condition of the bullion coin?
​
​

​sooo,

EDITED

EDIT: these all were post 2010 dates. Like a previous post noted regarding the ASE's, prior years do command a premium. This applies also to the libertads, with some dates going 6-9 times over spot.

@John
Thanks! All those seem like good numbers to me. I'll expect a little bit less, but I think I have a reference point now.

Yeah, all my silver bullion coins are post 2010 dates; excepting a Mexican Libertad from 2001; does that command a premium? I'm guessing not, but it never hurts to ask.

Yes in the case of a metal dealer... they weigh your stuff (the metal content will be known with such popular coins) and then pay the current rate, minus some charges.
So maybe around 50€ for your 4 coins?

Quote: "CassTaylor"​@John
​Thanks! All those seem like good numbers to me. I'll expect a little bit less, but I think I have a reference point now.
​
​Yeah, all my silver bullion coins are post 2010 dates; excepting a Mexican Libertad from 2001; does that command a premium? I'm guessing not, but it never hurts to ask.
​
​

To my knowledge, ​2001 is not a key date for the libertads. 1997, 1998 (the rarest), and 1999 are the main ones. There are many semi-key dates, like 1987, 1994, 1995, 1996, 2006 and 2007...

Yeah, 50€ is around where I figured it might be. I was delighted to find some coins I had that I didn't mind offloading for cash; these coins were gifts from a classmate whose parents were (I think) investors in precious metals; I just didn't have the heart to tell her that those weren't the sort of coins I collect...

Anyway, good to hear physical condition doesn't matter too much when selling to a metals dealer. I'll probably be selling them this Wednesday; will report what I got.

Alright, well, story closed, but in case anyone would like to know;

Because every precious metal dealer I came to ended up having some weird caveats to the sale that would've taken away even more than the usual 10-15% they deduct from spot price, I ended up selling the bullion coins to a numismatic coin dealer I know and trust; after throwing in a few more .999 half ounce silver medallions, I ended up walking away with 82€; the original four coins on their own came up to 54€, which is very close to Idolenz's prediction.

I'm very happy with the sale, and while I probably could've had a better deal depending on current market demand or haggling, I'm very happy with what I got. I spent it on some pre-tty nice things, some of which are coins that I'll be posting in the monthly thread soon once I get my phone charged!