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I noticed that the Morgan Silver Dollars on E-Bay are going for $30.00 to $40.00 I'm wondering if these prices are a bit low since an ounce of silver is north of $32.00 US at the moment.. any opinions? I have a few of worthless silver dollars and silver coinage in general...does anyone know of the melt value of poor silver coinage?
Thanks Bill in Burl and Techmo...the Morgan Dollars are obviously in US.numismatic $ values. If I looked up troy oz per coin would not the wear come into play and then the silver content? Having never sold silver so I have no idea how to do it...would you get the approximate price of a troy ounce or would the buyer heavily discount the value? I suppose it depends who you may approach...that in itself is an issue for me....I have purchased books and flips from Colonial Coins in Kitchener and feel they have a good reputation to uphold..maybe I will test the water with them...
Canadian silver after 1920 was .800. As such, each face dollar (makes no difference the denominations) contains .6 troy oz of silver. Yes wear, and the hour-to-hour world silver price changes constantly ... as does the US/CAD exchange rate. That's why dealers will usually only give 90% of scrap silver price for circulated coins. They wiull give about 95% for mostly AU/UNC pieces, at least up here in Canuckland. Anyway, save the .6 oz per face dollar for Canadian coins.
Bill in Burl
Thanks for your interest in joining the Hamilton Coin Society. The meetings are held on the first Monday of every month, at St. Michael's Anglican Church, 1188 Fennell Ave E, Hamilton. That's near the intersection of Fennell and Upper Ottawa. We haven't had a meeting since Feb and then the virus started to cancel the meetings and the ONA show. We usually have about 20-25 folks there. There's an auction and a short presentation every meeting.
Bill in Burl