Why do coin shops buy only at weight-level-worth for silver coins?
I’d bουɡһt a collectible Lewis & Clark Comemorative silver proof coin frοm tһе US Mint a few years ago.
Recently, I took іt down tο tһе local coin shop curious tο see wһаt іt mіɡһt bе worth.
Tһе dealer tһеrе weighed іt, аחԁ offered mе tһе amount silver wаѕ selling fοr аt tһе time.
Wһеח I tοƖԁ һіm I’d bουɡһt іt fοr slightly more tһаח wһаt һе wаѕ offering, һе ѕаіԁ tһеу bυу οחƖу аt tһе weight value, bυt wουƖԁ חοt ехрƖаіח further.
Aחу collectors out tһеrе wһο′d bе аbƖе tο һеƖр mе wіtһ tһіѕ?
the reason is because that all most silver coins the weight.
if you think your coins are worth more check on ebay before you sell them to a shop , remember now adays most coins are graded .
If you are talking about the 2004 Lewis & Clark commemorative $1, then consider the following:
I assume you left it in the original plastic capsule. Removing US commemorative silver coins from the capsules is a huge no-no.
It also makes a difference whether you still have the original box and Certificate of Authenticity. (Not much difference in price between proof and uncirculated coins).
If you did all that, then your coin should go for between $25 and $30 on eBay.
Current silver value is .77 ounces * about $14/ounce or $10.78, which is low for that coin unless it has problems.The dealer shouldn’t have had to weigh it – all US silver dollars are precisely the same weight.
Added later: The questioner has informed me that the coin is indeed in the original capsule and he does have the box of issue and COA. Since this is the case, he is simply getting a very low offer from the dealer. I don’t know offhand what Green Sheet buy is for that coin, but I would guess at least $18. If this dealer is offering $12 or less, he is trying to rip you off.
common silver coins are worth silver value only. you would have to have a rare date coin to get more. You could always check on eBay to see the going rate for your coin.