Dumb Question about Silver coins

[wolfhound309]

I have been detecting for just over a year and have been pretty successful in finding silver IMO. I have just been saving all my coins (other then clad). I have read in places that all the silver is basically worth the scrap silver price. Is that true? It would break my heart to think that my barber half dollars or my 1929 SLQ is only worth scrap value. I know coins are all about condition but really have no idea about what they might be worth. I don't trust what coin apps tell me about the approximate value of my coins. Any help would be greatly appreciated.
Thanks

 

[aj0421]

Coming out the ground you will not find a VF or mint condition of course but some coins do have some value especially when of low mintage. My good friend found a seated half that he sent away to be graded. Pick up the "Red Book" and have a look at some the mint marks and dates that are rare and worth saving. For example a first year SLQ would be worth way more than scrap in decent condition.

 

[Ken Clad]

I don't trust what coin apps tell me about the approximate value of my coins.

I don't know how you find someone trustworthy. As I was cleaning out my parents estate, I took things to a local (brick and mortar establishment) coin & stamp dealer. Apparently everything I had was crap, and everything he had was spectacular. I called BS and left. I ended up shipping the whole works off to my sister and BIL. They had someone they had used in the past and got a good return. Shop around, ask around.

 

[metaladdict]

One detectorist in Idaho found a rare coin and got $5000, at auction.
E bay may e your best selling place.

 

[MTJosh]

I sold some above scrap to local collectors. Many collectors happy to get coins at good price and I got 10-20% above scrap. Unless amazing condition or key date, silver coins not worth much more than scrap.

I was lucky with a 1909 S VDB in decent condition. Could easily be a $1000 coin.

 

[Kansashunter]

SLQ's will easily bring $8 to $9 a piece in average condition. People want them as scrap but will pay a slight premium.

 

[Tpmetal]

Coming out the ground you will not find a VF or mint condition of course but some coins do have some value especially when of low mintage. My good friend found a seated half that he sent away to be graded. Pick up the "Red Book" and have a look at some the mint marks and dates that are rare and worth saving. For example a first year SLQ would be worth way more than scrap in decent condition.

Not necessarily true. Depends on ground conditions. I dug a 1921 d merc that I got graded at an vf with no environmental damage. Now copper coins on the other hand, will ALWAYS get the environmental damage tag.

 

[Kansashunter]

I agree, very seldom will a very nice condition coin come out of the ground, and graded it will earn the environmental damage grading that it deserves.

 

[wolfhound309]

I agree, very seldom will a very nice condition coin come out of the ground, and graded it will earn the environmental damage grading that it deserves.

Does that mean that if a coin receives an environmental damage grading that it is only worth the scrap value of the silver? I understand that the grade may be low but where does that put the value of the coin?
Thanks

 

[Cherry Picker]

For common coins out of the ground, scrap is what you'll get, but don't settle for scrap on coins with collector value. It does take some research on your part but can be well worth the time.

 

[hoser]

Keep in mind that even at melt value, a 90% silver coin will net you a lot more than face value. a Merc is $2.09 melt and a Washington is just over $5. And that is just for one coin. A silver quarter is worth the same as 20 clad quarters. Now throw a low mintage in good condition, that just ups the score.

 

[Right Brain]

Hold onto them, silver's going up.

 

[HungryGhost]

Silver jewelry I sell (usually at scrap value) silver coins I stack.

 

[diggin4clad]

The fact is, most silver coins are indeed just worth scrap. The exceptions are the coins that are scarce or rare dates. A 1929 SLQ in low grade can be bought for not much more than scrap and I've gotten quite a few SLQ's and even Barbers that would grade G-VG at coin shows for scrap price. The best way to get an idea as to what your coins are really worth is to educate yourself by studying reliable price guides and attend either coin clubs, coin shows, or both. Also, most price guides list retail values so be prepared to get less for them if you sell than the "book value".

 

[Rock Jock]

Other things that affect the value is physical modifications of the original coin, to include cobbing, clipping and sectioning, double striking and such manufacturing oddities, and countermarking, the striking of something else across the face of the coin.

 

[TundraPlugger]

I have been detecting for just over a year and have been pretty successful in finding silver IMO. I have just been saving all my coins (other then clad). I have read in places that all the silver is basically worth the scrap silver price. Is that true? It would break my heart to think that my barber half dollars or my 1929 SLQ is only worth scrap value. I know coins are all about condition but really have no idea about what they might be worth. I don't trust what coin apps tell me about the approximate value of my coins. Any help would be greatly appreciated.
Thanks

I would say for the most part silver coins, common ones anyway, are only worth the silver value. The older ones, if not damaged, can be worth decent to very good money.
A few years ago I dug up a 1921-D Mercury dime in Orrin, ND. I didn't see what it was when I dug it so I put it in my pocket with the dirt still on it so I could spray it off when I got back to my truck. I didn't want to scratch by wiping it before hand just in case it was something good.....in this case it was! $900 good! I sent it into NGC to get it certified and since it was in such good condition and since I didn't wipe it and put hairline on it it got a straight grade of XF45!
I think overall if your Silvers still have a bit of meat on the bones and they aren't damaged they are worth what the price guide says. I consider common silvers and damaged silvers melt value.

 

[IDXMonster]

Completed items on eBay are your friend to get you in the ball park when trying to determine if your coin is worth more than scrap value. As always…any coin is worth exactly how much someone is willing to pay for it.

 

[GTimberMT]

Not necessarily true. Depends on ground conditions. I dug a 1921 d merc that I got graded at an vf with no environmental damage. Now copper coins on the other hand, will ALWAYS get the environmental damage tag.

I agree, I dug up a 1922 Peace Dollar that was in INCREDIBLE shape. I haven't gotten it graded or anything but based off the book it's VF at least. All the details in the feathers, no wear on any of the details. Coppers don't have a chance tho.

 

[Cherry Picker]

This one spent many years in a watering hole on the Santa Fe Trail. Excellent shape but I'm afraid to touch it. It has a film of some kind from the water but is still in good enough shape that the letters cast a shadow.

 

[FreeBirdTim]

Common silver Washingtons, Rosies and Mercs are usually worth the melt price. Most dealers will pay at least 10% over melt price for older silvers, such as Barbers and Seated coins. Melting those coins down would be a stupid thing to do, in my opinion.