While cleaning out a drawer last weekend, I found a few 1oz silver bullion coins. Can anyone recommend a trustworthy silver bullion buyer in our area of town who doesn't charge excessive commissions?
silver bullion dealer in area?(6 posts)
Mondoman - if you have "silver rounds" they are privately minted and are normally 1 troy oz of 99% silver so they are bought at the going silver buying rate. West Seattle Coins and Bellevue Coins (same folks) do a free appraisal so they are worth a try. Looks like silver is around $32 an oz. at the moment.
I have some old silver "coins" that I need to check, thing with coins is that they can be worth a lot more that the silver value depending on condition and how rare they are so that makes it a bit more complicated than "rounds". US silver coins minted before 1964 are 90% silver so they are worth about about 20 times their face value in any condition! I always check my change for pre 1964 coins, they still turn up. At one time in my career with King County/Metro Transit, I worked in the money counting office and we often had silver coins and rounds (and all manner of foreign coins) come through the fare box revenue. As workers we could buy the coins for the face value of the coin. Some of us had quite a stash of silver and foreign coins. Foreign coins we could buy for 3 cents each! I bought all the UK coins and a Japanese co-worker bought all the 500 yen coins. It made a tedious job into a fun job.
Every time I went back to the UK in those days I had bags of assorted British money in my check in bags. My daughter once got pulled out of line to have her bag scanned (this was pre 9/11) and I had to explain what the mass of round metal objects were to some perplexed security folk, she had about 80 pounds sterling in assorted coins in her suit case and back in the 1980s that was a goodly some for a young person.
The thing with foreign coins is that banks here will not exchange them for dollars so most people don't want them.
The whole US silver-in-coins story IS an interesting one. I noticed a 90% silver dime in my change a few months ago, which was pretty neat.
I think foreign coins (along with foreign stamps, fast disappearing as we stop using physical mail) can be a fun and inexpensive way of exciting children's interest in other countries and cultures. What with different languages and even alphabets, pictures and currency systems, you've got a big window into a foreign culture packed into a small package.
I'm afraid my tiny hoard is just a few American Silver Eagles from the 2000s. I've seen and heard the West Seattle/Bellevue ads, but was hoping someone was in (my) biking range. I may have to use the bus!
There is a guy just past 80th on the east side of the street. Quarter of the way up. I have used him and he is the most fair of all I believe. I have had nothing but good interactions with him. He writes you a check and has an agreement with his bank to cash them with no charges if you are not a member of that bank. Try that.
oops...on the east side of 15th...forgot that part
pug, thanks for reminding me -- I now remember seeing that coin shop when driving up there.
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