Silver coins,
There's a commercial for collector grade silver coins in a one pound bag quantity. There is no web link or name in the ad, just a 800 number to call. With my hearing or lack of I can not understand anything they say on the phone. How much do they want for that one pound bag of coins? Thanks.
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I've seen that same ad on late night TV and also wondered. What are "collector grade silver coins"? No way in heck that there are going to be any coins worth much more than the approximately $400.00 in melt value for the bag. If nobody else does, I'll just call myself to see how large this scam is. Call me a skeptic but ...
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at $20 oz that bag is only $288 worth of silver, coinage is only 90%
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Over on the on-line auction you can't get junk silver for less than $24 per $1.00 in face value. A troy pound of junk silver has a face value of $19.80. A standard pound of junk silver has a face value of $18.25. Your sell price to a coin dealer is $16.75 per $1.00 face value.
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tv add NOPE
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If we are talking silver dollars I think 1 pound is only 12 dollars. (I could be wrong).
I have a very nice coin shop a few miles from my home. I stop in every now and then. Often my visit is spurred by a radio ad. Whatever they are advertising on the radio I can get from my local guy for about 60 to 70% less.
You got to pay for all that radio advertising!!
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A collector's rule of thumb….
Never buy coins sold on TV…. They will always be over priced either in terms of collector value or even actually silver melt value…
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I use this sight to check the melt values of silver coins;
Silver Coin Melt Values with Live Silver Prices - Coinflation
I think a couple of our posters have confused or misstated pounds/ounces. Bob
Edit to add - Remember those dealers are making enough on their coins to not only pay for the commercials but make a profit for their company, so yeah they are overpriced.
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I don't like to buy stuff like this sight unseen.
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