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Where to sell "scrap" pre-1947 silver coins?


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#1 Oxford_Collector

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Posted 26 February 2010 - 09:37 PM

Hi - I've inherited from my grandfather a (lined) tobacco tin full of "scrap" pre-1947 British 50% Silver coins, about £8 face value worth (about 895g / 31.5 oz total weight, or about 447.5g/15.75 oz of actual silver) - in the tin was a note saying "Note - Real Silver Coins to 1946, keep for future generations", so he must have collected these together deliberately! I say "scrap", though they're actually in a range of conditions all the way from a few very worn Good/Fine examples to some very nice EF+ specimens, though most are somewhere in between. They're mostly half-crowns, florins and shillings, though also a fair few sixpences and a single 3d coin. A few of them are pre-1920 (sterling silver), though these are all very worn.

Where would be a good place to sell these for a fair price (and what would be a fair price, given that silver is about £10.80/oz at the moment)?? There seem to be many "we buy scrap silver" rip-off merchants advertising online, but I don't have the time or patience to sell these individually on eBay etc., though no doubt could raise more if I sold the better ones off singly. Any advice would be most welcome! Thanks

Paul

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#2 declanwmagee

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Posted 26 February 2010 - 09:46 PM

Hi - I've inherited from my grandfather a (lined) tobacco tin full of "scrap" pre-1947 British 50% Silver coins, about £8 face value worth (about 895g / 31.5 oz total weight, or about 447.5g/15.75 oz of actual silver) - in the tin was a note saying "Note - Real Silver Coins to 1946, keep for future generations", so he must have collected these together deliberately! I say "scrap", though they're actually in a range of conditions all the way from a few very worn Good/Fine examples to some very nice EF+ specimens, though most are somewhere in between. They're mostly half-crowns, florins and shillings, though also a fair few sixpences and a single 3d coin. A few of them are pre-1920 (sterling silver), though these are all very worn.

Where would be a good place to sell these for a fair price (and what would be a fair price, given that silver is about £10.80/oz at the moment)?? There seem to be many "we buy scrap silver" rip-off merchants advertising online, but I don't have the time or patience to sell these individually on eBay etc., though no doubt could raise more if I sold the better ones off singly. Any advice would be most welcome! Thanks

Paul


stick 'em on eBay as a single lot, Paul - you can't touch it for reaching as many coinies as possible in one hit

#3 Oxford_Collector

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Posted 26 February 2010 - 10:03 PM


Hi - I've inherited from my grandfather a (lined) tobacco tin full of "scrap" pre-1947 British 50% Silver coins, about £8 face value worth (about 895g / 31.5 oz total weight, or about 447.5g/15.75 oz of actual silver) - in the tin was a note saying "Note - Real Silver Coins to 1946, keep for future generations", so he must have collected these together deliberately! I say "scrap", though they're actually in a range of conditions all the way from a few very worn Good/Fine examples to some very nice EF+ specimens, though most are somewhere in between. They're mostly half-crowns, florins and shillings, though also a fair few sixpences and a single 3d coin. A few of them are pre-1920 (sterling silver), though these are all very worn.

Where would be a good place to sell these for a fair price (and what would be a fair price, given that silver is about £10.80/oz at the moment)?? There seem to be many "we buy scrap silver" rip-off merchants advertising online, but I don't have the time or patience to sell these individually on eBay etc., though no doubt could raise more if I sold the better ones off singly. Any advice would be most welcome! Thanks

Paul


stick 'em on eBay as a single lot, Paul - you can't touch it for reaching as many coinies as possible in one hit


I was wondering if that might just be the best approach. BTW are there any "desirable dates" (1920-1946) I should look out for, as possible candidates for selling singly, if in nice condition?

#4 Oxford_Collector

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Posted 26 February 2010 - 10:13 PM

I was wondering if that might just be the best approach. BTW are there any "desirable dates" (1920-1946) I should look out for, as possible candidates for selling singly, if in nice condition?


Aha! Have just spotted Key Dates :rolleyes:

#5 Chris Perkins

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Posted 27 February 2010 - 12:12 AM

I'd offer 12 and a bit x face value, or £100 for the £8 face value. That's pretty good as .500 fine is always lower than sterling because it's less useful and would have to be refined.

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#6 Oxford_Collector

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Posted 27 February 2010 - 01:59 PM

I'd offer 12 and a bit x face value, or £100 for the £8 face value. That's pretty good as .500 fine is always lower than sterling because it's less useful and would have to be refined.


I could be tempted, would you cover postage?

Have just double checked, this is what comprises the collection:

24 Half-Crowns
29 Florins
33 Shillings
19 Sixpence
1 3d

I Make that £8.0375 face value

Paul

#7 Peckris

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Posted 27 February 2010 - 02:30 PM


I'd offer 12 and a bit x face value, or £100 for the £8 face value. That's pretty good as .500 fine is always lower than sterling because it's less useful and would have to be refined.


I could be tempted, would you cover postage?

Have just double checked, this is what comprises the collection:

24 Half-Crowns
29 Florins
33 Shillings
19 Sixpence
1 3d

I Make that £8.0375 face value

Paul


The key dates are 1925 (2/6, 2/-), 1930 (2/6), 1932 (2/-). If in superior condition (at least GVF+), you could add to that list :-

1924, 1926 (2/6, 2/-), 1925 (1/-), 1930 (1/-), 1932 (2/6), 1934 (2/6).

1938 silver is also ok if minimum EF.

Edited by Peckris, 27 February 2010 - 02:31 PM.


#8 Chris Perkins

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Posted 27 February 2010 - 06:22 PM

No, I wouldn't cover postage. There really isn't a greedy amount of profit in them. I'd save them with others and then sell a single larger lot within the jewellery trade. Let me know and I'll provide a London address.

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#9 Peter

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Posted 01 March 2010 - 01:06 PM

No, I wouldn't cover postage. There really isn't a greedy amount of profit in them. I'd save them with others and then sell a single larger lot within the jewellery trade. Let me know and I'll provide a London address.


It is a good offer...I've sold scrap silver on Ebay but after fees'paypal etc...and the "unknown" factors!!!!!!!
if you do go the Ebay route my advice is to split into 2 lots

#10 Oxford_Collector

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Posted 01 March 2010 - 01:49 PM

No, I wouldn't cover postage. There really isn't a greedy amount of profit in them. I'd save them with others and then sell a single larger lot within the jewellery trade. Let me know and I'll provide a London address.


Okay, am still interested, will check out how much postage would cost me, then will get back to you.

#11 Oxford_Collector

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Posted 01 March 2010 - 02:56 PM


No, I wouldn't cover postage. There really isn't a greedy amount of profit in them. I'd save them with others and then sell a single larger lot within the jewellery trade. Let me know and I'll provide a London address.


Okay, am still interested, will check out how much postage would cost me, then will get back to you.


Apparently via Royal Mail, second class postage up to 1Kg would be £2.70 (but no insurance, I think), or £4.41 for a standard parcel (with £100 compensation for an extra £1) - which do you think would be my best option? Thanks

Paul

#12 Chris Perkins

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Posted 03 March 2010 - 11:38 AM

Strictly speaking, it doesn't matter because if they did get lost (which is unlikely) the insurance wouldn't cover them as 'money' and as they are also a precious metal. Postal Insurance for items of value covers everything....but if you read the small print, it has a get out clause for most items, erm, of value! Send them recorded so that at least you have tracing capabilities.

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