Question regarding SL Quarters and pricing

[JobIII]

Hi All,

I have been offered a small lot of Barber and SL quarters, but many of them are very worn or slick. Should I just low ball to protect myself from paying too much? They are trying to sell them as junk silver.

Assuming 20x is for average grade 90%. Would it be too much of a drop to start at around say 15x. I don't have a scale so perhaps I should avoid this deal altogether.

Thoughts comments welcomed as this deal may be open to other buyers.

thanks,
JobIII

[db23]

Time to buy a scale. They are pretty cheap and are very useful for things like this. If they are that worn, I wouldn't buy them w/o a weight.

[JobIII]

say each quarter is only 50% of their original weight, does that make them 10x face in silver? (assuming a new silver quarter is worth 20x face)?

[Engineer]

say each quarter is only 50% of their original weight, does that make them 10x face in silver? (assuming a new silver quarter is worth 20x face)?

If they were down to 50% of their original weight, you wouldn't be able to tell what they were. To give you an idea, an AG3 merc is typically around 90% of its original weight.

[JobIII]

I guess most of the coins you can make out the features (not necessarily the dates). Haven't seen them, I need to drive 60 miles each way get to the seller. So really I'm at a point where just going would be some what costly...

[Country]

Worn SL quarters maintain their SILVER a little better than the slick dimes. Typically, they are worn down 5% or so. Given the 715 standard, the expectation is circulated coins are to be assumed about 1.4% worn. So, with SL slicks, you need to be compensated for the extra 4% of wear.

If the current rate for junk is 20X, a fair price would be 19X; a good price would be 18X.

[beauanderos]

a freshly minted silver quarter weighed 6.25 grams. Worn SLB's would weigh 5.95 - 6.05gm, worn Barbers 5.6 to 5.9gms. Using an "avg" weight factor for the SLB's they will weigh 96% of new (715 convention is 98.89%). The Barbers would be 92.8% of new. You can offer a percent or so below what "full wt" silver would be, be advised that you can turn around and sell them as "full wt" to APMEX (if you have a large enough lot). This lot, if half of each, would be 690 to 700 convention, or even a bit lighter.

[JobIII]

By my math I think these coins are somewhere around 600 convention. So these must really be slick down to the core?

[beauanderos]

By my math I think these coins are somewhere around 600 convention. So these must really be slick down to the core?

Those would have to be some danged slick coins. I've never weighed any group less than 630.

[JobIII]

I may have this wrong, but since the overall weight and face value of the coins is known I feel i'm getting a good deal on 90% silver. His asking price is below melt for the weight of the coins.

[Josh.]

I learned quite a bit in this thread, thanks for posting it JobIII.

None of them are culled, correct?

[JobIII]

I'm happy this helped someone. I haven't seen them so I can't really tell you if they are culls or not. I hope that the dates are visible on most of them.