Coin and Paper Money Collecting/How to sell???

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Expert: - 3/20/2008


Question
Hi Dan
I'm not sure who to ask about selling a Birks sterling silver tray. I know alot of people are buying scrap silver these days---but I'm not sure how to read the charts about the silver prices on stock market etc.. I could use the money and the tray is not an heirloom or anything..just a yard sale find. Any tips on how NOT to get ripped off??
ANY help would be apprediated..thank-you Val

Answer
Valerie,

I hope you had a nice holiday.

To find the value of your tray, you first need to weigh it.  You cannot do this with a regular mailing scale -- you must weigh it either in TROY ounces or grams.  If you weigh it in grams, divide by 31.1 to get TROY ounces.

Once you have the weight in Troy ounces, multiply by 92.5 to convert from Sterling to pure silver content.

Then multiply this by the current price of silver (available any time at www.kitco.com), and this will give you the current silver value.

Any reputable dealer will give you aproximately 90% of this amount for your tray.

I hope this helps,

Dan

Coin and Paper Money Collecting

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Dan Moore

Expertise

My strong familiarity with all U.S. Mint coins, extensive reference library, and close relationships with many other dealers allows me to identify just about any coin made in the USA. I receive regular updates to all the current price guides -- both wholesale & retail -- to provide accurate values. So, with a good description or pictures, I should be able to identify and value any U.S. coin you have.

Experience

I've been a coin dealer since the 1980's and a coin collector since the 1960's. I specialize in U.S. Silver Coins and have an active online website -- The Working Man's Rare Coins -- http://www.workingmancoins.com -- offering information and inventory in U.S. coins.

Organizations I belong to :
American Numismatic Association Member #187770
Michigan State Numismatic Society Member #8255
Florida United Numismatics Member #19710
Monroe Coin Club Treasurer
Lincoln Coin Club Board Member
WINS Member #14
CoinMasters Member #1814

Frequently Asked Questions :
I have created a Frequently Asked Questions page on my website, where you may be able to get an immediate answer to your question. You can find the page here :
http://www.workingmancoins.com/FAQ/index.htm


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