Expert: Dmitry Livshits - 11/21/2009

Question
If a person had about 150 pre-1964 silver dollars, how many would be required to trade for a one ounce gold coin?   How would one go about making a trade?

Answer
Hi Buck,
I assume you have Morgan and Peace silver dollars from the 1920's and earlier? Common dates in used condition are the only ones that I would recommend trading, since the better dates and even common dates in mint condition have more collectible value than silver bullion value. A fair trade would be around 115-120 coins. Honest dealers buy them as silver bullion for 10x face value, or $10 a piece. The current market value of pure gold is $1,150 per ounce.
The best place to inquire about such a trade is one of those local guys that have the "Buying silver and gold" businesses. You may have to throw in 5 or so silver dollars on top of a straight trade, since they normally do not make a trade unless it's worth their while.
At the very least you can simply sell the dollars at face value and buy a 1 ounce gold with the profit. Just make sure to check the dollars for better dates and mint condition coins, which you can sell for more than bullion value.
Please don't forget to rate this answer.
Thanks for the question! =)

PS: It certainly is a big guessing game. My personal opinion is that both silver and gold will go up, but the ratio of values will remain about the same. Thanks again! =)