Expert: PAPAJACK - 12/12/2009

Question
1899 dollar coint is in ok condition although not mint condition compared to those described as such as I see on eBay. I am retired and need some cash.  

Answer
Hello,      

Happy Holidays to you!
These are Morgan type dollars. You can check the current silver market at this site:
http://www.kitco.com/charts/livesilver.html

Although the market value for an ounce of silver changes daily the silver melt value will be less for things like coins due to the cost of refining the material to recover the Silver.
The information I have says it was 12.95 last weekend I now see the closing 13.6 was about $12.59 you can subtract 3% to 15% depending on who you sell it to for melting.

Rough figuring shows it should be about 14 times the face value of a 90% silver coin. So $14.00 for 1 silver dollar.

I would only send coins to melt if they were not worth anything to a collector though. You would see a much higher price than melt-value for them.

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Good Luck

PapaJack