Expert: Troy Thoreson - 4/20/2009

Question
QUESTION: I'm wondering what is the value of my collection. This set contains 36ea. 2500 grain 1 oz bars and is contained in a Walnut display case. George Washington through Nixon. I also have Regan and Carter in a separate case. These were minted by Danbury Mint and was something my father had collected for me.

ANSWER: Hi Greg,

The collector value of these medals is shot along with the economy.  There is a slight chance you will net more by selling on eBay vs. a coin dealer.  Because the units are sterling (I believe they are 925 fine or sterling silver) and/or are not standard .999 find 1oz Silver Bars you will find that most dealers will figure then at 75% to 100% of melt depending on their customer demand.  The liquid value is 90% of melt plus assay fees if refined.  Currently, silver is around $12 per oz, so you can do the math.  There are 480 grains in 1oz of Silver.  I hope this helps answer your question.

Please remember to never clean coins, this can damage and lessen their value.  Also, soft plastics can contain harmful chemicals that can react with coins over time.  Try using inert materials when storing coins.  Plus, it is always a good idea to store coins in a safe.  The safe should not be exposed to the elements and should not be up against a wall to the outside.  These are just a few tips I have learned over the years to help keep your collection in top shape.

If you found this information helpful please nominate me for category expert in coins.  If coming through Los Banos, CA please feel free to look us up at Thoreson Numismatics.

Thanks for the question,

Troy Thoreson, aucpro.com



---------- FOLLOW-UP ----------

QUESTION: Thanks for your reply! What would be a fair asking price for the set?? (I'm terrible at math!)

ANSWER: Hi Gary,

1oz and 2500 grains is a contradiction and not possible.  Can you reply with the exact hallmark on the bars?  2500 grains = over 5 ozs.

Thanks, Troy

---------- FOLLOW-UP ----------

QUESTION: Ok, I may have incorrectly stated the weight. However, on the sides of each ingot this is what is stated. Presidential Ingots Collection - First Edition
2500 Grains Sterling Silver.
Series of 4 small squares. I can only make out an H in the 2nd box, number 74 in the 3rd, and a P in the fourth. Thats all I got. I appreciate your assistance! Greg

Answer
Hi Greg,

Thanks for the confirmation.  Those are heavy units.  Liquid value is around $1650.00 at current market levels.  You can expect offers between $1500 and $1850.  Actual Melt value is approx $2050.  

Please remember to never clean coins or medals, this can damage and lessen their value.  Also, soft plastics can contain harmful chemicals that can react with coins over time.  Try using inert materials when storing coins.  Plus, it is always a good idea to store coins in a safe.  The safe should not be exposed to the elements and should not be up against a wall to the outside.  These are just a few tips I have learned over the years to help keep your collection in top shape.

If you found this information helpful please nominate me for category expert in coins.  If coming through Los Banos, CA please feel free to look us up at Thoreson Numismatics.

Thanks for the question,

Troy Thoreson, aucpro.com



I hope this helps!  Thanks! Troy