New to precious metals

scrappy4

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Hello. My name is Erica. I recently inherited some coins, gold and silver from my grandfather. I have a little bit of knowledge about metal prices from working in the auction industry, but not a huge amount. I want to track the prices over time. At the moment, I don't have a huge desire to hold on to the collection and could use the extra money, so I will likely be selling. Is there a good app that I could use to calculate the price of each coin and keep a running list of the prices? Thanks! :wave:
 

scrappy4

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Awesome, thank you! Any ideas for general silver or gold scraps? I've found a couple scrap metal calculators but wasn't sure if they're reliable.
 

11C1P

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Coinflation is a very good site. This one may be of some use to you as well. http://cointrackers.com/

Are the coins you have U.S. junk silver? Do you have ASE's CSM's etc? When you say you are looking for a scrap calculator do you mean the melt value? If so whatever the current price of the metal is what the value is for coins of pure metal like CGM's CSM's etc. Junk silver the value is the weight of the coin X the silver content. So if a junk silver coin weighs 1/2 of a Troy ounce and is 90% silver then there is .45 Troy ounces of silver in the coin. If silver is at $20/ozt then it is worth $9.
 

11C1P

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If you were just looking for the current spot price, the top of this site lists them also.
 

mike

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Whatever you do, don't sell it to one of those places that only buys gold. You know the ones, where you put everything in a bag and they promise the best price.

Most of the big dealers show buy-back prices on all of their products. So you can browse around and get an idea what to expect.
 

benjamen

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I second mike; the "we buy gold" types will really try to rip you off. They quote in pennyweight because most people don't know the conversion to ounces (20 to 1). The last time I was in one of those places, they were offering 30% of melt value. You are better off with a local coin shop. I would use the buy back prices at apmex.com as a reference.
 

Maxibillion

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Do not sell the coins you received

The price of gold and silver will skyrocket in the near future. Wait it out for a while, you'll be happy you did when the price of silver goes from $20 to $50 :)
 

RKortnev

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Agree with the sell price. You should always make sure you know the exact price.

One other thing - some shops have a fee for the purchase. Make sure that you know the exact amount of that fee.

Also.., I don't like the coins. Cause its a ready product - therefore the price may vary based on a list of obstacles. I like the investment gold. It is simple and the price growth is quite predictable. At my experience the 100g bars are the best ones. They are quick to sell, easy to cash in. I love them. The 50g and the 1oz are good as well.
 

Christian

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Gold and silver have a great bullish capacity, those who bet on their fall will be surprised.
 
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