Redeeming This Coin

[TromboneAl]

DW is putting all our loose change in rolls ($72 total), and she came across this coin:



According to the Internets, an ounce of silver is worth about $13, though I'm guessing the coin is worth less.

Can we just take this to the bank? If not, how do we redeem it?

 

[calmloki]

Gold Coins and Bullion Dealer - American Gold Eagle, Canadian Maple Leaf, Panda and Krugerrand Gold Coins

 

[ziggy29]

What's the other side of it look like? Most likely, if it's recognizable to coin dealers who trade in gold and silver bullion and the weight is correct for a silver round, you could sell it there. Most likely you'd be offered around $10-11 at current silver prices by a dealer, I'd bet.

 

[TromboneAl]

Other side has an eagle and a liberty bell. I'll take it in to a coin shop, thanks.

 

[FUEGO]

It looks like a silver slug. Basically worth what the silver is worth. If it is some sort of official mint currency (US or abroad) it would have some additional value.

Nymex is quoting $10.70 for an ounce. These prices can change a lot though. I'd take $9-10 from a coin dealer if offered for a slug.

 

[Tykimeister]

Or you could just sell it to a forum member? I collect coins. It is just a troy ounce of silver. People buy them for relatives, newborns, or just to keep some silver in the safe. You can also sell it on ebay and get more than a dealer. However, with the time, fees, and such, it isn't really worth it for one coin. A dealer will give you $10+ for it.
Ty

 

[Trek]

You should save it for when the world financial systems completely collapse and you need to trade precious metals for food and services.