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Redeeming This Coin
Old 01-13-2009, 01:01 PM   #1
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Redeeming This Coin

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

Coin 001.jpg

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?
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Old 01-13-2009, 01:04 PM   #2
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Gold Coins and Bullion Dealer - American Gold Eagle, Canadian Maple Leaf, Panda and Krugerrand Gold Coins
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Old 01-13-2009, 01:04 PM   #3
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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.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 01-13-2009, 01:55 PM   #4
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Other side has an eagle and a liberty bell. I'll take it in to a coin shop, thanks.
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Old 01-13-2009, 02:49 PM   #5
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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.
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Old 01-14-2009, 08:06 PM   #6
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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.
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Old 01-15-2009, 02:43 AM   #7
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You should save it for when the world financial systems completely collapse and you need to trade precious metals for food and services.

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