Options
how do you calculate melt when silver is at 14.98????, thanks for anyones help
chiniu67
Posts: 147 ✭✭
If I 90% have silver, I will call it surplus silver and I paid 11.4/dollar, can I sell it for a profit
could I sell it for 12.4/dollar or close to that....I know that silver bars like Engelhard seem to get a premium.
thanks for any help in trying to learn the selling buisness a bit
APS
0
Comments
In an ideal buy/sell there is a 5% Spread.
Bid $10.29
Ask $11.38
You paid ask, so to sell you would need a 10% or higher spread. So most likely no.
Successful Trades: Swampboy,
Typically you should pay no more than melt on 90%. Selling at spot is relatively effortless so long as you avoid the blood sucking dealers and stick collector to collector, eg Craigslist. If you got BU or even older AU you may even find some yinzer willing to pay a tad over spot. Good luck and congrats!
The whole worlds off its rocker, buy Gold™.
What is it? BU halves could bring 11.9. Circ dimes? Not even close.
Remember to add in any selling expenses like S&H and also realize that current melt on ave circ 90% is 10.7X so buying at 11.4 you're paying 6% over melt to begin with. Not a good start.
The thing about this thread is that making money by flipping 90% silver coin is a marginal proposition.
The other thing that this thread shows is that you can use 90% silver coin as a savings vehicle that will probably always be liquid. You may benefit from a price rise or you may take a hit if the price drops, but that's not much different from buying stawks.
I knew it would happen.
I would only buy 90% at melt... and then I would stick to half dollars... That is my preference, others certainly differ. Cheers, RickO
Good luck !!!
To answer the question in your thread title, assuming you are talking about 90%, multiply silver spot price by .715
14.98 x .715 = 10.71x face value.
The whole worlds off its rocker, buy Gold™.
silver content/value in US coins
Shows current/live data based on current silver spot price. A good link to save.
Give Me Liberty or Give Me Debt
Are you expecting to buy key dates and flip them like the 90%? You might want to rethink that as well.
Rule #0: Quickly flipping physical silver is rarely profitable.
Loves me some shiny!
flipping anything is a disaster. The seller is fighting ego a lot of the time. The idea that a seller's item is worth more than that belonging to any other tom dick and harry primarily. Flipping cars , houses , baseball cards whatever. Its all basically shined up dreck , that you feel your own golden touch somehow improved it over what you paid.
Everyone disagrees on relative value. Example I stop at a coin shop they want 13x face recently , they had a huge tub I picked out 20 dollars face in SLQ's with full dates . I feel like I got over on them a little but them owning a store they probably know better.
My theory is I'm not flipping , its a 10 year plan at least for that. Why was it in the bin with the circulated washington quarters though? Maybe they held it for 10 years and gave up and I may as well.
I know it was better to pick those out than buy roosies or washington quarters for the same price, a better idea may have been to pass completely. Time will tell.
Best advice , don't fall in love with the smell of your own farts
Lol, wow this crook is still at it? People stay away from this guy he has had like 3 aliases and still owes me, Alain P Sterk, Illinois, many threads on here about him, guys a legendary zit always popping up..,
Welcome back RT1.
Knowledge is the enemy of fear
flipping anything is a disaster. The seller is fighting ego a lot of the time. The idea that a seller's item is worth more than that belonging to any other tom dick and harry primarily. Flipping cars , houses , baseball cards whatever. Its all basically shined up dreck , that you feel your own golden touch somehow improved it over what you paid.
Excellent observation!
Lol, wow this crook is still at it? People stay away from this guy he has had like 3 aliases and still owes me, Alain P Sterk, Illinois, many threads on here about him, guys a legendary zit always popping up..,
Thanks for the reminder. I forgot about that name. Hey man, I second that - welcome back!
I knew it would happen.
You can buy sterling silver flat wear on eBay for melt or little below melt and use them at home. After couple years you should be able to resell them at a little profit especially if you get ebay bucks
also, keep in mind that due to market demand, there is often a positive and/ or negative premium associated with calculations, This premium adjustment can be positive or negative irregardless of the price trending up or down.
For example, say silver jumps to 15.30 an oz, but there is a 35c negative premium on 90%, so then you would calculate 15.30 minus 35c or 14.95 x .715
Hey guys thanks for the wb’s, was hoping I got some visitors at the Sacramento coin club show but don’t think any you guys posted...
Remember that a dollar face value of 90% silver coins (other than silver dollar) actually contains .7234 oz. of silver, not .715 oz.
The .715 oz. number comes from bullion traders and dealers who use that number to adjust for average wear that is seen on 90% silver when weighing out bags of $1000 face value. But a bag of BU 90% halves, should weigh 723.4 oz. while a bag of worn dimes or really worn Barbers could weigh below that average 715 oz. figure.
But for most coin show transactions, the .715 vs. .7234 difference probably doesn't add up to a really big dollar difference. But as silver prices go up and/or the amount of silver you are trading increases, expect to see more and more people weighing the actual coins instead of using a multiple of face value.
That said, whenever I see dealers using the .715 oz. figure in their calculations, I'm happy to buy all of their BU "junk" at those prices... thanks for the little bit of "free" silver
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448