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US MARKET FOR 80% PURITY CANADIAN JUNK SILVER?
CoinHoarder
Posts: 2,462 ✭✭✭✭✭
Will most places in the U.S. that buy U.S. 90% junk silver, also buy 80% Canadian junk silver?
If so, using the Coinflation Canadian silver chart as an indicator of current value, approximately how close to spot can you expect to get for the 80% Canadian junk silver when you sell?
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Where I live 80% and 50% Canadian silver coins are a very tough sell just like 40% Kennedy half’s and 35% war nickels.
I have found you need to buy them at a major discount to melt and be able to sell at a discount to melt. Personally, I stay away from them.
Only exception is if silver is going up crazy then you might get melt.
I forgot to write last time some was sold it was a 25% discount to melt.
I used to buy a lot of 80% Canadian and sold it all during the 2010-2012 hype. Dealers and LCS all offered under spot but I was able to get rid of most selling private party with a premium but probably only 3-5%. I did acquire almost all of it under melt. It was almost all BU and a much better deal to "stack" (ASW) compared to the 90% slick American stuff but the market majority thought otherwise. At the end of the day in my experience it probably wasn't worth the effort but that's why it's called The Gutter. I personally like it and wouldn't hesitate to buy again if the price were right.
The whole worlds off its rocker, buy Gold™.
On eBay its a hot market.
I'd actually consider it if I was getting a pretty decent discount from melt. Metal detecting competition hunts are having trouble maintaining decent amount of targets in current environment and this could be a win win for both seller to easily unload and those of us have to buy for hunts every year.