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If selling silver rounds, what price should I expect to get (what is the typical formula)?

LongacreLongacre Posts: 16,717 ✭✭✭
in U.S. Coin Forum
If I am looking to sell some one ounce silver rounds to a local dealer, what price can I expect to get? Do dealers typically work off of a formula, like spot less x%?
Always took candy from strangers
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Never want to be like papa
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--"Happy", by the Rolling Stones (1972)

Comments

  • CladiatorCladiator Posts: 18,230 ✭✭✭✭✭
    Sell them on eBay for full retail +. A dealer is going to give you below spot because they need to make a profit on it as well.
  • 291fifth291fifth Posts: 24,667 ✭✭✭✭✭
    American Silver Eagles should bring about $1 above spot. Canadian and Mexican ounces will probably bring around spot. Ordinary commercial silver rounds and ingots will probably bring about 50 cents under spot. This will vary by dealer, so call around.
    All glory is fleeting.
  • relayerrelayer Posts: 10,570 ✭

    Since silver rounds are not assayed and most likely made in somebody’s basement, no dealer will pay much for them.

    Sell them to nice people on eBay
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  • beartracks42beartracks42 Posts: 2,834 ✭
    this past weekend at our Coin Club show, dealers were paying $11.00 per ounce for any silver stamped 99.999 pure.
    Gary
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  • LongacreLongacre Posts: 16,717 ✭✭✭


    << <i>Since silver rounds are not assayed and most likely made in somebody’s basement, no dealer will pay much for them.

    Sell them to nice people on eBay >>




    These are those "Prospector" rounds that were popular way back when. I thought they were reputable.
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • WeissWeiss Posts: 9,942 ✭✭✭✭✭
    Prospector rounds are Englehard. Don't sell them to anyone under spot. They should go for spot easily, and if you hype them on eBay, you might get more than spot.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • DrizztDrizzt Posts: 1,036 ✭✭✭
    Yup. I would rate Englehard next after US Mint for bullion coins to be trusted. (Maybe I'd say more trusted after a beer or two...)
  • BigD5BigD5 Posts: 3,433 ✭
    I love when people give the advice to sell this stuff on Ebay. The Ebay fees and Paypal (if you take it) will eat up the profits on this sort of stuff. Dealers work short on this type of material, and "retail" isn't much above what a dealer is going to pay.

    BigD5
    LSCC#1864

    Ebay Stuff
  • JJMJJM Posts: 8,089 ✭✭✭✭✭
    I love when people give the advice to sell this stuff on Ebay. The Ebay fees and Paypal (if you take it) will eat up the profits on this sort of stuff. Dealers work short on this type of material, and "retail" isn't much above what a dealer is going to pay.

    Exactly !
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  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>These are those "Prospector" rounds that were popular way back when. I thought they were reputable. >>



    Very reputable.

    Still, the Brick and mortar guys will be back of spot by 25 cents or so, they gotta make a small profit. It does vary by dealer, though.

    PM me, I'll pay spot. If you only have a few it might not be worth the hassle to ship them off. Otherwise, let me know.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff

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