What's the going rate for junk silver?

Mercury10c

Thanks.

gecko109

spot price x .715 = face multiplier

roadrunner

We are basically zeroing in on 13X face for 90% silver coin.

roadrunner

Deadhorse

<< <i>We are basically zeroing in on 13X face for 90% silver coin.

roadrunner >>



Yes, that would be for silver content only. It's at $12.87 to be more precise with spot at $18 even.

But in the real world, 90% silver coins don't trade at anywhere near that rate.

I'm sure you know this, but some folks might not understand how things work and might be led to believe they have items that are more valuable than they actually are.

I'd be very happy to sell thousands and thousands of dollars in 90% melt coins for the silver content alone.

That's why I tend to hoard away .999 fine silver, though I do deal quite a bit in 90% melt coins as well.

quickwing

90% is 13X face to equal the spot price of silver @ $18.00.
But you can buy it at 11X on the BST board now 90% Silver Coins

derryb

Up to date silver coin values

SamByrd

so who is buying small amounts of junk silver have 100 bucks or so face 90% maybe time to clean out the junk.

percyb

A roll of junk washingtons is about $90 or so. Edit to correct: Make that $120 a roll.

p8nt

Coinflation.

mach19

Try coinflation.com It tells you up to date prices on silver coins for melt. Add it to your favorites

mach19

One of these day's I will learn how to post a link, However it won't be tonight

Mar327

Deadhorse

<< <i>so who is buying small amounts of junk silver have 100 bucks or so face 90% maybe time to clean out the junk. >>



I'm always buying "junk" silver, have been for years.

Small amounts, large amounts, etc.

My PM is turned on.

Deadhorse

<< <i>90% is 13X face to equal the spot price of silver @ $18.00.
But you can buy it at 11X on the BST board now 90% Silver Coins


>>



Well, actually it's not. As I posted above, at $18 spot, one dollar of 90% US coins are worth $12.87 for their silver content.

Buying at 11 X face is not a bad deal as long as silver doesn't pull back and those of us who deal in silver a lot know that it can swing wildly as much or more than 10% in one day sometimes.

Seen it happen all too many times.

Also, if the coins are worn, then many dealers will actually weigh them, Apmex does as does Kitco for example and you may end up with 5-10% less than you thought you had. Some weigh, some don't. Some simply go by the coin count.

TwoSides2aCoin

One man's junk ...



is another man's jewels

robkool

11 to 12 x face for 90% silver coinage...

coindeuce

<< <i>spot price x .715 = face multiplier >>

That might be O.K. for buying $500 face or more, but buying piddly amounts at that rate would kill a business REAL quick.

quickwing

<< <i>Well, actually it's not. As I posted above, at $18 spot, one dollar of 90% US coins are worth $12.87 for their silver content. >>



I think we're splitting hairs. I know your the expert and buy lots of silver. BUT my calculator shows:

Half=.36169oz X 18.03 = $6.52 (or 13 X the face value of $0.50)
Quarter=.18084oz X 18.03 = $3.26 (or 13 X the face value of $0.25)
Dime=.07234oz X 18.03 = $1.305 (or 13 X the face value of $0.10)






<< <i>Buying at 11 X face is not a bad deal as long as silver doesn't pull back and those of us who deal in silver a lot know that it can swing wildly as much or more than 10% in one day sometimes. >>





<< <i>Also, if the coins are worn, then many dealers will actually weigh them, Apmex does as does Kitco for example and you may end up with 5-10% less than you thought you had. Some weigh, some don't. Some simply go by the coin count. >>




:

Best left to those that deal junk and understand all the nuances. This is a flip for me and I don't know how many more middle men can step in have a profit? Thanks for your accurate comments Deadhorse.

ProofArtworkonCircs

Well, well, this is fascinating. A previous listing on this tread shows a page from a Whitman folder. The Whitman folder copywrite 1960 states the Franklin half has th initials "JS" on the base of the bust. Walter Breen's encylopedia says the same thing. The Roosevelt dime had "JS" on it. This led to rumours that it stood for Joseph Stalin. To prevent trhis from happening again the mint added an "R" to give "JRS" after John Sinnock's death. Evidently it didn't work, did it?