Non-PM collector looking for advice, please

ram1946

My local B&M shop is offering 12.5x for 90% silver (I have a bit over $70) and $1.25 for each 40% Kennedy (I have about 140 or so). Given that sales involving mailing, including the BST, requires extra costs for shipping and insurance, am I being offered a good deal?

Thanks.

tincup

The 90% does not seem too bad.....

....... but the 40% offer seems to be less than half of melt...... might do better to sell these on the BST board

ram1946

Thank you.

Dick

roadrunner

You could probably get up to 13X face but would probably have to mail it or wait until your next larger regional show where there would be more potential buyers. The difference between 12.5X and 13X would probably evaporate in shipping. At least you know with your B&M that the transaction will go smooth. My local B&M is probably only paying 12X right now (65% of spot). So you're doing good.

roadrunner

ocon4008

PM sent.

ttown

I can tell you my dealer would pay a couple dollars each for the 40% stuff right now. Some dealer don't like 40% since there's almost no demand and any coming in the make up a bag for wholesale. Lucky for us that have the bullion type coin shops in their areas. They'll sell for less and pay the most since they are volume dealers.

gecko109

<< <i>You could probably get up to 13X face but would probably have to mail it or wait until your next larger regional show where there would be more potential buyers. The difference between 12.5X and 13X would probably evaporate in shipping. At least you know with your B&M that the transaction will go smooth. My local B&M is probably only paying 12X right now (65% of spot). So you're doing good.

roadrunner >>





How did you arrive at the sum of "65% of spot"? By my math, 12x with a silver spot of $18.50 is actually 91% of spot.

jdimmick

The 90% number seems fair IMO going to a dealer. but the 40% number is quite low. I buy it lower myself , but am still a good bit more than what they are quoting on 40%

jim

dontippet

<< <i>

<< <i>You could probably get up to 13X face but would probably have to mail it or wait until your next larger regional show where there would be more potential buyers. The difference between 12.5X and 13X would probably evaporate in shipping. At least you know with your B&M that the transaction will go smooth. My local B&M is probably only paying 12X right now (65% of spot). So you're doing good.

roadrunner >>





How did you arrive at the sum of "65% of spot"? By my math, 12x with a silver spot of $18.50 is actually 91% of spot. >>



I believe the .65 figure comes from multiplying the face value times spot times .65. Actual worth of 90% equals face x spot x .715. That is different than silver content x spot.

nam812

<< <i>..........By my math, 12x with a silver spot of $18.50 is actually 91% of spot. >>



I also come up with 12X face equaling 90% (+/-) of spot.

Example:

180 Kennedy halves (1964)

$90 face X 12 = $1,080

180 Kennedy halves (1964) has a silver content weight of 65.1042 troy ounces X $18.50 (spot) = $1,204.43

$1,080 divided by $1,204.43 = 89.67%