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silver $22.08 over night

CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭
in Precious Metals
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Comments

  • customrollcustomroll Posts: 523 ✭
    Can someone tell me why sterling silver (92.5% silver content) is worth less than 90% silver coins by weight?
    A local dealer quoted me his buy price today for sterling flat ware or anything solid sterling at 42¢ per gram. But silver dollars (morgan or peace) he pays $16.00 each.
  • 1970SilverArt1970SilverArt Posts: 482 ✭
    Looks like nothing can stop silver run.
    DISCLAIMER: I am NOT a '70's silver art bar expert but I try my best to play one on the Internet.
  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭


    << <i>Can someone tell me why sterling silver (92.5% silver content) is worth less than 90% silver coins by weight?
    A local dealer quoted me his buy price today for sterling flat ware or anything solid sterling at 42¢ per gram. But silver dollars (morgan or peace) he pays $16.00 each. >>



    Agree. Sterling deserves more respect. How hard is it to take a calculator and multiply 0.925 X Wt. X Spot?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I think it's because most sterling silver is just unwanted. It usually has a lot of irregular bulk (serving sets) plus they don't look like coins or bars. A friend of mine keeps on picking up brand new silver sets put away decades ago and they go right off to the smelter because there is just zero interest. How many people collect silver serving sets? And you can't even wear it or comfortably stick it in your briefcase.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • scrapman1077scrapman1077 Posts: 334 ✭✭
    I will take in trade 1.4 oz of sterling for a new 999 silver round from Golden State Mint ! ( minting costs have gone up )
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    I think it's because most sterling silver is just unwanted. It usually has a lot of irregular bulk (serving sets) plus they don't look like coins or bars. A friend of mine keeps on picking up brand new silver sets put away decades ago and they go right off to the smelter because there is just zero interest. How many people collect silver serving sets? And you can't even wear it or comfortably stick it in your briefcase.

    this hits the nail on the head with respect to Sterling... and applies to granules, too. there's a liquidity issue that must be discounted until the metal is in a more convenient form.

    Liberty: Parent of Science & Industry

  • RGJohnRGJohn Posts: 402


    << <i>I will take in trade 1.3 oz of sterling for a new 999 silver round from Golden State Mint ! >>


    I think that will work for me Jay. PM sent.
    John
    Many, many perfect transactions with other members. Ask please.
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