Gotta just test the market and see what you get. I was told this morning that we can ask anything we want to on the BST thread. I am not considering to pay $1M for a 100 oz. silver bar though...even with a picture of it in the thread.
To forgive is to free a prisoner, and to discover that prisoner was you.
One of my faves buys at $1.00 back and sells at +$1.50 per ounce. Doesn't matter what size or who the OEM is. Generic, premium, 1 oz, 10 oz, 100 oz, it's all the same.
30X works out to $42/oz. That seems like a fair offer from a B&M for 90% junk.
What we need to do is define "junk" 90%. My definition would be that it is a cull, meaning, a slick that the date and any details can't be made out to the naked eye. It's very thin and doesn't weigh close to what it should.
As a seller, if I was offered 30x for "non-junk" 90%, I would laugh and say beat it. If I was offered 33x, I'd say, how much can you buy? jmho
But saying 30x for "junk" 90% is fair. Just thought the difference should be pointed out.
To forgive is to free a prisoner, and to discover that prisoner was you.
Yesterday, a local B&M was offering folks 33.65 for 90% .... ie, silver that they wouldn't pay a premium over spot for. Call it junk, call it whatever you want, and that was the offer. Not sure today as I didn't go.
They had quite the business happening yesterday before lunch.....4 counter jockeys and all were kept busy from one person to the next. Most folks were selling...boxes at a time.
I know a dealer in the area that is sitting on $15k face of 90%...of his own personal stash. That's not counting what comes in the door and right back out to the Refiner.
He admitted to having a little bit of a hard time sleeping the last few weeks.
Call it junk, call it whatever you want, and that was the offer. Now you tell me that a wise person such as yourself doesn't know there is a huge difference in junk 90% and non-junk 90%? C'mon Bochi.
To forgive is to free a prisoner, and to discover that prisoner was you.
The world calls ordinary, run of the mill 90% silver U.S. coins "junk silver." Some will be nicer than others, but holed, damaged or serious problem coins should be excluded. This term has been used for decades.
The world calls culls "culls."
At the Central States show on Friday, one major Chicago area junk silver buyer told me that he and others are backing off their buys on junk silver a bit because the refineries are backing up more and more. He will gladly sell bags at a little less than their melt price for immediate payment.
TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
<< <i>What we need to do is define "junk" 90%. My definition would be that it is a cull, meaning, a slick that the date and any details can't be made out to the naked eye. It's very thin and doesn't weigh close to what it should. >>
As noted above, that is not the definition most people use. Junk is "average circulated" and often VG/Better quality. In fact, if you buy a $1,000 bag of 90% junk you should find a lot of VF quality pieces. A lot.
Junk silver is any coin that the melt is higher than the probable retail value.. Proof silver state quarters are now Junk silver.... Most Modern commems , dollars and halves are now junk silver... Proof silver dimes, quarters, halves from 1959 to 64 are now junk silver... If ya cant retail it for what you can melt it for, melt it....
I suspect it wont be long before we are melting BU Franklin sets.. :-(
Support your local Coin Shop LM-ANA3242-CSNS308-MSNS226-ICTA
<< <i>30X works out to $42/oz. That seems like a fair offer from a B&M for 90% junk.
What we need to do is define "junk" 90%. My definition would be that it is a cull, meaning, a slick that the date and any details can't be made out to the naked eye. It's very thin and doesn't weigh close to what it should.
As a seller, if I was offered 30x for "non-junk" 90%, I would laugh and say beat it. If I was offered 33x, I'd say, how much can you buy? jmho
But saying 30x for "junk" 90% is fair. Just thought the difference should be pointed out. >>
Are you saying that you would walk into a B&M and, if you did not like the proprietor's offer, tell him to beat it?
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
renman95
Posts: 7,037 ✭✭✭✭✭
Comments
$1 back to spot bid and +$1-2 ask for .999 is fair.
Too many positive BST transactions with too many members to list.
<< <i>I was just at my BM yesterday and they were buying for 30x and selling for 36x. Nice little margin there I thought. >>
30X works out to $42/oz. That seems like a fair offer from a B&M for 90% junk.
36X is $50+/oz. I can't see too many people paying that much for 90%.
What we need to do is define "junk" 90%. My definition would be that it is a cull, meaning, a slick that the date and any details can't be made out to the naked eye. It's very thin and doesn't weigh close to what it should.
As a seller, if I was offered 30x for "non-junk" 90%, I would laugh and say beat it. If I was offered 33x, I'd say, how much can you buy? jmho
But saying 30x for "junk" 90% is fair. Just thought the difference should be pointed out.
Not sure today as I didn't go.
They had quite the business happening yesterday before lunch.....4 counter jockeys and all were kept busy from one person to the next. Most folks were selling...boxes at a time.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
He admitted to having a little bit of a hard time sleeping the last few weeks.
Call it junk, call it whatever you want, and that was the offer.
Now you tell me that a wise person such as yourself doesn't know there is a huge difference in junk 90% and non-junk 90%? C'mon Bochi.
The world calls culls "culls."
At the Central States show on Friday, one major Chicago area junk silver buyer told me that he and others are backing off their buys on junk silver a bit because the refineries are backing up more and more. He will gladly sell bags at a little less than their melt price for immediate payment.
TD
<< <i>What we need to do is define "junk" 90%. My definition would be that it is a cull, meaning, a slick that the date and any details can't be made out to the naked eye. It's very thin and doesn't weigh close to what it should. >>
As noted above, that is not the definition most people use. Junk is "average circulated" and often VG/Better quality. In fact, if you buy a $1,000 bag of 90% junk you should find a lot of VF quality pieces. A lot.
Proof silver state quarters are now Junk silver....
Most Modern commems , dollars and halves are now junk silver...
Proof silver dimes, quarters, halves from 1959 to 64 are now junk silver...
If ya cant retail it for what you can melt it for, melt it....
I suspect it wont be long before we are melting BU Franklin sets.. :-(
LM-ANA3242-CSNS308-MSNS226-ICTA
Been doing it since $35 Silver.
<< <i>30X works out to $42/oz. That seems like a fair offer from a B&M for 90% junk.
What we need to do is define "junk" 90%. My definition would be that it is a cull, meaning, a slick that the date and any details can't be made out to the naked eye. It's very thin and doesn't weigh close to what it should.
As a seller, if I was offered 30x for "non-junk" 90%, I would laugh and say beat it. If I was offered 33x, I'd say, how much can you buy? jmho
But saying 30x for "junk" 90% is fair. Just thought the difference should be pointed out. >>
Are you saying that you would walk into a B&M and, if you did not like the proprietor's offer, tell him to beat it?
Silver splunge!
<< <i>I suspect it wont be long before we are melting BU Franklin sets.. :-(
Been doing it since $35 Silver. >>
Do you take out the 1949-S first?
<< What's a reasonable bid/ask on 90% & 40% junk? >>
About 12% less than a reasonable bid/ask was two hours ago.
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