How does your local b&m shop buy and sell junk 90%?

jmcu12

I have seen different methods such as charging more for based on the denomination from dimes to quarters to halves; not just by melt I mean but just charging more because it is a higher denom,

Other places figure melt and quote a certain number times face.

Of course dollars are always different given their metal content.

So given that, what methods have you seen?

2ltdjorn

Larger denominations x face

Smaller denominations x weight

guitarwes

For any 90%, he usually buys about -10 points back of the going melt multiplier (i.e. If melt is 25X face, he buys at 15X face). In the store, he sells for about melt or just back of melt if buying quantity. He usually sells it on eBay though.

For 90% dollars, about 75-85% of melt for common circs. Sells most of them on eBay. In the store, he'll sell at about 10-20% over melt if it's not greysheet worthy.

lcoopie

seems like the BST is the way to go for that

COALPORTER

Our shop post bid/ask prices on the wall every day. doesnt matter
what from the metal is in.

johnny9434

denomination x weight = price

michiganboy

My local shop goes times face value no matter if its really junk 90%.

jdimmick

dimes, quarters . halves same price.

Our sell price is the same to the public as I can ship it for to the National buyers. Most buy at -500 per bag. (if I can sell it locally, then why not sell it for the same price and not have to ship)

Buy price is usually 2 - 2 1/2 points back than what i can sell it for. example if I can sell for say 23x, Ill buy at 20-21x.

I used to pay really tight like 1/2 point to a point back, but that was before the market plunged 3x over the past 2 years. The buyers have been cautious and getting far and few between on 90% as of late, so it doesnt sell as frequently. Most people that are buying now locally, prefer 10 oz bars and eagles.

I keep the gold and silver shipped out on a continual basis .

Cougar1978

They sell at BV + 10% and buy at 80% of BV. This allows them a markup over cost close to 40% which is essentially the standard for the industry on numismatic coins vs Bid. All walk in purchases are evaluated for nicer material which can be flipped or sold for more than just BV+10%. I have been offered numerous flips from them on material that walked in usually priced around CDN Bid to me. The owners are frineds of mine I have known for years from the coin show circuit.

Greeniejr

It all depends on quantity. If someone brings in a handful of loose 90% we buy it for around 3X face under melt ((spot*.715)-3). As the quantity goes up we get closer to spot. Currently the wholesale buy is like (Spot-.6)*.715. Today we bought a bag and a half for like (Spot-1.4)*.715 because it was a quick and easy flip. It is a lot of money to tie up to make 4% but whatever.

Greeniejr

<< <i>They sell at BV + 10% and buy at 80% of BV. This allows them a markup over cost close to 40% which is essentially the standard for the industry on numismatic coins vs Bid. All walk in purchases are evaluated for nicer material which can be flipped or sold for more than just BV+10%. I have been offered numerous flips from them on material that walked in usually priced around CDN Bid to me. The owners are frineds of mine I have known for years from the coin show circuit. >>



Not sure where you get dealers working on 40% but sign me up for that.

Overdate

Is any junk 90% going to smelters these days?

fiveNdime

<< <i>figure melt and quote a certain number times face.

dollars are always different given their metal content. >>


exactly this^^^