Selling bullion question

DeepCoin

What multiplier should one expect for 90 percent silver when spot is 33? And if selling to a bullion dealer what is fair for SAEs? A friend of mine wants to sell about $50 in 90 percent and 20 SAEs. I just want to make sure he gets a fair deal and does not get ripped off.

piecesofme

The standard multiplier is .715, and that's just a base point. It can be less if the coins are thin, say .695.
$33 x .715 = $23.60 x face is a starting point for 90%. Most dealers will go at least 15% back of that as a starting negotiating point.

For ASE's, most dealers are considered gracious if they give you Spot + .50

This is all from my experiences locally. Selling it on a place like here should get you a little better offer, but then in most cases you're going to pay the shipping, which can be as much as $25 to start with.

DrBuster

Check http://coinflation.com/

piecesofme

coinflation tells you what it's worth, the actual value of the metal in the coins.
That's just the value. Use coininfo.com to give you a better representative of what you can sell it for, as a starting point.

For instance, coinflation says it's worth $23.92 x face.
coininfo says you can sell it for $23.20.

That's as of right now based on $33.05 Spot

pursuitofliberty

Based on what I know, the local dealer here would offer about 1080. on the silver ($50. face) and 670. on the ASE's

edit to add ... based on 33.05

tneig

Could you get a little more privately, say craigs?

bronco2078

I've done great buying and selling on craigs. At least it sells on craigs here in MA pretty quick . Some areas might be a little dead. Post your own ad don't reply to someone offering to buy.

I like to meet people at the food court at a nearby mall during the day . It works well security-wise you can park anywhere and the other person doesn't get to see what you are driving . Do your deal and either leave right away or go shopping get something to eat go see a movie whatever.

DeepCoin

Thanks everyone for your replies. I was in the ballpark. I just despise people who offer $22 for an SAE and 12x face for 90 percent. Another B&M that survives by ripping people off. I was pleasant and civil to the low ball offer and told him we were too far apart. I was hoping to sell my friends coins without needing to travel too far. I know everyone has to make a living, but I feel sorry for others who inherit and get taken.

piecesofme

Thanks everyone for your replies. I was in the ballpark. I just despise people who offer $22 for an SAE and 12x face for 90 percent. Another B&M that survives by ripping people off. I was pleasant and civil to the low ball offer and told him we were too far apart. I was hoping to sell my friends coins without needing to travel too far. I know everyone has to make a living, but I feel sorry for others who inherit and get taken

You did the right thing by asking if you don't know. Those who don't only have themself to blame when they find out later what they gave away.
Also, there's a reason most B&M's have been around forever and most are father & son/daughter operations. I'll use your words, "survives by ripping people off." Sad but true.

ricko

We have a jeweler here in this town that 'buys/sells' gold and silver.....and he ripped off family even.... what a crook... Cheers, RickO

jmski52

You might want to check in with Silvertowne.