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90% Silver pricing

pennyholicpennyholic Posts: 153 ✭✭✭
in Precious Metals
It appears a lot of people jumped on silver rounds,bars and other forms due to the best deal over 90% when it comes to not paying to much over spot. I would like to get some info on what would be a good price on buying some junk silver. Not lower is better but what you would be willing to pay if some could be found for you from a dealer friend.

Comments

  • CoulportCoulport Posts: 1,087 ✭✭✭
    There's some available in my area but premiums are up on 90% as well. The major dealer here wants $4.80 over spot for it.
    The most money I made are on coins I haven't sold.

    Got quoins?
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    If you can get it in quantity, $3-$4 over spot is not bad.... Myself, I do not look for 90%, although do consider it if it is a good deal at the time. Cheers, RickO
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    Before you go into a B&M look up spot and multiply it by. 715

    This will give you the value of 90%

    At that point, decide how much more you are willing to pay.

    For example:

    SPOT is $23.71, multiply that by. 715 = 16.75

    Now you know that a silver dime is 10 cents (face) x 16.75.

    In this case, the silver value of a silver dime is $1.68

    This is where you add your additional cost that you are willing to pay.

    Maybe $1.88 per dime.

    Once you get good at running the numbers, the dealer will pitch "23 x face" to wit you can counter with "how about 21x face?".

    Things that will help with your barter is quantity and type.

    Discounts come with larger quantity and type.

    For 90% you have dimes, quarters, halves and dollars. The dollars have a higher premium out the door but on occasion, you may find them in the pile. I believe the others demand certain premiums over the others but I am not sure which commands the higher.

    Ray
  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    At the moment, uncirculated silver eagles are selling at a premium to spot that is only slightly higher than for 90% coins.

    As long as this is the case, I think silver eagles are a better value.

    My Adolph A. Weinman signature :)

  • morgansforevermorgansforever Posts: 8,458 ✭✭✭✭✭
    <<multiply that by. 715>>

    Does the .715 multiplier account for the wear and is this number used by all dealers? The same for 90% dollars or is this number used only for dimes, quarters and halves? A local pawn shop is now selling 90% by weight (grams) good or bad for me the buyer? Don't know why he changed. Question, I have 68 cleaned, common date 90% dollars weighing 1812.6 grams. How do I convert that into actual .999 silver weight?

    EDIT: I try to stick to 90% dollars as there seems to be less wear than say dimes, that circulated more heavily, JMO.
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • jmski52jmski52 Posts: 22,814 ✭✭✭✭✭
    .715 accounts for wear. The actual silver content of 90% when new is .723
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,283 ✭✭✭✭✭
    There's not much coming out of the ground right now. What does the mint charge for their 90% junk ?
  • jdimmickjdimmick Posts: 9,672 ✭✭✭✭✭
    I have noticed a large spread buying price between the two national dealers currently, of the two larger dealers I ship mine too, they are about as far apart as I have ever seen currently:

    take for instance 6 months ago and prior they would usually be very close like say 17 vs 17.2

    Now one is 14.1 vs 15.4
  • bosco5041bosco5041 Posts: 1,303 ✭


    << <i>At the moment, uncirculated silver eagles are selling at a premium to spot that is only slightly higher than for 90% coins.

    As long as this is the case, I think silver eagles are a better value. >>

    I have been thinking the same thing.
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