What's a good offer for a non-collector (Stacker) that has some silver coins?

mrpaseo

I'm not talking a lot, less than 10 quarters at a time. What's a fair offer to give?

Thanks,
Ray

Barndog

fifteen to sixteen times face seems to be the going rate. Trades for something the person values would work well too.

derryb

If no numismatic value silver content is fair.

guitarwes

Spot X .715

mrpaseo

<< <i>Spot X .715 >>




Spot ASK not Spot Bid right? Which should I use?

mrpaseo

Okay, this always confuses me...

SPOT X .715.... how does that work?

SPOT ASK is: $19.78

So 19.78 X .715 = $13.71

How do I apply this to say 10 quarters?

cohodk

$3.50 per coin.

PerryHall

<< <i>Okay, this always confuses me...

SPOT X .715.... how does that work?

SPOT ASK is: $19.78

So 19.78 X .715 = $13.71

How do I apply this to say 10 quarters? >>


A dollar face value of circulated 900 fine silver dimes, quarters, and halves has about 0.715 Troy ounces of pure silver. Take the total face value of any group of silver coins and multiply by 0.715 to get the total weight of silver. Multiply this by the spot price of silver to get the melt value of the group of silver coins.

RGJohn

<< <i>Okay, this always confuses me...

SPOT X .715.... how does that work?

SPOT ASK is: $19.78

So 19.78 X .715 = $13.71

How do I apply this to say 10 quarters? >>



I think Wes meant 0.715 times SPOT times Face Value (FV) of the coins.
Pick your own spot as it changes faster than some women's shoes.
0.715 is the usual multiplier used as it reflects the amount of actual silver ( making allowance for the fact that pre-1965 US coins [dimes,quarters, and halves] are 90% silver) as well as a modest 'fudge factor' for wear.

mrpaseo

Thank you all

tneig

I use a phone app. Set the silver price (+ -) and select the number of each type of coin.

bonkrood

This site might help.

s4ny

Silver value of a Quarter is $3.55, Average circulated coins should be worth that.

TwoBitWilly

The chart in the back of the red book they have bullion values for each denomination (gold & silver) and they have a quick reference
in whole dollar amounts.

But you can refine it by
Silver//// Gold
silver dollars---spot x .773 $5------spot x .241
half dollars-----spot x .361 $10-----spot x .483
40% halfs------spot x .148 $20-----spot x .967
quarters--------spot x .180
dimes-----------spot x .072
nickles----------spot x .056

$1 & $2.50 Gold or any coin for that matter can be found in their own specific page.

guitarwes

I pm'd you this message but wanted to post here also-


When I say a buy price is "Spot X .715", I use the silver spot price posted on the kitco ticker. You asked about bid/ask price and I think there is a 10¢ spread in the bid/ask, so I don't really worry about that too much as it doesn't make much difference. You can use either one consistantly if you want when you buy or sell, doesn't matter as it's only .0715 X face value different in the long run ($7.15 per $100 face value of 90%)

If you're really confused now don't worry, a simple explaination is below. Here is the simple way to figure out what to pay if you want to buy at melt value for 90%. It's as easy as 1 -2 -3:

(1) Count the amount of face value of 90% silver you have. (i.e. $20 total face value)
(2) Multiply silver spot price X .715. (i.e. silver spot at $25 X .715 = 17.87)
(3) Multiply those 2 values together to get your buy price (i.e. $20 face value X 17.87 = $357.40)

For circulated 90% silver the "Spot X .715" multipler accounts for wear and underweight pieces. For uncirculated 90%, the actual melt value is around a "Spot X .723" multipler.

Hope I didn't mess your brain up too bad......

hchcoin

Good information in this thread!

mrpaseo

Very good information, thank you all for your time and input. Wes, thanks for the PM.

mrpaseo

Well, I went through my sisters coinage and found no additional silver... There was a LOT of coins...lol. On the plus side, she gave me the quarters that she found clean and clear Adding to the stack. She said that she would save any others that she finds. I'm going to keep track of what she sends to me, then when I get a roll, I'll send her either something nice or a few hundred dollars

BAJJERFAN

Fair is a bit relative in that you are probably more likely to make your sister an offer which is more fair than most dealers might make.

mkman123

thats nice of your sister to give them to you!