What's a good offer for a non-collector (Stacker) that has some silver coins?
mrpaseo
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I'm not talking a lot, less than 10 quarters at a time. What's a fair offer to give?
Thanks,
Ray
Thanks,
Ray
0
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"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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<< <i>Spot X .715 >>
Spot ASK not Spot Bid right? Which should I use?
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?
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<< <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.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
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<< <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.
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.
32d,32s,34d,35d,36d,37,37d,37s,38,38s,39s.
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......
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