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How much over melt to pay for 90% silver?

wheatguywheatguy Posts: 359 ✭
in Precious Metals
I found a formula online to calculate how much times face to pay for 90% silver, but since 90% usually sells at a slight premium, how much should I expect to pay over melt? If the melt value indicates that I should pay 15.3x face, would buying at 16x face be a good price? 17x?

Thanks, and sorry if this is a commonly asked question.
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Comments

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    At a shop 16x is fine now
  • wheatguywheatguy Posts: 359 ✭


    << <i>At a shop 16x is fine now >>



    Just to clarify, this is a average buying from the dealer price right?
    Successful BST transactions with: Walkerguy21D, Metalsman, chumley, cohodk
  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    about 4% over spot is what I work with. If coinflation tells me a 90% kennedy half has $7.70 worth of silver then I plan on spending about $8.00 on one. Problem with the 16x face is that it is only good at current spot prices. If silver climbs up then a new multiple is needed. Coinflation gives me live silver value that is based spot price at the time I check the website and my "plus 4%" remains constant.

    "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

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    From what I have seen at shops locally 16x represents a floor. At the baystate show the other day most tables wanted more and only one dealer I found was at that price.

    It will go higher but unless people refuse to pay 16x I don't see it going lower.

    Some want more for half dollars now also. Whether you believe that half dollar premium has merit or not , at shops that don't you might as well buy halfs if they offer them.


  • wheatguywheatguy Posts: 359 ✭
    Thanks! Just picked up $20 face from eBay for $345 with $27.60 in eBay bucks.
    Successful BST transactions with: Walkerguy21D, Metalsman, chumley, cohodk
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>Thanks! Just picked up $20 face from eBay for $345 with $27.60 in eBay bucks. >>



    That sounds like a good price for eBay.
  • pennyanniepennyannie Posts: 3,929 ✭✭✭
    I paid 1625 today for a 100 dollar face of quarters, I thought about taking the half dollars for the same price and passed. I will probably get another 100 dollar bag on Saturday and I will go for the half dollars this time.
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
  • SaorAlbaSaorAlba Posts: 7,541 ✭✭✭✭✭


    << <i>I paid 1625 today for a 100 dollar face of quarters, I thought about taking the half dollars for the same price and passed. I will probably get another 100 dollar bag on Saturday and I will go for the half dollars this time. >>



    Half dollars are better at 16.25 x than the quarters are. Usually halves trade at a small premium vs. quarters and dimes.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    The thing I like about selling, and buying for that matter, about 90% is it's usually negotiable, unlike generic .999, which is a slave to whatever Spot is doing.

    Also, at current level $16.25 for Halves is a steal of a deal, especially if you were able to get $100 face of them. Around here, Halves are easily going for $1.00 more than what Quarters are. Dimes...usually don't buy them but if I'm forced to to take a whole mixed Lot deal, I buy them at melt or I don't do the deal.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    What's the grade ? image
    I paid 148 times face for one silver dollar. Another silver dollar I paid 1500 times face.
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    << <i>What's the grade ? image
    I paid 148 times face for one silver dollar. Another silver dollar I paid 1500 times face. >>




    How much would you pay me for this pic-a-nic basket yogi?

    image
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    How many boo boos are in that basket ? image
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