Buying 90%?

acloco

Regardless of whom the seller is (private, dealer, etc), how do you counter their public offer of times face value?

My point is, if they are asking a premium over spot, but selling G/VG 90% silver, ....is the seller just hoping to sell at that price to an unfamiliar buyer?

Price is based on silver content, no matter the form.

hchcoin

Just ask them if they would sell at your price. They can either say yes or no. If you are implying that they should sell it for less because the coins are worn, make that part of your offer as an explanation.

Better yet, shop around and you probably can find a better price if they are selling them for strong money.

BBN

Establish a good relationship with one dealer. He may be nice enough to let you hand pick your coins. I have a dealer that sets a very reasonable price x face. I've been buying off of the same gentleman for 12+ years and if I go in wanting to buy 2, 3, or even four rolls of quarters, he hands me his bag of quarters and tells me to pick what I want. He usually only breaks out the auto counting machine when you ask for like thousand or more dollars in silver. And he doesn't do this for everyone. Just the people he knows and doesn't mind loitering in the shop for 20-30 minutes.

derryb

I would not pay more premium for 90% US coins than I would pay for generic rounds or bars if I were buying the 90% for it silver content alone.

piecesofme

90% premiums fluctuate more than .999 does, sometimes considerably more. Like anything else, supply & demand play a very large role

derryb

Keep in mind that spot price is set in the paper market. Normally, all physical silver demands some premium over this price. Premium will vary among the different products.

CaptHenway

Originally posted by: piecesofme

90% premiums fluctuate more than .999 does, sometimes considerably more. Like anything else, supply & demand play a very large role

Indeed. If the demand and premium for one ounce rounds spikes upwards, producers can make more one ounce rounds. This is not the case with 90% silver, with the technical exception of the coins in the 90% silver proof sets. All buyers can do is offer higher and higher premiums to induce holders to sell from existing holdings.



That said, I notice that the buys on proof silver sometimes is at a discount to ordinary junk silver, even though it is slightly heavier. My theory is that this is because the Proofs with their sharp edges tend to get stuck in coin counting machines. Has anybody encountered this?

bronco2078

Originally posted by: CaptHenway

Originally posted by: piecesofme
90% premiums fluctuate more than .999 does, sometimes considerably more. Like anything else, supply & demand play a very large role

Indeed. If the demand and premium for one ounce rounds spikes upwards, producers can make more one ounce rounds. This is not the case with 90% silver, with the technical exception of the coins in the 90% silver proof sets. All buyers can do is offer higher and higher premiums to induce holders to sell from existing holdings.

That said, I notice that the buys on proof silver sometimes is at a discount to ordinary junk silver, even though it is slightly heavier. My theory is that this is because the Proofs with their sharp edges tend to get stuck in coin counting machines. Has anybody encountered this?

I think the newer proof 90% is discounted because its so ugly compared to the historic 90%. The I hate the look of all of it , the redesign of the Kennedy half made it less appealing and the same is true for the quarters. The dimes appear to be the same but I don't care for those anyway

Jinx86

The proof 90% does not transfer to rolls very easily and they can cause jams in most counting machines due mostly to the rims being slightly thicker. This is mostly for the quarters, however they are all tough to put in tubes and impossible to fill the tubes with correct face counts and have lids fit.

CaptHenway

Originally posted by: Jinx86

The proof 90% does not transfer to rolls very easily and they can cause jams in most counting machines due mostly to the rims being slightly thicker. This is mostly for the quarters, however they are all tough to put in tubes and impossible to fill the tubes with correct face counts and have lids fit.

Thanks. Had not thought about plastic tubes.



Of course with worn coins you have the opposite problem. I once bought in a bunch of well-worn Mercury dimes in plastic tubes. I think the highest count in one tube was 65! Bought em by weight and melted them because I did not want to stick anybody with them.