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Selling junk silver - I have a question

1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭
in Precious Metals

I'm sure it depends on the establishment but do most people buy based on face value or do they weigh the coins ?
Thanks for your response :smile:

Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

Bad transactions with : nobody to date

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    cohodkcohodk Posts: 18,622 ✭✭✭✭✭

    Face value.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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    tommy44tommy44 Posts: 2,195 ✭✭✭✭✭

    All dealers I've dealt with buy at X times face. I think refiners like KITCO pay by weight.

    it's crackers to slip a rozzer the dropsy in snide

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    Jinx86Jinx86 Posts: 3,672 ✭✭✭✭✭

    Face value here, unless it's heavily worn or damaged then we get the scale out.

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    PerryHallPerryHall Posts: 45,444 ✭✭✭✭✭

    @Jinx86 said:
    Face value here, unless it's heavily worn or damaged then we get the scale out.

    Agree. Well worn silver coins are bought by weight by most coin dealers.

    Worry is the interest you pay on a debt you may not owe.

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    1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    Thanks for the input :smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

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    VanHalenVanHalen Posts: 3,815 ✭✭✭✭✭

    @1630Boston said:
    I'm sure it depends on the establishment but do most people buy based on face value or do they weigh the coins ?
    Thanks for your response :smile:

    Using the 0.715 multiplier to calculate x Face Value incorporates about 2.5% metal loss from wear. It works great on average circulated 90%.

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    1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    Thanks @VanHalen

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

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    TwoSides2aCoinTwoSides2aCoin Posts: 43,858 ✭✭✭✭✭

    Most people aren't here. They're usually on my phone asking odd questions. I tell them to "show me the coin".

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