is there a formula to determine the buy/sell of 90% US coins?
1957joe
Posts: 608 ✭✭
based on the price of an oz of silver? just wondering!!!
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Maybe looking at APMEX for selling prices.
Prices vary widely on the selling side, and also on the buying based on condition.
There is not one answer for this subject.
Try this get 20 slick barber dimes and stack them against a stack of 20 new 1964 dimes.
You will see the difference.
I think that multiplying by 0.7 may be too high to sell since NEW unc silver coins contain 0.715 silver.
Try this get 20 slick barber dimes and stack them against a stack of 20 new 1964 dimes.
You will see the difference.
Hate to disagree with your info above, but the U.S. Mint standard for 90% silver coin was .720 oz. ASW per $1.00 face value, not .715. For BU 90% silver coins, using .700 X silver spot price would typically be very acceptable, not taking any other factors in to consideration.
Taking current market conditions in to account, the prevailing formula for determining selling price of BU 90% actually uses about a $2.00 per ounce premium over spot ask price. The formula for determining selling price of circulated 90% silver coin can be adjusted using either a lower conversion factor for actual silver weight or a lower basis price for pure silver. Silver dimes typically lose a higher percentage of net weight than quarter dollars or half dollars as they progress downward through diminished net detail.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
this is the formula we use, with the variable ranging between .75 - 2.00 depending on where the market is at. we will typically go back of the calculation by .50 to account for sudden market changes. currently we're around $13 X face but I'll have to work that up when I get to work this morning. to Pat's point of the Barbers vs. 1964 Roosies, I guess that would be logical IF you were buying by weight and not $ value. we buy across the board equally and then make up for things by wholesaling/selling. people will pay more for junk Barbers/Mercs then they will for the 1964 Roosies so it works out in the end.
also, IIRC a $10/face bag of junk Silver has a net of around 7ozt. 999.