How to value junk silver

I have an excel spreadsheet that calculateds BV for various coins. All I have to do is input silver spot.

@cladking - who/what is ACE?

@stevepk said:
I've noticed junk silver is sold through the major online dealers at melt or at only a small percentage over melt. I've also seen junk silver sell between collectors and at the shows for less than melt. I use the term 'Melt' in reference to intrinsic value, not the act of melting the coin. How should common silver coins be valued if sold directly to a collector or silver stacker?

Larger circulated silver coins should be priced at 5% less than the original weight due to wear. Smaller, heavily circulated coins (like Barber Dimes) are closer to a 10% loss due to wear. Correct me if I am mistaken.

Example:
Silver at $77.21 per ounce at the time of this post
Morgan silver dollars in Good-4 condition
$77.21 x .773 ounces = $59.68 intrinsic value per coin
x .95 (5% loss due to wear) = $56.70 intrinsic value per circulated Morgan dollar

Is $56.70 a fair valuation, or are these selling at a discount of intrinsic value with silver as high as it is? If so, how much is typically deducted when sold to a collector or silver stacker? I realize I can look at the asking prices on Apmex or Kitco, but I am looking for a reality check.

My apologies if 'junk' silver offends anyone. Constitutional works as well.

Upstate Buy/Sell @ $75.96

It's not that complicated. No math required. But it does change daily.

And, of course, if you are selling to someone who is wholesaling, they will pay sub-wholesale. And if you are selling to an enthusiast, they will pay retail plus.

For simplicity -

First - Melt Value. Beyond that it could be Melt plus say 10 pct (like for retail that’s what Ronnie does).