What % of spot is the average price for 90% silver

BigRed · January 24, 2007 10:26PM

and do walkers sell for more than franklins and mercuries for more than roosies.

beartracks42 · January 24, 2007 11:07PM

You multiply silver spot price times .715 to get the full value of 90% silver coinage. Most buyers will try to buy somewhere back of that, as they need to be able to turn it over for a profit. You can sell at shows to some dealers(such as Silvertowne) at roughly $.50 back of full spot price.

For the most part, walkers or mercs do not bring a better price unless your buyer has a need for them.

BigTom · January 24, 2007 11:08PM

From what I recall, it should be a little more than 4X face value at current spot.

ziggy29 · January 24, 2007 11:13PM

<< From what I recall, it should be a little more than 4X face value at current spot. >>

That's only about $5.60 per ounce of silver.

PerryHall · January 24, 2007 11:14PM

<< From what I recall, it should be a little more than 4X face value at current spot. >>

More like 9.6 X face.

BigRed · January 25, 2007 1:54AM

<< You multiply silver spot price times .715 to get the full value of 90% silver coinage. Most buyers will try to buy somewhere back of that, as they need to be able to turn it over for a profit. You can sell at shows to some dealers(such as Silvertowne) at roughly $.50 back of full spot price.

For the most part, walkers or mercs do not bring a better price unless your buyer has a need for them. >>

Thanks, that is kind of what I wanted to know. So if you can get about $.50 back of spot selling it how much over spot would the average buyer have to give for it?

claychaser · January 25, 2007 2:09AM

I usually figure the value by hitting spot X .7 - it works out pretty close. One good place to check is tulving.com.

Geoman · January 25, 2007 2:23AM

Last week my local dealer was paying 8.5x. So it may be a little higher now, since silver is up some this week.

I would say 9.0x is about average today.

coastaljerseyguy · January 25, 2007 3:04AM

Hi, newbie here, & my first response - hope I get it right. Appreciate all the great info discussed on the Boards.

How do you apply this equation to what type of silver coin you are selling. I collect Morgans which weigh 26.73 grams @ 90%, which is 24.057 grams. Based on a troy oz of 31.1035 grams, that equals .77345 % pure silver per troy oz.

At a market price of say $13, that's $10.05, which of course I'd expect some dealer cut off.

Do ten silver dimes = 1 silver dollar, ie 26.73 grams of 90 % silver ???

Was the US Mint exact in their % of silver for the smaller silver coinage to the almighty dollar ?

SFDukie · January 25, 2007 3:22AM

<< Hi, newbie here, & my first response - hope I get it right. Appreciate all the great info discussed on the Boards.

How do you apply this equation to what type of silver coin you are selling. I collect Morgans which weigh 26.73 grams @ 90%, which is 24.057 grams. Based on a troy oz of 31.1035 grams, that equals .77345 % pure silver per troy oz.

At a market price of say $13, that's $10.05, which of course I'd expect some dealer cut off.

Do ten silver dimes = 1 silver dollar, ie 26.73 grams of 90 % silver ???

Was the US Mint exact in their % of silver for the smaller silver coinage to the almighty dollar ? >>

Coin weights were fairly accurate in modern times. I don't know tolerances, however.
No, ten 90% silver dimes do not equal one silver dollar in terms of silver content. Dollars are .77 troy ozs, lesser coins .72 troy oz/dollar. A bag of $1000 face 90% silver coins weighs about .715/dollar, due to circulation losses. Bags of 90% kennedy's weigh slightly more on average (as they criculated to a much lesser extent), and some dealers will pay slightly more for $1000 face in halves, I believe.
Don

ARCO · January 25, 2007 3:27AM

Some sellers try to squeeze more premium over spot for walkers, but common date circulated walkers are extremely common. Ditto for the mercuries. Both can be had as junk silver and one should not pay more unless the coins are in higher circulated grades such as a roll of XF or AU coins.

As for finding spot prices on "junk" silver coins, there are internet web sites that will do the calculating for you based on the daily spot price of the metal. Just "google" spot price of circulated coins, or something along those lines. Someone linked a great site here in the past, but I only have it bookmarked on my home computer.

Common date circulated Walkers, Franklins and Kennedy's all should be bought at spot prices. The same for common date circulated mercuries, and roosevelts. If your lucky, you can get a really circulated roll of Barber dimes for close to spot.

Tyler

TwoSides2aCoin · January 25, 2007 3:57AM

Lookin' for a buyer ?

Got pics ?

basestealer · January 25, 2007 4:14AM

It's been my experience that halves and dollars fetch more than dimes and quarters when buying junk or cull silver coins. Run of the mill 90% circulated coinage goes between 8x and 10x FACE value. But the dollars and halves (especially walkers and morgans) will sometimes exceed this. Of course, dollars and halves weren't circulated as much to begin with so there may be slightly more silver on them than with dimes. Someone is cherrypicking these bags, because if you buy a 90% bag from a dealer I guarantee you'll get mostly dimes unless stated otherwise.

BigRed · January 25, 2007 8:53AM

<< Lookin' for a buyer ?

Got pics ? >>

No, I'm getting reading to maybe buy some. Thanks everyone for your anwsers but you missed my question a little bit. I know how to figure how much silver is in a coin and about how many times face its going for now. What I would like to know is what % of spot silver usually sells for at coin shows. Example, say that there is $4.65 worth of silver in a half, would you give 100% of the $4.65 or 95% or what.I just want a buying guide for what ever price silver is the day I might buy some.I heard a lot of people say they buy 90% silver for less than spot sometimes.

basestealer · January 25, 2007 9:00AM

Right now, the 40% Kennedys are selling for the biggest discount to spot. I've seen them go for as little as 80% of spot price, but usually around 90%. It's a discount to melt for sure. The 90% bags aren't discounted so much anymore. Even the most worn walker seems to command a price above the silver content these days.

KenK · January 25, 2007 9:08AM

Here's a link to a spreadsheet I downloaded from typesets.wikidot.com that calculates silver value of coins based on current spot prices. It's an inventory spreadsheet but there is a tab on the bottom labeled "Silver Value" that will do the calculation. All you have to do is plug in the current spot price.

Hope this helps,
Ken

topstuf · January 25, 2007 9:16AM

Spot x 715
move decimal 3 points to left.
done.

$9,066.20 bid............ $9,366.20 ask Thousand dollar face value bag. Increase spread for smaller amount.

Today's price. 13.28-32 Jan 25, 2007

Large wholesaler.

DaveG · January 25, 2007 9:53AM

BigRed,

Your question doesn't have a "pat" answer, because the price of "junk" silver fluctuates in response to demand as well as to the price of silver.

As an example, one day a dealer might buy junk silver at, let's pretend, 80% of spot (the bullion price), but on another day, six months later, a dealer might pay 85% of spot because there are a lot people who want to buy junk silver.

Most dealers who buy junk silver will also sell, so just look/call around for local buy/sell prices.

AUandAG · January 25, 2007 10:09AM

Why would someone who put this pocket change away expect 8x value? No, they don't and
are happy to take much less than spot so as not to fool with the trouble of selling the coins in
places they are not familiar with (like ebay). I generally pay 4x on rosies and 5x on mercs.
On walkers I a bit more than frankies. Kennedys get a premium higher that the other two if
the rolls are UNCs. So, generally I pay 4x on franks and 4.25 on walkers and 5x on Kennedys if
they are in UNC rolls or 4x on circulated Kennedys. Now, that's 1964 Kenn only. Most are very
happy to see that their pocket change from 40 years ago is worth so much.
good luck,
bob

BlindedByEgo · January 25, 2007 12:57PM

<< Why would someone who put this pocket change away expect 8x value? No, they don't and
are happy to take much less than spot so as not to fool with the trouble of selling the coins in
places they are not familiar with (like ebay). I generally pay 4x on rosies and 5x on mercs.
On walkers I a bit more than frankies. Kennedys get a premium higher that the other two if
the rolls are UNCs. So, generally I pay 4x on franks and 4.25 on walkers and 5x on Kennedys if
they are in UNC rolls or 4x on circulated Kennedys. Now, that's 1964 Kenn only. Most are very
happy to see that their pocket change from 40 years ago is worth so much.
good luck,
bob >>

Thank God there are online places like AJPM who will buy the stuff at market rates, so people don't get ripped at 4-5X face

basestealer · January 25, 2007 1:09PM

<< Why would someone who put this pocket change away expect 8x value? No, they don't and
are happy to take much less than spot so as not to fool with the trouble of selling the coins in
places they are not familiar with (like ebay). I generally pay 4x on rosies and 5x on mercs.
On walkers I a bit more than frankies. Kennedys get a premium higher that the other two if
the rolls are UNCs. So, generally I pay 4x on franks and 4.25 on walkers and 5x on Kennedys if
they are in UNC rolls or 4x on circulated Kennedys. Now, that's 1964 Kenn only. Most are very
happy to see that their pocket change from 40 years ago is worth so much.
good luck,
bob >>

I don't think anyone thinks that, but these coins are all 45+ years old now. Just about everything that old has value the original owner never anticipated. Obviously, the silver price has skyrocketed since then (rather, the value of the dollar has fallen)... but numismatically, all but the most worn out turds have some intrinsic value even above the melt. You might find people who are shocked to learn their old coins are "worth something", but it seems to me in this day and age that would be rare. Just like baseball cards. I don't see too many suckers these days. In fact, just the opposite--most people come to me thinking what they have is worth millions! You have to talk them down, lol. eBay has brought silver investing to the average person so I think that's had some effect on rising the prices of 40% and 90% coins beyond what they would otherwise fetch at the smelter. And even though I realize these things aren't high grade, I still like to buy a bag and sort through them, so to me they have some value that a regular silver bar wouldn't have.

PrivateCoinCollector · January 25, 2007 1:34PM

<< From what I recall, it should be a little more than 4X face value at current spot. >>

I'll buy all you have @ 5 X !!!!!

What % of spot is the average price for 90% silver

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