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I combo coin/jewelry shop in my area is paying 6x face for junk silver. That's .......

SanctionIISanctionII Posts: 13,271 ✭✭✭✭✭
in U.S. Coin Forum
.................. in the area of RIPSVILLE, IMHO. However, people show up daily and sell at that price.

Lucky for me the shop does not pay much attention to 1950 and later proof and mint sets so I have been able to cherry pick some nice coins from the shop.

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    BECOKABECOKA Posts: 16,967 ✭✭✭
    A good cherry pick is nothing without photos. image
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    fivecentsfivecents Posts: 11,207 ✭✭✭✭✭


    << <i>Lucky for me the shop does not pay much attention to 1950 and later proof and mint sets so I have been able to cherry pick some nice coins from the shop. >>

    Sounds like Ripsville is a two way street.image
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    gecko109gecko109 Posts: 8,231 ✭
    6x face is ridiculous. Its becoming quite clear to me from this thread, and the one on 1/10th AGE's, that with a few exceptions, coin dealers are about a half a click above used car salesmen on the scumbag ladder.
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    CoinlearnerCoinlearner Posts: 2,606 ✭✭✭✭✭
    Just need another dealer, put an ad out paying 10 face or more and see where the people end upimage
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    TommyBTommyB Posts: 676
    What would you pay for junk silver?
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    BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭


    << <i>What would you pay for junk silver? >>



    6.2X face, now image

    Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1

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    fcfc Posts: 12,805 ✭✭✭
    i would never even visit such a scumbag dealer.
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    GoldenEyeNumismaticsGoldenEyeNumismatics Posts: 13,187 ✭✭✭


    << <i>6x face is ridiculous. Its becoming quite clear to me from this thread, and the one on 1/10th AGE's, that with a few exceptions, coin dealers are about a half a click above used car salesmen on the scumbag ladder. >>



    You need to stop being so radical. So far, there has been no substance to any of your claims.
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    amilleramiller Posts: 893
    I haven't been in this week, but last Monday my local B&M was buying 90% silver at 10x face and selling at 17x. Seems like a rather large spread to me, but I guess he needs to cover his risk.
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    lkeneficlkenefic Posts: 9,556 ✭✭✭✭✭
    well... way back when silver was around $14/oz, my dealer was paying closer to 9.5x face
    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
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    ahooka454ahooka454 Posts: 3,466 ✭
    image
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    DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>What would you pay for junk silver? >>



    I've been paying between 10.8 and 11 X face over the last 10 days depending on the jumps in spot from day to day.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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    DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>

    << <i>6x face is ridiculous. Its becoming quite clear to me from this thread, and the one on 1/10th AGE's, that with a few exceptions, coin dealers are about a half a click above used car salesmen on the scumbag ladder. >>



    You need to stop being so radical. So far, there has been no substance to any of your claims. >>



    You wouldn't know substance if it kicked you in the butt.

    You just seem to thrive on unsubstantiated accusations of others.

    You sir, are several cuts below a used car salesman and looking up at the boot heels of ambulance chasing lawyers.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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    ILikeMercsILikeMercs Posts: 1,392 ✭


    << <i>

    << <i>

    << <i>6x face is ridiculous. Its becoming quite clear to me from this thread, and the one on 1/10th AGE's, that with a few exceptions, coin dealers are about a half a click above used car salesmen on the scumbag ladder. >>



    You need to stop being so radical. So far, there has been no substance to any of your claims. >>



    You wouldn't know substance if it kicked you in the butt.

    You just seem to thrive on unsubstantiated accusations of others.

    You sir, are several cuts below a used car salesman and looking up at the boot heels of ambulance chasing lawyers. >>




    ain't he the 16 year old? Nuff said. My teenagers knew everything too.
    imageDo not taunt Happy Fun Ball image
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    ahooka454ahooka454 Posts: 3,466 ✭
    <<
    You need to stop being so radical. So far, there has been no substance to any of your claims. >>

    Thats a quote from goldeneye, not gecko
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    DeadhorseDeadhorse Posts: 3,720 ✭


    << <i><<
    You need to stop being so radical. So far, there has been no substance to any of your claims. >>

    Thats a quote from goldeneye, not gecko >>



    Don't I know it!!! image
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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    ahooka454ahooka454 Posts: 3,466 ✭
    Oh okay. Sorry.


    No harm meant.
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    gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>6x face is ridiculous. Its becoming quite clear to me from this thread, and the one on 1/10th AGE's, that with a few exceptions, coin dealers are about a half a click above used car salesmen on the scumbag ladder. >>



    You need to stop being so radical. So far, there has been no substance to any of your claims. >>



    WTF are you talking about? I guess I am WAY out of line for thinking that the shop that pays 6x face at $17+ spot is a ripjoint. But then again, maybe you are that guy at the counter who can barely control his giggling as the shop guy proceeds to rip some old lady too huh?
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    morgansforevermorgansforever Posts: 8,513 ✭✭✭✭✭
    Hey, I have one of those bottom feeders as well.

    I was at my local B&M, and a woman walked in with common date 1909S $20 Saints, probably AU.

    This was a month ago, dealer offered her $2000 for all 4, she gladly accepted.

    Now is she a dumbass, or is he a piece of sludge from inside a sewer?

    Plenty of resources out there, via the web, books, etc...

    What would you do as a dealer?
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
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    ahooka454ahooka454 Posts: 3,466 ✭
    Fair market or just under spot. that guy is not anyone Id want to do buisness with.
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    7over87over8 Posts: 4,733 ✭✭✭
    get yourself a usps flat rate box, insure for full value

    Min purchase = $250 face 90% silver , ship to a big well known dealer in Newport Beach CA

    lock your price upon commitment and providing usps REG ship number

    ships check immediately upon receipt, no waiting

    from my experience pays 50 cents back of spot on bags of 90%

    so at current prices 17.02-.50 = 16.52 x 715 oz ($1000 face) = 11,812 / 1000 = $11.81 per $1 face

    best price around

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