What is a current fair swap price for silver coin? Poll inside.

GRANDAM · June 29, 2008 8:19AM

If 2 members are making a trade on this forum trading slabbed PCGS coins for silver coin what is the current swap value for the silver coin?

11 X Face?

11.5 X Face?

12 X Face?

12.5 X Face?

12.75 X Face?

Thanks, GrandAm

BRdude · June 29, 2008 8:35AM

Whatever the guy that wants the trade more agrees to

It also depends on what type 90%, (unc?? circ?? mercs?, walkers??) and how much silver are we talking about?? Seems to be more room on say $500 than $100. (maybe the other way around, and also, what do YOU have in it?? I had some silver I was into for only about 5x face) I think to come up with a figure without knowing all the nuances of the trade is nearly impossible, and I'd call it whatever "spot" is.

roadrunner · June 29, 2008 8:40AM

Smaller wholesalers like to buy at 69% of spot. Larger ones pay up to 72% delivered. The closer you can get to 69% imo is a good #.
Your local shop is probably trying to buy around 65%. We just had a fly by night company come in around here and set up at a hotel. They were paying a measly 11X face.

roadrunner

ajia · June 29, 2008 8:58AM

Let's say Walkers, or BU '64 Kennedys.

And let's say one of these members used eBay or some similar auction site to gather full sold and BIN (even if these are not selling at BIN prices) values for one side of the trade. The other party agreed to the values.

Lastly, melt value is 12.73x face.

PS- what happened to MORE than melt?

Shortgapbob · June 29, 2008 9:34AM

<< <i>Smaller wholesalers like to buy at 69% of spot. Larger ones pay up to 72% delivered. The closer you can get to 69% imo is a good #.
Your local shop is probably trying to buy around 65%. We just had a fly by night company come in around here and set up at a hotel. They were paying a measly 11X face.

roadrunner >>

I would say 11x face is not measly, especially for one of the fly-by-night companies. It may not be the strongest number, but many of these scammers that set up in hotel rooms pay as little as 5-6 times face value. The top dealers are only paying 12-12.5x face at present.

Bochiman · June 29, 2008 10:09AM

Where's the option for "face value"

seateddime · June 29, 2008 10:10AM

At the FUN show Friday I saw a old lady sell a few dollars face to a dealer for 10X, he was a real sport.

cinman14 · June 29, 2008 10:10AM

I guess it would depend on what you are trading for. With the recent swings on the silver spot market,
I would not trade a coin with a more stable value for 90% silver at or very near melt. Next week your 90%
could be worth less than the week before. Where as the coin you traded may have gone up slightly or
at worse stayed the same..

And yes I voted for the 11 X's face. Based on this theory

ajia · June 29, 2008 10:42AM

cinman14, let me get this straight.
If there were coins you wanted in trade, you would be willing to 'pay' full auction sold prices with 11x face silver?

Oh yeah, let's also say the coins you were interested in were modern $1 commems.....

roadrunner · June 29, 2008 11:46AM

I would say 11x face is not measly, especially for one of the fly-by-night companies. It may not be the strongest number, but many of these scammers that set up in hotel rooms pay as little as 5-6 times face value. The top dealers are only paying 12-12.5x face at present.

It's not measly when all the local dealers pay more than 11X face.
Yet the public is drawn to the 2-3 page newspaper ads that these scammers purchase. Why they wouldn't attempt to bring their silver to a reputable local shop is beyond me.

Silver has been in a fairly tight trading range for months with a rock solid bottom resistance of $16.50/oz. It's extremely unlikely it will break that resistance. Already the silver chart is looking like a break out is coming very shortly (days or weeks, not a month). At $16.50....11.5X face is a wholesale level. Since silver is cash, paying 12X right now would be fair, and my selection if trading. I'd rather have the silver right now than a "stable-valued" coin. I'd probably pay 12.5X face or even 13X face right now to move out of some so-called "stable-valued" coins that aren't going up in price any time soon. I expect silver to be up 20% before the year is out.
This would be an excellent time to take silver in trade for stuff you don't want any more.

roadrunner

ajia · June 29, 2008 12:50PM

This would be an excellent time to take silver in trade for stuff you don't want any more.

Maybe the right time not to trade silver.

Any of the 45 members that voted 12x or less want to trade some silver??

GRANDAM · June 29, 2008 11:44PM

Let's get 100 votes!!!!!

Thanks, GrandAm

What is a current fair swap price for silver coin? Poll inside.

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