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With silver prices @ $33....

chaze215chaze215 Posts: 1,310
in U.S. Coin Forum
What are dealers/B&Ms offering for silver? Just curious.
Chaz

Proud recipient of Y.S. Award on 07/26/08.

Comments

  • crazyhounddogcrazyhounddog Posts: 14,071 ✭✭✭✭✭
    Don't fall into that trap! Just buy Buffalo Nickels...image I just wish I didn't sell most of my silver when it was $27.30 and that's what it fetched...image
    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • PerryHallPerryHall Posts: 46,860 ✭✭✭✭✭
    At $33 per oz, a $1 in silver has $23.60 worth of silver.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • chaze215chaze215 Posts: 1,310


    << <i>At $33 per oz, a $1 in silver has $23.60 worth of silver. >>



    But i doubt dealers are offering 23x face. How would they make $ buying at 23x face?
    Chaz

    Proud recipient of Y.S. Award on 07/26/08.
  • morgandollar1878morgandollar1878 Posts: 4,006 ✭✭✭✭✭
    I would guess 18-20x face.
    Instagram: nomad_numismatics
  • coinkatcoinkat Posts: 23,850 ✭✭✭✭✭
    at $33 a dollar of silver coin would seem to be worth a little more than 23.60...

    Experience the World through Numismatics...it's more than you can imagine.

  • PerryHallPerryHall Posts: 46,860 ✭✭✭✭✭


    << <i>at $33 a dollar of silver coin would seem to be worth a little more than 23.60... >>



    A dollar face value has 0.715 oz of silver. Multiply that times $33 per oz and you get $23.60.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • shorecollshorecoll Posts: 5,447 ✭✭✭✭✭
    The B&M I deal with paid 20.4 on Friday w/ silver at $31.
    ANA-LM, NBS, EAC
  • vannvann Posts: 318
    After deducting for 12% in fees from prices realized, eBay is bringing 22-23 x face for circulated 90% lots.
  • jdillanejdillane Posts: 2,365 ✭✭✭
    Am surprised that bullion sales less ebay fees are competitive with dealers. I was thinking the BST would be a preferred venue....
  • lcoopielcoopie Posts: 8,873 ✭✭✭✭✭
    silver is now where gold was when I was a youth
    LCoopie = Les
  • chaze215chaze215 Posts: 1,310
    Can a dealer realistically flip silver at these prices or are they just going to hang onto it for a while?
    Chaz

    Proud recipient of Y.S. Award on 07/26/08.
  • vannvann Posts: 318


    << <i>Am surprised that bullion sales less ebay fees are competitive with dealers. I was thinking the BST would be a preferred venue.... >>


    Probably because dealers charge more or the same for 90% especially for small lots like what you find on eBay. So it works for both parties and eBay.
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>With silver prices @ $33.... >>

    I'm regularly getting offers on my eBay stuff @ half of current melt value. Either there are a lot of people out there who don't pay any attention to metals prices or they just expect a bargain.
  • coinkatcoinkat Posts: 23,850 ✭✭✭✭✭
    I thought was more than .715- my mistake

    Experience the World through Numismatics...it's more than you can imagine.

  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Silver dollars are .77

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • scotty1419scotty1419 Posts: 933 ✭✭✭
    It seems like there are some pretty stingy dealers based on some of the buy offers people are seeing.

    Average buy price of 4 dealers in my area last Friday was 21.6x face - I sold for 21.4x face

    Saturday average buy price of 3 dealers was 22.3x face - I sold at 22x face.
  • jmski52jmski52 Posts: 23,268 ✭✭✭✭✭
    I sold some 90% coins at $22.31X last weekend at the coin show when silver was at $32.64, about 4% back of spot.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭
    Sold 18$ fv mercs at 23.6


    Very tempted to strip my unc washington quarter set for silver, sad that i can double my money selling bu washingtons for melt.

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