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51 Posts |
 Posted - 08/08/2008 : 10:10:08
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how much is the right price to pay for junk silver? is 3% above melt good? or 11x face?
also if you buy a bunch of junk silver how do you know the guy isnt throwing into the bag 40% instead of 90%?
thanks!!!
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25 Posts |
Posted - 08/08/2008 : 10:47:40
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| silver spot x 715 is what i currently sell it for |
When the government fears the people, there is liberty. When the people fear the government, there is tyranny. |
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51 Posts |
Posted - 08/08/2008 : 11:56:51
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thanks for the reply!!
so what is that 11x face? whats 715 is that .715 the % of silver in the coins?
thanks! |
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AFModell
Penny Sorter Member
USA
82 Posts |
Posted - 08/08/2008 : 12:08:20
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| Youll have to take a look into the bag to make sure that there are no 40%ers. Shouldnt take you more than 30 mins on a $500 dollar bag of halves. Also, you can buy bags of mercs, franklins, or walkers, and pay the associated premiums (when you can find them). |
A penny saved is...TWO pennies earned! |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/08/2008 : 13:07:28
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| Haha, I just scored 50 franklin' halves for Spot, 15.29. $276.52, And this dude is trying to pass them all off. ;~; Too bad I don't have a few G's to buy them all. |
Trolling is an art. |
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8 Posts |
Posted - 08/08/2008 : 17:40:20
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| Who is this guy? I'll buy the rest of what he has... |
Always willing to trade US copper for "junk" silver! |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/08/2008 : 20:15:24
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| He was a local guy off Craigs list. I decided to hit 350 worth off him, got 63coins. Very nice guy, he just needed money for college. I just need to wait for more money, and hopefully he doesn't hawk them to a coin dealer and lose what they're worth. |
Trolling is an art. |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 08/08/2008 : 21:03:44
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| I sell Canadian "junk" silver for spot - Email if interested. |
www.londongoldbuyer.com |
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51 Posts |
Posted - 08/09/2008 : 08:30:03
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quote:
Originally posted by Neckro
Haha, I just scored 50 franklin' halves for Spot, 15.29. $276.52, And this dude is trying to pass them all off. ;~; Too bad I don't have a few G's to buy them all.
excuse my ignorance but why is this a good deal? are franklin halves worth more then something else? isnt the price you paid basically 11x face (the going rate) or what am i missing?
thanks |
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41 Posts |
Posted - 08/09/2008 : 20:56:57
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| Franklin halves are usually less circulated, so they've lost less of their original silver content. They're worth a bit more than other junk silver, but not a whole lot more. |
I'm not gone, I'm just lurking. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/09/2008 : 22:11:52
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| Basically what Iron said. And I like the look of the coins also. I have a little cult of them going on, membership = 400+ give or take a few being sacrificed. |
Trolling is an art. |
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51 Posts |
Posted - 08/10/2008 : 07:58:37
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| got it thanks! I understand what you mean. i love the peace dollars and have started to hoard those. i love em cant wait till i get a million of them :) |
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25 Posts |
Posted - 08/10/2008 : 09:39:15
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| Russel It will be very hard for you to find silver dollars for their silver content. Most places will place a premium on them. You are competing with collectors for dollars. |
When the government fears the people, there is liberty. When the people fear the government, there is tyranny. |
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51 Posts |
Posted - 08/10/2008 : 10:14:50
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Casper thanks for the info. I figured that out already :( but never the less i still love them!
I bought a bunch for $15 per the other day which is a good deal no?
also one last thing if i were to sell junk silver back to someone what would a coin dealer pay me for it? if i bought it 11x face and needed to unload it right away what would i get?
thanks! |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/10/2008 : 11:13:06
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quote:
Originally posted by russell
Casper thanks for the info. I figured that out already :( but never the less i still love them!
I bought a bunch for $15 per the other day which is a good deal no?
also one last thing if i were to sell junk silver back to someone what would a coin dealer pay me for it? if i bought it 11x face and needed to unload it right away what would i get?
thanks!
unless you can strike a deal, you'd get nothing back IMO. Ebay is the best place. |
Trolling is an art. |
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51 Posts |
Posted - 08/10/2008 : 11:58:16
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really? ebay is the only place to sell junk silver? whats the going rate to sell it on ebay?
why wouldnt a coin dealer buy it back?
thanks! |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/10/2008 : 12:11:59
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| The dealers will buy it back, but normally below melt. I say ebay because from what I've seen, people will pay nearly at spot, or a lil above spot for the junk silver. |
Trolling is an art. |
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25 Posts |
Posted - 08/10/2008 : 14:56:36
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| some dealers run a spread of 800 to 1100 a bag which depending on the price will be about 5-8% if you want to sell on ebay and pay them 10% for the privilege you come out on the wrong side. Neckro it has to be bought below melt do you think its free to send it to the refiners or that the refiners pay melt for it? Every has to make a profit that is why they are in business. |
When the government fears the people, there is liberty. When the people fear the government, there is tyranny. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/10/2008 : 15:32:05
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| Haha, my bad I wasn't think of it that way, I was thinking as the buyer and not the way I should've been. =/ Don't beat me! |
Trolling is an art. |
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51 Posts |
Posted - 08/19/2008 : 15:13:36
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quote:
Originally posted by casperscoins
silver spot x 715 is what i currently sell it for
Sorry to be so dumb but as silver goes up/down how can i on the fly figure out what the right price to pay for junk silver?
thanks!
90% is silver in pre 1964. what the calculation i can use to figure out what to pay? is it times face? is that the right way to figure it out?
.715 x spot ?????
thanks! |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/19/2008 : 23:37:04
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1. Calculate 90% silver value : Dimes
(13.12 × .0321507466 × 2.5 × .90) = $.9490900396
1. Calculate 90% silver value : quarter
(13.12 × .0321507466 × 6.25 × .90) = $2.3727250990
1. Calculate 90% silver value : Halves.
(13.12 × .0321507466 × 12.5 × .90) = $4.7454501981
1. Calculate 40% silver value : 40% half
(13.12 × .0321507466 × 11.5 × .40) = $1.9403618588
1. Calculate 90% silver value : Morgan - Peace
(13.12 × .0321507466 × 26.73 × .90) = $10.1476694177
1. Calculate 40% silver value : Silver Ike 40%
(13.12 × .0321507466 × 24.59 × .40) = $4.1489991924
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Trolling is an art. |
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51 Posts |
Posted - 08/21/2008 : 18:16:40
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0321507466 × 2.5 what are those #s
thanks!! |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/21/2008 : 18:57:52
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quote:
Originally posted by russell
0321507466 × 2.5 what are those #s
thanks!!
I don't know man, but the only thing that changes is the spot value which is the 13.12. I got the table from Coinflation |
Trolling is an art. |
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51 Posts |
Posted - 08/21/2008 : 20:34:15
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i guess the bottom-line is
you walk into a coin store silver is selling for 13.12 per ounce you want to buy junk silver 1/4s 1/2s etc....
how much do you pay for it?
13.12 - 10%? is that correct?
thanks |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/21/2008 : 20:38:55
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| I can't explain it. I have a PDA phone, so I can do a spot check anytime I buy. =/ Should check out You must be logged in to see this link. And check their current value for the coin. And the dealer should sell for around that price, if not, shop around, get good relations with the dealers, and after they notice you're a repeat costumer they should be more willing to haggle. IDK, if the price isn't around my park, I don't buy. I'll just smoke his cigarettes and watch T.v >D |
Trolling is an art. |
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WheatieFan
Penny Pincher Member
USA
106 Posts |
Posted - 08/21/2008 : 22:29:46
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quote:
Originally posted by russell
i guess the bottom-line is
you walk into a coin store silver is selling for 13.12 per ounce you want to buy junk silver 1/4s 1/2s etc....
how much do you pay for it?
13.12 - 10%? is that correct?
thanks
That is not correct. That would be correct if you were buying exactly one ounce of 90% silver coins.
One dollar of coins do not weigh one ounce.
One dollar contains roughly 0.715 ounces troy silver. This is the only number you need to remember. Think of it as your conversion factor. It is the same for all 90% silver coins, regardless of denomination.
Face Value (in dollars) x 0.715 (ounces silver per dollar) x Spot silver price (dollars per ounce) = silver value
example 4 halves, 4 quarters, and 4 dimes:
$3.40 (face value) x 0.715 (conversion factor) x 13.12 (spot price) = ??? the value of silver in the coins.
0.715 is a widely repeated number. In theory, really worn coins will weigh less, and lightly circulated coins will weigh more. For them, the factors will be slightly lower or higher. But 0.715 is a good starting point.
That help?
WheatieFan
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how much times face for silver?
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