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 Replies: 55 / Views: 4,987 |
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Bedrock of the Community
United States
36678 Posts |
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Bedrock of the Community
 United States
25030 Posts |
You definitely want to buy by actual weight instead of face value because of that.
Inordinately fascinated by bits of metal with strange markings and figures
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Moderator
United States
187862 Posts |
Quote:
You definitely want to buy by actual weight instead of face value because of that.  |
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Bedrock of the Community
United States
36678 Posts |
Dealers are using .715 oz per $1 face when figuring out 90% silver values..
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Pillar of the Community
United States
752 Posts |
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Being new to silver, is it usual for dealers to pay over spot for coin silver? My guess is no it isn't. Maybe close to, or really close to, depending on demand. Or maybe for individual products, again depending on demand. For instance this ASE crazyness going around. But its a business of slim margins and they aren't in it to lose money. My experiences with LCS's is you can get some really good prices if you land at the right time but as a habit they aren't going to pay more then melt for melt bullion. |
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Bedrock of the Community
United States
36678 Posts |
It all depends on the market at the time you buy or sell. Couple years ago 90% junk silver was being bought for $2-3 over spot and sold for up to $5 over. Now $3-4 under because of the back up at the refiners and their refusal to take any right now from coin dealers. Most small dealers can not afford to sit on massive amounts of silver of gold bullion inventory, they have to be able to wholesale it out to recover funds quickly. If the market drops too fast, it could put the smaller guys out of business if they are sitting on too much. Same with ASE's. A year or two ago they were selling for as much as $12 over and they would buy them at $8 over. A couple months ago, they were paying spot for them and selling at $3-4 over. There is no set rule, just supply and demand. |
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Pillar of the Community
Portugal
655 Posts |
Wondering what you consider junk. Common coins? Or damaged coins? Or all coins cheap enough to be sold by weight?
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Bedrock of the Community
United States
36678 Posts |
"junk" since the 1980's has always referred to by dealers as non numismatic 90% silver coins. It doesn't really mean junk damaged culls. The term being used more these days is Constitutional Silver Coins.
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Bedrock of the Community
United States
36678 Posts |
Refiners have started taking .90 and .925 again in small amounts according to my LCS guys. Prices should start to rise soon on those.
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Bedrock of the Community
United States
25030 Posts |
There's a big refiner in Houston that I need to check with. I have quite a load of sterling that I'd like to convert into bars.
Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
 United States
5177 Posts |
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I have quite a load of sterling that I'd like to convert into bars. Like silverware? Or British silver coins? |
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Bedrock of the Community
United States
25030 Posts |
Silverware, scrap, Franklin Mint art ingots, etc. I'm holding back on my low-grade world silver coins for now.
Inordinately fascinated by bits of metal with strange markings and figures
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Valued Member
 United States
107 Posts |
I am also dumping similar silver types. Although I am including low/no-numismatic world silver (Caribbean Franklin Mint ones) . A portion will be converted to 10-oz bars, but some will be cash as I have some numismatic expenses I will pay with using silver gains.
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Valued Member
United States
107 Posts |
Back to another pause at Elemetal!
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Moderator
United States
187862 Posts |
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Back to another pause at Elemetal!  |
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Replies: 55 / Views: 4,987 |
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Posted 11/12/2025 5:42 pm
