Junk Silver Prices Thread - Report In Here

13 times face for dimes and quarters two weekends ago and 14 times for F to XF walkers and franklins this past weekend

With spot at $15.41, the shop I work in just bought a bag of $1000 face for $12,110. We are selling to the public at 12.94 x face value, but we will likely sell it to another dealer for less than $12,940 by the end of the day. We usually don't keep more than a handful of it around for more than a day.

@15.25 silver today I bought a few Kennedy and Franklin halves, and a handful of 1964 Washingtons for 13 x face.

silver at $15.50; LCS sold out of over $100 face in 3 days selling at $14.25:$1.

Both of my local coin stores are literally overflowing with junk silver right now.

The one I usually stop at has a huge number of Franklin half dollars and Washington quarters at the moment, with a much lesser number of a few other types of 90% silver. The price was 14x face, up from the 12x face they were charging 2 or 3 weeks ago.

The second store in town just got in $4,000 FACE in 90% silver, all brought in by one individual. I'm not sure how much they were charging for it, as when I stopped by to ask about junk silver, the person who had the ability to pull it out of the safe was not there. As I left, I couldn't help but wonder how they came up with the $40,000 or so to purchase that much junk silver, as this is quite a small, low-volume store.

Silver was $15.50/ ounce when I made these trips.

The larger of the two coin stores in my town unexpectedly changed hands at some point since my late visit. This came as a bit of a shock to me, as there was no indication of a pending changeover.

With it, premiums have increased yet again: regular junk silver is now 15x face, or roughly $5 an ounce over spot (currently $15.36).

Although I did not respond in any way to what I personally thought was a rather high "price quote," I was gradually given a litany of reasons justifying it:

- It was due to a "lack of supply"
- It was because I "was not buying in bulk"
- It was resultant from my desire to "pick through the coins" (what is a junk silver bin for, if not that?)
- Prices have to keep pace with the "rapid rise in the price of silver" (despite the fact that silver has been at and around $15/ ounce all year)

I could have readily come up with counter-arguments to all those points, but decided to be courteous and purchase $1 face in Mercury dimes. Needless to say, I probably won't be back for a while!

No problem. And thanks for the condolences; I appreciate it. It was certainly fun while it lasted, and at least I was able to reach my personal goals before the stores started going crazy with their pricing. If I start up again at some point, I'll either have to find a different retail outlet for junk silver, or move to something cheaper, like generic bullion.