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 Replies: 842 / Views: 95,922 |
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Bedrock of the Community
United States
11882 Posts |
90% silver dollars melt at $60.73 or 60.73x face value.  IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Pillar of the Community
United States
1308 Posts |
"90% silver dollars melt at $60.73 or 60.73x face value"
I'm not sure how to copy and paste on this site, but this above doesn't make sense to me?
Silver as I type is at $78.57 or 60.77x face. All I can say is wow! Where does this crazy ride end?
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Bedrock of the Community
United States
11882 Posts |
Silver has hit $79/oz. 90% silver dollars contain 0.7734 oz of silver. The melt value of 90% silver dollars is now $61.16 or 61.16x face value. Every time I refresh it rises. Holy cow! IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Valued Member
United States
455 Posts |
One dollar Face Value of 90% silver (dimes, quarters, halves) has .715 of silver (when compensating for wear). To figure out the times (x) value, you multiply spot times .715. So for $79 spot, that would be 79 * .715 which gives you 59.48x. Pretty amazing how quickly it has gone up.
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Moderator
 United States
188322 Posts |
Quote:
Silver has hit $79/oz. Knocking on the $80 door.  |
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Bedrock of the Community
United States
36744 Posts |
Even after this latest smack down, 90% still melts at 52x face.
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Moderator
United States
188322 Posts |
Yes, that is still an impressive amount to consider.
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Pillar of the Community
United Kingdom
2133 Posts |
People in the UK that are disposing of silver seem to be selling to refiners rather than to coin dealers or auctions or jewelers.
Is that what people in the US and Canada are doing?
Edited by Pertinax
12/29/2025 3:36 pm
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Bedrock of the Community
United States
11882 Posts |
No, the refiners in the U.S. are only taking in 0.999 fine. Sterling and 90% silver (the composition of U.S. silver coins) are not currently being bought by refiners because they are low on refining acids. Therefore the coin dealers, pawn shops, etc are buying sterling and junk silver at steep discounts because the refiners are not providing liquidity for the not-fine product.
Refiners and wholesalers are paying $10 back of spot for 0.999 fine generic rounds. Some pay a little more if they have it presold in an existing order.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/29/2025 3:51 pm
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Bedrock of the Community
United States
11882 Posts |
An interesting thing coming up is that you cannot easily buy pullbacks because silver prices don't move even on an 8% move in spot. Intraday moves are not tradable in the physical market. You are basically making intermediaries rich with the huge spreads being charged. If everyone heads out the door at the same time some day, you will not be able to get out in the physical market. Market is really not efficient.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/29/2025 4:15 pm
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Pillar of the Community
United Kingdom
2133 Posts |
Quote:
Sterling and 90% silver (the composition of U.S. silver coins) are not currently being bought by refiners because they are low on refining acids. Odd, why don't they just buy more acid? |
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Pillar of the Community
United Kingdom
2133 Posts |
Quote:
Therefore the coin dealers, pawn shops, etc are buying sterling and junk silver at steep discounts ... What are the sizes of these discounts? Does gold lower than 22 carat also get discounted? |
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Bedrock of the Community
United States
11882 Posts |
Quote:
Odd, why don't they just buy more acid? Because global supply chains from China are under pressure in the U.S. Global Market: The production of these (metal refining) bulk reagents is a global industry, with countries like China dominating much of the world's production and refining capacity for critical metals and associated chemicals. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Bedrock of the Community
United States
11882 Posts |
Quote:
What are the sizes of these discounts? Up to 15% back of spot. Quote:
Does gold lower than 22 carat also get discounted? Not as much because you can more easily resell gold without refining it, say a 90% gold coin. For jewelry, the discounts are steeper because 8k, 10k, 14k, 18k gold just sits if it cannot be refined and causes issues with liquidity if you cannot move it. The spreads are tighter at 5-10% but in $ terms it's larger because the cost is higher per ounce. Its price is also less volatile than silver. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/29/2025 6:50 pm
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Pillar of the Community
United States
3323 Posts |
Quote:
Because global supply chains from China are under pressure in the U.S.
Global Market: The production of these (metal refining) bulk reagents is a global industry, with countries like China dominating much of the world's production and refining capacity for critical metals and associated chemicals. True. Making these bulk acids is a very nasty business - the type of industry that China is cashing in on. Their environmental and safety laws are lax, allowing them to produce at lower costs that can be achieved in the U.S. Until this is sorted out, we may see this continue unless the refiners are willing to pony up more money for the reagents from other sources. In our laboratory, we use reagent grade acids, produced domestically in smaller quantities, and pay a premium for them. I've seen no disruption in supply for those. "Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Replies: 842 / Views: 95,922 |
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Posted 12/26/2025 4:24 pm
