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 Replies: 55 / Views: 4,988 |
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Bedrock of the Community
 United States
25030 Posts |
Quote:
is it usual for dealers to pay over spot for coin silver? I've never heard of dealers paying over spot for junk silver. They either resell it as junk at spot or spot+, or send it to refiners. They can't make a buck paying over spot. Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
United States
617 Posts |
Sorry for the question but what does $5.50 mean in this context?
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Moderator
United States
187914 Posts |
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Sorry for the question but what does $5.50 mean in this context? Spot minus $5.50 |
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Pillar of the Community
 United States
6473 Posts |
Oh, I missed the minus sign. Now I understand.
Next dumb question. Is the spot at .999, or is the offer already discounted for the 90%? So really 0.9*spot-5.50, in which case that seems pretty rough.
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Moderator
United States
187914 Posts |
I am certain they are calculating actual silver weight, not full coin weight.
There are tables that calculate this. I have one in a spreadsheet.
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Bedrock of the Community
United States
25030 Posts |
Quote:
I am certain they are calculating actual silver weight My LCS weighs the coins, then calculates ASW. Inordinately fascinated by bits of metal with strange markings and figures
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Bedrock of the Community
United States
25030 Posts |
When I was at the LCS a couple weeks ago, people were bringing in buckets of junk silver. Actual 1 gallon buckets filled with junk silver. All destined for the melting pot.
I so wanted to pick through their piles!
Inordinately fascinated by bits of metal with strange markings and figures
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Moderator
United States
187914 Posts |
Quote:
My LCS weighs the coins, then calculates ASW.  Quote:
I so wanted to pick through their piles! Yes. Yes you did want to!  |
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Bedrock of the Community
United States
36678 Posts |
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My LCS weighs the coins, then calculates ASW. That's why I like to buy Franklins and 64 Kennedy's, you get more silver due to less wear. |
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Bedrock of the Community
United States
25030 Posts |
Inordinately fascinated by bits of metal with strange markings and figures
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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
187914 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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Replies: 55 / Views: 4,988 |
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Posted 11/10/2025 4:52 pm
