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Junk Silver Prices Thread - Report In Here

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Pillar of the Community
United States
1139 Posts
 Posted 05/08/2022  10:18 pm  Show Profile   Bookmark this reply Add CalzoneManiac to your friends list Get a Link to this Reply
Just so you know I will make a revised version of that chart with .715 instead of .723 at some point. Stay tuned.
Pillar of the Community
Russian Federation
772 Posts
 Posted 05/09/2022  04:20 am  Show Profile   Bookmark this reply Add Slerk to your friends list Get a Link to this Reply
What is the number x face ?
What is the spot silver price ?
Valued Member
United States
263 Posts
 Posted 05/10/2022  12:02 pm  Show Profile   Bookmark this reply Add HappyHippo to your friends list Get a Link to this Reply
SE Michigan: spot price: $21.60, LCS = $21.62 face. Way too high for me. That is about $30/ozt. Buying pure silver rounds still cheaper.
Valued Member
United States
341 Posts
 Posted 05/13/2022  5:53 pm  Show Profile   Bookmark this reply Add Dowhat to your friends list Get a Link to this Reply
From the Tampa/St. Petersburg area. That's in Florida, USA if you did not know.
Just contacted the best LCS in my area, IMO. St. Pete side.
Constitutional, 19xFV
Silver Sovereigns, Maples, Britannia, Philhormonics, etc. Across the board, spot + $7.
My math says $2 less, +/-, per toz. for Sovereigns than junk!
So, I ask , should it be called "junk" any longer?
They have no Sovereigns. Gone as soon as they get them. Most come from sellers, what they get, because wholesale delivery takes a long time, if it is fillable to begin with.
When they show up, they are gone.
But they do have a small amount of dimes and quarters Const. available. They usually have a lot. Not anymore.
This is one of a few LCS in my area that halves are not jacked up. Junk from dime to halve same price. That even applies if I chose a Walker, Franklin, Kennedy. It is in the "junk" bin and all costs the same.
What are your thoughts?
Pillar of the Community
United States
2144 Posts
 Posted 05/13/2022  9:07 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Premiums (+30%) are too high if you ask me. I am not buying.

https://sdbullion.com/blog/junk-silver-prices
Edited by NumisEd
05/13/2022 9:31 pm
Pillar of the Community
United States
1248 Posts
 Posted 05/14/2022  12:55 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
Constitutional, 19xFV
Silver Sovereigns, Maples, Britannia, Philhormonics, etc. Across the board, spot + $7.
My math says $2 less, +/-, per toz. for Sovereigns than junk!


How do you figure? 19 / .715 = 26.57 and with spot around $21 isn't that about a $5.6 premium per ozt? Seems like junk is still a lower premium than the +$7 premium for sovereign coins?


Quote:
This is one of a few LCS in my area that halves are not jacked up. Junk from dime to halve same price. That even applies if I chose a Walker, Franklin, Kennedy. It is in the "junk" bin and all costs the same.
What are your thoughts?


Buy the Kennedys and Roosevelts. Less wear = more silver. There are some LCSs out there that buy by weight instead of the industry standard of .715 ozt per $1 FV.
Edited by BadDog
05/14/2022 12:57 pm
Pillar of the Community
United States
1139 Posts
 Posted 05/14/2022  5:27 pm  Show Profile   Bookmark this reply Add CalzoneManiac to your friends list Get a Link to this Reply
You might want to add Franklin halves to the list too since they're also more recent silver and therefore are more likely to be found in good shape.
Pillar of the Community
Canada
1750 Posts
 Posted 05/15/2022  02:15 am  Show Profile   Bookmark this reply Add pocket change 50 to your friends list Get a Link to this Reply
I wonder how long premiums are going to stay high for both junk and silver bullion? Current prices silver spot would need to drastically increase, before a person breaks even. In Canada silver premiums at one bullion dealer is 22.5x FV for Canadian 80% silver Pre 1967 coins and it's still a very popular item. A $10 bag is $253.00 with spot closing at $27.20 May 13,2022. It's almost the same price as when we hit $31-$33 spot a few weeks back. Premiums on bullion start at just under $10 and can go to $20 depending on the coin! I never saw such insanity and the chart a few posts above is interesting. As I don't think it ever indicated a situation like the past year? How long do people feel it will take for premiums to come back to the old normal?
Pillar of the Community
United States
2144 Posts
 Posted 05/15/2022  2:05 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
It seems to me premiums are somewhat correlated with panic in the stockmarket (2008-2009, 2015-2016, 2020-2022, etc).
Valued Member
United States
341 Posts
 Posted 05/15/2022  4:59 pm  Show Profile   Bookmark this reply Add Dowhat to your friends list Get a Link to this Reply

Quote:
How do you figure? 19 / .715 = 26.57 and with spot around $21 isn't that about a $5.6 premium per ozt? Seems like junk is still a lower premium than the +$7 premium for sovereign coins?

You must be assuming that $1FV is 1toz. of silver. It is not. It takes $1.40 FV of 90 % to make 1 toz.
Edited by Dowhat
05/15/2022 5:13 pm
Pillar of the Community
United States
1248 Posts
 Posted 05/17/2022  1:20 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
You must be assuming that $1FV is 1toz. of silver. It is not. It takes $1.40 FV of 90 % to make 1 toz.

You are correct, it does take $1.4 FV of 90% Ag coins to equal 1 ozt of Ag. But, I don't believe you understand how to figure out how much Ag content you're getting for your money. I certainly did not assume there is 1 ozt of Ag in $1FV of 90% silver coins

To determine the price per ozt you're paying, you can either multiply the face value by 1.4 or divide it by .715. Either way gives you the same answer for what you're paying for the silver content.

When you paid $19 face you were paying $19 for .715 ozt of Ag or $26.57 per ozt. You get this number in one of two ways. Either $19 / .715 = $26.57 or $19 * 1.4 = $26.6.

It's 6 of one and half dozen of the other. It just depends on which method, division or multiplication, you prefer. BTW the reason you multiply by 1.4 is that 1 divided by .715 equals 1.3986 or 1.4
Edited by BadDog
05/17/2022 8:40 pm
Pillar of the Community
United States
2509 Posts
 Posted 06/09/2022  07:46 am  Show Profile   Bookmark this reply Add Arkie to your friends list Get a Link to this Reply
LCS is buying at 20x and selling at 25x
Pillar of the Community
United States
2144 Posts
 Posted 06/09/2022  08:22 am  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply

Quote:
LCS is ... selling at 25x


They are out of their minds.
Pillar of the Community
United States
2434 Posts
 Posted 06/22/2022  2:54 pm  Show Profile   Bookmark this reply Add John77 to your friends list Get a Link to this Reply
Something's got to give here. $21.44/oz. (current spot price) is way too low in this economy.
CRH Nickeloholic. 1,300,000 nickels searched in five years! Already have found THREE complete Jefferson sets!
Edited by John77
06/22/2022 2:56 pm
Valued Member
United States
93 Posts
 Posted 06/24/2022  3:01 pm  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
I was at an estate sale this morning and they had a lot of well circ US silver coins at 15x FV. Walking Libs and Franklin halves were a tiny bit higher. Is 15x FV a safe level to buy at if I go to a coin show and try and flip them for I hope 20x?
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