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Junk Silver Prices Thread - Report In Here

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Pillar of the Community
United States
1247 Posts
 Posted 04/10/2016  10:49 am  Show Profile   Bookmark this reply Add stampvirgin to your friends list Get a Link to this Reply
my lcs is nice to me, he will sell me junk 90% at spot, but also at weight..
weighs the coins, all 90%, then figures out the silver content from the weight, then we figure out the spot price.

It is a very, very cool deal for me and him.
Valued Member
United States
163 Posts
 Posted 04/12/2016  6:53 pm  Show Profile   Bookmark this reply Add Earendil to your friends list Get a Link to this Reply
I found a silver tableware store today that also had about $15-$20 face in mixed 90% silver. Most of it was either worn, polished/cleaned, etc., but I did find a few halfway decent coins. All of the common post-Barber types were thrown in together, which was a nice change of pace. The only thing I did not see were Standing Liberty quarters.

The price was 13x face, or $1.80 over the current spot price of $16.20.
Edited by Earendil
04/12/2016 6:59 pm
Valued Member
United States
163 Posts
 Posted 04/12/2016  7:08 pm  Show Profile   Bookmark this reply Add Earendil to your friends list Get a Link to this Reply

Quote:
my lcs is nice to me, he will sell me junk 90% at spot, but also at weight..
weighs the coins, all 90%, then figures out the silver content from the weight, then we figure out the spot price.

It is a very, very cool deal for me and him.


That's definitely quite kind of him to pass along such great pricing to you. It's also a mark of true honesty for him to account for the wear suffered by most 90% coins.

If you don't mind me asking, what are his buy prices like on 90% silver brought in by the public? I've personally never encountered any dealers who were willing to sell any kind of silver at spot price.
Pillar of the Community
United States
1247 Posts
 Posted 04/13/2016  09:30 am  Show Profile   Bookmark this reply Add stampvirgin to your friends list Get a Link to this Reply
i don't know what his buy prices are, but I am sure they are below spot, like any other buyer.
Valued Member
United States
163 Posts
 Posted 04/19/2016  10:00 pm  Show Profile   Bookmark this reply Add Earendil to your friends list Get a Link to this Reply
I went back to the store I visited last week, and picked up 3 more Mercury dimes for 14x face. Silver was bouncing around all day, but it was probably about $17.00 at the time (making the dimes $2.20/ ounce over spot).

Due to a lack of funds, I did not check the two dedicated coin stores in town. I also assumed they would have immediately shot up their sell prices in response to the rise in the price of silver.
Edited by Earendil
04/19/2016 10:02 pm
Valued Member
United States
163 Posts
 Posted 04/27/2016  4:20 pm  Show Profile   Bookmark this reply Add Earendil to your friends list Get a Link to this Reply
I haven't stopped by either of my local coins stores lately, but I did visit a flea market this morning (at which there were multiple coin dealers in attendance). For basic, run-of-the-mill junk silver, the lowest price that was quoted to me was 16x face.

Silver was approximately $17.20 an ounce this morning, which would make coins priced at 16x face $4.92/ ounce over spot.
Pillar of the Community
United States
1998 Posts
 Posted 04/28/2016  11:59 am  Show Profile   Bookmark this reply Add Arkie to your friends list Get a Link to this Reply
Last week it was $13.75 x face
Valued Member
United States
132 Posts
 Posted 04/29/2016  08:17 am  Show Profile   Bookmark this reply Add mendelman to your friends list Get a Link to this Reply
Paid $15.50xface yesterday, but got to pick my own:

1901 & 1914 Barber dimes (nice VG)
1936-D Mercury dime (AU)
1900, 1901 & 1908-D Barber halves (nice G)
1936-D & 1939-D Walking Liberty halves (F and G)
Edited by mendelman
04/29/2016 08:18 am
Pillar of the Community
United States
1891 Posts
 Posted 04/29/2016  11:37 am  Show Profile   Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
Will stop by today after work again, was awesome since last week purchased 3 Peace dollars, and another $8 worth of junk silver at spot price. :D
Valued Member
United States
163 Posts
 Posted 05/02/2016  08:52 am  Show Profile   Bookmark this reply Add Earendil to your friends list Get a Link to this Reply

Quote:
Will stop by today after work again, was awesome since last week purchased 3 Peace dollars, and another $8 worth of junk silver at spot price. :D


It's great to hear you're able to get junk silver at a reasonable price! Where I am, it's at a premium- both figuratively and literally.

The previous owner of my local coin store just mixed everything together and charged a very reasonable, flat price for 35%, 40%, and 90% silver- no matter coin it was, or what it looked like. Heck, I've picked up 40% silver 1976 half dollars, multiple BU Franklin half dollars and BU 1964 half dollars, a 40% silver 1970-D half dollar, and many more interesting coins.

However, the new owner that recently took over bases his pricing on at least half a dozen factors. There may be more than this, but I stopped paying attention after it became clear that I wouldn't be paying anywhere near spot price.

- Condition (you must pay more for better-condition junk silver, but NOT less for coins in worse shape)

- Small purchases versus large purchases (so you can't get a decent price for just a few dollars' worth face)

- Personal selections versus "grab it and go" handfuls (which means you apparently can't pick through the junk silver bin and look for coins that are appealing to you personally without paying more for that "privilege")

- Current listing prices on eBay (I asked how much it would be for 2 40% silver half dollars, and he spent 5 minutes researching them on eBay first)

- "The inherent rarity of all forms of junk silver"

It's quite the change from what I've been used to, when I could just walk in and buy anything they had in stock at 12x face or 12.5x face...

Just to give an idea of his pricing, I paid 15x face for $1.00 in Mercury dimes back when their melt value was 11x face. Before I purchased them, he wanted to examine all of the dimes individually to assess their condition, look at their mintmarks, etc.--and doubtless charge me more--but fortunately I was just looking for 1940s coins. I'm quite afraid to go in and see what the pricing is up to now, since silver has gone up quite a bit since then...
Edited by Earendil
05/02/2016 08:55 am
Pillar of the Community
Norway
1358 Posts
 Posted 05/05/2016  12:26 pm  Show Profile   Bookmark this reply Add UltraRant to your friends list Get a Link to this Reply
Recently bought a lot of coins at bullion value in Oslo (of all places...). Just over $1 for some silver dimes (Mercury and Roosevelt), a lot of commemorative Norwegian, Belgian and Dutch coins at bullion value, and quite a few American coins at just over bullion value (even Silver Eagles at just about $18 a piece).
Best is that they also have some gold coins at bullion value. I managed to get hold of a piece that has a significantly higher numismatic value.
Not all coins are actually at this price level, so it remain a bit of a lucky shot if there's something useful to be found. Anyway, needless to say, I think I was the 'customer of the week' there last week. My collection of bullion coins has suddenly grown. I'll try and see if they also have palladium coins next week, as I somehow still have hopes to get my hands on a palladium coin once (but preferably not too expensive). Perhaps a Russian one or so. Would be awesome.

This week I'm in Iraq, where mostly gold just goes at bullion value (or a tad below if you're willing to invest a bit of time and search the bazaar), most via copies of Trukish lira coins and bullion bars. Haven't seen much silver around here yet.
Valued Member
United States
71 Posts
 Posted 05/05/2016  12:56 pm  Show Profile   Bookmark this reply Add weeds19 to your friends list Get a Link to this Reply
I was able to get BU rolls of 1964 Kennedy halves and Roosevelt dimes (mostly 57, 63 and 64) for 15X face on 28 April from my LCS. Not spectacular, but pretty decent IMHO.
Valued Member
United States
163 Posts
 Posted 05/19/2016  2:22 pm  Show Profile   Bookmark this reply Add Earendil to your friends list Get a Link to this Reply
I was in a new area today and decided to visit a dedicated coin store I was driving past.

Differing from what I've seen everywhere else, the proprietor was selling perhaps six or eight $10 face value bags of junk silver at $145 a "pack." Silver was roughly $17.15 an ounce at the time, so the premium was $2.90/ ounce.

The owner declined to let me look through anything, stating that their preference was to sell junk silver in (sight-unseen) $10 lots.

I inquired into the possibility of purchasing a much smaller amount of junk silver, stating that I did not have that much cash on me. The store owner eventually relented and pulled out 2 random Franklin half dollars from one of the bags. The price was 14x face, or $2.21/ ounce over spot.

After I paid and left, I decided to take my business elsewhere in the future. While the pricing was fairly decent, I feel it's definitely important to review junk silver prior to a purchase (for obvious reasons).
Edited by Earendil
05/19/2016 2:23 pm
Valued Member
United States
163 Posts
 Posted 06/20/2016  4:28 pm  Show Profile   Bookmark this reply Add Earendil to your friends list Get a Link to this Reply
After a long hiatus due to a rise in premiums, I picked up a few dollars' face value in 90% silver today.

At the first store I stopped at, I was eventually able to purchase 2 Franklin half dollars for 15x face.

I say "eventually" in the above instance because the dealer was very unhappy that I was not buying in bulk (a minimum of $20-$30 face, apparently). For a few minutes, I thought I would actually be refused a sale.

He could also not understand why I would want to add to an ongoing roll of single-type Franklin half dollars (I buy coins for the roll as I have the money). He was very reluctant to open up access to these versus having me select from his own "close your eyes and pick one" bag of half dollars.

When I was ready to make my purchase, he then commented on how a well-worn 1949-P half dollar I had picked out of the 8 or 10 coins he finally saw fit to let me look at did not belong in the junk silver bag due to it being a "second year coin." Thus, it was going to cost more.

Fortunately, he quickly backed down from this approach, and he eventually came up with a figure of $15. I paid him and left.

The owner of the second store I visited was infinitely kinder. I took my time picking out some decent pieces from a bag of dimes, a bag of quarters, and a bag of half dollars. I eventually chose a total of $2.10 face in 90% silver. The price was 14x face.

It seems like I've had quite a run of bad luck with coin dealers lately! It's surprisingly hard to find ones that are willing to help people who are looking for quality over quantity.

Silver is approximately $17.50 an ounce as I write this. 14x face is a premium of $1.87/ ounce over spot, while 15x face is a premium of $3.25/ ounce over spot.
Edited by Earendil
06/21/2016 10:19 am
Pillar of the Community
United States
3717 Posts
 Posted 06/20/2016  5:46 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
One of the local coin shops in my area was asking 14.5x face. Appeared to be a good mix of denominations including some better condition Franklin/Kennedy halves. Decided to pass in favor of some Englehard Prospector rounds.
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