Bullion Formula - Coin Community Forum

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Author	Replies: 4 / Views: 1,546
briank Valued Member United States 256 Posts	Posted 01/09/2012 2:50 pm I'm jumping back in the coin game after years of being away. With the silver market going up and down , what formula do I use to determine what to pay for bullion ("junk") coins. For instance when silver is 30.00 an ounce, what is the price per face I should pay? I know silver dollars usually carry a dollar or two premium but I don't want to get taken when buying bullion coins. Thanks! Report this Post to the Staff

SilverEye Valued Member United States 318 Posts	Posted 01/09/2012 3:02 pm Check out APMEX.com. If I can do better than their prices, I feel I'm getting a good deal. Look at their Top 40 page, that's the common stuff. They have an extensive catalog and you should be able to find anything that anybody else is trying to sell you, all grades and national origins. You can buy right from them, I have and they are very good, but you take it in the keister on the vig for shipping unless you are buying a bunch. Report this Post to the Staff
CoinHunter53562 Pillar of the Community United States 2049 Posts	Posted 01/09/2012 6:43 pm For US dimes, quarters, halves that are 90% the standard seems to be to figure 0.715 ounces of silver per $1 face (they use this to account for wear on the coins). So at $30/oz, you are looking at about $21.45 per $1 face. For Morgans and Peace dollars, the minted weight is somewhere around 0.7735 ounces of silver per silver dollar. I don't know what the standard is for wear but use that as a starting point for the silver content. Report this Post to the Staff
briank Valued Member United States 256 Posts	Posted 01/10/2012 07:16 am Thanks for the replies. I thought that might be the way to go as far as weights but I guess the coins shops near me mark up their junk more than I initially thought. I'll have to look at Ampex Report this Post to the Staff
barryg Pillar of the Community United States 5850 Posts	Posted 01/10/2012 09:05 am Goldmart has "junk" silver available at around $21.70 per $1 face: http://www.goldmart.com/bullion-1/s...-before.html You either need to pay a hefty fee to order via credit card, however, or be willing to wait a few weeks for delivery if you want to pay by check and avoid the fee. Similar bulk coins at APMEX are currently selling for around $24 per $1 face. Expanded Digital U.S. Type Set Album \| Dansco 8100 (Lincon Cents) Album \| Digital Proof Type Set \| Digital U.S. Currency Type Set \| Foreign Bullion Coins Report this Post to the Staff
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