| Author |
 Replies: 17 / Views: 3,923 |
|
Pillar of the Community
United States
979 Posts |
I am searching on ebay, because I am thinking of acquiring some junk silver. I'm not particularly interested in fancy things like ASEs, I'll have fancy things when I get done with college. So, per troy ounce, what TOTAL price is good? I'm looking to compare ebay junk silver prices with local shop's prices, The shop is about an hour away and closed when I'm not in classes most days. It seems like ebay might be cheaper because of that fact if I'm buying little bits at a time, like an ounce here and there. Also, what are your thoughts on less than 90% silver? Like 40% kennedys and War Nickels? I mean, I obviously save the one's I find CRH and am super happy when I find them, but are they worth buying for their silver weight? Any good/bad ebay sellers I should know about? Thanks for any info! |
|
|
|
Bedrock of the Community
Australia
21788 Posts |
90% of melt, net of all other costs.
If higher, it has to be a numismatic item, and considered as such.
That is why I but so very little junk silver.
It has taken me 10 years to build my junk silver stash to 10 ASW ounces.
It has all come as a by catch from bulk lot buying.
|
|
Pillar of the Community
 United States
2448 Posts |
In my humble opinion, silver is silver regardless of being 40 or 999 percent. At 40% it just takes a lot more bulk to build a good inventory. If you just want junk that just floats with the market, look at sterling, 92%. Sometimes you can pick it up below melt if the seller isn't up on the spot price. Just be careful of the "so many x face" value some folks use to sell. Well circulated silver coins can loose a lot of silver in circulation and if the number of times face value is over the 90% melt value, pass on the buy.  |
|
Pillar of the Community
United States
919 Posts |
Search threads on selling 40% silver. You will find many guys have trouble selling those. As for 90% that is pretty liquid. Do a google search for coin silver value and you will see what each coin is worth (silver content). I usually go from there. Shipping can really make it expensive. It might be worth it to make a connection with a local person. "Junk" also shows up on here on a regular basis. It does not last long. The neat thing about 90% is you are buying dimes, quarters and halves from the 30's, 40's and 50's. If you pick out better condition items it can be fun. I buy only EF/XF grade.
|
|
Pillar of the Community
United States
1812 Posts |
In my Town there is a PM Purchaser that stands out at the nearest intersection waving a large sign advertising he pays top prices for Gold & Silver. In need of cash, I decided to stop bye his shop and mentioned that I have 100 ounces of silver, 80 ounces are 10 eight ounce .999 Rounds from the Washington Mint and the balance in Morgan dollars. He replied that they pay 70% spot, and I replied "Have a nice day" and decided to hold off for a bit. |
|
Pillar of the Community
 United States
979 Posts |
That's pretty bad, but I experimented with cach4gold at the mall. I handed over a few coins that were worth a bit over $7 in silver, he offered $3! That's 40% spot! I wasn't looking to sell, just curious.
I was thinking back to a time when a friend of mine found a broken gold ring in the mall and sold it in the mall at that cash4gold right away and got a little over $100 for it.
After my experiment I realized...
It was probably more like $300 in gold value.
Sad...
Edited by Broseph
01/29/2013 12:14 pm
|
|
Pillar of the Community
United States
979 Posts |
I just called my closest coin shop. They sell junk silver for a pinch over spot for small quants, 23x face.
That would be $2.30 for a dime, which is $2.26 at spot.
He said $4.50 for 40% silver halves, which at spot would be $4.62
He said in larger quantities, he would allow more picking and choosing, like if you wanted to mix it up and get some things older than washingtons, kennedys, and rosies,
He said that if it's a decent amount, like $100, he would go down to 22.5. Not a huge discount, but it would be under spot. Not much though.
|
|
New Member
United States
9 Posts |
I just got some at around 21.75x face, so I guess that's the going rate. I got around $36 face value, but I think he gave me a little deal. The price of silver has gone up a buck since my purchase last Saturday, so maybe 23x is the new price.
|
|
Pillar of the Community
United States
2168 Posts |
I am lucky that I have a local shop that sells any amount for 3percent over spot. Maybe not the best out there but no fees or waiting.
|
|
Pillar of the Community
United States
4008 Posts |
A good price for junk silver depends a lot on your location. Here in the US Pacific NW where I live, I can get junk silver coins for spot... when they are available. Lately, the availability has not been very good. No junk silver is available here for less than spot unless you just happen to find a really good deal. Such deals are exceptionally rare here.
|
|
Pillar of the Community
United States
745 Posts |
stay away from junk silver War Nickels... first thing is that US law says you cannot melt penny or nickels. dealers don't want junk silver War Nickels, too low in silver. stick with 90% it's best to buy & sell |
|
Valued Member
United States
292 Posts |
Thanks. I didn't know we couldn't melt nickles.
|
|
Pillar of the Community
United States
979 Posts |
Good point, I know you can't melt nickels, but for some reason my brain segmented War Nickels in another category of coins, namely "silver"... weird. |
|
Pillar of the Community
Canada
572 Posts |
Quote:
He said in larger quantities, he would allow more picking and choosing, like if you wanted to mix it up and get some things older than washingtons, kennedys, and rosies,
Are worn common-date Mercuries, Liberty quarters and halves worth more than melt? If they are the same price, would you prefer a Good Standing Liberty quarter to EF Washington quarter? |
|
Bedrock of the Community
13014 Posts |
Quote:Are worn common-date Mercuries, Liberty quarters and halves worth more than melt? If they are the same price, would you prefer a Good Standing Liberty quarter to EF Washington quarter? Not really unless youre talking about the seated liberty ones and then they get a bit of a premium just for being harder to find. Without specific dates or being able to see the coins in question I cant really choose between the standing liberty and the washington. Some G coins look decent while others look awful. If it looked decent id probably go Standing Liberty, if it looked awful Id go Washington |
|
Pillar of the Community
Australia
4411 Posts |
All aussie denomination from the threepence up that were minted before 1946 are 92.5% sterling. From 1946 to 1964 they were 50%. I dont know how you feel abut buying non US 'junk silver' but the aussie stuff can be picked up for below spot if you look hard enough on ebay. |
| |
Replies: 17 / Views: 3,923 |
Posted 01/29/2013 04:10 am
