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 Replies: 16 / Views: 4,518 |
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Pillar of the Community
United States
1454 Posts |
I'm going to my LCS tomorrow and wanted to have some bartering ammo when I walked in. My specialty is centered more around limited run, uncirculated world silver than US pre-64 silver.
I'm well-read enough to know people pay a certain multiple of a coin's face value, so I can at least speak the dealer's language. I'm just not savvy enough to know a particularly good buy from a relatively lousy one.
I'd like to hear what you're currently paying for junk silver, and maybe the region of the country where you shop might be helpful, but that's of course optional.
Thanks in advance!
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Pillar of the Community
United States
3184 Posts |
15-16x for halves, dimes and quarters are a good price. You'll pay more for silver dollars as they weight much more than lets say two halves so its different. Also earlier date stuff like barbers go for more.
you could check (124) Not Allowed - Auto-Removed too :)
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Pillar of the Community
United States
1234 Posts |
15 to 22 times face is what the last thread on this topic said. I'm in the middle at 20 times on most change but 22 times on Morgan's and that is un-graded from the cull bin. I came up with a few ugly Morgan's last month but I figure I can always use them for up-grades later. Quote:
You'll pay more for silver dollars as they weight much more than lets say two halves so its different The Proportion of silver is constant for Dime, Quarter and Half. According to Krause 1 half dollar is 0.3617 troy ounces *2= 0.7234 one Morgan is 0.7734 troy ounces that is a difference of .05 troy ounces. If my math is right that works out to 1.555 grams, or 24 grains. 1 Troy ounce = 31.1 Grams = 480 Grains The silver dollars are just older like the Barbers, that is why the extra gouge on higher premiums. |
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Bedrock of the Community
United States
10982 Posts |
Just take the spot price and multiply by 0.715. If spot is $20.00 then it's 14.3X face and so on.
This is assuming you're buying/selling 90% junk silver. Of course there has to be a profit margin for shop owners so they might pay a bit less and charge a bit more when selling.
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Pillar of the Community
United States
648 Posts |
Quote:
Just take the spot price and multiply by 0.715. If spot is $20.00 then it's 14.3X face and so on That is true for dimes. There are other calculations for each respective coin. To determine the silver (melt) value of a circulated dime, multiply the current spot price of silver times .0715. For example: $20.00 x .0715 = $1.43 To determine the silver (melt) value of a circulated half-dollar, multiply .3575 times the current spot price of silver. Example: .3575 x $20.00 = $7.15. To determine the silver (melt) value of a circulated quarter, multiply the current spot price of silver times .1788. Example: .1788 x $20.00 = $3.576. |
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Pillar of the Community
United States
1200 Posts |
My LCS doesn't really barter or negotiate their offering price when the prospective transaction is just selling some 90% junk silver. If you had something to
barter that they really wanted, they might flex somewhat, but that's not very likely. That being said, I think the multiples of FV mentioned above are realistic.
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Pillar of the Community
United States
1234 Posts |
According to Krause...
Dime .0723
Quarter .1808
Half .3617
I'm not saying Krause is right, they seldom are but where are you getting your numbers from tripncoins?
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Pillar of the Community
United States
648 Posts |
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Pillar of the Community
United States
1234 Posts |
Ohhhh, they are taking into account the "wear factor", they did mention Mercury dimes are 90% silver and 10% copper. Uncirculated coins contain .0723 Troy ounces of pure silver. So this is their estimate of what has been lost over the past few decades. I'm sure my LCS would only use those numbers when they were buying, and the Uncirculated numbers when selling.  |
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Pillar of the Community
United States
4333 Posts |
22X is good. 10X is better. And everything in between.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Bedrock of the Community
United States
10982 Posts |
The 0.715 multiplier works for all 90% junk U.S. silver which includes dimes, quarters and halves. It is used universally in the U.S. and does allow for a slight amount of wear.
Spot price times 0.715 will provide you with the current face value multiplier.
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Valued Member
United States
264 Posts |
Quote:
My specialty is centered more around limited run, uncirculated world silver than US pre-64 silver. For 2013, I focused on Peru junk silver because it is: 1) Cheaper per oz than US junk silver 2) Less competitive in ebay auctions compared to US currency 3) Has silver content minted on coins I got so tired of hearing people tell me that worn down morgans were worth high premiums that I let them keep their overpriced junk and now enjoy my world silver.  Just my .02! |
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Pillar of the Community
United States
1088 Posts |
Yeah I have seen it for 12-18 times face on a normal basis around my area. Decent price. I have found a few dealers trying to sell for 20-30 times face at shows and pawn shops. I guess they find some suckers to buy at that price. I would try to stay around the mid teens times face value
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Pillar of the Community
United States
1804 Posts |
rgarthright.. Quote:For 2013, I focused on Peru junk silver because it is: 1) Cheaper per oz than US junk silver 2) Less competitive in ebay auctions compared to US currency 3) Has silver content minted on coins Thanks for the heads up. I have "family" in - from Peru. |
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Pillar of the Community
United States
1804 Posts |
I am open to buy junk Peace at $21-22 & Morgans at $23-24
I am open to buy junk US .90 coins at 15 X face
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Pillar of the Community
United States
648 Posts |
Quote:
The 0.715 multiplier works for all 90% junk U.S. silver which includes dimes, quarters and halves. It is used universally in the U.S. and does allow for a slight amount of wear.
Spot price times 0.715 will provide you with the current face value multiplier Interesting. I didn't know that. Thanks |
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Replies: 16 / Views: 4,518 |
Posted 02/20/2014 9:49 pm
