What's The Best Value Of Junk Silver For Bullion?

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Author	Replies: 7 / Views: 2,386
LibertyEagle20 Pillar of the Community United States 1189 Posts	Posted 12/24/2015 10:30 am What do you think is the best value for junk silver? I'm not talking about key date coins or anything like that. I am referring to silver coins stored as bullion (for their silver value). Dollar coins are out because right now even for well circulated Morgans or Piece dollars you are looking at about $20. Melt is around $11-12. That's a pretty hefty mark up. Dimes are usually reasonably priced where you can get a roll of circulated coins for $55-60 and the melt value is about $1 per coin. Unfortunately they are pretty small pieces of silver. Half dollars are a good amount of silver but some have a decent markups (Barbers, WL). What do you think are the best valued junk silver coins? * Moved by Staff to a more appropriate forum. * Report this Post to the Staff

Mister Kairu Pillar of the Community United States 1911 Posts	Posted 12/24/2015 10:45 am Well my LCS has pretty worn coins (mostly walkers, merc dimes, Standing quarters, and the occasional Barber coinage) for about 10x face right now. They weigh it and then apply spot price. Pretty nice compared to what others on the forum have posted. Report this Post to the Staff
LibertyEagle20 Pillar of the Community United States 1189 Posts	Posted 12/24/2015 12:38 pm That's kind of nice they weigh it instead of just saying 10x (or whatever). Some of the barbers and older coins have a decent amount of wear so you know they don't have the amount of silver they did when they were minted. I don't have a LCS anywhere near me so I solely rely on ebay. It's tough to find good deals. I pretty much have to be on the lookout for BINs right when they go up or auctions that end at off hours. When I visited Orlando I went to a couple of coin shops and enjoyed myself. At the time a quarter was worth around $2.75 melt and they were charging $3 each. I was able to cherry pick higher grade ones out of the bin and thought that was a pretty fair price. On ebay you regularly see worn quarter rolls sell for over $120. Report this Post to the Staff
fistfulladirt Pillar of the Community United States 4333 Posts	Posted 12/25/2015 08:37 am 1964 Kennedy halves if you can get them for normal premiums. It's my opinion that they are the best buy, as normally they are very crisp due to light circulation. When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72 Report this Post to the Staff
Finn235 Pillar of the Community United States 6130 Posts	Posted 12/25/2015 4:34 pm If all you want is silver, buy silver bars or rounds and not coins. Buy from the aftermarket only, because almost every private bullion mint will try to charge a premium for whatever reason. If you can snag them from an estate sale or ebay, you can grab them for just under melt sometimes. Foreign silver is also a good place to look. The modern bullion goes for roughly the same premium as an ASE, but older circulating silver will frequently go for a bargain. I have pieced together a small bag of foreign silver from ebay lots, most of which was acquired for just under melt. For US coins, there is a direct correlation between the size of the coin and the premium over spot. Dimes and War Nickels are the best deals, and halves and dollars go for the most premium. Report this Post to the Staff
cladking Pillar of the Community United States 2271 Posts	Posted 12/25/2015 11:05 pm If you're going to keep them at least a couple decades the best bet might be silver War Nickels. Be careful with these thought because now they sell at a large disciunt to bullion and this discount could get larger. I believe most are used in the electronics industry to save the cost of refining them. It will require the destruction of most of the entire mintage before the discount evaporates. With silver at $14.25 the wholesale price on them is $24.95/ roll. You can't pay much more and be safe. The beuty of these is they contain $32.10 worth of metal. This leaves you a substantial profit if the discount evaporates. Of course the discount could get worse as well if the market dries up and they have tobe refined in a weak silver market. I think they're the best bet for younger folks planning a long term hold. Of course you should never put all your eggs in one basket. Foreign silver coins can often be had at close to face value. These are fun to collect and if you seek tougher and scarcer issues you have a chance of making numismatic gains as well. If you buy US 90% silver then be aware that worn coins sometimes bring a discount. A bag of '64 Kennedys has gone for more than a bag of well worn barber halfs. A good idea is to trade your silver for better numismatic value. When barber halfs have a large premium trade them for kennedys and then trade the kennedys back into barbers when the situation reverses. Usually you want to maximize the amount of silver you get but sometimes you'll get good opportunities on numismatic coins. Buy silver when it's low and trade on the upticks. Be patient but also be aware that silver is dramatically undervalued and it won't always be. ...And then it will probably crash again. It is very volatile which makes trading possible. Time don't fly, it bounds and leaps. Report this Post to the Staff
Libertad Pillar of the Community Canada 3692 Posts	Posted 01/02/2016 2:35 pm "If all you want is silver, buy silver bars or rounds and not coins." ^ This. You want silver, so get silver, not the alloyed stuff. "Junk" is not bullion. I'm still unsure if you want coins that contain silver or 100% silver, but I would have to recommend silver bullion rounds/bars because they are the best deal for silver - because it's silver and nothing else! Buying "junk silver" for the purpose of collecting silver is like putting sugar in your gas tank. Again, as I always state in times like these, is what do you need the silver for, or more precisely, what do you need the coins for? Because if you want the coins for the silver, why not just buy pure/fine silver? Forget about "melting" or refining your coins, as you will not get near the amount you calculated and quite frankly if you refined the coins by yourself you would be losing money because you wouldn't know what you're doing, spending time and materials on experiments and hobby. So my guess would be that you're looking for coins to refine at a later time when price rises. This requires some actual homework or footwork on your part, seeing that our local coin shops are not the same as yours Report this Post to the Staff
JoggingLiberty Valued Member 292 Posts	Posted 01/02/2016 9:35 pm It does depend on the coins you're getting as some coins demand higher prices than others. For example: you can find Washington quarters all day for 12xface or less. However, standing liberties will cost another dollar or two typically. Usually, I try to look for prices around 12-14 dollars Report this Post to the Staff
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