Spread On Selling Silver - Coin Community Forum

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Author	Replies: 4 / Views: 1,046
small change Valued Member United States 69 Posts	Posted 03/15/2008 6:31 pm I just checked the buy price on silver at the local mall coin shop. I know this is not the best place to buy or sell silver, but I was just trying to get a feel for what they would pay. I was quoted 13.20 per 1.00 face value. Silver at the time was 20.20 per ounce. I am not selling any at this point but what is the ratio of buying versus selling. I calculate the silver value at over 14.30 face, do most or all dealers buy at less than this. He would not give me a spread of buy versus sell, he said it depends on what his source is paying which varies. Report this Post to the Staff

CoinHunter53562 Pillar of the Community United States 2049 Posts	Posted 03/15/2008 8:27 pm Yeah of course dealers are going to pay less than melt value. They have to be able to make a profit. Generally, I have heard that dealers margins are in the 5-10% range, so they rely on volume to make their money. The same applies to coins with numismatic value. They rely on the priceguides like the greysheet and there is a bid column and an ask column. Bid is what you would expect the dealer to pay, and ask is what you would expect the dealer to sell you the coin for. Again, the spread there is probably in the 5-10% range. Report this Post to the Staff
halfabustisbetter Pillar of the Community United States 1984 Posts	Posted 03/15/2008 8:37 pm $13.20 is pretty good. Report this Post to the Staff
dom Valued Member United States 265 Posts	Posted 03/15/2008 9:56 pm Just got back from a coin show in Orlando and most of the dealers for raw circulated Morgan's was 13.4 x face value..... Report this Post to the Staff
One Red Cent Valued Member United States 169 Posts	Posted 03/16/2008 12:47 am My local coin shop is selling circulated dollars at $15 and circulated dimes, quarters, and halves at $14 per $1 face value. I think he's actually selling it for less than melt value. I doubt he'd pay much more if any more than $13.20 right now. Just so you know, this same dealer marks up silver ingots at 40 cents per ounce over spot, and pays 40 cents under spot. Report this Post to the Staff
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