What Price Could I Expect To Get For "junk" Silver?

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Author	Replies: 8 / Views: 4,754
crusherjc Valued Member United States 139 Posts	Posted 01/30/2011 9:27 pm If spot silver is $28.00 ounce, and say a "junk" Morgan dollar is worth $21.66, what would I expect to receive as a "buy" offer for it from a gold/silver buyer? A dollar less per coin? Or is it a percentage of what spot is, say 90% of spot? Have alot of junk silver thinking of selling some. Thanks for any advice..... Jim Report this Post to the Staff

BH1964 Bedrock of the Community United States 10982 Posts	Posted 01/30/2011 9:35 pm Silver dollars are different than other 90% junk because they gave a higher silver content per dollar of face value and because they retain some numismatic value unless they are culls (holed, damaged, slick, etc). For U.S. fractional 90% like halves, quarters and dimes that are "junk", expect to get 5% to 10% under spot for an offer. Silver dollars should bring very close to spot. Using $28 silver as an example, here's what I'd expect (from a decent offer): Dimes: $1.80 Quarters: $4.50 Halves: $9.00 Dollars: $21.00 May require some bargaining but don't take less with silver at $28. ANA #R3154474 Report this Post to the Staff
amida17 Pillar of the Community United States 4897 Posts	Posted 01/30/2011 10:15 pm (124) Not Allowed - Auto-Removed .com to give you an idea on the junk. Report this Post to the Staff
amida17 Pillar of the Community United States 4897 Posts	Posted 01/30/2011 10:18 pm Sorry guess I can't do that.... Report this Post to the Staff
schnauzer Valued Member United States 212 Posts	Posted 01/31/2011 01:59 am Don't sell. Keep it and hold on. The fun is just beginning! Problem solved. But if you insist..... Put together $1.00's worth of junk silver. 10 dimes, 4 quarters or 2 halves. $1.00's worth. Multiply .72 X silver spot. Example: 4 pre 65 quarters ($1.00) .72 x $28.01 = $20.17. The .72 represnts 72/100th of an ounce of silver. Morgan and Peace dollars: Multiply .77 x silver spot. Example: 1 Morgan dollar or Peace dollar ($1.00) .77 x $28.01 = $21.57. The .77 represents 77/100th of an ounce of silver. The .72 remains constant for the dimes, quarters and halves. Only the spot price will change. The .77 remains constant for the Morgans & Peace dollars. Only the spot price price will change. I'm getting all the junk silver I can afford. And holding. Holding. Report this Post to the Staff
Tim Stroud Pillar of the Community United States 2661 Posts	Posted 01/31/2011 05:39 am Depends on the buyer. Had a guy offer me 10x face on Friday and when I laughed in his face he told me that was the going rate anywhere you go. I ended up getting 17.5% 3 blocks down the street, the best rate I can find around here. Only had $3 face so it wasn't no big deal. Report this Post to the Staff
chris12018 Pillar of the Community United States 2130 Posts	Posted 01/31/2011 07:13 am amida17 knock it off Admin. why are scrap metal calculators not allowed? Edited by chris12018 01/31/2011 07:14 am Report this Post to the Staff
vinnycoin Valued Member Canada 442 Posts	Posted 02/03/2011 12:38 am 10x face seems really low? My local guy is offering about 15.xx face, for under $1000. Although I think pre 67 Canadian coins have less silver in them? Report this Post to the Staff
John Galt New Member United States 37 Posts	Posted 02/05/2011 5:47 pm vinnycoin wrote: Quote: 10x face seems really low? My local guy is offering about 15.xx face, for under $1000. Although I think pre 67 Canadian coins have less silver in them? Yes, 10x face is very, very low. Only fools would sell for that. But there are fools out there. Canada used .800 fine coin silver (80% silver by weight)up through 1966 or 1967. Then they had two years (I think) where it was .500 fine. After that they went to junk metals. Also, the weights are different on Canadian coins. Looks like the forum here won't allow posting links or mentioning other web sites. But a quick search online for "Silver coin melt value" will get you a page with melt values based on relatively current spot prices (updated every half hour or so it seems). Report this Post to the Staff
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What Price Could I Expect To Get For "Junk" Silver?