Exchange 40%ers for bullion

[Sfynks870]

Well, I have a couple appointments with coin dealers today. We will be discussing trading my 40%ers for 90% or silver eagles. However, I am new to the silver game and have zero idea as to what I should expect. What bottom dollar should I have on the worth of my 40%s? What is the top dollar in worth I should be willing to give for 90%s or silver eagles?

 

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[Joe777Cool]

If he sells them for spot or higher compared to 20% under trading them in to his lcs?

 

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[Liu21]

I'm pretty sure if the option of selling his 40% silver at price spot for cash he would have taken that option then take the cash and head over to his lcs or better yet one of the online dealers and get a better deal on .999 silver. The truth is 40% halves are hard to sell for spot price. Not many people want to "buy" them at spot price.

 

[fistfulladirt]

I'm pretty sure if the option of selling his 40% silver at price spot for cash he would have taken that option then take the cash and head over to his lcs or better yet one of the online dealers and get a better deal on .999 silver. The truth is 40% halves are hard to sell for spot price. Not many people want to "buy" them at spot price.

That's true, it is difficult to get more money when it's time to sell 40%. I come from a time when as a roll hunter and $50 silver, 40% halves were undesirable and difficult to sell even over face value. I know the circumstances are a bit different today, but many still consider 40% halves dirty. OTOH, there are those cases where spot price or higher is obtainable.

 

[LooseChange]

There are ways to come out ahead trading physical PM for physical PM.

When the gold to silver ratio is high (as it is now), you trade gold for silver - in any form that you have for any form that you like.
When the gold to silver ratio is low (as it was from 2011 to 2013), you trade silver for gold.

Anyone who has substantial holdings of PM should do it religiously. If you follow the rules, then every time you make a trade, you increase your net holding of PM.

 

[FormerTeller]

When silver was coming down from its high point a few years ago, I started tracking the buy/sell priced Provident Metals was paying for 40%, 90%, ASE's, and eventually gold. Unfortunately, while I did record the dates, I didn't track the spot prices for the first 6 months.

On August 28, 2012 spot for silver was $30.95. Provident was buying 40% for $8.61 (per $1 face). That's over 93% of spot. By comparison, they were paying just over 96% for 90% silver. Fast forward to today, when spot is $14.46 Provident is paying over 95% for 40% silver.

Cards is right; if your goal is to save silver until you're ready to sell, then only sell it once. If for whatever reason you want to convert, be aware you'll be taking a potentially huge hit when you convert, and likely another big loss when you sell later.

 

[Greastart]

Zomo,

I've done it. Watched some youtube vids, got the stuff I needed and went to work. In my opinion it's not worth it. I'm sure it gets easier as you go.
Here's why I think it doesn't pan out.

You take a known quantity of 40% silver and turn it into an unknown. Who is going to believe you down the road when you say "no really, I took a bunch of 40% coins, dissolved them in nitric acid, precipitated the solution with copper, gathered the precipitate, rinsed it with distilled water, then melted it and poured it into this shiny little button!" Unless you can prove to your future buyer that it really is .99% (assuming your process is really clean)

Fun to do once. but not worth the hassle in my opinion.