1964 pricing

[Sitting With Liberty]

What's the average buy price/sell price right now at local shops for 64 kennedy halves?

One other question: If gold or silver is priced by the ounce, in what way do the dealers make money on it by selling it? I could see if they are buying it from a walk in customer say 5 or 10% below spot (are those the average rates?) on bullion or rarer coins, but what about when they have to buy large quantities from wholesalers to fill orders? Can someone explain the process to me?


Thanks

 

[Cherryman68]

Dealers vary, I sell mine on e-bay or here on Tnet. I have had great success with both.

 

[fistfulladirt]

When spot goes up, that doesn't always mean dealer prices change. When I last purchased silver Kennedy halves, I bought in (at quantity) 10.2 X face. If one was to leave the shop and returned to sell, they, (dealer) would pay 7X face.

 

[Sitting With Liberty]

I guess my question is if anyone knows how it works for the dealer to buy gold wholesale from a wholesaler and still be able to make a profit? Does the wholesaler sell to him below the spot price?

 

[Silver Stripe]

The wholesaler sells at a smaller premium in bulk, local dealer sells at higher premium since he doles out smaller orders. HH Mark

 

[jimmy28303]

The formula to tell what a honest dealer will pay for 90% silver is to take the price of silver and multiply by .66 For example, right now silver is $12.83

$12.83 X .66 = 8.46

So you can expect a dealer (a honest one that is) to pay 8.4 X face.

 

[Silver Stripe]

The formula to tell what a honest dealer will pay for 90% silver is to take the price of silver and multiply by .66 For example, right now silver is $12.83

$12.83 X .66 = 8.46

So you can expect a dealer (a honest one that is) to pay 8.4 X face.

Is there such a thing as an honest dealer? My one dealer seems to be fickle ie. not consistent. I did have the opportunity over the weekend to visit with another local dealer and I had a much better feeling, not like being laughed at as I left. Think I will do more business with them in the future. HH Mark

 

[jimmy28303]

The formula to tell what a honest dealer will pay for 90% silver is to take the price of silver and multiply by .66 For example, right now silver is $12.83

$12.83 X .66 = 8.46

So you can expect a dealer (a honest one that is) to pay 8.4 X face.

Is there such a thing as an honest dealer? My one dealer seems to be fickle ie. not consistent. I did have the opportunity over the weekend to visit with another local dealer and I had a much better feeling, not like being laughed at as I left. Think I will do more business with them in the future. HH Mark

I understand where your coming from but yes, we are out there. I am a dealer that does only shows. I do not have a store front. This is the formula that I use. You can look at major bullion dealers and they will be very close to this formula. There are some dealers that will try to cut your throat but there are plenty of us that believe in repeat business and word of mouth.

 

[Goes4ever]

my dealer makes money on LARGE volumes, last time I sold to him he was paying me 10X face and selling for 10.3X face, why his profit was low per coin, he dealed in large volumes. He had a list of people waiting and willing to pay the 10.3x face so to him it is worth it. By paying that price he gets almost everyone to bring silver coins to him

 

[mlayers]

If I fine someone that wants to sell there silver. And I have the extra money I will pay them 10X face for their coins at least I know the coins will not be melted down and I can add them to my collection......Matt

 

[fistfulladirt]

If I fine someone that wants to sell there silver. And I have the extra money I will pay them 10X face for their coins at least I know the coins will not be melted down and I can add them to my collection......Matt

I wonder what percentage of coin is actually melted, if any. It seems to me that they just trade hands alot. Curious. ffd

 

[jim4silver]

If I fine someone that wants to sell there silver. And I have the extra money I will pay them 10X face for their coins at least I know the coins will not be melted down and I can add them to my collection......Matt

I wonder what percentage of coin is actually melted, if any. It seems to me that they just trade hands alot. Curious. ffd

Other than smoothie looking coins, I doubt many are being sent to the smelter, since dealers can usually sell them to silver bugs for more than they would get if they sent them to be melted. Especially in the first six months of this year as premiums were way above melt. They premiums are coming down now, so if they keep dropping it may make more sense for a coin dealer to send them to the smelter.

Jim