selling my old silver for scrap

[Ant]

They charge 10% no other fee...

I think the other 10% he was referring to was the fact that he calculated the weight at 100% silver rather than 90% silver. So his deduction of 20% (10% for the fee plus 10% for the incorrect math) is right. Minus also postage and insurance.

-Buckleboy

Hey my math was not incorect, I missed a factor, so say it like it is .

 

[Ant]

as long as were on the subject,i've got some 1/2s i was thinking about getting rid of,but i think i might be getting screwed,i've got 127 90%ers and 325 40%ers,a guy offered me $1200.any thoughts?

If 40% silver coins weight 12.5 grams, the same as 90% coins, I think your payout would be better at Midwest Refineries, like $104.00 bucks better. You loose 60% off the spot price on 40% silver coins, and you loose a 10% fee separate to Midwest. You only get 70% of the spot price with 40% coins. You loose 20% from spot price on 90% silver coins.

Here’s what I got:

325, 40% US Silver Half Dollars weighting 12.5 grams each, the equivalent to 127.477 Troy ounces:
40% Silver: 325 x $4.95 (70% Spot) = $631.00


90% Silver: 127 x 13.20 (80% Spot) = $673.64

Your total would be close to $1,304.64

 

[BuckleBoy]

They charge 10% no other fee...

I think the other 10% he was referring to was the fact that he calculated the weight at 100% silver rather than 90% silver. So his deduction of 20% (10% for the fee plus 10% for the incorrect math) is right. Minus also postage and insurance.

-Buckleboy

Hey my math was not incorect, I missed a factor, so say it like it is .

Dang factors! (Not MATH factors, but a "consideration" in the equation. ) No problem, Ant.

Cheers,


Buckles

 

[Ant]

They charge 10% no other fee...

I think the other 10% he was referring to was the fact that he calculated the weight at 100% silver rather than 90% silver. So his deduction of 20% (10% for the fee plus 10% for the incorrect math) is right. Minus also postage and insurance.

-Buckleboy

Hey my math was not incorect, I missed a factor, so say it like it is .

Dang factors! (Not MATH factors, but a "consideration" in the equation. ) No problem, Ant.

Cheers,


Buckles

Yeah i like it that way, a consideration .

 

[RaptorSE]

Bomber, I would be happy to get that price on your lot. Its very respectable, in that alot of
people, dealers and refineries will pay much less on 40% Silver due to it being harder to refine...
That is , if they will take it at all. If you took that to a dealer, you would get way less.

I believe Midwest doesnt accept 40% coinage at all anyway. Most refineries wont, but I think there
are a few out there that will. Not sure of who they are right now, since Ive never sent silver to
refineries.

In any case, Id say that is one decent offer if you're in sell mode. The right refiner "may" get you a little
more, but you have the costs of shipping and inconvenience to factor in which would cut that down.

Torrero, good luck in what you decide. Personally, Id keep all Mercs if I found them ! Gotta have treasures to look at and play with Rosies I could sell no problem though haha.

 

[lou423]

Hold on to your silver until mid-year...I believe you will get a better deal then.

 

[bomber]

thanks Raptor,how the crh going?haven't touched a box since i hit that skunck streak of 25 boxes or so, :P but i think i'll start up again

 

[TORRERO]

Unless you really need the money - hold on to that silver - the silver price today will someday be going up.

A lot of this has been in my collection for almost 25 years...
I'm tired of playing with it all.

I could wait forever and eventually something will happen...
LIKE I COULD DIE AND NOT USE THE MONEY...

I'm not wanting to sell all of it, I'm keeping the best of each date in the series that I have dug...
and I'm not selling my "Bust" half Dime.... for any price...

 

[Ant]

Bomber, I would be happy to get that price on your lot. Its very respectable, in that alot of
people, dealers and refineries will pay much less on 40% Silver due to it being harder to refine...
That is , if they will take it at all. If you took that to a dealer, you would get way less.

I believe Midwest doesnt accept 40% coinage at all anyway. Most refineries wont, but I think there
are a few out there that will. Not sure of who they are right now, since Ive never sent silver to
refineries.

In any case, Id say that is one decent offer if you're in sell mode. The right refiner "may" get you a little
more, but you have the costs of shipping and inconvenience to factor in which would cut that down.

Torrero, good luck in what you decide. Personally, Id keep all Mercs if I found them ! Gotta have treasures to look at and play with Rosies I could sell no problem though haha.

From what I understand from reading this is that they accept Silver US coins, not clad, it dose not specifically say they don’t except the 40% coins. They say the pay 90% of the pure contend of the silver contained in the coins; say nothing about not accepting 40% US coins. At least that way I get out of it. Would do you think? That last 90% in the quote is iffy, do they mean 90% silver coins only .

Quoted from MD Refineries:

• Midwest Refineries does not accept silver-plated material.
• We do not accept U.S. clad silver coinage (1965 to present).
• We do not accept silver electrical contacts.
• Midwest Refineries does not accept Silver brazing wire.
• We do not accept any foreign coinage.
• We do not accept nickels.
• We do not accept nickel silver (nickel and zinc)
• We do not accept any magnetic silver materials.
Midwest Refineries pays 88% of the amount of pure silver contained in your order for sterling silver (.925), like flatware and jewelry and photographic silver flake.
Midwest refineries pays 92% for pure silver (. 999) bars, and coins.
Midwest refineries pays 90% of the amount of pure silver contained in U.S. coin silver (90%).

 

[Kas]

Everyone should scrap out their silver except me.

 

[Bassfish]

Here's my understanding of silver content in 90%

There's .715 ozs of pure silver in $1 face falue of 90% siver coinage regardless of the makeup (quarters, dimes, halfs).

You have $27.75 in face value silver.

$27.75 X .715 = 19.84 ozs of pure silver

19.84 X $16.50 (current spot) = $327.38

Usually 90% sells at or just below spot price.

 

[Farmercal]

If it against the law to melt down copper pennies for the value of the copper, then how can it be legal to melt down silver coins for the value of the silver? Are there unwritten rules that I haven't read about somewhere?

 

[gnewt]

If someone is going to scrap their silver I have no comment on right or wrong. It belongs to them. History is not our place, only memories.
If someone saves history, that is fine for the present, it may be destroyed in the future, that makes no sense. That is a parable of life.
The strange thing is who will benefit? Someone with a scheme, no work digging these coins out of the ground, just a scam. Gnewt

 

[RaptorSE]

Hey Ant Re-read the second line from Midwest in your Quote .

• We do not accept U.S. clad silver coinage (1965 to present).


Clad "silver" coinage. 40% halves are clad silver. All 40% halves are dates 1965-70 .

(well, there is a 40% bicentennial version too)

Ive missed that exact line when reading it as well, many times LOL. You see "clad"
and you totally miss the silver part Anyway, ya, they dont take it.

Bomber, ya Im still in CRH fever I cant quit, its an obsession haha. Doing ok !

 

[Ant]

Hey Ant Re-read the second line from Midwest in your Quote .

• We do not accept U.S. clad silver coinage (1965 to present).


Clad "silver" coinage. 40% halves are clad silver. All 40% halves are dates 1965-70 .

(well, there is a 40% bicentennial version too)

Ive missed that exact line when reading it as well, many times LOL. You see "clad"
and you totally miss the silver part Anyway, ya, they dont take it.

Bomber, ya Im still in CRH fever I cant quit, its an obsession haha. Doing ok !

I saw that two, but I couldn't make heads nor tails of it. So the 40% half’s we are talking about are not alloyed, they are actually metal sandwiched clad coins? If that is correct, that’s why I concentrate on gold, but I like silver coins too.

I shipped 53 dwt (2.53 troy onces) of some my damaged and unwanted gold to MWR and they recived the package on the 1st. I called them yesterday on a follow up and was told that they received the package and it should be processed in a day or so. I was also told that on Monday they had hundreds of packaged and are swamped. I hope they get my gold assayed when gold is on the up climb like it is now.

To ship it, it cost me $13.00 dollars for shipping and $800.00 in insurance.

 

[TORRERO]

To ship it, it cost me $13.00 dollars for shipping and $800.00 for insurance.

isn't $800 a little much for insurance ??

LMAO....

 

[RaptorSE]

Ya, here is the make-up and details of a Silver Clad half-dollar.

Weight: 11.5 g

Composition:
Outer layers: 80% silver, 20% copper
Inner layers: 20.9% silver, 79.1% copper

Silver content: 4.60 g (0.1479 troy oz)

Quite the sandwich indeed !

 

[Ant]

To ship it, it cost me $13.00 dollars for shipping and $800.00 for insurance.

isn't $800 a little much for insurance ??

LMAO....

Why, my payout for 53 pennyweight of mostly 14k gold is more than $800.00, it's actually under insured. So what are you talking about, if it was lost during shipment or stolen I would be out of over $800.00 bucks. I’m talking about gold, not silver. 24 kart (100% pure gold) gold is $909.00 a troy ounce, 14k is 58% pure and Midwest Refineries only charges a 6% fee for gold.


So why are you LMAO?

Ya, here is the make-up and details of a Silver Clad half-dollar.

Weight: 11.5 g

Composition:
Outer layers: 80% silver, 20% copper
Inner layers: 20.9% silver, 79.1% copper

Silver content: 4.60 g (0.1479 troy oz)

Quite the sandwich indeed !

If that's it the case Bomber they don't take 40% silver clad halfs. It's best to call them and make sure. Thanks for the details Raptor686.

 

[TORRERO]

To ship it, it cost me $13.00 dollars for shipping and $800.00 for insurance.

isn't $800 a little much for insurance ??

LMAO....

Why, my payout for 53 pennyweight of mostly 14k gold is more than $800.00, it's actually under insured. So what are you talking about, if it was lost during shipment or stolen I would be out of over $800.00 bucks. I’m talking about gold, not silver. 24 kart (100% pure gold) gold is $909.00 a troy ounce, 14k is 58% pure and Midwest Refineries only charges a 6% fee for gold.


So why are you LMAO?

Ya, here is the make-up and details of a Silver Clad half-dollar.

Weight: 11.5 g

Composition:
Outer layers: 80% silver, 20% copper
Inner layers: 20.9% silver, 79.1% copper

Silver content: 4.60 g (0.1479 troy oz)

Quite the sandwich indeed !

If that's it the case Bomber they don't take 40% silver clad halfs. It's best to call them and make sure. Thanks for the details Raptor686.

Only a joke, or play on words...
As worded, you spent $13 for postage and you spent $800 to insure the package ....

........ never mind....

 

[Ant]

To ship it, it cost me $13.00 dollars for shipping and $800.00 for insurance.

isn't $800 a little much for insurance ??

LMAO....

Why, my payout for 53 pennyweight of mostly 14k gold is more than $800.00, it's actually under insured. So what are you talking about, if it was lost during shipment or stolen I would be out of over $800.00 bucks. I’m talking about gold, not silver. 24 kart (100% pure gold) gold is $909.00 a troy ounce, 14k is 58% pure and Midwest Refineries only charges a 6% fee for gold.


So why are you LMAO?

Ya, here is the make-up and details of a Silver Clad half-dollar.

Weight: 11.5 g

Composition:
Outer layers: 80% silver, 20% copper
Inner layers: 20.9% silver, 79.1% copper

Silver content: 4.60 g (0.1479 troy oz)

Quite the sandwich indeed !

If that's it the case Bomber they don't take 40% silver clad halfs. It's best to call them and make sure. Thanks for the details Raptor686.

Only a joke, or play on words...
As worded, you spent $13 for postage and you spent $800 to insure the package ....

........ never mind....

I see it now, I blew it , no hard feelings Bro.

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