Silver buyers prices...Good or Bad?

GlassyEyed · Nov 6, 2010

Silver buyer's prices...Good or Bad?

I went to a local place today and asked how much halves were going for. He said 40% were going for $6.00 and 90% for $17.50.

I have never sold any and was excited at the idea until he repeated and said $6.00 and $17.50 per dollar of each.

Good or bad price you think? I know he is the highest within an hour of my house so was wondering...

rileyboy · Nov 6, 2010

Re: Silver buyer's prices...Good or Bad?

At today's silver price of $26.76 per oz. a 90%er is worth $9.67 and a 40%er is $3.95. You can figure it out on a daily basis by using this formula: price of silver X .0321507466 X 12.5 X .90 = The worth of a 90%er. For a 40%er it's: price of silver X .0321507466 X 11.5 X .40 = the worth of a 40%er. Multiply the price per coin by 20 and you will know what a roll is worth. Right now a roll of 90%ers is $193.57 and 40%ers are $79.15.
Hope this helps you
rileyboy

GlassyEyed · Nov 6, 2010

Re: Silver buyer's prices...Good or Bad?

Thank you...I looked further down the page and someone listed a link that actually has the coin multiplier on it. Pretty much exactly what you said.

Thanks again...

jim4silver · Nov 6, 2010

Re: Silver buyer's prices...Good or Bad?

I don't think those prices are bad. You could probably get a bit higher dealing directly with another collector, but if you want the ease of walking into a store with the coins and selling them the price is fair.

When it comes to junk silver, especially 40%ers, you rarely if ever get spot, especially from a coin dealer. We are in a period where the premiums on junk silver of all types is fairly low, either buying or selling. Sometimes the demand for junk picks up and you can get closer to spot when you sell. Historically when the price of silver starts to go up the premiums and demand on junk silver go down because people start selling it and the coin dealers get flooded with it.

Many local coin dealers don't like to hold too much inventory when it comes to certain items like junk silver. They prefer to get rid of them quick by either wholesaling them or flipping them to another customer, especially if they believe the price is going to correct. They can't pay you spot because they would have a hard time selling it for over spot to someone else so they could thus make their profit and stay in business.

Jim