Trading Krap silver for SAEs or Gold

coolpix9 · Jul 21, 2011

Give me your 2 cents worth on trading some 40% silver for either SAEs or even some fractional gold items.

Do you have any experience doing this ?

Do the dealers hose you on both ends of the trade ?

Thanks for your sage advice. Jim

BuffaloBoy · Jul 21, 2011

silver @ $39(lets go a bit under-- it's dropping)... a 40%er is worth $5.76, you could get at least $4.50 each for them. I'd say 9-10x 40% for a ASE, i do not have experiance with this, but it seems fair.

ArkieBassMan · Jul 21, 2011

All dealers are different. Good luck!

I would think most dealers are going to try to make money off you on both ends. Its just business, and they're in the business of making money. Personally, I'd have to have 90% of melt for my 40%ers to swap for their ASE's or gold at retail price. I'm reasonably sure I could clear at least 90% of melt on the 40% if I were to sell them myself, and if I was paying cash to the dealer, I wouldn't expect to pay "sticker" price. However, just for the convenience, I'd swap at 90% for something I wanted.

fistfulladirt · Jul 21, 2011

Today I traded a roll of 40% and $210 cash and bought 10 silver dollars Morgan/Peace mix.
My dealer paid 86% of melt for the 40's and was selling silver dollers for melt + $1.
I've done about $ in business for him in the last week or so, been buying ASE's and trading up with 40%, they go right in to safe-deposit. ffd

quiksilver · Jul 22, 2011

Silver for gold sounds better then taking a hit trading silver for silver unless you sell at a high and buy on a low.

BuffaloBoy · Jul 22, 2011

fistfulladirt said:
Today I traded a roll of 40% and $210 cash and bought 10 silver dollars Morgan/Peace mix.
My dealer paid 86% of melt for the 40's and was selling silver dollers for melt + $1.
I've done about $ in business for him in the last week or so, been buying ASE's and trading up with 40%, they go right in to safe-deposit. ffd

you paid ~$330 for 10 morgan dollars, not a bad deal i'd say. with a current melt value of $40.05, those silver dollars are worth ~$310. your deal is the way to go, with a loss of about $20, you got rid of 40% halves for 90% dollars. :headbang:

fistfulladirt · Jul 22, 2011

BuffaloBoy said:
fistfulladirt said:

Today I traded a roll of 40% and $210 cash and bought 10 silver dollars Morgan/Peace mix.
My dealer paid 86% of melt for the 40's and was selling silver dollers for melt + $1.
I've done about $ in business for him in the last week or so, been buying ASE's and trading up with 40%, they go right in to safe-deposit. ffd

Click to expand...

you paid ~$330 for 10 morgan dollars, not a bad deal i'd say. with a current melt value of $40.05, those silver dollars are worth ~$310. your deal is the way to go, with a loss of about $20, you got rid of 40% halves for 90% dollars.

I paid less that, roll of 40's sold for $100, +$210 = $310 total paid for 10 silver dollers. ffd