90% silver value

[pbmaxb]

im a little confused why monex will sell me $1000 bag for $12483 but i see some prices on ebay that are way more...

$1000 bag at $12.48 per face dollar through monex


$500 bag that sold for $7260 - $14.52 per face dollar w/o shipping
http://cgi.ebay.com/500-00-bag-of-90-Silver-Dimes-circ-362-0-oz-silver_W0QQitemZ170202728292QQihZ007QQcategoryZ867 QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

$110 bag that sold for $1640 - $14.90 per face dollar w/o shipping
http://cgi.ebay.com/110-Face-Value-Pre-1965-90-Silver-Coins-78-Troy-Oz_W0QQitemZ160223194926QQihZ006QQcategoryZ39489QQ ssPageNameZWDVWQQrdZ1QQcmdZViewItem

now there is someone blowing ebay up with "OLD silver"
for $28.62 per ounce of 90% silver?!
http://cgi.ebay.com/50lbs-OLD-US-90-SILVER-COINS_W0QQitemZ200210792025QQihZ010QQcategoryZ3949 0QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

i am pretty confused. is the $1000 bag at monex crap? i wish they would sell me a $500 bag because i dont want to go > $10k. also considering some maple leafs. i already have a couple engelhard 100's and maybe 200 ounces of random 90% coins...


anyone care to comment?

[chux03]

I've seen the multiple (the number you multiply your ounces of junk silver with to come out with a price that's right above spot) recently as high as 15 so go figure. That'd be $15k per $1000 face value bag. There's an average of 715 ounces (which is the number most dealers selling bags of junk silver use figuring prices) of silver in a 90% bag of mixed coins. As high as 730 ounces for a bag of silver dollars and/or half dollars, so the premium on those type of bags is usually higher.
Are you sure the out the door price is that $12k figure you mention in your post and then shipping on top of that?? That seems almost too cheap, which it is if you divide your quoted price of $12483 by 715 which would be BELOW melt by a couple of bucks per ounce, (which seems unlikely to me). If it's a real bag of "junk silver" 90% U.S. pre 1964 silver coins with a face value of $1000, you're going to pay considerably more for that. I'd say closer to $14000 is the correct price for a bag like I describe. If you can get that for that $12483, YOU BETTER JUMP ON THAT RIGHT THIS MINUTE!!!

[TTAZZMAN]

for 90% dimes/quarters/halves

take the spot price....(kitco today) 17.88(spot) x .715(constant) = 12.78(multiplyer)

the 12.78 times the face value of the silver......for example if its a $1000face bag x 12.78 = 12,780$

this formula give you the practical conversion for 90% silver to Spot price


90% silver bags then move against the market sometimes they sell above and or below the spot price just like other silver depending on demand

Currently dimes and quarters bags ($1000 face) are going for right at spot




halves have been running higher than spot

the premium also goes up with smaller quantities such as a Half Bag or $500face will be more.....the smaller the quantity the more the premium

90% silver dollar bags trade much higher totally seperate from normal "junk" silver (dimes/quarters/halves)

the .715 constant i used in the formula above represents the industry standard allowance average for wear and tear due to the coins being circulated and some silver being lost in wear

EBay is a market in itself i have noticed that many times 90% silver can be purchased way below spot or it will be listed way above spot (market) also Ebay sellers can lose 2-4% in ebay fees and paypal fees (ebay tends to be a market of convienance IE paypal/credit card payment)

The Monex price is accurate its Idiots at ebay over paying.......you should be able to buy Half bags ($500face) from monex or other supplyers quite easyly

a quick Visit to Apmex's site shows silver bags going for selling for spot....they are buying them back at -.80 below spot i know they will sell junk silver with increaseing premiums down to $10 face as long as you meet the current minimum order

Normally bags($1000face) and half bags ($500face) sell at market with no size premium

[pbmaxb]

seems like its a good deal at $12483 i think they add in 1% commission and not sure what the shipping is on a bag. i bought 300 ounces and shipping was $30 so probably like $80 or something.

[TTAZZMAN]

seemed to be on the lower side of quotes i have seen out there...so i think you got a good fair deal

i would have expected to pay from someone like apmex today 12780+20 shipping for a total of 12,800 or 6410 for a half bag