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hiyosilver
16th May 2008, 04:19
Just curious....What are your local dealers selling 90% silver U.S. coins (otherwise known as junk silver) for these days? I'm currently looking at 12 times face. I've tried Ebay, but to me, it's too much of a PITA.

Richard
16th May 2008, 05:23
Hi, hosilver!

I don't exactly comb my region like some might; I just call around within my immediate vicinity and there isn't much in the way of junk silver where I'm at, so I've turned to ebay. I've been snagging what I can all week, and more oft than not it's over the spot price for it's silver content.

Still, I've stumbled across a deal here and there. I just picked up some rolls of 40% Kennedy halves with the silver content at spot (and free shipping too!) and some 90% washingtons for only a few cents above. I've even bidded an order of small foreign coins, in place of dimes. I would like some dimes but...

What stands out most to me is that dimes are just ridiculous compared to everything else. They have a single gram of silver by weight but they sell for what seems to me a disproportionate price to other 90%'s. If I bought any, it would be at least a couple over spot for their silver content and often more.

Imo, the 40% halves seem to be the better buy (for my budget, anyway) of them all so that's what I'm going with, but I'm keeping my eye out for anything that no one's watching too close.

Da Flyin Lion
16th May 2008, 13:16
I've been getting 90% coins and some 40% half dollars on ebay under spot price for the last few months. The trick is to find someone selling a lot of item who offers a shipping discount. He might charge $3 or $4 to ship the first item but after that additional items will only cost half the price or less. Knowing this, all you have to do is bid a little high for one item and then you can outbid everyone else on the rest of the items and still come in under spot.

Another trick is to look for someone selling a strange face value of coins for example $8.30 in pre 1965 coins. At $17/ounce this is worth about $100 in silver but it's not the easiest thing to calculate.

Richard
16th May 2008, 14:31
Another trick is to look for someone selling a strange face value of coins for example $8.30 in pre 1965 coins. At $17/ounce this is worth about $100 in silver but it's not the easiest thing to calculate.

I just realized that I was calculating dimes wrong this whole time

Da Flyin Lion
16th May 2008, 14:54
$1.00 of circulated pre-1965 coins typically contain about .715 tr oz of Silver.
Roughly expect to pay 12x the face value of the coin with current spot prices. Any higher and you're paying a premium over spot.

Half Dollar=$6
Quarter=$3
Dime=$1.20

BTW, Coin shops in Michigan were selling 90% coins for 3% over spot a few weeks ago.

Drumblebum
16th May 2008, 16:05
CoinInfo.com has constantly updated dealer bid prices (without markup) for regularly traded coins and whatnot, plus the spot prices of the big 4 metals... down towards the bottom you can find the going rate for 90%... anything above that would be considered a premium. (So in other words... what Da Flyin Lion said...)

Good source of current news as it relates to PMs and such as well...

http://coininfo.com/

If you don't get the prices page click "home"...

bgosche
16th May 2008, 17:57
http://www.coinflation.com/coins/silver_coin_calculator.html

I use this as a quick reference when bidding on Ebay.

JesterJay
16th May 2008, 23:53
2 days ago my LCS said that he could not sell 3 bags full for 11 times. He said he would sell to me for 11.5 times face.
Pretty good deal. Perhaps I will sell a kid. Or lease one out!
JesterJay



Just curious....What are your local dealers selling 90% silver U.S. coins (otherwise known as junk silver) for these days? I'm currently looking at 12 times face. I've tried Ebay, but to me, it's too much of a PITA.

Trevallion
19th May 2008, 23:19
The last time I bought some 90% quarters I paid 13x spot. This was a couple weeks ago. I might could find it a little cheaper, but I don't like to deal with people that act like I'm wasting their time because I'm only buying a couple ounces of silver. I hate that. So I go to that dealer even though I may be paying a bit more then I should, just because he is nice and is always willing to pay attention to me even though I'm not making a huge purchase. And he has been very helpful since I'm kinda new at PM's.

I also use coinflation's coin calculator to get an idea when bidding on Ebay.

SilverWhore
19th May 2008, 23:26
I got a roll of 90% roosevelt dimes. An unnopened bank roll from 1964 that is for $65. Also an Unc roll of 1964 90% kennedy halves for $120. Basically spot for both.

hiyosilver
19th May 2008, 23:52
Here are some figures I came up with for calculating 90% coins. The 1% wear tare is a pretty good estimation on average circulated coins. A recent sample of dimes had 0.65% wear, but contained about half '63 or '64 year coins.

SPOT PRICE LIMIT TO PAY FOR 90% SILVER COINS
(accounting for 1% wear)


DIMES = .07234 - 1% WEAR = .0716 X SPOT
OR PER ROLL = 3.58 X SPOT
PER $100 FACE = 71.6 X SPOT

QUARTERS = .18084 - 1% WEAR = .179 X SPOT
OR PER ROLL = 7.16 X SPOT
PER $100 FACE = 71.6 X SPOT

HALVES = .36169 - 1% WEAR = .358 X SPOT
OR PER ROLL = 7.16 X SPOT
PER $100 FACE = 71.6 X SPOT

Hey, but you pay what you want to pay for your stuff...I just did this for my own personal guidelines.

goldminer
20th May 2008, 08:01
Agree with the above post: ..."$1.00 of circulated pre-1965 coins typically contain about .715 tr oz of Silver.
Roughly expect to pay 12x the face value of the coin with current spot prices. Any higher and you're paying a premium over spot..."

That said, 90% should "normally" (keep in mind that just like any commodity, silver demand > then supply will = > price) trade at plus or mines 5% of spot.

What one needs to remember is that a refinery will NOT by 35% or 40% U.S. or 80% Canadian, if they can get 90%, and will not pay spot for any alloyed silver items...plus a person has to pay shipping and insurance costs.

This means that it behoves a person any time they can, to buy alloyed silver items at less than the spot value of the silver they contain.

What most long-term U.S. holders need to consider is that 90% coins have value beyond that of the silver they contain. The coins are legal tender and served as currency at one time and can do so again if needed; carry government guarantee re content and purity of silver; are exceedingly difficult to counterfiet, and contain fractional amounts of silver. This makes 90% a highly divisable form of silver with LINEAR amounts in dimes, quarters, and halves (the silver in 5 dimes has the same amount of silver that there is in 2 quarters and one half-dollar).

All these things in many holder's view, makes having physical 90% coins worth more than the value of the silver they contain. 90% coins are and will always be REAL money good for preserving wealth and providing an element of security...now and in the future.

buggles
20th May 2008, 09:08
I agree that 90% is the best form of silver in terms of diversity of use. I aim to keep my silver holdings 30%-90% for SHTF, 30%-Art and Generic for Liquidity (i.e. I'll let it go for FRNs) and 30% Gov. minted Bullion for, well, forever. I have no intention of letting go of my Gov. minted bullion EVER.

hiyosilver
21st May 2008, 02:29
I have no intention of letting go of my Gov. minted bullion EVER.

hmmm, hiding it in your casket's an idea....but who is to gain?

buggles
21st May 2008, 15:09
LOL, point taken. I have family who would inherit the metal.