Dealer "buy price" for junk silver coins?

My dealer pays 15% of the going rate of silver

 

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If there is a coin show coming up in your area, I usually find some guys with bins full of economy grade silver for 10x face, 12x face, or some other number depending on the spot price of silver. Most times I haven't found any savings buying in larger quantities of lower grade 90% silver. You could also try a coin shop. Many buy quantities of silver and pick what they want to sell individually. The rest are up for grabs to guys looking for bullion silver.

 

I do not like the label "junk silver" either. Low grade gold coins are not usually referred to as junk, and scrap gold usually refers to broken jewelry and not coins. Using gasoline as a model, how about regular/economy coin silver (<F), mid-grade/plus coin silver (F-XF), and premium coin silver (BU)? Never mind, let's just keep calling it junk silver, we all know what it means. TC

 

"Junk" Silver vs. "Junk" Gold

I have a bag of b.u. 1964 Kennedys, I guess they're not "junk" silver, which is probably just a convenient term--other terms would suffice with a better "ring".

If you had a bag of pre-1934 gold you wouldn't call it "junk" gold, even though there is a lot of copper in it. I sent in 5 "junk" $20 libs. for certs. earlier in the month and 2 came back "60" 2 came back "AU" one came back XF. They are certainly worth more in a holder than possibly "cleaned" as one major dealer claimed when I sent him a bunch of $20 libs. last year. He said they were mostly worth only jewelry money. This is why Universal Coin says to certify most all gold coins so you don't get snookered.

 

Huh?!?

Is this as it should be? If he's 'your' dealer, this suggests you trade with him upon these terms. I should think he wears a mask and carries a gun while transacting 'business'.
Perhaps you made a mistake while typing. If not, I hereby offer you double.

 

I tell you what...

I think if we swap "Junk Silver" out for "Bullion Grade Silver Coin", nearly everyone would be on board.

"Investment Grade" makes me think of QVC telemarketing rolls of MS-68 1994 Lincoln Cents or other such rot.

 

I'm sorry! I don't ever want anyone to think of QVC when I'm talking about coins. That's just sick!

 

Junk silver?? How can anything be worth something called Junk??

 

My point exactly! I am open for suggestions on a PC name for them that isn't too long and wordy. "Previously circulated precious metal mint issued coins containing little numismatic value" is the type of description I am trying to stay away from.:goofer:

 

Is this a typo? Do you mean spot minus 15% ?

 

I hope it is a typo! Otherwise, I don't know how he can sleep at night.