A guy at work offered to sell me some casino tokens from Vegas for face value $10.00 I have not seen them yet but he says they have a brass ring on the outside and silver on the inside. I called the local coin shop today and was told they would pay $9.00 for the tokens and $1.20 for some silver dimes I bought from the same guy last week. I bought the dimes for .90 So.......I'm wondering if $10.00 seems like a fair price to pay for the tokens. He's bringing one into work tonight so I can check it out. Any help here would be appreciated.
They are probably Silver Strikes. They are known to come in many denominations, but $10 seems to be the most common. Any $10 Silver Strikes produced before 2006 will contain 6/10ths of an ounce of .999 fine silver; any that were produced since 2006 contain 5/10ths of an ounce of .999 fine silver. Chris
$10 per is about the same as getting the dimes for 90c each. You really should be paying him/her more. $10 isn't fair at all. You should be offering $12 per token.
With silver at $23.25, the melt value would be $11.63. If the dealer is offering $9, I think $10 is fair. I accumulated 57 Silver Strikes over a 3-year period in Vegas, and it cost me just under $200 to win them at Slots-A-Fun. Chris
Or $13.95... Typically speaking, silver strikes are assumed to contain 0.55 troy per token. The 2006 50% date isn't entirely accurate, as it depends on which casino released them. Also, if the tokens are from Reno or a casino from a different state, the numbers are also different. Anyway, I think it's reasonable to say that $10 is an unfair amount to pay. Well, silver's at $22.61, so $11 instead of $12.
Looked into this a bit more. Apparently, in 2010, casinos started issuing silver strikes that don't say .999 Fine Silver. So, if you're being offered those, they don't contain silver or they do... No one is really sure. It's either nickel clad or silver clad.
Wow, $10 isn't fair and $12 is what he should eh? What is fair for a 1952 mantle? And what should he offer? The point I'm making is I don't think a 20% spread is the difference between fair and not. To me either would be fair or somewhere in-between too.
am i missing something? The OP said his friend offered that price to him... It is not his job to do his friends research...
