Wanted to know what you all use to calculate the face value of your 90%. When I use the Coinflation Website it uses the .7234 number with the bid price and when I go to Provident Metals it uses the .715 number with the ask price. I do know that the .715 number is to take some wear of the dimes, quarters, and halves into account.
I use the following: 1942-1945 Jefferson Nickel 0.05630 1892-1916 Barber Dime 0.07230 1916-1945 Mercury Dime 0.07230 1946-1964 Roosevelt Dime 0.07230 1892-1916 Barber Quarter 0.18080 1916-1930 Standing Liberty Quarter 0.18080 1932-1964 Washington Quarter 0.18080 1892-1915 Barber Half Dollar 0.36170 1916-1947 Walking Liberty Half Dollar 0.36170 1948-1963 Franklin Half Dollar 0.36170 1964 Kennedy Half Dollar 0.36170 1965-1970 Half Dollar (40%) 0.14790 1878-1921 Morgan Dollar 0.77350 1921-1935 Peace Dollar 0.77350 1971-1976 Eisenhower Dollar (40%) 0.31620 This is what NGC has to say about it... https://www.ngccoin.com/priceguide/Coin-Melt-Values.aspx
Since so many buyers and sellers "use" Coinflation, I'd use their number, 0.7234 Just verified it, silver at $16.96 and half dollars at $6.1343 (x 2) equals $12.2686 for a dollar unit's worth. Divide 12.2686 by 16.96 and yep, it's 0.7233844 rounded to 0.7234 --
If you buy from Provident? They sell by face value, not by weight so it should not matter although I would never buy 90% through them. Anyone who sells by weight is most likely trying to rip you off.
.715 is used by provident and most dealers at shows I have run into. The equation is spot * .715 gives you their melt value. If you want to know what they are charging over spot in face value terms it is spot+premium * .715.
The .715 is used to account for silver that is lost through circulation on well worn down coins - ie most of the Barbers you see in "junk silver" lots. When I have bought junk silver I preferred 90% Kennedies and newer Franklins etc for that reason. Barbers and older SL are cool for age factor, but they are usually pretty heavily worn and don't weigh as much as they did when they were minted.
Back in the early 90s when I was buying junk silver I would occasionally find Barbers, mostly dimes, but even halves in lots. They would grade AG-3 and would weigh in at the .715 or so, not .7234. Haven't bought silver since it was like $6.50 an ounce or so.
When you're dealing with another party, the odds are high they will want Coinflation because it's well-known, easy to use, and available online with no fuss. If you hold out to use "your" numbers, they may think there's something funny going on, and a good deal may blow up. That tiny increment isn't worth obsessing over.
That sounds like a good plan. When I sold at my coin club that's what I did. I also used bid price not ask price.
