Hey everyone, for all you dealers and avid collectors out there, what would you pay for someones 90% silver coins. How bout 40% silver coins. Lets assume condition is g - vf. Thanks Jim
If they're common quarters, half dollars or dimes, for 90% typically 10x face. for 40%... well, about 4.5x face, or less. However, even if they are in say F condition, a walking liberty half dollar (depending on the date) may bring a premium, compared to a 64 Kennedy Half.
The price is dependant on the spot price of silver. For 90% silver I use this formula: MV90 = (Coin's Face Value) X 0.724 X Spot For 40% silver I use this formula: MV40 = (Coin's Face Value) X 0.296 X Spot
Check out www.coinflation.com, that gives you the current melt value of them. If they are common dates, then either melt-50 cents over melt would be fair price IMO. Phoenix
Unreal how helpful you guys are around here! So, if I go with the 10X face value and 4.5X face value equation, or any other equation for that matter, you guys are talking wholesale right?? The amount a dealer would pay a collector? (or amount a dealer would pay a dealer?) right?? Thanks again! Jim
ill make it easy i paid $12.50 each for 4 morgans and 2 peace the guy who sold it promised me they would be bunc but even if they are ef i will come out ok so currently 12.50 is the magic number you are looking at
But what would a dealer give you if you presented him with a 90% silver kennedy and a 40% silver kennedy??? 10X face for 90% 4.5X face for 40% am i in the right range?? Jim
I'll say it again. Any formula you use must account for the spot price of silver. Silver spot today is about $16.40. Will those formulae be accurate if silver goes to $25.00? Or $8.00?
Or a more handy method, look at the buy prices at http://www.apmex.com/Category/528/Silver_Coins_40_and_90.aspx and http://www.mjpm.com/silver.cfm I do not endorse either of those sites, but rather I just use them as a quick reference of what someone is ACTUALLY PAYING. Obviously dealers will pay less.
actually the "bid" is $15.78 but anyways. Lets do this formula: We'll use a Mercury Dime for the example. It weighs 2.5 grams, and at 90% silver, thats 2.25 grams of silver. 1 gram = .0321 troy ounces. therefore, 2.25 grams equals .072225 troy ounces of silver. at 10$/ounce, its worth $.72 at 12$/ounce, its worth $.86 at 14$/ounce, a mercury dime is worth $1.01 at 16$/ounce, it is worth $1.15 at 18$/ounce, it is worth $1.30 and at 20$/ounce, it is worth $1.45 So you see, the price increases (rounded) $.15 for every 2$ of silver. The prices directly correlate with the "x face value" i.e. 14$ is 10x face value 16$ is 11.5x face value 18$ is 13x face value. etc, etc. However, that is just for a mercury dime. But Anyways... if you want to know the value of the silver just use this equation: For a silver dime: (.072225 * Price of Silver per ounce) For a silver quarter: (.1805 * Price of Silver per ounce) For a silver half: (.3611 * Price of Silver per ounce) For a silver dollar the equation does not follow the pattern. The coinage and amount of silver directly correspond by their value. A quarter has 2.5x the amount of silver in it than a dime, and a half dollar has 5x the amount of silver as a dime. However, the dollars weigh more than 10x the amount. So for a silver dollar it will be: (.7732 * Price of Silver per ounce)
That is very, very, very close to my formulae. Just another way of saying the same thing. Yes, the formula for 90% silver does not work for silver dollars. Nor would it work for silver three cent pieces. My (and your) formula work(s) for 90% silver dimes, quarters and halves.
True. I corrected the weight so my formula for the 1$ silver works. A Morgan/Peace dollar weighs 26.73 grams. 90% of that is 24.05 grams, which equals .7732 troy ounces. So .7732 multiplied by the price of silver = the melt value Its different because a half dollar has 5x the amount of silver as a dime, but a silver dollar has more like 10.8x the amount of silver, instead of 10x. So its a little off, but its easy to fix.
haha, there's actually 4... :rolling: I was trying to figure out 1 equation, but I didnt want to take the time right now (at night). lol
The top dealers are paying 10.8 - 11x face value for 90% silver and 4.3 -4.6x face value for 40% silver. However, most of the advertised rates are only for full bag quantities ($1,000 face value). You will likely receive a lower offer on smaller quantities. If you are buying a small quantity off of someone, I would say that 9.5-10x on 90% and 4x on 40% is a fair offer.
