Quick question. I’m on the road and an old friend called me to ask if I would by his silver….. Before Covid I traded a lot of silver and knew the arithmetic off the top of my head. It’s been two years since I messed around with silver so I am wondering does sixteen Times face sound about right?
Scroll to the bottom and it has current spot price values for US silver. https://www.silverrecyclers.com/Calculators/coin_calculator.aspx
16x face is cheap right now I believe. For example, a 90% dime is worth $1.66 melt right now. I like to use the coinflation website: https://www.coinflation.com/ EDIT: Maybe 16x face is right. I don't math good...
I use Coinflation as well when buying/appraising collections with 90% silver. Curious as to how much you guys pay? Spot or a little above/below?
Depends on who I am dealing with. When my storage room guy brings me a bag, I don’t even count it. I briefly look in the bag, do arithmetic in my head and throw him a number that is usually well below what he has in his head. He doesn’t know spot silver value. He just wants his cost back from buying the storage room…. I usually end up paying 50%-75% of spot with him…… When a buddy like I am talking about above needs to liquidate, I will offer him spot value and no more….. And it’s always a bit of a crap shoot. I have unrolled lots that I have bought and found one or two clads mixed in.
Although I hear of many "steals" here, I'd be ecstatic to pay him 16.5 x Face on Craigslist for "no-cull" 90% dimes/quarters/halves. That's appreciably less than any site which I know, and my Craigslist, eBid sales price. JMHO
Thanks for axsking. I haven't any problem selling to locals for 3 points above my 16.5x quote, supplying "comps", and return option. I've many return sales @ 19.5x, where people have done their "home-work". JMHO
I defined my "steal", which you appreciably beat at less than "spot" for "premium" material. Want to sell? LOL JMHO
