Is 90% of spot a good price to sell U.S. junk silver for?

Discussion in 'Coin Chat' started by Luke1988, Sep 3, 2010.

  1. Luke1988

    Luke1988 New Member

    I have been looking at this place http://midwestrefineries.com/ and wanted to know if i could do better? I also have some modern silver proof sets that i would hate to break open for melt but 90% seems better then what i can get for some on ebay with the fee's and all.:eek:
     
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  3. Luke1988

    Luke1988 New Member

    Where is the best place to sell U.S. 90%?
     
  4. oval_man

    oval_man Elliptical member

    Are there any dealers in your area? I get a few more percent, on average, from a local dealer where I live. I see him at local shows so travel costs are next to nothing.

    This site http://www.coinflation.com/coins/silver_coin_calculator.html
    calculates silver melt value for you and gives a bid/ask spread.
     
  5. cerdsalicious

    cerdsalicious BigShot

  6. Luke1988

    Luke1988 New Member

    I would be lucky to get 8x face at my local dealer:(
     
  7. FreakyGarrettC

    FreakyGarrettC Wise young snail

    If you sold it to another collector instead of a dealer you would get more. :)
     
  8. GDJMSP

    GDJMSP Numismatist Moderator

    90% of spot is about the average going rate. Some dealers will pay a bit more, some a bit less.
     
  9. GDJMSP

    GDJMSP Numismatist Moderator

    Sometimes, but that is assuming that you can find another collector who just happens to want what you have to sell at the price you are asking.

    That's why dealers exist. Because it's a lot easier to say I'll sell it to another collector than it is to actually do it. The dealers are always there - the collectors aren't.
     
  10. Farstaff

    Farstaff Member

    The lines are becoming fuzzy between dealers and collectors since the internet, Ebay and forum classifieds ads, imho. Some times, I can't tell the difference.
     
  11. GDJMSP

    GDJMSP Numismatist Moderator

    Sometimes they can't tell the difference either. But to me, a dealer is somebody who makes their living buying and selling coins. Anybody else is just a collector who happens to sell coins now n then.
     
  12. oval_man

    oval_man Elliptical member

    Ouch. The last time I sold silver, about two months ago, I got 12x face, and spot was around $18.50 then, less than it is today. I should mention that the dealer I sell to doesn't have a shop (he just does shows), so no B&M overhead.
     
  13. spock1k

    spock1k King of Hearts

    good how about making sure hrh doesnt sink with the castle. are you feeling the pinch yet or shall we wait a few more years before we start our TPG?
     
  14. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    I got 13x today.
     
  15. ExBingoAddict

    ExBingoAddict New Member

  16. Luke1988

    Luke1988 New Member

    Is there a minimum amount you have to send in?

    And does anyone know if there are any taxes involved when sending metals to a refinery?
     
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