No, seriuously if there is a way to get that silver out? Obviously no jeweller will ever use 35% silver alloy, and noone will buy it either. How much would it cost to refine that silver? If there is any point in hoarding those? ( btw- yesterday I bought 24 of them for $7.04, without sniping, priority shipping included )
A refiner break down the alloy, and I am sure many did in the melts of the early 1980s. As they are, they have a known quantity of silver and could "trade" as bullion to that extent. No, a jeweler wouldn't want them, but he wouldn't want 90% silevr coins either as the modern standard for silver jewelry is Sterling (.925).
wow i need to start collection war nickels if other ppl have this same opinion war nickels will become a rarity
Sure, but how much this break down will cost ? will it eat any of the bullion value? As for jewelry, I bet 90% will do great. Mercury dime is a practically ready jeweler's piece
just trade it as a bullion with other collectors/investors... dont melt it unless you absolutely have to... if you need a coin for melting then use silver eagles, maple leafs etc. modern junk without collectors value and interest.
That's why when you sell junk silver you get paid less than spot price. For that matter when you silver eagles, and they're .999 silver, you get paid less than spot price. They always pay less to account for the smelting costs.
There is an assumption here that the only value of silver is the melt value. Many buyers of silver would love to have everyone believe that. However, when large users of silver purchase quantities of silver from places such as the Comex, they pay spot plus commissions, insurance, interest and delivery charges. Recently, they have to wait weeks for delivery. So the typical silver buyer has to pay more than spot. If you walk in and accept less than spot price, there is a good chance you are the lowest ask price they will receive all day. Silver in coin form has several advantages. It's weight and purity are already known. It is portable and does not require assay. This makes it suitable for investment, and accounts for its historical use as money. Melting silver coins does not always represent the highest and best use. That is why people will frequently pay over spot for coins such as silver eagles, and why many coins with little or no numismatic value are never melted. The value to a smelter, collector, and investor can be different. There isn't a single "correct" price. The spot price is one price, but there can be many prices at the same time. Spot is a benchmark, changes constantly, varies by location, and prices are often quoted as +- spot to reflect this. So there is no simple answer. Just don't rush out to melt your coins.
Let me put it this way Cloud, no commercial entity will pay an individual spot price for silver - pure or not. yes, one individual can sell silver coins of any fineness to another individual and get more than spot - it happens every day. But you won't get it from anyone who is in the business of buying silver. Otherwise they'd go broke in a hurry.
That's why I would suggest seeking another outlet to sell the coins. The spot price is basically the Comex price. It isn't the only price, and there is no reason why it would represent the highest price available. It's one market that currently holds a lot of market power. That won't necessarily always be the case. If the US Geological Survey is correct, as well as some silver analysts, the commercials will eventually have to offer coin owners premiums to spot to help fill demand that cannot be satisfied by the Comex warehouses. But that time hasn't come yet, so they should be off the list for now as far as selling coins is concerned. There is nothing magic or eternal about "spot." That's all I wanted to point out.
