40 % Silver Coins

Thanks. That helps me. I can see how it's tough to know what the true silver content really is.

 

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That's why they have the purity stamped on them, and why any reputable pawn shop has testing acids. They are worth all the same based on weight and purity. You won't get near spot price as they have to ship out to melt, but 70-80% value is typical. Just know the weight and spot price before going to a pawn shop and reject their initial offers if too low.

I've made a few nice scores picking up cutlery sets and oddities like gravy bowls from garage sales, thrift stores and people's basements/attics.

Is sterling silver good for stacking? No, but definitely don't ignore a good deal if you find one. For stacking, go for government minted bullion coins, secondary market bars (10oz or larger) or junk silver. 40% junk is fine, and dirty is fine, it is just stacking.

The better question, is stacking a good idea? Well, how much per year are you trying to save or invest? If you only have 1500$, I say no, put it into an IRA. If you have real money to save every year, than sure, put away 10% of your total saving into silver and gold to preserve buying power, but don't forget about stocks, bonds, numismatics, real estate (you have to live somewhere), an IRA, ect.

Also, if you plan on getting junk silver for g-d's sake tell your immediate family and leave a note in your will or testament. I made 800$ last year from an old lady whom deposited silver at face value into her account.

 

The issue with sterling isn't the .925 silver, it's the .075 other stuff. Could be copper, could be a mix. The alloy isn't the same from piece to piece. Which makes refining more difficult.
That was my initial point.

 

True, the balance isn't always copper, or cupronickel. But Nitric acid doesn't care and nether do refineries. If you're only getting 40% value than you're getting ripped off.

 

You may want to clarify that you're talking only about scrap and not junk 92.5% coinage.

 

asked a few coin shops what they were buying 40% at. One was 3x face and the other 2x.

 

Current melt value is 4.5x face for 40% Kennedy halves

 

Yeah, learned that the hard way. I'll never sell to coin shops anymore unless I need the cash quickly. Craigslist or online forums have a much better return, but of course, have their drawbacks.

 

You won't find a buyer at 4.5x though.

 

Current melt value for a 40% half is $2.27 for the silver... are you adding in the copper?

 

I've never had an issue selling 40% for spot. Sure dealers don't pay spot for it, they usually don't wanna pay spot for 90% either. But collector to collector it's usually pretty easy to get spot even for 40% in my experience.

 

Maybe not with a coin dealer or at a pawn shop, but 2x or 3x is insulting. As said by others, sell to a collector directly.

Who cares about copper?

 

My point is that, when you say "current melt value is 4.5x face", it looks like your number is a little bit high. I'm wondering where you get that number.

 

50¢ x 4.5 = $2.25 (I rounded down by 2 cents)

 

Most bad EBay sellers stick out like a sore thumb. If there is an odor about, trust your nose.

 

Found a website where I can sell the 40% at 4.5x face. Good to know for the future. I'll keep stacking the stuff.

 

Current melt is $2.3884... they are certainly not making a ton of money if they are buying it at $2.25/coin...?

 

Well which one?

 

Hello,there is a site that lists the daily values of all the denominations of 40% silver, as well as 90% silver etc. on a daily basis. The name of the site is WHITES ELECTRONICS and they sell metal detectors, one of the best. Hope this helps, Bill