What are you all paying for 90% junk?

I was hoping Everyone would cut me some slack on that ONE as it was about 1AM. well past my bed time.
I went in to fix it, but couldn't get it done.

 

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I've heard 12x pretty consistently for a good while now.

 

Yep, still right around 12-13x with variation based on the denomination of the junk and amount purchased. Some specials available for just under that, Provident Metals, for instance. But, you can't control what denomination you receive.

 

My LCS is selling it at melt.

 

10x at local pawn shop (4.5 FV of walkers and frankies) for $45. Most places I've seen online, craigslist, etc are about 12x

 

Wow. I wish my local pawnshops would sell for under melt (at least on purpose). The one shop never seems to keep stuff long, so I guess they're pricing it right for their clientele, but the other has had the same tired Roosies and Washingtons laid out in the same careful rectangular array on a glass shelf for months. Maybe a year at this point.

 

10X Face on 90% US

 

Are you paying that to customers as a dealer, or paying it as a customer to a dealer? Or doing some sort of Craigslist thing?

 

As a Dealer to People who bring me 90% US coins to sell I offer 10X face

 

That seems like a perfectly fair offer. There's one local dealer who pays more at shows (he'd probably be around 10.8x-11x right now), but there are a lot who pay less. And I'm betting pawn shops would offer 6x at best right now, and would try to get it for less.

 

As a hobbyist, I'll pay X 12 since that is roughly the average of the melt price over a rolling period of time (melt is less as I type this).

I enjoy the silver dollar (until 1935) and 1/2 dollar 'older' coins (call it pre-WW2 and during WW2) the most so I'd pay maybe 12-15 times melt for circulated coins.

I've been buying for 30 years and never try to deny a dealer a fair profit (they are the "market makers" and keep the market liquid).

 

Buy back on Junk 90 is -$.80 under face right now. You should be paying melt or less.

 

That seems reasonable to me for a dealer.

I have a coin show next weekend that I will pay X12- X15.

I have no idea how coin dealers live on such a small profit margin.

 

Volume, volume, volume! And also nicer coins that carry a higher markup.

 

10x seems a little low but not awful. 12x seems to be the buy price from places locally. 14x to buy from dealers.

 

LCS today, 10.9x

 

9xFace