I buy silver coins from a local dealer. For the junk ones he charges a buck or two over "melt value".... When I asked him what melt value meant he said it's what the silver is worth if you were to melt the coin down..But is it what the siver is worth for me or a dealer? ...i.e can I ealsily sell my coins to a siver dealer for melt value or would they only offer something below so they can make profit?
So unless I find a collector. I am looking at something less then melt. That's what I thought. Thank!
Yes melt is the same but a dealer has to make some profit to stay in busisness so he has to sell a little over to make a profit and he of course tries to buy any coin as low as he can just like the rest of us.
If you're buying you'll pay over melt. If you're selling you'll want to get over melt. It's all on what you're willing to pay over melt, and what someone is willing to pay you over melt.
Some dealers have contracts with refiners some don't. You'll get a better price selling your junk to a dealer who intends to try and resell it. If you ever decide you want to sell junk silver send me a message and I'll give you some advice. I got a bag of 40% halves a few months ago and I went through alot of leg work trying to get a fair price.
You could check out kitco.com for their buying prices. I used to buy a lot of silver off of eBay, and I never paid over spot including shipping...not sure what the market is nowadays. Spot silver price is for 1000 oz. bars on the open market. Most any silver, besides 'junk' coins, will have a premium attached because somebody had to buy that 1000 oz. bar and mint it into smaller quantities. Of course, that costs money. Hopefully, when one buys with a 'premium', one can sell at a 'premium' later. If not, 'junk' silver US coins are probably the best, and cheapest bet available, and they are already trusted , recognized, and minted into convenient sizes.
