40%ers & War Nickels for 1oz Silver Rounds (maybe some Gold)?

I have 228 40% Kennedys and 401 War Nickels, and I was wondering if I should go to my LCS and trade them in for 1oz silver rounds (Elemetal Buffalo & Atomic Number from Provident Metals)?

Total melt value (@ 100%) for the 40%ers: $600.91
Total melt value (@ 100%) for the War Nickels: $402.31

Or should I trade them in and go for either a 1/2 oz GAE and rest in silver rounds? Or use them towards the purchase of a 1oz GAE?

 

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Well firstly I'd discover what your local store is going to offer you for 40% and 35% if they'll take them at all because pretty much no one offers spot for those.

 

I just listed the spot for reference. Or I can just sell via Craigslist.

 

Yes, the LCS should be able to provide an exact trade basis for your $1000+ of spot value. If he can't, or won't, forget him.

I would not advertise them on CraigsList, regardless of your security arrangements -- it tells the whole world you're a stacker, with a lot more "good" silver on hand, based on the amount of "bad" silver you've accumulated, and then you'll be vulnerable indefinitely.

A captured CraigsList bandit here in town had a precise list of bullion ads going back to 2013.

 

If you could make either of those trades which is a big if yes I would. 1 oz or the gold would be much more liquid

 

@Bman33 will have good ideas on this .. seems to be his specialty.

 

A few of my local shops sell 35% and 40% below their melt value, I agree with Blissskr, see what they are paying. I'm hesitant buying them anywhere near melt myself only because of the resale value.

 

Why dont you find a reputable smelter, send it all in and get cash. Ask your LSC who they use or do a little research. They may even trade for gold.

 

Yes, I just did this last weekend. I had 202 40% halves. I got 91% melt for them. I traded for 1 10oz bar and 15 2017 ASE's (I had to pay an extra $28 to get the deal closed). The bar was for my girlfriend out of her stash and the ASE's were for me out of my stash. I got all my 40% halves Coin Roll Hunting so this felt good. 91% with no hassle on eBay or Craigslist made it worth while. I had to hunt around for this deal though. Through coin clubs and coin shows I found the dealer who would give me the best deal in my region. The local smelter offered me 80% melt and some of the offers from other dealers were just a slap in the face. I suggest doing your homework before you make a transaction. Remember, you're dealing with ratios when you trade so don't be in a hurry to make a deal. I am not familiar with war Nickels too much but I heard that they discount much less because it's a real pain to extract the silver. Even more than The 40%.

 

Bman, I've heard the same about War Nickels. Refiners hate them, and discourage them by offering extremely low prices, regardless of what Coinflation says.

 

Great information. Thanks for sharing! I like the idea of getting the less liquid silver into a more liquid form.

 

I have a local smelter that I think my LCS uses I'll have to call them to see who they use and if the smelter will do 1 time transaction. I also have 50% silver Canadian dimes, quarters and just a half roll of 80% quarters. Probably want to also add to the trade.

 

The melting points of each element also can help understand why it's harder to smelt.

War Nickel
silver is 1,760 Fahrenheit temperature to melting point, manganese 2275 F, copper is 1984 F

Modern Nickel
for comparison: copper is 1984 F, nickel is 2650 F

1982 Penny is 95% copper and 5% zinc ( a low 787 F)
Morgan Silver Dollar is 90% silver and 10% copper

I can see how nickels require more energy to separate the metals.

 

It may also have to do with smelting them in a separate batch, in a separate crucible = expensive, considering the relatively tiny profit.

 

The more bulk you have, the more money will get per ounce. That's what I saw on a smelters website. Probably has to do with the set up lasting longer and getting more silver.

 

For persons challenged by the Alt-code for "degrees," it is
Alt-248, as in 787 F >> 787° F.

Push 7...8...7...push down and hold Alt, then 2...4...8

 

I don't buy the smelting idea , they just use that to club you over the head with. They tell you that , but they bag them up and sell them just like 90% out the back door after you leave by the front.

 

IMO, chances are high you are exactly right. Follow the money.

 

Update:

So I called around today (About 5 local shops within 25 miles) when silver was at 18.08. I'm only going to list the 2 shops that offered a semi-decent total offering. All other shops was just a slap in the face IMHO.

So this is what I'm using to either trade for or use the cash value offered to buy better liquid silver or gold assets i.e. 1oz ASE, 1oz silver rounds, AGE etc.

Melt Value:

• 40% Kennedy's (228 coins) $610.02
• 40% Eisenhower Loose (60 coins) $343.01
• War Nickels (401 coins) $408.41
• Blue Ikes (complete - 10 total) $57.20
• Brown ikes (complete - 6 total) $34.06
• 1973 Brown Ike (complete) $5.68
• 50% CAD Dimes (50 coins) $33.92
• 50% CAD Quarters (108 coins) $183.06

Total value: $1,675.66 @ 18.08 an oz

Shop 1: *has lots of silver rounds and ASE/Maple Leafs (out of gold coins/bars)

• 40% Kennedy's $484.50 (4.25 x Face)
  
• 40% Eisenhower loose $285.00 (4.75 x Face)
  
• War Nickels $260.65 (0.65c each; sells for 0.85c each)
• Blue Ikes $72.50
• Brown Ikes $48.00
• 1973 Brown Ike $24.00
• 50% CAD Dimes $23.50 (4.70 x Face)
  
• 50% CAD Quarters $126.90 (4.70 x Face)

Total value offered: $1,325.05
Net Lost of Melt: -$350.61

Shop 2: *Plenty of AGE, Maple Leafs, Bars (but barely any silver left in shop)

• 40% Kennedy's $513.00 (4.5 x Face)
  
• 40% Eisenhower loose $270.00 (4.5 x Face)
• War Nickels $240.60 (0.60c each)
• Blue Ikes $55.00
• Brown Ikes $33.00
• 1973 Brown Ike $17.00
• 50% CAD Dimes & Quarters Total $128.00

Total value offered: $1,256.00
Net Lost of Melt: -$419.66

My question is based on the items and amount offered for each set should I go with a shop in particular, just go to the smelter myself (I'll have to call a few), just go to eBay myself with individual lots, or hold on for future trade/sell out (if silver continues to go up)? I value everyone's opinions and insights. Thanks for looking and offering replies!

 

Don't trade silver for silver ,. You lose in both directions . If you have kinds of silver you don't like stop buying it and cash out of it a little at a time and never buy that kind again. Don't churn your stack , only sell to raise cash for cash expenses bills whatever.


If you need to sell those kinds though:
Post your warnickles on Ebay at melt plus shipping in lots of 100 or so and when Ebay runs a Ebay bucks promotion like they are today for instance someone will pick them off. Same goes for the canadian 50% , ebay seller hisnherz just posted 25 rolls of 50% dimes for 35$ a roll and they sold in less than a day.

Loose 40% ikes? make a roll of 20 and start an auction at 99 cents and you will get melt plus

40% halfs ? 60 a roll on ebay all day long as a buy now.

Trade the blue and brown ikes to shop 1 or 2 it looks like they are giving you over melt.

If you want gold and want to trade out of silver , in the past I have waited for Ebay bucks promotions then bought gold coins with the paypal 6 months no payments no interest deal , then listed silver I wanted to dump and paid the bill off with the proceeds.
You can get some gold for under melt from APMEX on ebay net the 10% ebay bucks

http://www.ebay.com/itm/10-Gold-US-...297230?hash=item1a0b83328e:g:tn8AAMXQUmFSfBuZ

http://www.ebay.com/itm/Uruguay-193...cac6d90&pid=100005&rk=1&rkt=6&sd=141987018651



If you don't like ebay taking 13% then open an ebay store for a month and pay lower fees 6% on coins instead of 10% if you have a lot to sell you will come out ahead after paying the store fee